Spreadex Market Update
Chinese equities led Asian markets
Political turmoil in Egypt and shrinking US stockpiles sent Crude oil rallying above $100 a barrel for the first time in nine months. Crude surged 2.1% to $101.62 a barrel in Tokyo overnight.
ADP non-farm employment change is forecasted to come in better than the previous month whilst unemployment claims has been brought forward a day due to the Independence Day holiday in the US tomorrow. With a report earlier this week showing the manufacturing sector lost jobs for the first time since 2009, investors will focus on the ISM non-manufacturing PMI to see if the service sector suffered the same fate. Despite this, analysts are forecasting a higher figure than last month.
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