During the early trading session, Asian stocks traded higher as investors await earnings reports from major automakers and electronics manufacturers. Forecasts for Toyota predict EPS for the quarter is $2.59, up from the EPS for the same quarter last year, profits are also expected for Nissan Motor Corporation. The Nikkei share average was up 1.4%, closing at 19,909. Following the Reserve Bank of Australia Meeting Minutes, the AUD strengthened against a basket of major currencies. Official board members had voted to keep the current interest rate unchanged and acknowledged that the current monetary policy is supporting the economy.
At the open of the European trading session, the Euro traded lower as Greek concerns continued to weigh on sentiment. Greece is yet to reach an agreement on the current bailout with its creditors, if economic reforms are not laid out, then the country counld go into default. Following mixed European data the EUR/USD is trading with high volatility and bullish sentiment. The German ZEW Economic Sentiment came out negative with a reading of 53.3, lower than the expected figure of 55.3, however, the Eurozone ZEW Economic Sentiment showed a higher than expected reading of 64.8. The pair is currently trading above 1.073.
During early U.S. trade, the Dollar rallied against the CAD following negative data from Canada. The Wholesale sales for the month of February showed a sharp decline of 0.4%, analysts had expected a rise of 0.5%.
Traders are awaiting a number of important releases tomorrow, including, the Australian first quarterly CPI figures, the UK BoE MPC Meeting Minutes and the U.S. monthly Existing Home Sales.
Daily Market News April 21st 2015
During the early trading session, Asian stocks traded higher as investors await earnings reports from major automakers and electronics manufacturers. Forecasts for Toyota predict EPS for the quarter is $2.59, up from the EPS for the same quarter last year, profits are also expected for Nissan Motor Corporation. The Nikkei share average was up 1.4%, closing at 19,909. Following the Reserve Bank of Australia Meeting Minutes, the AUD strengthened against a basket of major currencies. Official board members had voted to keep the current interest rate unchanged and acknowledged that the current monetary policy is supporting the economy.
At the open of the European trading session, the Euro traded lower as Greek concerns continued to weigh on sentiment. Greece is yet to reach an agreement on the current bailout with its creditors, if economic reforms are not laid out, then the country counld go into default. Following mixed European data the EUR/USD is trading with high volatility and bullish sentiment. The German ZEW Economic Sentiment came out negative with a reading of 53.3, lower than the expected figure of 55.3, however, the Eurozone ZEW Economic Sentiment showed a higher than expected reading of 64.8. The pair is currently trading above 1.073.
During early U.S. trade, the Dollar rallied against the CAD following negative data from Canada. The Wholesale sales for the month of February showed a sharp decline of 0.4%, analysts had expected a rise of 0.5%.
Traders are awaiting a number of important releases tomorrow, including, the Australian first quarterly CPI figures, the UK BoE MPC Meeting Minutes and the U.S. monthly Existing Home Sales.
Main Events (GMT)
10:00 -EUR- German ZEW Economic Sentiment (Apr)
10:00 -EUR- ZEW Economic Sentiment
13:30 -CAD- Wholesale Sales (MoM) (Feb)
21:30 -USD- API Weekly Crude Stock
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