Bad weather in the US continues to slow the economic recovery and to affect data negatively. Mixed data was again released on Friday but a positive consumer sentiment report surprised many investors. After opening lower, stocks regained some ground as investors dismissed other pieces of data and hooped for stronger results in the future. At the close of U.S. trading, the Dow Jones Industrial Average had gained 0.79% and the S&P 500 index had gained 0.48%. Asian stocks climbed after China’s credit increased to a record in January. The Nikkei closed 0.56% higher and the Hang Seng closed 1% higher. European stocks have opened higher after data showed both yearly and quarterly Eurozone GDP increased and beat expectations. During early trade, the EURO STOXX 50 added 0.19%, France’s CAC 40 added 0.07% higher and Germany’s DAX 30 added up 0.04%.
WTI is climbing due to signs of an improving economy and bad weather in the US. The credit growth in China and positive GDP figures from Europe have led to speculation that demand for oil could increase, boosting prices. After reaching a 3 month high last week, gold saw further gains during the Asian session. The metal has been increasing due to bad data points from the US and speculation that future tapering may be paused after Yellens dovish comments. Focus will be on the FOMC Meeting Minutes which will be released on Wednesday at 7pm (GMT). Today the US market is closed for Washington ’s Birthday and the Canadian market is closed for Family Day so trading volume may be lower.
February 17, 2014 – Daily Market News
Today’s Hot Asset: GBP/USD
Bad weather in the US continues to slow the economic recovery and to affect data negatively. Mixed data was again released on Friday but a positive consumer sentiment report surprised many investors. After opening lower, stocks regained some ground as investors dismissed other pieces of data and hooped for stronger results in the future. At the close of U.S. trading, the Dow Jones Industrial Average had gained 0.79% and the S&P 500 index had gained 0.48%. Asian stocks climbed after China’s credit increased to a record in January. The Nikkei closed 0.56% higher and the Hang Seng closed 1% higher. European stocks have opened higher after data showed both yearly and quarterly Eurozone GDP increased and beat expectations. During early trade, the EURO STOXX 50 added 0.19%, France’s CAC 40 added 0.07% higher and Germany’s DAX 30 added up 0.04%.
WTI is climbing due to signs of an improving economy and bad weather in the US. The credit growth in China and positive GDP figures from Europe have led to speculation that demand for oil could increase, boosting prices. After reaching a 3 month high last week, gold saw further gains during the Asian session. The metal has been increasing due to bad data points from the US and speculation that future tapering may be paused after Yellens dovish comments. Focus will be on the FOMC Meeting Minutes which will be released on Wednesday at 7pm (GMT). Today the US market is closed for Washington ’s Birthday and the Canadian market is closed for Family Day so trading volume may be lower.
There are no main trading events today.
Related Posts: