U.S. stocks rose slightly as investors assessed earnings and geopolitical tension. Data has been consistently positive from the U.S. but nothing major was released yesterday. The S&P 500 remained above its record level of 2000 and closed even, the Dow Jones added 0.09% closing at 17,122.01. Asian markets declined across the region. The Nikkei lost 0.48% as the Dollar declined against the Yen, with the Dollar currently trading at ¥103.7. The Hang Seng lost 0.71%. European markets are lower today after the German Unemployment Rate came out below expectations. Attention will now turn to U.S. data including Pending Home Sales and GDP. Currently, the FTSE 100 is 0.45% lower. The CAC 40 is 0.89% lower and the DAX is 1.41% lower.
WTI Crude dropped to $93.80/ barrel yesterday. The decline came after a report from the EIA showed crude supplies declined by 2.1 million barrels which is lower than the expected decline of 2.5million barrels. The price is now climbing ahead of U.S. data so make sure to watch both releases today. Gold is climbing as tension in Ukraine is increasing, spurring demand for the safe haven asset. Gains may be limited however, as the U.S. data is expected to be positive. Any positive data may add further reasons for the Fed to increase interest rates sooner than expected.
Today’s Main Events:
08.00 GMT: EUR – German Unemployment Change – measures the change in the number of unemployed people during the previous month.
12.30 GMT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
23.30 GMT: JPY – Tokyo Core CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food.
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
August 28, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks rose slightly as investors assessed earnings and geopolitical tension. Data has been consistently positive from the U.S. but nothing major was released yesterday. The S&P 500 remained above its record level of 2000 and closed even, the Dow Jones added 0.09% closing at 17,122.01. Asian markets declined across the region. The Nikkei lost 0.48% as the Dollar declined against the Yen, with the Dollar currently trading at ¥103.7. The Hang Seng lost 0.71%. European markets are lower today after the German Unemployment Rate came out below expectations. Attention will now turn to U.S. data including Pending Home Sales and GDP. Currently, the FTSE 100 is 0.45% lower. The CAC 40 is 0.89% lower and the DAX is 1.41% lower.
WTI Crude dropped to $93.80/ barrel yesterday. The decline came after a report from the EIA showed crude supplies declined by 2.1 million barrels which is lower than the expected decline of 2.5million barrels. The price is now climbing ahead of U.S. data so make sure to watch both releases today. Gold is climbing as tension in Ukraine is increasing, spurring demand for the safe haven asset. Gains may be limited however, as the U.S. data is expected to be positive. Any positive data may add further reasons for the Fed to increase interest rates sooner than expected.
Today’s Main Events:
08.00 GMT: EUR – German Unemployment Change – measures the change in the number of unemployed people during the previous month.
12.30 GMT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
23.30 GMT: JPY – Tokyo Core CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food.
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
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