U.S. stocks declined again yesterday as investors became cautious ahead of the next earnings season. As recent advances came from solid U.S. data traders are now looking to company earnings for confirmation of strength of the economy. At session close the S&P 500 was 0.7% lower and the Dow Jones was 0.69% lower dropping back below 17,000 to 16,906.62. Asian markets also declined following the sentiment from the U.S. The Hang Seng lost 1.55% after Chinese CPI eased 2.3% during the month of June. The Nikkei lost 0.08% as the Dollar was trading low against the Yen. European stocks are lower today, heading for a fourth day of losses. The ECB President, Draghi is due to speak in London at 6.30pm GMT but more importantly, The FOMC Meeting Minutes will be released at 6pm GMT. Currently, The FTSE 100 is down 0.61% while France’s CAC 40 is off 0.24% and Germany’s DAX is lower by 0.13%.
WTI Crude continued to trade lower for an 8th day due to expectations of increased supply from Libya and diminishing geopolitical tension. The API reported an increase in inventories of 1.7 million barrels yesterday. The EIA will also be releasing data at 2.30 pm today. Gold increased during the Asian session. The price is being boosted due to the escalating situation in the Middle East between Israel and Gaza. Gold traders should watch the FOMC Meeting Minutes as this will dictate the direction of Gold.
Today’s Main Events:
18.00 GMT: USD – FOMC Meeting Minutes – a detailed record of the committee’s policy-setting meeting held about two weeks earlier.
18.30 GMT: EUR – ECB President Draghi Speaks – Due to speak at the Tommaso Padoa-Schioppa Memorial Lecture, in London
23.50 GMT: JPY – Tertiary Industry Activity Index – measures the change in the total value of services purchased by businesses. It is a leading indicator of economic health.
July 9, 2014 – Daily Market News
Today’s Hot Assets: USD, Gold, EUR
U.S. stocks declined again yesterday as investors became cautious ahead of the next earnings season. As recent advances came from solid U.S. data traders are now looking to company earnings for confirmation of strength of the economy. At session close the S&P 500 was 0.7% lower and the Dow Jones was 0.69% lower dropping back below 17,000 to 16,906.62. Asian markets also declined following the sentiment from the U.S. The Hang Seng lost 1.55% after Chinese CPI eased 2.3% during the month of June. The Nikkei lost 0.08% as the Dollar was trading low against the Yen. European stocks are lower today, heading for a fourth day of losses. The ECB President, Draghi is due to speak in London at 6.30pm GMT but more importantly, The FOMC Meeting Minutes will be released at 6pm GMT. Currently, The FTSE 100 is down 0.61% while France’s CAC 40 is off 0.24% and Germany’s DAX is lower by 0.13%.
WTI Crude continued to trade lower for an 8th day due to expectations of increased supply from Libya and diminishing geopolitical tension. The API reported an increase in inventories of 1.7 million barrels yesterday. The EIA will also be releasing data at 2.30 pm today. Gold increased during the Asian session. The price is being boosted due to the escalating situation in the Middle East between Israel and Gaza. Gold traders should watch the FOMC Meeting Minutes as this will dictate the direction of Gold.
Today’s Main Events:
18.00 GMT: USD – FOMC Meeting Minutes – a detailed record of the committee’s policy-setting meeting held about two weeks earlier.
18.30 GMT: EUR – ECB President Draghi Speaks – Due to speak at the Tommaso Padoa-Schioppa Memorial Lecture, in London
23.50 GMT: JPY – Tertiary Industry Activity Index – measures the change in the total value of services purchased by businesses. It is a leading indicator of economic health.
Related Posts: