Markets continued to react to Wednesday’s FOMC statement and press conference. The S&P 500 closed 2.4% higher, jumping 48.34 points to 2,061.23. The Dow Jones closed 2.43% higher, jumping 421 points to 17,778.15. Asian markets also rallied. The Nikkei closed 2.39% higher as the Dollar moved higher against the Yen. The Bank of Japan also gave a press conference in which they reported that they would be making no changes to monetary policy. Kuroda mentioned that falling oil prices could benefit the economy by supporting consumer spending and manufacturing profits. The Hang Seng closed 1.25% higher as traders followed the direction from other markets. European markets are mixed today. Stocks were originally higher after more positive data from Germany. Sentiment changed, however, and currently the DAX is down 0.57% and the CAC 40 is down 0.46%. The FTSE 100 is 0.28% higher with Tesco up 3.38% and Tullow Oil up 2.59%.
WTI Crude climbed yesterday but bounced off its resistance level at $59/barrel. The price is now ranging around $55/barrel. Uncertainty has entered the market and inventory data showed that supplies were higher than expected. Gold is ranging around $1,198.00. The price gained as investors flocked to safe haven assets following the Russian interest hike to 17%. However, the price fell back down as the Russian central bank reportedly sold off foreign currencies and considered selling Gold reserves. The stock market rally also pushed the value down. Volatility is expected to be low for both commodities today as no important data will be released and we are nearing the weekend.
Today’s Main Events:
07.00 GMT: EUR – German PPI – measures the change in the price of goods sold by manufacturers
07.00 GMT: EUR – GfK German Consumer Climate – measures the level of consumer confidence in economic activity
14.00 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy
14.00 GMT: CAD – Retail Sales -measure the change in the total value of inflation-adjusted sales at the retail level.
December 19, 2014 – Daily Market News
Today’s Hot Asset: CAD
Markets continued to react to Wednesday’s FOMC statement and press conference. The S&P 500 closed 2.4% higher, jumping 48.34 points to 2,061.23. The Dow Jones closed 2.43% higher, jumping 421 points to 17,778.15. Asian markets also rallied. The Nikkei closed 2.39% higher as the Dollar moved higher against the Yen. The Bank of Japan also gave a press conference in which they reported that they would be making no changes to monetary policy. Kuroda mentioned that falling oil prices could benefit the economy by supporting consumer spending and manufacturing profits. The Hang Seng closed 1.25% higher as traders followed the direction from other markets. European markets are mixed today. Stocks were originally higher after more positive data from Germany. Sentiment changed, however, and currently the DAX is down 0.57% and the CAC 40 is down 0.46%. The FTSE 100 is 0.28% higher with Tesco up 3.38% and Tullow Oil up 2.59%.
WTI Crude climbed yesterday but bounced off its resistance level at $59/barrel. The price is now ranging around $55/barrel. Uncertainty has entered the market and inventory data showed that supplies were higher than expected. Gold is ranging around $1,198.00. The price gained as investors flocked to safe haven assets following the Russian interest hike to 17%. However, the price fell back down as the Russian central bank reportedly sold off foreign currencies and considered selling Gold reserves. The stock market rally also pushed the value down. Volatility is expected to be low for both commodities today as no important data will be released and we are nearing the weekend.
Today’s Main Events:
07.00 GMT: EUR – German PPI – measures the change in the price of goods sold by manufacturers
07.00 GMT: EUR – GfK German Consumer Climate – measures the level of consumer confidence in economic activity
14.00 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy
14.00 GMT: CAD – Retail Sales -measure the change in the total value of inflation-adjusted sales at the retail level.
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