US stocks fell yesterday amid concerns that emerging market economies may slow down. Uncertainty regarding Fed stimulus is also still present and affecting markets negatively. The Fed meeting is currently in progress and will conclude tomorrow. At the close of U.S. trading, the Dow Jones fell 0.26%, the S&P 500 index fell 0.49%. Asia was given a negative lead from the U.S; the Nikkei 225 led the Hang Seng lower. They fell 0.17% and 0.07% respectively. European stocks opened higher following their three day losing streak.
WTI is trading near a weekly low ahead of stockpile data from the API later today at 9.30 pm (GMT). Investors are expecting a rise in stockpiles from the US. Markets will also watch U.S. durable goods data due out at 1.30 pm (GMT) as well as consumer confidence at 3 pm (GMT) to measure the strength of the economy. Gold has been inching lower ahead the FOMC statement on Wednesday. Physical demand is also weaker after the price previously reached a 2 month high. Markets will probably be subdued from now until the release.
Today’s Main Events:
09.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
13.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity.
January 28, 2014 – Daily Market News
Today’s Hot Assets: GBP, USD
US stocks fell yesterday amid concerns that emerging market economies may slow down. Uncertainty regarding Fed stimulus is also still present and affecting markets negatively. The Fed meeting is currently in progress and will conclude tomorrow. At the close of U.S. trading, the Dow Jones fell 0.26%, the S&P 500 index fell 0.49%. Asia was given a negative lead from the U.S; the Nikkei 225 led the Hang Seng lower. They fell 0.17% and 0.07% respectively. European stocks opened higher following their three day losing streak.
WTI is trading near a weekly low ahead of stockpile data from the API later today at 9.30 pm (GMT). Investors are expecting a rise in stockpiles from the US. Markets will also watch U.S. durable goods data due out at 1.30 pm (GMT) as well as consumer confidence at 3 pm (GMT) to measure the strength of the economy. Gold has been inching lower ahead the FOMC statement on Wednesday. Physical demand is also weaker after the price previously reached a 2 month high. Markets will probably be subdued from now until the release.
Today’s Main Events:
09.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
13.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity.
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