The Fed Meeting Minutes were released yesterday showing a more dovish stance from the Federal Reserve. Most participants were in favor of an accommodative policy and lowered their GDP projection. They also believed that inflation is still below the 2% target and so rates will stay low for longer. Traders welcomed the news that the first interest-rate increase won’t happen until the second half of 2015 at the earliest and that when rates are raised, it will be done in a slow and measured way. The S&P 500 gained 1.09% and the Dow Jones gained 1.11%. Asian stocks also rose. The Hang Seng gained 1.51% after China announced that they are planning to link stock exchanges in the City and Shanghai. The Nikkei closed even at 14,300.12 as the Dollar made some gains against the Yen reaching ¥102.07 vs. ¥101.93 from about 24 hours earlier. European markers are mixed following a higher start. Currently, the FTSE 100 is up 0.21%, the DAX gains 0.08% but the CAC 40 is 0.25% lower.
Tension in Ukraine is sending WTI Crude higher. Russia has threatened a civil war as Ukraine has started to use force against protestors. The US is insisting that Russian agents are provoking the trouble and worries have surfaced that shipment of Russian oil could be affected. The geopolitical concerns have offset a bearish report from the EIA that showed inventories climbed. Gold climbed higher after the FOMC Meeting Minutes showed that there is no rush to raise interest rates in the US. Traders should watch the US Jobless Claims being released at 12.30pm (GMT).
Today’s Main Events:
08.00 GMT: EUR – ECB Monthly Report – The European Central Bank’s (ECB) monthly report contains the statistical data that policymakers evaluate when setting interest rates
11.00 GMT: GBP – Interest Rate Decision – Bank of England (BOE) monetary policy committee members vote on where to set the rate.
12.30 GMT: USD – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week
18.00 GMT: USD – Federal Budget Balance – measures the difference in value between the federal government’s income and expenditure during the reported month
April 10, 2014 – Daily Market News
Today’s Hot Assets: GBP, USD
The Fed Meeting Minutes were released yesterday showing a more dovish stance from the Federal Reserve. Most participants were in favor of an accommodative policy and lowered their GDP projection. They also believed that inflation is still below the 2% target and so rates will stay low for longer. Traders welcomed the news that the first interest-rate increase won’t happen until the second half of 2015 at the earliest and that when rates are raised, it will be done in a slow and measured way. The S&P 500 gained 1.09% and the Dow Jones gained 1.11%. Asian stocks also rose. The Hang Seng gained 1.51% after China announced that they are planning to link stock exchanges in the City and Shanghai. The Nikkei closed even at 14,300.12 as the Dollar made some gains against the Yen reaching ¥102.07 vs. ¥101.93 from about 24 hours earlier. European markers are mixed following a higher start. Currently, the FTSE 100 is up 0.21%, the DAX gains 0.08% but the CAC 40 is 0.25% lower.
Tension in Ukraine is sending WTI Crude higher. Russia has threatened a civil war as Ukraine has started to use force against protestors. The US is insisting that Russian agents are provoking the trouble and worries have surfaced that shipment of Russian oil could be affected. The geopolitical concerns have offset a bearish report from the EIA that showed inventories climbed. Gold climbed higher after the FOMC Meeting Minutes showed that there is no rush to raise interest rates in the US. Traders should watch the US Jobless Claims being released at 12.30pm (GMT).
Today’s Main Events:
08.00 GMT: EUR – ECB Monthly Report – The European Central Bank’s (ECB) monthly report contains the statistical data that policymakers evaluate when setting interest rates
11.00 GMT: GBP – Interest Rate Decision – Bank of England (BOE) monetary policy committee members vote on where to set the rate.
12.30 GMT: USD – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week
18.00 GMT: USD – Federal Budget Balance – measures the difference in value between the federal government’s income and expenditure during the reported month
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