Last week, markets were moved by the Fed statement and Yellen’s comments that they might raise interest rates 6 months after quantitative easing finishes. Stocks initially fell but regained some ground following positive U.S. data. The EU and the U.S. then intensified sanctions against Putin to pressure the Russian government to alleviate the global standoff over Ukraine. Western nations added more people to their list of asset freezes and travel bans pushing stocks lower and at the close of the week, the Dow Jones had lost 0.17%, the S&P 500 had lost 0.30%, and the Nasdaq lost 0.98%. Asian markets were higher during today’s session. The Chinese HSBC Manufacturing PMI came out below expectations sparking speculation that weakness in the data could push Beijing to begin a fresh round of stimulus, as this would be the only way China can meet their 2014 economic growth target. The Hang Seng closed 1.91% higher and the Nikkei closed 1.77% higher as investors returned to the market after a public holiday. European markets are lower today as world leaders gather in The Hague to discuss tension over Ukraine.
WTI Crude ended higher on Friday as investors monitored the geopolitical tension surrounding Ukraine. Weak data from China caused a further dip in prices during the Asian session as it sparked worries about a slowdown in the second largest user of oil. In the coming week, investors will watch U.S. data to measure the strength of the economy, including housing sector data, consumer confidence and durable goods. Gold ended the week with losses after the Federal Reserve decided to continue tapering and suggested interest rates could be raised as soon as 2015. The metal is still declining today but with no major economic events volatility may be low.
Today’s Main Events:
08.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
09.00 GMT: EUR – Services PMI – measures the activity level of purchasing managers in the services sector.
March 24, 2014 – Daily Market News
Today’s Hot Asset: EUR
Last week, markets were moved by the Fed statement and Yellen’s comments that they might raise interest rates 6 months after quantitative easing finishes. Stocks initially fell but regained some ground following positive U.S. data. The EU and the U.S. then intensified sanctions against Putin to pressure the Russian government to alleviate the global standoff over Ukraine. Western nations added more people to their list of asset freezes and travel bans pushing stocks lower and at the close of the week, the Dow Jones had lost 0.17%, the S&P 500 had lost 0.30%, and the Nasdaq lost 0.98%. Asian markets were higher during today’s session. The Chinese HSBC Manufacturing PMI came out below expectations sparking speculation that weakness in the data could push Beijing to begin a fresh round of stimulus, as this would be the only way China can meet their 2014 economic growth target. The Hang Seng closed 1.91% higher and the Nikkei closed 1.77% higher as investors returned to the market after a public holiday. European markets are lower today as world leaders gather in The Hague to discuss tension over Ukraine.
WTI Crude ended higher on Friday as investors monitored the geopolitical tension surrounding Ukraine. Weak data from China caused a further dip in prices during the Asian session as it sparked worries about a slowdown in the second largest user of oil. In the coming week, investors will watch U.S. data to measure the strength of the economy, including housing sector data, consumer confidence and durable goods. Gold ended the week with losses after the Federal Reserve decided to continue tapering and suggested interest rates could be raised as soon as 2015. The metal is still declining today but with no major economic events volatility may be low.
Today’s Main Events:
08.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
09.00 GMT: EUR – Services PMI – measures the activity level of purchasing managers in the services sector.
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