U.S markets climbed as jobless claims plunged, showing further improvement in the labour market. Initial Jobless claims dropped to 265,000, much lower than the expected 300,000 and Continuing Jobless Claims dropped to 2,385K, below the expected 2,420k. In addition, oil prices rebounded and climbed back up to $45/barrel, boosting energy shares. At session close the S&P 500 was 0.95% higher at 2,021.25 and the Dow Jones was 1.31% higher at 17,416.85. Asian markets were mixed today. The Nikkei climbed 0.39% despite the Yen strengthening against the dollar. Strong data was released with Household spending climbing 0.4% over the previous month, National CPI climbing by 2.4% over the past year and the Unemployment rate falling to 3.4%. The Hang Seng lost 0.36% as one of its main components, Tencent Holdings, declined after Alibaba released weak earnings. European markets are lower today after European CPI missed expectations and declined by 0.6%. The FTSE 100 is down 0.37%, the DAX is down 0.14% and the CAC 40 is down 0.31%.
WTI Crude to a 6 year low following an inventory report from the EIA. The report showed that supplies in the U.S climbed by 9million barrels over the past week, much above the expected increase of 4.2 million barrels. Yesterday, however, the price rebounded upwards and is currently trading around $45/barrel. As fundamentals remain weak we do not expect this bullish sentiment to continue. Gold dropped further following the release of strong labour data in the U.S. The price has since climbed upwards but is still leaning towards the worst week in 2 months. Traders should watch GDP data which will be released at 1.30 PM (GMT).
Today’s Main Events:
07.00 GMT: EUR – German Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations
10.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
13.30 GMT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
January 30, 2015 – Daily Market News
Today’s Hot Asset: USD
U.S markets climbed as jobless claims plunged, showing further improvement in the labour market. Initial Jobless claims dropped to 265,000, much lower than the expected 300,000 and Continuing Jobless Claims dropped to 2,385K, below the expected 2,420k. In addition, oil prices rebounded and climbed back up to $45/barrel, boosting energy shares. At session close the S&P 500 was 0.95% higher at 2,021.25 and the Dow Jones was 1.31% higher at 17,416.85. Asian markets were mixed today. The Nikkei climbed 0.39% despite the Yen strengthening against the dollar. Strong data was released with Household spending climbing 0.4% over the previous month, National CPI climbing by 2.4% over the past year and the Unemployment rate falling to 3.4%. The Hang Seng lost 0.36% as one of its main components, Tencent Holdings, declined after Alibaba released weak earnings. European markets are lower today after European CPI missed expectations and declined by 0.6%. The FTSE 100 is down 0.37%, the DAX is down 0.14% and the CAC 40 is down 0.31%.
WTI Crude to a 6 year low following an inventory report from the EIA. The report showed that supplies in the U.S climbed by 9million barrels over the past week, much above the expected increase of 4.2 million barrels. Yesterday, however, the price rebounded upwards and is currently trading around $45/barrel. As fundamentals remain weak we do not expect this bullish sentiment to continue. Gold dropped further following the release of strong labour data in the U.S. The price has since climbed upwards but is still leaning towards the worst week in 2 months. Traders should watch GDP data which will be released at 1.30 PM (GMT).
Today’s Main Events:
07.00 GMT: EUR – German Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations
10.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
13.30 GMT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
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