Market Overview

FxPro Daily Insight for February 3

Market overview Shanghai markets opened after a long weekend flew down more than 8% to offset the earlier world indices decline in the previous days. However, today most stock indexes are in the green zone in response to new China stimulus. In general, there is a decrease in craving for defensive assets, although purchases of “risks” are very cautious.

Gold lost 1% before the US market open today; Brent has been gaining support on Monday on the dips below $56. GBPUSD slid 1.1% to 1.3050 after an exchange of harsh comments between the UK and the EU officials regarding trade negotiations. A new round of controversy surrounding Brexit is open.

Important events (GMT): 01:45 Cn !! Markit Manufacturing PMI 09:00 EA !! Manufacturing PMI 09:30 UK !! Manufacturing PMI 15:00 US !!! ISM Manufacturing PMI 18:00 EA !! ECB President Christine Lagarde Speaks

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