U.S markets climbed, regaining 70% of their previous losses. Markets were also spurred by dovish comments made by two Fed members. Narayana Kocherlakota warned of fragile inflation growth, arguing it could be hurt by an interest rate increase and Rosengren stated that the Fed does not face urgency to lift rates. The S&P 500added 1.79% closing at 2,062.14 and the Dow Jones added 1.84% closing at 17,907.87. Asian markets mostly climbed across the region. The Nikkei added 0.18% due to speculation that more stimulus will be added to the economy in the EU. A pause in oil declined also provided the market with a break. The Hang Seng added 0.35% after Chinese CPI increase by 1.5% during the past year. European markets are lower today due to a report that the ECB have made a plan to purchase new assets. Currently the CAC 40 is down 0.67% while Germany’s DAX is off 0.48% and London’s FTSE 100 is lower by 0.46%.
WTI Crude climbed as the EIA and API both released falling inventories. The price then rebounded downwards but the downwards momentum halted and it is currently trading around $48.6/barrel. If the Dollar strengthens further we could see the price drop back down so traders should watch U.S data being released later in the day. Gold is ranging around 1,212. Traders appear hesitant as oil remains relatively low but the Dollar is also strong. Volatility should pick up with the NFP report which will be released at 1.30PM (GMT).
Today’s Main Events:
09.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturerstraderush123
13.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry
13.30 GMT: USD – Unemployment Rate -measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
January 9, 2015 – Daily Market News
Today’s Hot Asset: USD
U.S markets climbed, regaining 70% of their previous losses. Markets were also spurred by dovish comments made by two Fed members. Narayana Kocherlakota warned of fragile inflation growth, arguing it could be hurt by an interest rate increase and Rosengren stated that the Fed does not face urgency to lift rates. The S&P 500added 1.79% closing at 2,062.14 and the Dow Jones added 1.84% closing at 17,907.87. Asian markets mostly climbed across the region. The Nikkei added 0.18% due to speculation that more stimulus will be added to the economy in the EU. A pause in oil declined also provided the market with a break. The Hang Seng added 0.35% after Chinese CPI increase by 1.5% during the past year. European markets are lower today due to a report that the ECB have made a plan to purchase new assets. Currently the CAC 40 is down 0.67% while Germany’s DAX is off 0.48% and London’s FTSE 100 is lower by 0.46%.
WTI Crude climbed as the EIA and API both released falling inventories. The price then rebounded downwards but the downwards momentum halted and it is currently trading around $48.6/barrel. If the Dollar strengthens further we could see the price drop back down so traders should watch U.S data being released later in the day. Gold is ranging around 1,212. Traders appear hesitant as oil remains relatively low but the Dollar is also strong. Volatility should pick up with the NFP report which will be released at 1.30PM (GMT).
Today’s Main Events:
09.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturerstraderush123
13.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry
13.30 GMT: USD – Unemployment Rate -measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
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