U.S. stocks dropped with the Dow Jones trading negative for the year. Declines came as concerns over escalating tension in Ukraine rose following comments from the Polish Foreign Minister who stated that Russia has gathered military forces on the Ukrainian border. At session close the S&P 500 was 0.97% lower and the Dow Jones was 0.84% lower. Asian markets declined across the region. The Nikkei lost 1.05% as the Dollar declined against the Yen. The Hang Seng lost 0.26% following U.S. sentiment and losses in financial and energy companies. European markets are lower for a fifth time today as traders closely watch Ukraine. Currently, the DAX is down 1.63% while France’s CAC 40 is off 1.18% and London’s FTSE 100 is lower by 1.13%.
WTI Crude dropped to a 6 month low due to speculation that refineries will lower production. However, once inventories were released from the API and showed a 5.5 million barrel decline the price rebounded upwards. The EIA will release a separate report today at 2.30pm GMT. Gold declined after positive U.S data. The ISM Non- Manufacturing PMI and Factory Orders both came out better than expected increasing the outlook for the U.S. economy. However, following increasing tension in Ukraine where Russian troops prepared for a possible invasion, the price began to climb. Traders should remain up to date with U.S. data and with any geopolitical developments as these will dictate the direction of the markets.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing Production – Change in the total inflation-adjusted value of output produced by manufacturers
12.30 GMT: USD – Trade Balance – Difference in value between imported and exported goods during the reported month
14.30 GMT: Oil – Crude Oil Inventories – Change in the number of barrels of crude oil held in inventory by commercial firms during the past week
August 6, 2014 – Daily Market News
Today’s Hot Assets: USD, Oil, Gold
U.S. stocks dropped with the Dow Jones trading negative for the year. Declines came as concerns over escalating tension in Ukraine rose following comments from the Polish Foreign Minister who stated that Russia has gathered military forces on the Ukrainian border. At session close the S&P 500 was 0.97% lower and the Dow Jones was 0.84% lower. Asian markets declined across the region. The Nikkei lost 1.05% as the Dollar declined against the Yen. The Hang Seng lost 0.26% following U.S. sentiment and losses in financial and energy companies. European markets are lower for a fifth time today as traders closely watch Ukraine. Currently, the DAX is down 1.63% while France’s CAC 40 is off 1.18% and London’s FTSE 100 is lower by 1.13%.
WTI Crude dropped to a 6 month low due to speculation that refineries will lower production. However, once inventories were released from the API and showed a 5.5 million barrel decline the price rebounded upwards. The EIA will release a separate report today at 2.30pm GMT. Gold declined after positive U.S data. The ISM Non- Manufacturing PMI and Factory Orders both came out better than expected increasing the outlook for the U.S. economy. However, following increasing tension in Ukraine where Russian troops prepared for a possible invasion, the price began to climb. Traders should remain up to date with U.S. data and with any geopolitical developments as these will dictate the direction of the markets.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing Production – Change in the total inflation-adjusted value of output produced by manufacturers
12.30 GMT: USD – Trade Balance – Difference in value between imported and exported goods during the reported month
14.30 GMT: Oil – Crude Oil Inventories – Change in the number of barrels of crude oil held in inventory by commercial firms during the past week
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