One of Portugal’s main banks, Espirito Santo International, decided to delay a debt payment. The decision sent stock markets tumbling and pushed bond yields skyward. This caused uncertainty to resurface about the European economy. Following this, U.S. stocks declined despite positive Initial Jobless Claims data which fell to a seven year low. At session close, the S&P 500 was 0.41% lower and the Dow Jones was 0.42% lower. Asian stocks also declined across the region. The Nikkei lost 0.34% as the Yen remained strong against the Dollar, trading around ¥101.3. The Hang Seng lost 0.02% as investors tend to follow U.S. sentiment. European stocks are higher with regional banks posting a rebound. Currently, the CAC 40 is up 0.46% while London’s FTSE 100 is up 0.28% and Germany’s DAX is up 0.26%.
WTI Crude increased from its lowest price since May. Speculation that the U.S. economy is growing, following consistently positive data pushed the price higher as growth leads to greater demand of oil. The upwards movement could also be attributed to physical demand as investors took advantage of the low price. Gold traded near a four month high due to concerns over the European economy and geopolitical tension in the Middle East. Today, prices are flat as traders juggle recent worse than expected data from China and a weaker dollar stemming from recent US monetary policy decisions.
Today’s Main Events:
12.30 GMT: CAD – Employment Change – measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
18.00 GMT: USD – Federal Budget Balance – The Federal Budget Balance measures the difference in value between the federal government’s income and expenditure during the reported month
July 11, 2014 – Daily Market News
Today’s Hot Asset: CAD
One of Portugal’s main banks, Espirito Santo International, decided to delay a debt payment. The decision sent stock markets tumbling and pushed bond yields skyward. This caused uncertainty to resurface about the European economy. Following this, U.S. stocks declined despite positive Initial Jobless Claims data which fell to a seven year low. At session close, the S&P 500 was 0.41% lower and the Dow Jones was 0.42% lower. Asian stocks also declined across the region. The Nikkei lost 0.34% as the Yen remained strong against the Dollar, trading around ¥101.3. The Hang Seng lost 0.02% as investors tend to follow U.S. sentiment. European stocks are higher with regional banks posting a rebound. Currently, the CAC 40 is up 0.46% while London’s FTSE 100 is up 0.28% and Germany’s DAX is up 0.26%.
WTI Crude increased from its lowest price since May. Speculation that the U.S. economy is growing, following consistently positive data pushed the price higher as growth leads to greater demand of oil. The upwards movement could also be attributed to physical demand as investors took advantage of the low price. Gold traded near a four month high due to concerns over the European economy and geopolitical tension in the Middle East. Today, prices are flat as traders juggle recent worse than expected data from China and a weaker dollar stemming from recent US monetary policy decisions.
Today’s Main Events:
12.30 GMT: CAD – Employment Change – measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
18.00 GMT: USD – Federal Budget Balance – The Federal Budget Balance measures the difference in value between the federal government’s income and expenditure during the reported month
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