The U.S. stock market finished yesterday in positive numbers. The mood on the market was spurred Markit data which showed that US manufacturing activity index for February stood at 56.7, the highest since May 2010. With the bullish sentiment opened the European stock and the FTSE already adding +0.24%.
The EUR/USD pair fell down yesterday in the morning once the German Manufacturing PMI was released. The index came out below expectation and pushed the pair from 1.3760 to 1.3680 where reversed on its support. The pair tested the support once again later on, despite very low U.S. Fed Manufacturing Index. The bearish sentiment did not last so long and before the American session finish the pair was back ranging on 1.3720. During the Asian session we did not see any significant movement as the market is waiting for the G20 meeting which is starting today. Fed Chairman Janet Yallen is going to face a lot of pressure from emerging markets as the tapering of the monetary stimulus may cause some turmoil. Today we should pay attention to the U.S. housing data at 3.00PM (GMT) and after 6.00PM (GMT) FOMC members Bullard and Fisher will have a speech which might cause some trading opportunities. Both of them are consider to be more hawkish so it might pull the pair down. The movement has remained sideways.
Today’s main events:
09.30 GMT: GBP– Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy.
13.30 GMT: CAD– Core CPI – measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer
15.00 GMT: USD – Existing Home Sales – measures the change in the annualized number of existing residential buildings that were sold during the previous month.
February 21, 2014 – Daily Market News
Today’s Hot Assets: USD, GBP, Gold
The U.S. stock market finished yesterday in positive numbers. The mood on the market was spurred Markit data which showed that US manufacturing activity index for February stood at 56.7, the highest since May 2010. With the bullish sentiment opened the European stock and the FTSE already adding +0.24%.
The EUR/USD pair fell down yesterday in the morning once the German Manufacturing PMI was released. The index came out below expectation and pushed the pair from 1.3760 to 1.3680 where reversed on its support. The pair tested the support once again later on, despite very low U.S. Fed Manufacturing Index. The bearish sentiment did not last so long and before the American session finish the pair was back ranging on 1.3720. During the Asian session we did not see any significant movement as the market is waiting for the G20 meeting which is starting today. Fed Chairman Janet Yallen is going to face a lot of pressure from emerging markets as the tapering of the monetary stimulus may cause some turmoil. Today we should pay attention to the U.S. housing data at 3.00PM (GMT) and after 6.00PM (GMT) FOMC members Bullard and Fisher will have a speech which might cause some trading opportunities. Both of them are consider to be more hawkish so it might pull the pair down. The movement has remained sideways.
Today’s main events:
09.30 GMT: GBP– Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy.
13.30 GMT: CAD– Core CPI – measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer
15.00 GMT: USD – Existing Home Sales – measures the change in the annualized number of existing residential buildings that were sold during the previous month.
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