U.S. stocks were little changed, remaining at record highs. The S&P 500 lost 0.02% and the Dow Jones gained 0.02% closing at 16,945.92. In individual stocks news, Apple Inc rose 0.6% after a 7- for – 1 split but Ebay lost 2.7% after reports their PayPal chief is leaving to join Facebook. Asian stocks were mixed. The Nikkei gained 0.5% as the Dollar fell further against the Yen. The Hang Seng, however, lost 0.25% as the World Bank cut its forecast for global economic growth. The World Bank lowered its forecast to 2.8% from an earlier estimate of 3.2% amid a weaker outlook for Russia, China and the U.S. European stocks opened lower as sentiment weakened. Currently, the DAX is down 0.78% while France’s CAC 40 is off 0.66% and London’s FTSE 100 is lower by 0.61%.
WTI Crude dropped slightly after the API reported that Weekly Crude Stock Increased. However, the price is again climbing due to speculation the EIA will report a drop in inventories later in the day at 2.30pm GMT. Traders are waiting for the start of the OPEC meeting today in Vienna. Gold has broken through a resistance level and climbed to $1,263/ounce. Physical demand increased but the metal is receiving its main boost from the additional stimulus coming into Europe. No key data is being released from the U.S. today so the price may be choppy.
Today’s Main Events:
21.00 GMT: NZD – Interest Rate Decision – The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
21.00 GMT: NZD – RBNZ Rate Statement – The Reserve Bank of New Zealand’s rate statement is the primary tool the panel uses to communicate with investors about monetary policy.
21.05 GMT: NZD – RBNZ Gov Wheeler Speaks – The press conference is about 30 minutes long and has 2 parts – first a prepared statement is read, then the conference is open to press questions.
June 11, 2014 – Daily Market News
Today’s Hot Asset: NZD
U.S. stocks were little changed, remaining at record highs. The S&P 500 lost 0.02% and the Dow Jones gained 0.02% closing at 16,945.92. In individual stocks news, Apple Inc rose 0.6% after a 7- for – 1 split but Ebay lost 2.7% after reports their PayPal chief is leaving to join Facebook. Asian stocks were mixed. The Nikkei gained 0.5% as the Dollar fell further against the Yen. The Hang Seng, however, lost 0.25% as the World Bank cut its forecast for global economic growth. The World Bank lowered its forecast to 2.8% from an earlier estimate of 3.2% amid a weaker outlook for Russia, China and the U.S. European stocks opened lower as sentiment weakened. Currently, the DAX is down 0.78% while France’s CAC 40 is off 0.66% and London’s FTSE 100 is lower by 0.61%.
WTI Crude dropped slightly after the API reported that Weekly Crude Stock Increased. However, the price is again climbing due to speculation the EIA will report a drop in inventories later in the day at 2.30pm GMT. Traders are waiting for the start of the OPEC meeting today in Vienna. Gold has broken through a resistance level and climbed to $1,263/ounce. Physical demand increased but the metal is receiving its main boost from the additional stimulus coming into Europe. No key data is being released from the U.S. today so the price may be choppy.
Today’s Main Events:
21.00 GMT: NZD – Interest Rate Decision – The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
21.00 GMT: NZD – RBNZ Rate Statement – The Reserve Bank of New Zealand’s rate statement is the primary tool the panel uses to communicate with investors about monetary policy.
21.05 GMT: NZD – RBNZ Gov Wheeler Speaks – The press conference is about 30 minutes long and has 2 parts – first a prepared statement is read, then the conference is open to press questions.
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