Daily Market News: May 13, 2014
May 13, 2014 9:20 amVideo
Latest News
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May 13, 2014 – Daily Market News
Hot Asset For Today: Euro, USD
Following an exciting week in the Forex market, investors might experience a high level of volatility throughout the day. This is partially due to some price correction but also due to a number of high profile events such as the European and German ZEW Economic sentiment which would be released at 9:00AM (GMT Casablanca time zone). At 9:30 the Australian government will release its annual budget report. This is likely to generate fluctuations due to the high levels the AUD has been experiencing this week especially against the EUR and CHF. Also, at 12:30 GMT, new data will be released from the U.S. Investors should expect some movement in the related pairs.
Big rallies also took place in the stock market, with the S&P 500 and Dow Jones closing at a record high. Standing out were FACEBOOK with +5.41% and Netflix +7.56%, the Nasdaq also demonstrated a bullish movement closing at +1.8%.
There are currently a number of large mergers discussed and those are stocks that investors should keep an eye for :
=> Pfizer potential buyout of AstraZeneca : Pfizer shares rose after publishing a letter arguing its case for its proposed $106B acquisition.
On the commodities market, Gold has been bearish on the upwards movement of the USD. Crude Oil, which slid 3 days in a row is currently showing sighs of a potential reversal.
Today’s Main Events:
9.00 GMT: EUR – ZEW Economic Sentiment – rates the relative six-month economic outlook for the euro zone.
9.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook
12.30 GMT: USD– Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
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