Daily Market News: February 25, 2015
February 25, 2015 3:30 pmVideo
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February 25, 2015- Daily Market News
During today’s early trading session, the Nikkei retreated from its 15 year high as investors made gains off increased share prices, however, losses were limited as China released positive data showing that the HSBC Manufacturing PMI was better than expected . The Nikkei Index was down by 0.10% and closed at 18,585. The AUD reached one month highs against the Dollar following Yellen’s testimony and positive Chinese and Australian data. The value of construction work complete in Australia dropped just 0.2%, lower that the forecast figure of 1.2%.
During the European session, the Euro is trading cautiously against the Dollar despite Greece’s approved 4 month debt bailout extension. The European Central bank stated that Athens resolution to the debt plan are not detailed enough to secure future bailout agreements. European stocks are slightly down, but remain supported with low trade volume after the approval of the Greece’s debt deal. DAX is down by 0.07% and France’s CAC 40 down 0.27%. Markets are also holding steady as investors await the ECB President, Mario Draghi’s, speech at 16:30 GMT.
During early U.S. trade, the Dollar continues to trade lower against a basket of major currencies following Janet Yellen’s testimony. Yellen stated that an interest rate hike may be delayed until after “the next couple of FOMC meetings”, investors had expected a rate hike in mid 2015. The second part of the testimony is currently going on, and so we may see higher volatility in the markets as Yellen continues to testify.
Todays Main Events
10:00 GMT – GBP – BoE Gov Carney speaks
15:00 GMT – USD – Fed Chair Yenllen testifies
15:00 GMT – USD – New Home sales
16:30 GMT – EUR – ECB President Draghi speaks
21:45 GMT – NZD – Trade Balance
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