The situation in Ukraine affected markets greatly yesterday. The performance of global markets was mostly negative. Traders turned away from riskier assets and chose instead to invest in safe haven assets. US stocks fell as data did little to lift sentiment. At session close the S&P 500 had lost 0.74%, the Dow Jones had lost 0.94% and the Nasdaq had lost 0.72%. Asian stocks climbed as traders are now focusing on the National People’s Congress meeting which will begin in China tomorrow, the Hang Seng closed 0.7% higher. The meeting will be watched for any signals regarding their economic growth target and various financial issues. The Nikkei closed 0.47% higher after the Yen weakened against the US Dollar following news that the President of Russia, Putin, ordered his troops that were sent on surprise military exercises to return to the base. European stocks also reacted to the news and opened in positive territory today. In early trade, the CAC 40 is up 1.27%, London’s FTSE 100 is up 1.13% and Germany’s DAX is up 0.92%.
After advancing to a 5 month high, WTI Crude is declining after the reports that Russia ordered its troops to return home. The situation in Ukraine looks to have stabilized. Traders will now turn their attention to weekly supply data from the API coming out at 9.30 pm (GMT). Gold prices have also declined following the ease of tension between Russia and Ukraine. Physical demand is much lower as the rally caused prices to shoot up.
Today’s Main Events:
09.30 GMT: GBP – Construction PMI – measures the activity level of purchasing managers in the construction industry.
March 4, 2014 – Daily Market News
Today’s Hot Assets: Gold
The situation in Ukraine affected markets greatly yesterday. The performance of global markets was mostly negative. Traders turned away from riskier assets and chose instead to invest in safe haven assets. US stocks fell as data did little to lift sentiment. At session close the S&P 500 had lost 0.74%, the Dow Jones had lost 0.94% and the Nasdaq had lost 0.72%. Asian stocks climbed as traders are now focusing on the National People’s Congress meeting which will begin in China tomorrow, the Hang Seng closed 0.7% higher. The meeting will be watched for any signals regarding their economic growth target and various financial issues. The Nikkei closed 0.47% higher after the Yen weakened against the US Dollar following news that the President of Russia, Putin, ordered his troops that were sent on surprise military exercises to return to the base. European stocks also reacted to the news and opened in positive territory today. In early trade, the CAC 40 is up 1.27%, London’s FTSE 100 is up 1.13% and Germany’s DAX is up 0.92%.
After advancing to a 5 month high, WTI Crude is declining after the reports that Russia ordered its troops to return home. The situation in Ukraine looks to have stabilized. Traders will now turn their attention to weekly supply data from the API coming out at 9.30 pm (GMT). Gold prices have also declined following the ease of tension between Russia and Ukraine. Physical demand is much lower as the rally caused prices to shoot up.
Today’s Main Events:
09.30 GMT: GBP – Construction PMI – measures the activity level of purchasing managers in the construction industry.
Related Posts: