Sterling rose strong against the Dollar Tuesday after stronger than expected April Manufacturing PMI figures. London’s FTSE 100 closed 0.6% higher. Euro traded higher during the London Session, Swiss Franc struggled, Yen broke the resistance at some point.
By the Wall Street Session, Investors’ focus seemed to make a shift, more toward the anticipation of the end of the Fed’s two-day Meeting on Wednesday and Friday’s Jobs Report to confirm expectations for an Interest Rate rise in June, following recent weakness in US Growth and Manufacturing Data. Two things Market Analysts project on Investors Expectation List include:
- If the Central Bank will address recent weakness and whether it will indicate that a new increase is likely at its June Meeting.
- If there would be details on how and when the Fed may begin reducing the size of its Bond Holdings.
Today’s potential market catalysts include: German Unemployment Change (Apr) (3:55 AM ET), UK Construction PMI (Apr) (4:30 AM ET), US ADP Non-Farm Employment Change (Apr) (8:15 AM ET), US ISM Non-Manufacturing PMI (Apr) (10:00 AM ET), US Crude Oil Inventories (10:30 AM ET).