U.S stocks dropped, experiencing their biggest drop in 3 weeks. Markets were hit by weaker than expected data with Core Durable Goods Orders declining by 0.8%, instead of increasing by the expected 0.6%. The data sparked speculation that the Federal Reserve may postpone their rate hike further and it is now expected in June. Markets were also hit by weak earnings. At session close the S&P 500 was 1.347% lower at 2,029.55 and the Dow Jones was 1.65% lower at 17,387.21. Asian markets were mostly higher today. The Nikkei climbed 0.15% reaching a monthly high as the Dollar strengthened against the Yen in anticipation of the upcoming FOMC statement. The Hang Seng added 0.22%. European markets are mixed today. The FTSE 100 is down 0.09% and the CAC 40 is down 0.52%. However, the DAX is up 0.47% after positive data from Germany. The GfK German Consumer Climate came out at 9.3, higher than the expected 9.1.
WTI Crude is falling as it is pressured downwards by the stronger Dollar. In addition the API released an inventory report which showed that supplies climbed by almost 13 million barrels in the past week. A further report will be released from the EIA at 3.30PM (GMT). Gold is heading back down as investors become wary ahead of the upcoming FOMC statement. Losses appear limited as it is expected the Fed will be dovish and may postpone hiking rates to later in the year. Nevertheless, traders should watch the report closely as it is likely to spark short term movement in the market.
Today’s Main Events:
18.50 GMT: GBP – BoE Gov Carney Speaks – Due to speak at the Iveagh House, Dublin
19.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy.
20.00 GMT: NZD – RBNZ Rate Statement – contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision
23.50 GMT: JPY – Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level
January 28, 2015 – Daily Market News
Today’s Hot Asset: USD
U.S stocks dropped, experiencing their biggest drop in 3 weeks. Markets were hit by weaker than expected data with Core Durable Goods Orders declining by 0.8%, instead of increasing by the expected 0.6%. The data sparked speculation that the Federal Reserve may postpone their rate hike further and it is now expected in June. Markets were also hit by weak earnings. At session close the S&P 500 was 1.347% lower at 2,029.55 and the Dow Jones was 1.65% lower at 17,387.21. Asian markets were mostly higher today. The Nikkei climbed 0.15% reaching a monthly high as the Dollar strengthened against the Yen in anticipation of the upcoming FOMC statement. The Hang Seng added 0.22%. European markets are mixed today. The FTSE 100 is down 0.09% and the CAC 40 is down 0.52%. However, the DAX is up 0.47% after positive data from Germany. The GfK German Consumer Climate came out at 9.3, higher than the expected 9.1.
WTI Crude is falling as it is pressured downwards by the stronger Dollar. In addition the API released an inventory report which showed that supplies climbed by almost 13 million barrels in the past week. A further report will be released from the EIA at 3.30PM (GMT). Gold is heading back down as investors become wary ahead of the upcoming FOMC statement. Losses appear limited as it is expected the Fed will be dovish and may postpone hiking rates to later in the year. Nevertheless, traders should watch the report closely as it is likely to spark short term movement in the market.
Today’s Main Events:
18.50 GMT: GBP – BoE Gov Carney Speaks – Due to speak at the Iveagh House, Dublin
19.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy.
20.00 GMT: NZD – RBNZ Rate Statement – contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision
23.50 GMT: JPY – Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level
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