During today’s early trading session, Asian markets traded higher following the Bank of Japan’s press conference. BoJ officials upgraded its assessment of exports and factory output due to the weaker Yen. The Nikkei share average reached a fresh 8 year high and was up by 1.18%, closing at 18,199. The Yen was little changed against a basket of major currencies after the BoJ voted to keep interest rates unchanged as the Japanese economy is expected to continue to make a moderate economic recovery. Japan is to release a number of economic reports later this evening, including the adjusted Trade balance and yearly Exports.
During the European session, the British Pound rallied against the Dollar after a number of strong economic reports. The Average earnings Index in the UK rose by 2.1%, higher than the expected reading of 1.7%, the Claimant Count change showed a strong reading of -38.6k and the unemployment rate dropped to 5.7%, below the forecast figure of 5.8%. The GBP/USD is currently trading above 1.542, its highest level in a month. The UK is to release the CBI Industrial Trends Orders at 11:00 GMT tomorrow.
During today’s early U.S. session, the Dollar traded cautiously against a basket of major currencies due to the ongoing debt situation in Greece. Greece is expected to reach a deal before the current bailout expires on February 28th. Furthermore, a number of negative economic reports were released at the open of the U.S. session, including new Building Permits and the Producer Price Index showed a decline of -0.8%, the expected figure was a decline of -0.4%. American stocks are trading lower ahead of the FOMC meeting minutes later today, currency traders will listen closely for any clues on future interest rate decisions. The S&P is down 0.18% and DOW Industrial down 0.15%
February 18, 2015- Daily Market News
During today’s early trading session, Asian markets traded higher following the Bank of Japan’s press conference. BoJ officials upgraded its assessment of exports and factory output due to the weaker Yen. The Nikkei share average reached a fresh 8 year high and was up by 1.18%, closing at 18,199. The Yen was little changed against a basket of major currencies after the BoJ voted to keep interest rates unchanged as the Japanese economy is expected to continue to make a moderate economic recovery. Japan is to release a number of economic reports later this evening, including the adjusted Trade balance and yearly Exports.
During the European session, the British Pound rallied against the Dollar after a number of strong economic reports. The Average earnings Index in the UK rose by 2.1%, higher than the expected reading of 1.7%, the Claimant Count change showed a strong reading of -38.6k and the unemployment rate dropped to 5.7%, below the forecast figure of 5.8%. The GBP/USD is currently trading above 1.542, its highest level in a month. The UK is to release the CBI Industrial Trends Orders at 11:00 GMT tomorrow.
During today’s early U.S. session, the Dollar traded cautiously against a basket of major currencies due to the ongoing debt situation in Greece. Greece is expected to reach a deal before the current bailout expires on February 28th. Furthermore, a number of negative economic reports were released at the open of the U.S. session, including new Building Permits and the Producer Price Index showed a decline of -0.8%, the expected figure was a decline of -0.4%. American stocks are trading lower ahead of the FOMC meeting minutes later today, currency traders will listen closely for any clues on future interest rate decisions. The S&P is down 0.18% and DOW Industrial down 0.15%
Todays Main Events
9:30 GMT – GBP Average Earnings Index
9:30 GMT – GBP – Claimant Count Change
9:30 GMT – GBP – BoE MPC Meeting Minutes
13:30 GMT – USD – Building Permits
13:30 GMT – USD – PPI
19:00 GMT – USD – FOMC Meeting Minutes
21:45 GMT – NZD – PPI Input
23:50 GMT – JPY – Adjusted Trade balance
23:50 GMT – JPY – Exports
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