U.S. stocks closed higher on Friday but still posted a weekly loss. Gains were seen after a rally in technology shares and as investors digested information from the Fed suggesting that interest rates will remain low for the foreseeable future. At the session close, the S&P 500 was 0.19% higher and the Dow Jones was 0.03% higher. Asian markets started the week mixed. The Nikkei added 0.44% as the Yen weakened following weaker than expected Housing Starts data from Japan. The Hang Seng, however, lost 0.13% ahead of key data tomorrow. The Chinese Manufacturing PMI will be released at 1am GMT. European stocks also started the week mixed after a range of data was released from the Eurozone. This will be a big week for markets with the European Central Bank Interest Rate Decision and the NFP figure from the U.S. both being released on Thursday. Currently, the DAX is up 0.38% while the FTSE 100 gains 0.10%. The CAC 40 is off 0.02%.
WTI Crude is declining as worries over Iraq are fading. Oil was also pushed lower after the API and EIA released data last week that showed an increase in inventories. Traders should watch U.S. data this week as well as any developments in Iraq. Gold is continuing to trade choppy. Investors are still uncertain over Iraq and therefore, are holding on to the safe haven asset in anticipation of any escalation. The key event for Gold this week will be NFP and we may see the price driven by speculation beforehand.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
12.30 GMT: CAD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
14.00 GMT USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
June 30, 2014 – Daily Market News
Today’s Hot Assets: EUR, USD
U.S. stocks closed higher on Friday but still posted a weekly loss. Gains were seen after a rally in technology shares and as investors digested information from the Fed suggesting that interest rates will remain low for the foreseeable future. At the session close, the S&P 500 was 0.19% higher and the Dow Jones was 0.03% higher. Asian markets started the week mixed. The Nikkei added 0.44% as the Yen weakened following weaker than expected Housing Starts data from Japan. The Hang Seng, however, lost 0.13% ahead of key data tomorrow. The Chinese Manufacturing PMI will be released at 1am GMT. European stocks also started the week mixed after a range of data was released from the Eurozone. This will be a big week for markets with the European Central Bank Interest Rate Decision and the NFP figure from the U.S. both being released on Thursday. Currently, the DAX is up 0.38% while the FTSE 100 gains 0.10%. The CAC 40 is off 0.02%.
WTI Crude is declining as worries over Iraq are fading. Oil was also pushed lower after the API and EIA released data last week that showed an increase in inventories. Traders should watch U.S. data this week as well as any developments in Iraq. Gold is continuing to trade choppy. Investors are still uncertain over Iraq and therefore, are holding on to the safe haven asset in anticipation of any escalation. The key event for Gold this week will be NFP and we may see the price driven by speculation beforehand.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
12.30 GMT: CAD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
14.00 GMT USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
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