Daily Market News: June 2, 2014
June 2, 2014 8:25 amVideo
Latest News
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- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
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- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
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- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
June 2, 2014 – Daily Market News
Today’s Hot Assets: USD, Oil
Despite negative data coming from the U.S. on Friday, stocks finished the month at record levels. Indices experienced the biggest monthly gain since February with the S&P 500 closing 0.18% higher at 1,923.57 and the Dow Jones adding 0.11% to close at a record of 16,717.17. Asian stocks started the week with gains. The Nikkei closed 2.07% higher as the Dollar rose back above ¥102. The Hang Seng added 0.31% after better than expected Manufacturing PMI data was released over the weekend showing expansion at the fastest pace in 5 months. European stocks opened higher following the strong Chinese data. Stocks are also gaining in anticipation that Draghi may ease monetary policy on Thursday. Currently, the DAX is up 0.26% while London’s FTSE 100 is up 0.23% and France’s CAC 40 is up 0.01%.
WTI Crude is rising after the Chinese data signaled stronger demand from the second biggest oil consumer. Manufacturing data from Europe and the UK are expected to be released during early trade and may affect the daily direction of the price. Gold reached its lowest price in 4 months and posted a decline of 3.9% over the month. The geopolitical tension in Ukraine has decreased following successful elections and stocks have reached record levels in the U.S.; both situations are bearish for the metal. This is a big week for data with the ECB set to meet on Thursday to discuss the deposit rate and with the NFP report being released from the U.S. on Friday. For today, traders should focus on the ISM Manufacturing PMI being released at 2pm GMT.
Today’s Main Events:
08.00 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
08.30 GMT: GBP – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
14.00 GMT: USD – ISM Manufacturing PMI – based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured, this report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction and the diffusion index
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