U.S. stocks closed slightly higher after mixed data. The Core CPI rose 0.3% in May, higher than the predicted 0.2%. However, investors turned hesitant ahead of data being released today and as tension in Iraq continued. At session close, the S&P 500 was 0.22% higher and the Dow Jones was 0.16% higher. The Fed will be releasing their monetary policy statement and interest rate decision at 6pm GMT. Asian shares were mixed after Japan released weaker than expected export data. Exports declined 2.7% during the past year which weakened the Yen and consequently pushed the Nikkei 0.93% higher. The Hang Seng remained little changed, declining 0.09% ahead of the Federal Reserve’s Policy Decision. European stocks started the day positive following the Bank of England’s monetary policy decision to keep rates and quantitative easing the same. Last week, Governor Carney, stated that interest rates could rise sooner than markets currently expect. Currently, the FTSE 100 is up 0.47% while Germany’s DAX is up 0.34% and France’s CAC 40 is up 0.24%.
WTI Crude is trading choppy after declining yesterday. The price dropped as fears over disruption in Iraq lessened. The API released Crude stock yesterday showing that inventories fell by 5.7 million barrels in the week ended June 13. Traders will now look to the Feds statement and inventory data from the EIA at 2.30pm GMT. Gold is moving lower as physical demand increases before the Feds decision. Investors are weighing the tension in Ukraine and Iraq and so traders should stay up- to- date with any news. Demand may be contained unless the situation looks to worsen significantly.
Today’s Main Events:
08.30 GMT: GBP – MPC Meeting Minutes – a detailed record of the Bank of England’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
18.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy
18.30 GMT: USD – Fed Chair Yellen Speaks – The press conference is about an hour long and has 2 parts – first a prepared statement is read, then the conference is open to press questions
June 18, 2014 – Daily Market News
Today’s Hot Assets: GBP, USD, Gold, Oil
U.S. stocks closed slightly higher after mixed data. The Core CPI rose 0.3% in May, higher than the predicted 0.2%. However, investors turned hesitant ahead of data being released today and as tension in Iraq continued. At session close, the S&P 500 was 0.22% higher and the Dow Jones was 0.16% higher. The Fed will be releasing their monetary policy statement and interest rate decision at 6pm GMT. Asian shares were mixed after Japan released weaker than expected export data. Exports declined 2.7% during the past year which weakened the Yen and consequently pushed the Nikkei 0.93% higher. The Hang Seng remained little changed, declining 0.09% ahead of the Federal Reserve’s Policy Decision. European stocks started the day positive following the Bank of England’s monetary policy decision to keep rates and quantitative easing the same. Last week, Governor Carney, stated that interest rates could rise sooner than markets currently expect. Currently, the FTSE 100 is up 0.47% while Germany’s DAX is up 0.34% and France’s CAC 40 is up 0.24%.
WTI Crude is trading choppy after declining yesterday. The price dropped as fears over disruption in Iraq lessened. The API released Crude stock yesterday showing that inventories fell by 5.7 million barrels in the week ended June 13. Traders will now look to the Feds statement and inventory data from the EIA at 2.30pm GMT. Gold is moving lower as physical demand increases before the Feds decision. Investors are weighing the tension in Ukraine and Iraq and so traders should stay up- to- date with any news. Demand may be contained unless the situation looks to worsen significantly.
Today’s Main Events:
08.30 GMT: GBP – MPC Meeting Minutes – a detailed record of the Bank of England’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
18.00 GMT: USD – FOMC Statement – the primary tool the panel uses to communicate with investors about monetary policy
18.30 GMT: USD – Fed Chair Yellen Speaks – The press conference is about an hour long and has 2 parts – first a prepared statement is read, then the conference is open to press questions
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