US stocks plummeted on Friday, following global concerns over emerging markets. This sparked a risk-off trading session that sparked demand for safe-haven currencies and commodities, such as the Japanese yen and gold. Weak Chinese data supported a decline in emerging markets, leading investors to shy away from U.S. Stocks. At the close of the US trading hours on Friday the markets closed lower, with the Dow Jones falling 1.96%, the S&P 500 Fell 2.09%, and the Nasdaq fell by 2.15%. European stocks also followed a similar downward trend, after a rout in emerging-market currencies increased concerns over the global economic recovery. Asian stocks also fell during the morning trading hours, after news of a widening trade deficit in Japan and increasing fears over continued Fed tapering in the US could affect economic growth in Asia. At the opening of the session, Hong Kong’s Hang Seng Index was down 2.11% and Japan’s Nikkei 225 was down 2.51%.
WTI Crude Oil faced it’s larges gains, as weather conditions in the U.S. boosted the demand for heating oil. As U.S. inventories have recently shown lower figures, the rise in demand showed an increase in price. Gold also showed an increase in price on Friday, as stocks investors turned their attention to safe-haven commodities such as Gold. The price of gold is now starting to decline slightly, as investors are considering the impact of a possible further reduction to the U.S. monetary stimulus.
Today’s Main Events:
09.00 GMT: EUR – German lfo Business Climate Index – rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers.
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.
18:00 GMT: EUR – German Buba President Weidmann Speaks – Deutsche Bundesbank (Buba) president Jens Weidmann is to speak. As president of the Bundesbank and a member of the ECB, which controls key short term interest rates, Weidmann has some influence over the EUR value
January 27, 2014 – Daily Market News
Today’s Hot Assets: WTI Crude Oil, USD
US stocks plummeted on Friday, following global concerns over emerging markets. This sparked a risk-off trading session that sparked demand for safe-haven currencies and commodities, such as the Japanese yen and gold. Weak Chinese data supported a decline in emerging markets, leading investors to shy away from U.S. Stocks. At the close of the US trading hours on Friday the markets closed lower, with the Dow Jones falling 1.96%, the S&P 500 Fell 2.09%, and the Nasdaq fell by 2.15%. European stocks also followed a similar downward trend, after a rout in emerging-market currencies increased concerns over the global economic recovery. Asian stocks also fell during the morning trading hours, after news of a widening trade deficit in Japan and increasing fears over continued Fed tapering in the US could affect economic growth in Asia. At the opening of the session, Hong Kong’s Hang Seng Index was down 2.11% and Japan’s Nikkei 225 was down 2.51%.
WTI Crude Oil faced it’s larges gains, as weather conditions in the U.S. boosted the demand for heating oil. As U.S. inventories have recently shown lower figures, the rise in demand showed an increase in price. Gold also showed an increase in price on Friday, as stocks investors turned their attention to safe-haven commodities such as Gold. The price of gold is now starting to decline slightly, as investors are considering the impact of a possible further reduction to the U.S. monetary stimulus.
Today’s Main Events:
09.00 GMT: EUR – German lfo Business Climate Index – rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers.
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.
18:00 GMT: EUR – German Buba President Weidmann Speaks – Deutsche Bundesbank (Buba) president Jens Weidmann is to speak. As president of the Bundesbank and a member of the ECB, which controls key short term interest rates, Weidmann has some influence over the EUR value
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