U.S markets declined as investor confidence was hit as the oil sell off continued. Oil prices dropped below $45/barrel on a number of factors and energy shares were hit once again. The S&P 500 lost 0.81% and closed at 2,028.26 and the Dow Jones lost 0.54%, closing at 17,640.84. Losses heightened at the end of the session as John Williams, Federal Reserve Bank of San Francisco President, said that raising interest rates would be a close call due to signs of a stronger labour market coupled with weaker wages. Asian markets were mixed today. The Nikkei lost 0.64% as the Yen strengthened as a safe haven asset; the Dollar dropped to a low of 117.7 during the Asian session. The Hang Seng added 0.79% following the release of trade data. European markets are higher today due to indications that the ECB will begin quantitative easing next week. If this step is made, further liquidity would enter the market which is a positive thing for stocks. Currently, the CAC 40 is up 1.29% while Germany’s DAX is up 1.20% and London’s FTSE 100 is up 0.47%.
WTI Crude continued to decline and reached a low of $44.2/barrel. Losses were seen after the Prince of Saudi, Alwaleed, stated that oil will never again reach $100/barrel. In addition, the United Arab Emirates oil minister, Suhail bin Mohammed al- Mazroui, spoke earlier today and supported OPECs decision to maintain the current rate of production. Traders should watch the weekly inventory report from the API which will be released at 9.30 PM (GMT). Gold is climbing as a safe haven asset as oil prices hit sentiment and equity markets decline. The U.S stock market opened sharply higher today due to expectations that the ECB will add stimulus and this could push the metal back down. Traders should watch U.S data which will be released later in the session including the JOLTS Job Openings at 3PM (GMT).
Today’s Main Events:
09.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer
15.00 GMT: USD – JOLTS Job Openings – Statistics to help measure job vacancies
19.00 GMT: USD – Federal Budget Balance – measures the difference in value between the federal government’s income and expenditure during the reported month
January 13, 2015 – Daily Market News
Today’s Hot Assets: GBP, USD
U.S markets declined as investor confidence was hit as the oil sell off continued. Oil prices dropped below $45/barrel on a number of factors and energy shares were hit once again. The S&P 500 lost 0.81% and closed at 2,028.26 and the Dow Jones lost 0.54%, closing at 17,640.84. Losses heightened at the end of the session as John Williams, Federal Reserve Bank of San Francisco President, said that raising interest rates would be a close call due to signs of a stronger labour market coupled with weaker wages. Asian markets were mixed today. The Nikkei lost 0.64% as the Yen strengthened as a safe haven asset; the Dollar dropped to a low of 117.7 during the Asian session. The Hang Seng added 0.79% following the release of trade data. European markets are higher today due to indications that the ECB will begin quantitative easing next week. If this step is made, further liquidity would enter the market which is a positive thing for stocks. Currently, the CAC 40 is up 1.29% while Germany’s DAX is up 1.20% and London’s FTSE 100 is up 0.47%.
WTI Crude continued to decline and reached a low of $44.2/barrel. Losses were seen after the Prince of Saudi, Alwaleed, stated that oil will never again reach $100/barrel. In addition, the United Arab Emirates oil minister, Suhail bin Mohammed al- Mazroui, spoke earlier today and supported OPECs decision to maintain the current rate of production. Traders should watch the weekly inventory report from the API which will be released at 9.30 PM (GMT). Gold is climbing as a safe haven asset as oil prices hit sentiment and equity markets decline. The U.S stock market opened sharply higher today due to expectations that the ECB will add stimulus and this could push the metal back down. Traders should watch U.S data which will be released later in the session including the JOLTS Job Openings at 3PM (GMT).
Today’s Main Events:
09.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer
15.00 GMT: USD – JOLTS Job Openings – Statistics to help measure job vacancies
19.00 GMT: USD – Federal Budget Balance – measures the difference in value between the federal government’s income and expenditure during the reported month
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