During today’s early trading session, Asian stocks traded higher as the Yen weakened following negative Japanese data, the monthly Industrial Production rose by just 3.7%, lower than the expected figure of 4%. The Nikkei share average reached a fresh 15 year high as Fanuc corp, a key Nikkei stock, rose by 13%, the Index was up by 1.39% and closed at 19254 points.
During the European session, the EUR/USD traded choppy as market spectators awaited important data releases from the U.S., the pair is moving with bearish sentiment after yesterday’s sharp rise. USOil reached its lowest level since 2009 and is currently trading around $46/barrel, The price fell after the International Energy Agency stated that oil production is still high and that increasing stockpiles have reached the top of the storage capacity.
During early U.S. trade, the Dollar continues to trade higher against a basket of major currencies despite negative U.S. data showing that the monthly PPI declined by 0.5%, significantly lower than the expected figure of 0.3%. The Dollar remains supported due to continuous speculation that the Fed is to raise interest rates mid year. Traders are currently awaiting more U.S. data, including the Michigan Consumer Expectations and Sentiment.
March 13, 2015- Daily Market News
During today’s early trading session, Asian stocks traded higher as the Yen weakened following negative Japanese data, the monthly Industrial Production rose by just 3.7%, lower than the expected figure of 4%. The Nikkei share average reached a fresh 15 year high as Fanuc corp, a key Nikkei stock, rose by 13%, the Index was up by 1.39% and closed at 19254 points.
During the European session, the EUR/USD traded choppy as market spectators awaited important data releases from the U.S., the pair is moving with bearish sentiment after yesterday’s sharp rise. USOil reached its lowest level since 2009 and is currently trading around $46/barrel, The price fell after the International Energy Agency stated that oil production is still high and that increasing stockpiles have reached the top of the storage capacity.
During early U.S. trade, the Dollar continues to trade higher against a basket of major currencies despite negative U.S. data showing that the monthly PPI declined by 0.5%, significantly lower than the expected figure of 0.3%. The Dollar remains supported due to continuous speculation that the Fed is to raise interest rates mid year. Traders are currently awaiting more U.S. data, including the Michigan Consumer Expectations and Sentiment.
Todays Main Events (GMT)
12:30 USD Core PPI (MoM) (Feb)
12:30 USD PPI (MoM) (Feb)
12:30 CAD Employment Change (Feb)
12:30 CAD Unemployment Rate (Feb)
14:00 USD Michigan Consumer Expectations (Mar)
14:00 USD Michigan Consumer Sentiment (Mar)
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