During today’s early trading session, Asian markets traded higher after the release of Japanese data showing a positive trade balance and increased exports. During the BoJ monthly report, officials indicated mild concerns over the future outlook of the economy and the weakening Yen, and in turn drove investors towards the stock market. The Nikkei share average reached a fresh 15 year high, and was up by 0.37% closing at 18,322. Asian markets are today closed due to the Chinese and Lunar New Year.
During the European session, the Euro continued to trade lower, and has reached its lowest level in ten days against the Dollar. This decline came as Germany released a number of negative economic reports. The German PPI showed a -0.6% decline and more importantly the German Manufacturing PMI remained the same at 50.9, lower than the expected figure of 51.5. European stocks were also lower as concerns over Greece continued to dominate the markets, the current €240 billion debt bailout is due to expire on February 28th, if an extension is not reached by that date, it could cause the nations exit from the European Union. France’s CAC 40 is down by 0.58% and DAX slightly lower by 0.04%.
During early U.S. trade the Dollar Index is trading cautiously after policy makers on Wednesday stated on that rate hikes will be delayed till later in the year, furthermore, mixed U.S. data released yesterday showed that the Philadelphia Federal Reserve Manufacturing Index was significantly lower than the expected figure of 9.3, on the other hand the number of individuals who filed for unemployment insurance for the first time during the past week dropped to 283,000. Following the release of data from Canada, the CAD dropped against a basket of major currencies. The monthly Core Retail sales showed a sharp decline of 2.3%.
February 20, 2015- Daily Market News
During today’s early trading session, Asian markets traded higher after the release of Japanese data showing a positive trade balance and increased exports. During the BoJ monthly report, officials indicated mild concerns over the future outlook of the economy and the weakening Yen, and in turn drove investors towards the stock market. The Nikkei share average reached a fresh 15 year high, and was up by 0.37% closing at 18,322. Asian markets are today closed due to the Chinese and Lunar New Year.
During the European session, the Euro continued to trade lower, and has reached its lowest level in ten days against the Dollar. This decline came as Germany released a number of negative economic reports. The German PPI showed a -0.6% decline and more importantly the German Manufacturing PMI remained the same at 50.9, lower than the expected figure of 51.5. European stocks were also lower as concerns over Greece continued to dominate the markets, the current €240 billion debt bailout is due to expire on February 28th, if an extension is not reached by that date, it could cause the nations exit from the European Union. France’s CAC 40 is down by 0.58% and DAX slightly lower by 0.04%.
During early U.S. trade the Dollar Index is trading cautiously after policy makers on Wednesday stated on that rate hikes will be delayed till later in the year, furthermore, mixed U.S. data released yesterday showed that the Philadelphia Federal Reserve Manufacturing Index was significantly lower than the expected figure of 9.3, on the other hand the number of individuals who filed for unemployment insurance for the first time during the past week dropped to 283,000. Following the release of data from Canada, the CAD dropped against a basket of major currencies. The monthly Core Retail sales showed a sharp decline of 2.3%.
Todays Main Events
8:30 GMT – EUR – German Manufacturing PMI
8:30 GMT – EUR – German Services PMI
9:00 GMT – EUR – Markit Composite PMI
9:00 GMT – EUR – Services PMI
9:30 GMT – GBP – Core Retail Sales
9:30 GMT – GBP – Retail sales
13:30 GMT – CAD – Core Retail sales
14:45 GMT – USD – Manufacturing PMI
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