Following Yellen’s positivity at the Jackson Hole Symposium, markets turned bullish. She noted that labour market conditions have improved but have yet to fully recover. The focus for the Fed will be assessing how far the economy is from their overall goals, which remains a difficult task. The Federal Reserve is leaning towards raising interest rates in 2015 which have remained close to 0 since 2008. The S&P 500 reached 2000 for the first time ever during the session but closed just below at 1,977.92 with an overall gain of 0.48%. The Dow Jones gained 0.44%. Asian markets declined across the region. The Nikkei declined 0.59% as the Dollar fell slightly, trading at ¥103.883 compared to ¥104.11 the previous day. The Hang Seng lost 0.37% after news a high speed rail connecting Hong Kong to mainland Chinese cities over ran budget. European markets are mixed today after rallying yesterday. Currently, The FTSE 100 is up 0.34% while the CAC 40 gains 0.23%. The DAX is off 0.06%.
WTI Crude fell from $93.80/barrel to $93.00/barrel after the release of disappointing U.S. housing data. The price is now increasing slightly before the American Petroleum Industry report which will be released at 8.30pm GMT. Traders should also pay attention to the U.S. data in the afternoon. Gold spiked as the European session opened. The low price seemed to encourage physical demand. Traders are also watching geopolitical tension and U.S. data which will be released later in the day.
Today’s Main Events:
12.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends.
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
August 26, 2014 – Daily Market News
Today’s Hot Assets: USD, Oil
Following Yellen’s positivity at the Jackson Hole Symposium, markets turned bullish. She noted that labour market conditions have improved but have yet to fully recover. The focus for the Fed will be assessing how far the economy is from their overall goals, which remains a difficult task. The Federal Reserve is leaning towards raising interest rates in 2015 which have remained close to 0 since 2008. The S&P 500 reached 2000 for the first time ever during the session but closed just below at 1,977.92 with an overall gain of 0.48%. The Dow Jones gained 0.44%. Asian markets declined across the region. The Nikkei declined 0.59% as the Dollar fell slightly, trading at ¥103.883 compared to ¥104.11 the previous day. The Hang Seng lost 0.37% after news a high speed rail connecting Hong Kong to mainland Chinese cities over ran budget. European markets are mixed today after rallying yesterday. Currently, The FTSE 100 is up 0.34% while the CAC 40 gains 0.23%. The DAX is off 0.06%.
WTI Crude fell from $93.80/barrel to $93.00/barrel after the release of disappointing U.S. housing data. The price is now increasing slightly before the American Petroleum Industry report which will be released at 8.30pm GMT. Traders should also pay attention to the U.S. data in the afternoon. Gold spiked as the European session opened. The low price seemed to encourage physical demand. Traders are also watching geopolitical tension and U.S. data which will be released later in the day.
Today’s Main Events:
12.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends.
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
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