WEEKLY HIGH IMPACT NEWS:
8:28 GB- SVC PMI
12:30 CA/US- Employment
12:30 CA- Retail Sales
Trading Themes --
- The final shoe dropped early Wednesday afternoon in N.Y. when word got out that John Kasich was ending his campaign to become the Republican nominee for President. On Tuesday, Donald Trump had all but secured the Republican nomination to run for President after a decisive victory over Ted Cruz in the State of Indiana.
In the Democrat race, Bernie Sanders beat Hillary Clinton in the primary, but it appears that Clinton still will be able to limp first across the finish line to become the Democrat candidate. This has not been a strong showing for her. As the Presidential race becomes the focus, markets will pay more attention to the likely policies of top candidates.
- The U.S. saw mixed data on Wesnesday with the ADP Private payrolls data coming in significantly weaker than expected. On the other hand, U.S. Service PMI's and 1Q16 productivity data were stronger than expected, This was a split decision for the USD which traded sideways for the day. Equities were looking heavy.
- The Eurozone final April PMI's were revised slightly lower from their flash estimates from a week ago. These data remain lacklustre, but continue to grow. The U.K. April Construction PMI was considerably weaker than expected and weighed on the GBP. The upcoming Brexit vote could be adversely impacting spending decisions in the U.K. Thursday sees the April U.K. Service and the EZ Retail PMIs
John M.Bland MBA, CTA,
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Brexit Poll: What Do Traders Expect?
The UK's EU referendum: All you need to know-- BBC.com
CURRENT CONDITIONS: Risk-Off Late In N.Y.
U.S. Stocks Slide on Growth Concerns; Dollar Rises a Second Day -- Bloomberg.com
http://www.bloomberg.com/news/articles/2016-05-03/asian-index-futures-track-u-s-retreat-while-yen-extends-losses -- Reuters.com
BREAKING NEWS: U.S. Service PMIs Better
BREAKING NEWS: U.S. ADP Private Employment Misses
BREAKING NEWS: U.K. Construction PMI Misses
BREAKING NEWS: EZ Service PMIs Revised Lower
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