Daily Market News: February 24, 2015
February 24, 2015 2:30 pmVideo
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February 23, 2015- Daily Market News
During today’s early trading session, Asian markets traded higher as the Yen weakened against a basket of major currencies. The Nikkei share average reached a new 15 year high and was up by 0.74%, closing at 18,603. Weak data from Japan and a dip in oil prices this morning have contributed to the decline of the JPY and in turn drove investors towards the stock market. The Corporate Services price index reported a lower than expected figure of 3.4%.
During the European session, the Euro was trading steady against the Dollar and slightly up against the Yen, as important economic data remained unchanged. The German GDP and the European CPI showed as expected figures. European Central Bank President Mario Draghi is currently speaking and therefore we may witness higher volatility as traders listen closely to hints on future monetary policy. European stocks are little changed as investors continue to keep their eye on the situation current situation in Greece. DAX is slightly down by 0.04% and France’s CAC 40 down by 0.14%.
During early U.S. trade, the Dollar remains supported against a basket of major currencies, although trading with little volatility as market spectators await Federal Reserve Chair Janet Yellen testimony. High volatility in the markets is usually seen during the second part of the assembly, as the committee holds a question and answer session. Traders will scope her words for any clues on future monetary policy. Later this evening the Reserve Bank of New Zealand’s Governor Graeme Wheeler will be speaking about the country’s current economy and future outlook.
Todays Main Events
7:00 GMT – EUR – German GDP
8:15 GMT – CHF – Employment level
10:00 GMT – GBP – BoE Gov Carney speaks
10:00 GMT – EUR – CPI (Core, yearly, monthly)
14:00 GMT – USD – U.S. S&P/CS HPI Composite
14:00 GMT – EUR ECB President Draghi speaks
15:00 GMT – USD – CB Consumer Confidence
15:00 GMT – USD – Fed Chair Janet Yellen testifies
19:00 GMT – CAD – BoC Gov Poloz speaks
23:40 GMT – NZD – RBNZ Gov Wheeler speaks
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