Daily Market News: August 12, 2014
August 12, 2014 12:10 pmVideo
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August 12, 2014 – Daily Market News
On Forex market we found very interesting movement. The European single currency dropped down immediately as the (German) ZEW Economic Sentiment came out and showed very disappointing result. The German index showed just 8.6 instead of expected 18.2. The overall European Economic Sentiment came out 23.7 instead of 41.3. The pair reached almost the lowest price since November 2013. The fact that this leading index point on slower peace of economic recovery would probably cause the European Central back to add additional monetary stimulus. Therefore the Euro outlook right now is bearish.
Stock market has been slightly struggling today after the market closed with profit yesterday. Most of the European stock indices has been declining and in time of writing the DAX was down by 0.48% and FTSE100 by 0.16%. We should keep an eye whether U.S. market will turn the bearish sentiment.
Commodities has remained without higher volatility. Price of Crude Oil WTI slid to $97.00/barrel and Gold slightly increase above $1,210/ounce.
Today’s main events:
09.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook
14.00 GMT: USD – JOLTS Job Openings – Number of job openings during the reported month, excluding the farming industry
23.50 GMT: JPY– Prelim GDP – measures the change in the inflation-adjusted value of all goods and services produced by the economy
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