During the early trading session, Asian stocks traded lower, as investors cashed out on profits. The Nikkei share average slid lower after reaching a fresh 15 year high earlier this week, the Index was down 0.83%, closing at 20,020 points. The Yen continued to weigh against the Dollar following the release of the Corporate Service Price Index. The report showed that the price of goods sold by corporations rose 3.2%, slightly lower than the expected figure of 3.3%.
At the open of the European session, the Euro surged against the Dollar following the release of positive German data. The German Ifo Business Climate showed a reading of 108.6, higher than the expected figure of 108.4. Furthermore, the German Current Assessment for the month of April beat expectations with a rate of 113.9, analysts had forecast a reading of 112.4.
The Dollar remained under pressure against a basket of major currencies following yesterdays negative data releases from the United States. The Initial Jobless claims, Manufacturing PMI and the New Home Sales all showed lower than expected figures adding to concerns over a delayed interest rate hike. Currency traders are currently awaiting the release of the U.S. Core Durable Goods orders later today, a worse than expected figure could weaken the Dollar further.
U.S. Oil continues to trade close to yesterday’s high of $58/barrel. The price of the commodity rose $2 the previous day as fighting in Yemen continued. Furthermore, data on Wednesday showed that U.S. Crude Oil Inventories rose by 5.315M, indicating production has reached its peak. A slowdown in production will affect the supply and prices could again begin to rise.
Main Events (GMT)
09:00 -EUR- German Business Expectations (Apr) 09:00 -EUR- German Current Assessment (Apr) 09:00 -EUR- German Ifo Business Climate Index (Apr) 13:30 -USD- Core Durable Goods Orders (MoM) (Mar) 13:30 -USD- Durable Goods Orders (MoM) (Mar) 15:30 -CAD- BoC Gov Poloz Speaks 20:30 -GBP- CFTC GBP speculative net positions 20:30 -USD- CFTC Gold speculative net positions
April 24, 2015 – Daily Market News
During the early trading session, Asian stocks traded lower, as investors cashed out on profits. The Nikkei share average slid lower after reaching a fresh 15 year high earlier this week, the Index was down 0.83%, closing at 20,020 points. The Yen continued to weigh against the Dollar following the release of the Corporate Service Price Index. The report showed that the price of goods sold by corporations rose 3.2%, slightly lower than the expected figure of 3.3%.
At the open of the European session, the Euro surged against the Dollar following the release of positive German data. The German Ifo Business Climate showed a reading of 108.6, higher than the expected figure of 108.4. Furthermore, the German Current Assessment for the month of April beat expectations with a rate of 113.9, analysts had forecast a reading of 112.4.
The Dollar remained under pressure against a basket of major currencies following yesterdays negative data releases from the United States. The Initial Jobless claims, Manufacturing PMI and the New Home Sales all showed lower than expected figures adding to concerns over a delayed interest rate hike. Currency traders are currently awaiting the release of the U.S. Core Durable Goods orders later today, a worse than expected figure could weaken the Dollar further.
U.S. Oil continues to trade close to yesterday’s high of $58/barrel. The price of the commodity rose $2 the previous day as fighting in Yemen continued. Furthermore, data on Wednesday showed that U.S. Crude Oil Inventories rose by 5.315M, indicating production has reached its peak. A slowdown in production will affect the supply and prices could again begin to rise.
Main Events (GMT)
09:00 -EUR- German Business Expectations (Apr)
09:00 -EUR- German Current Assessment (Apr)
09:00 -EUR- German Ifo Business Climate Index (Apr)
13:30 -USD- Core Durable Goods Orders (MoM) (Mar)
13:30 -USD- Durable Goods Orders (MoM) (Mar)
15:30 -CAD- BoC Gov Poloz Speaks
20:30 -GBP- CFTC GBP speculative net positions
20:30 -USD- CFTC Gold speculative net positions
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