Binary Options News : September 3, 2012
Disappointing HSBC Manufacturing PMI data released from China Asian added to the increasing speculation that the world’s second largest economy will implement stimulus measures to boost its economy.
The Chinese HSBC Manufacturing PMI came in at its lowest reading since November 2011, falling for a tenth successive month, now standing at 49.2 with 50 indicating an economy in contraction The data initially sent stocks down but with stimulus talk still in the air following on from Ben Bernanke’s speech at Jackson Hole, Wyoming on Friday, in which he suggested that the Fed may pump more money into the economy via quantitative easing, Asian stocks quickly rebounded only to come into choppy water as the trading session continued
After rising over half a percent, the Nikkei is currently only 0.02% the Hang Seng was up 0.51%, valued at 19581.00. Whilst the S&P was 0.15% higher
The greenback recovered a little from its losses on Friday. The US Dollar index which measures the greenback against a basket of 6 weighted currencies was 0.04% higher, valued at 81.23. The dollar was mixed against most major currencies – 0.12% against the Yen, but down 0.52% against the commodity linked Aussie, The oil linked CAD was down 0.04% against its American counterpart.
Friday saw investors take advantage of the 0.11% against the Yen with Gold posting a 2.23% rise and Silver jumping 4.24%. Today, they both continued to climb with Gold rising 0.25% to trade at 1689.25 troy ounce and Silver again stealing the limelight, rising 1.38%, trading at 31.875
The national holiday in both the US and Canada will mean a lower volume of trade , but the release of Spanish, Swiss and Hungarian PMI releases data to should keep the Euro busy as the European markets (predicted mixed to lower opening) take in the latest Fed intervention speculation.
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