The Nonfarm Payroll report was released on Friday and showed a surprising drop in the number of jobs created during the past month. The unemployment rate, however, remained positive and dropped to 5.8% showing that the labour market is improving at a faster pace than expected. Overall, the results were positive as job creation remained above 200,000 for 9 straight months. Nevertheless, figures slightly dampened speculation that the Fed could increase interest rates sooner despite hawkish comments from Yellen on Friday. At market close U.S. stocks finished with little change but reached record highs once again; the S&P 500 was 0.03% higher at 2,031.92 and the Dow Jones was 0.11% higher at 17,573.93. Asian markets were mixed today. The Nikkei dropped 0.59%as the Yen strengthened against the Dollar. The Hang Seng added 0.83% as the trading link between Shanghai and Hong Kong is set to begin Nov 17. European markets are higher today as comments from Draghi last week continued to support sentiment and better than expected earnings were released. Currently, the CAC 40 is up 0.51% while London’s FTSE 100 is up 0.30% and Germany’s DAX is up 0.21%.
WTI Crude is climbing higher after Chinese trade data beat expectations over the weekend. The trade balance was better than expected at 45.41B with climbing exports and falling imports. Traders are also focusing on geopolitical tension in Ukraine following reports that a Russian convoy of 32 tanks crossed into Ukraine once again. Gold climbed 3% after the NFP figure was lower than expected. Gold traders are watching Ukraine and are also focusing on the Swiss National Bank. Swiss voters will be deciding whether the bank should hold 20% of its assets in Gold at the end of the month and if they vote to do so, prices should be boosted. On the other side, however, the Unemployment rate from the U.S declined further to 5.8% and this could push the metal down as it gives more fuel for the Fed to increase rates sooner.
Today’s Main Events:
23.50 GMT: JPY – Current Account – measures the difference in value between exported and imported goods, services and interest payments during the reported month
November 10, 2014 – Daily Market News
Today’s Hot Assets: Gold, Oil
The Nonfarm Payroll report was released on Friday and showed a surprising drop in the number of jobs created during the past month. The unemployment rate, however, remained positive and dropped to 5.8% showing that the labour market is improving at a faster pace than expected. Overall, the results were positive as job creation remained above 200,000 for 9 straight months. Nevertheless, figures slightly dampened speculation that the Fed could increase interest rates sooner despite hawkish comments from Yellen on Friday. At market close U.S. stocks finished with little change but reached record highs once again; the S&P 500 was 0.03% higher at 2,031.92 and the Dow Jones was 0.11% higher at 17,573.93. Asian markets were mixed today. The Nikkei dropped 0.59%as the Yen strengthened against the Dollar. The Hang Seng added 0.83% as the trading link between Shanghai and Hong Kong is set to begin Nov 17. European markets are higher today as comments from Draghi last week continued to support sentiment and better than expected earnings were released. Currently, the CAC 40 is up 0.51% while London’s FTSE 100 is up 0.30% and Germany’s DAX is up 0.21%.
WTI Crude is climbing higher after Chinese trade data beat expectations over the weekend. The trade balance was better than expected at 45.41B with climbing exports and falling imports. Traders are also focusing on geopolitical tension in Ukraine following reports that a Russian convoy of 32 tanks crossed into Ukraine once again. Gold climbed 3% after the NFP figure was lower than expected. Gold traders are watching Ukraine and are also focusing on the Swiss National Bank. Swiss voters will be deciding whether the bank should hold 20% of its assets in Gold at the end of the month and if they vote to do so, prices should be boosted. On the other side, however, the Unemployment rate from the U.S declined further to 5.8% and this could push the metal down as it gives more fuel for the Fed to increase rates sooner.
Today’s Main Events:
23.50 GMT: JPY – Current Account – measures the difference in value between exported and imported goods, services and interest payments during the reported month
Related Posts: