Markets were boosted yesterday following better than expected GDP data from China. U.S. stocks rallied after an upbeat industrial production report and as companies such as Yahoo reported better than expected earnings. Sentiment was boosted further after Federal Reserve Chairwoman Janet Yellen, spoke yesterday at the Economic Club of New York and reiterated that the direction of interest rates would be based on employment and inflation. The S&P 500 closed 1.05% higher and the Dow Jones closed 1% higher. Asian stocks were mixed during today’s session. The Hang Seng gained 0.28%, still benefiting from the Chinese GDP data. The Nikkei finished even as the yen strengthened for the first time in five days against the US Dollar. European markets are mixed as investors are monitoring diplomatic talks in Geneva about the crisis in Ukraine. The CAC 40 is higher by 0.04%, while the FTSE 100 is leading the DAX lower. They are down 0.21% and 0.14% respectively.
After rising yesterday due to political unrest in Ukraine, WTI Crude is trading choppy. During talks in Geneva, President Obama threatened further sanctions on Russia if they continue to use force in Ukraine. In Libya, an oil tanker began to load crude in preparation to export it for the first time since July. Gold declined slightly during the Asian session after the US released positive data. The Beige book also stated that the economy picked up as weather conditions improved. Traders should stay focused on the situation in Ukraine as this could put some upwards pressure on the price.
Today’s Main Events:
06.00 GMT: EUR – German PPI – measures the change in the price of goods sold by manufacturers.
12.30 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
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.
14.00 GMT: USD – Philadelphia Fed Manufacturing Index – rates the relative level of general business conditions in Philadelphia.
April 17, 2014 – Daily Market News
Today’s Hot Assets: CAD, USD
Markets were boosted yesterday following better than expected GDP data from China. U.S. stocks rallied after an upbeat industrial production report and as companies such as Yahoo reported better than expected earnings. Sentiment was boosted further after Federal Reserve Chairwoman Janet Yellen, spoke yesterday at the Economic Club of New York and reiterated that the direction of interest rates would be based on employment and inflation. The S&P 500 closed 1.05% higher and the Dow Jones closed 1% higher. Asian stocks were mixed during today’s session. The Hang Seng gained 0.28%, still benefiting from the Chinese GDP data. The Nikkei finished even as the yen strengthened for the first time in five days against the US Dollar. European markets are mixed as investors are monitoring diplomatic talks in Geneva about the crisis in Ukraine. The CAC 40 is higher by 0.04%, while the FTSE 100 is leading the DAX lower. They are down 0.21% and 0.14% respectively.
After rising yesterday due to political unrest in Ukraine, WTI Crude is trading choppy. During talks in Geneva, President Obama threatened further sanctions on Russia if they continue to use force in Ukraine. In Libya, an oil tanker began to load crude in preparation to export it for the first time since July. Gold declined slightly during the Asian session after the US released positive data. The Beige book also stated that the economy picked up as weather conditions improved. Traders should stay focused on the situation in Ukraine as this could put some upwards pressure on the price.
Today’s Main Events:
06.00 GMT: EUR – German PPI – measures the change in the price of goods sold by manufacturers.
12.30 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
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.
14.00 GMT: USD – Philadelphia Fed Manufacturing Index – rates the relative level of general business conditions in Philadelphia.
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