U.S. stocks closed with little change after a choppy trading session. Losses were seen at the beginning of the session as markets continued to react to news that Russia has assembled troops across the Ukrainian border spiking fears that the global economy could be affected. However, once the positive trade balance data was released which narrowed to a 5 month low, stocks erased losses. At session close, the S&P 500 was even at 1,920.24 and the Dow Jones was 0.08% higher. Asian stocks were mixed during today’s session. The Nikkei climbed 0.48% as the Dollar gained against the Yen. The Hang Seng declined 0.83% following losses in casino stocks. European markets are lower today as traders turn hesitant ahead of the ECB interest rate decision today. There is a continuous risk of deflation in the Eurozone and investors are anxious to see which tools Draghi will implement, if any, to address the issue. Currently, the DAX is down 0.50% while France’s CAC 40 is off 0.38% and London’s FTSE 100 is lower by 0.28%.
WTI crude gained immediately after the EIA reported that supplies fell by 1.8 million barrels during the past week. However, the price then dropped as investors turned their attention to trade data which will be released from China tonight. Gold climbed as its appeal as a safe haven asset increased due to developments between Ukraine and Russia. The price increased further when Russia announced bans on imports from countries which have implemented sanctions. The ECB rate and press conference should produce some great short term trading opportunities.
Today’s Main Events:
11.00 GMT: GBP – Interest Rate Decision – Bank of England (BOE) monetary policy committee members vote on where to set the rate
11.45 GMT: EUR – Interest Rate Decision– The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate
12.30 GMT: EUR – ECB Press Conference – The European Central Bank (ECB) press conference is held monthly, about 45 minutes after the Minimum Bid Rate is announced
14.00 GMT: CAD – Ivey PMI – The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada
August 7, 2014 – Daily Market News
Today’s Hot Asset: EUR
U.S. stocks closed with little change after a choppy trading session. Losses were seen at the beginning of the session as markets continued to react to news that Russia has assembled troops across the Ukrainian border spiking fears that the global economy could be affected. However, once the positive trade balance data was released which narrowed to a 5 month low, stocks erased losses. At session close, the S&P 500 was even at 1,920.24 and the Dow Jones was 0.08% higher. Asian stocks were mixed during today’s session. The Nikkei climbed 0.48% as the Dollar gained against the Yen. The Hang Seng declined 0.83% following losses in casino stocks. European markets are lower today as traders turn hesitant ahead of the ECB interest rate decision today. There is a continuous risk of deflation in the Eurozone and investors are anxious to see which tools Draghi will implement, if any, to address the issue. Currently, the DAX is down 0.50% while France’s CAC 40 is off 0.38% and London’s FTSE 100 is lower by 0.28%.
WTI crude gained immediately after the EIA reported that supplies fell by 1.8 million barrels during the past week. However, the price then dropped as investors turned their attention to trade data which will be released from China tonight. Gold climbed as its appeal as a safe haven asset increased due to developments between Ukraine and Russia. The price increased further when Russia announced bans on imports from countries which have implemented sanctions. The ECB rate and press conference should produce some great short term trading opportunities.
Today’s Main Events:
11.00 GMT: GBP – Interest Rate Decision – Bank of England (BOE) monetary policy committee members vote on where to set the rate
11.45 GMT: EUR – Interest Rate Decision– The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate
12.30 GMT: EUR – ECB Press Conference – The European Central Bank (ECB) press conference is held monthly, about 45 minutes after the Minimum Bid Rate is announced
14.00 GMT: CAD – Ivey PMI – The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada
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