U.S markets closed lower after a choppy session. Investors became anxious with the threat of falling oil prices and a strong devaluation of the Russian Ruble. Attention will now turn to today’s FOMC statement at the conclusion of a 2 day meeting. At session close the S&P 500 was 0.85% lower and the Dow Jones was 0.65% lower. Asian markets were mixed across the region. The Nikkei added 0.38% as the Japanese Trade Balance came out strong and showed a lower than expected deficit of 892 billion. The Hang Seng lost 0.42% as sentiment spilled over from the U.S session and investors focused on Russia and the FOMC statement. European markets are lower today ahead of the first round of elections in Greece. Currently, the FTSE 100 is down 0.66% while Germany’s DAX is off 0.48% and France’s CAC 40 is lower by 0.45%.
Yesterday, WTI Crude reached a new low of $53.6/barrel. Prices plunged on worries over Russia and weak data from China. Volatility was high and later in the session the price managed to rebound upwards following strong European data and speculation that the price had dropped too strongly. The API released data showing that inventories climbed by 1.9million barrels over the past week. The EIA will release government data at 3.30PM (GMT) today. Gold traded with high volatility and climbed as traders flocked to safe haven assets following the Rubles collapse. The price reversed back down, however, as the FOMC statement moves closer. Traders want to learn whether the Fed will repeat that rates will remain low for a ‘considerable time’ or instead provide an estimated date.
Today’s Main Events:
09.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
10.00 GMT: EUR – CPI -measures the change in the price of goods and services from the perspective of the consumer.
13.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
19.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy.
21.45 GMT: NZD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
December 17, 2014 – Daily Market News
Today’s Hot Assets: USD, Yen, Ruble
U.S markets closed lower after a choppy session. Investors became anxious with the threat of falling oil prices and a strong devaluation of the Russian Ruble. Attention will now turn to today’s FOMC statement at the conclusion of a 2 day meeting. At session close the S&P 500 was 0.85% lower and the Dow Jones was 0.65% lower. Asian markets were mixed across the region. The Nikkei added 0.38% as the Japanese Trade Balance came out strong and showed a lower than expected deficit of 892 billion. The Hang Seng lost 0.42% as sentiment spilled over from the U.S session and investors focused on Russia and the FOMC statement. European markets are lower today ahead of the first round of elections in Greece. Currently, the FTSE 100 is down 0.66% while Germany’s DAX is off 0.48% and France’s CAC 40 is lower by 0.45%.
Yesterday, WTI Crude reached a new low of $53.6/barrel. Prices plunged on worries over Russia and weak data from China. Volatility was high and later in the session the price managed to rebound upwards following strong European data and speculation that the price had dropped too strongly. The API released data showing that inventories climbed by 1.9million barrels over the past week. The EIA will release government data at 3.30PM (GMT) today. Gold traded with high volatility and climbed as traders flocked to safe haven assets following the Rubles collapse. The price reversed back down, however, as the FOMC statement moves closer. Traders want to learn whether the Fed will repeat that rates will remain low for a ‘considerable time’ or instead provide an estimated date.
Today’s Main Events:
09.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
10.00 GMT: EUR – CPI -measures the change in the price of goods and services from the perspective of the consumer.
13.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
19.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy.
21.45 GMT: NZD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
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