U.S. stocks finished with little change after a flat session. A lack of economic data coupled with investor concerns dampened sentiment. At session close the S&P 500 was down 0.07% but remained high at 2,038.25 and the Dow Jones was down 0.02% but remained high at 17,612.2. Asian markets were higher across the region. The Nikkei added 1.14% to its highest level in 7 years as the Dollar climbed against the Yen .As quantitative easing increased in Japan and the sales tax hike may be delayed this could give more room for the economy to grow and should create more interest in stocks. The Hang Seng added 0.34% following a report that the Central Bank will inject cash into smaller banks. This should cause momentum in the economy and boost fourth quarter results. European markets are higher today following a range of data. The ECB Monthly Bulletin was released pushing analysts to cut their forecast for Eurozone inflation and growth. Currently the DAX is up 0.71% while France’s CAC 40 is up 0.38% and London’s FTSE 100 is up 0.35%. Attention will now turn to tomorrow’s CPI data.
WTI Crude continues to fall and reached a three year low. There is increased speculation that OPEC will not cut output at its meeting on November 27, and this is putting pressure on the price as supplies seem to be increasing and demand remains unchanged. The API reported that crude stock declined by 1,500 barrels over the past week but a more important report will come from the EIA at 4pm (GMT) today. Gold is ranging between $1,156/ounce and $1,170/ounce. Low volatility is seen due to a lack of U.S. data and restricted movement on the stock market. Traders still expect policy makers to increase interest rates and so demand for the metal has dropped to a 5 year low. Traders should remain focused on the U.S. Dollar and Yellens speech at 5.45 PM (GMT).
Today’s Main Events:
09.00 GMT: EUR –ECB Monthly Report – reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision
13.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week
15.00 GMT: USD – JOLTs Job Openings – A survey done by the US Bureau of Labor Statistics to help measure job vacancies
17.45 GMT: USD – Fed Chair Yellen Speaks – Due to deliver opening remarks at the European Central Bank, Federal Reserve Board, and Federal Reserve Bank of New York Conference: Global Research Forum on International Macroeconomics and Finance, in Washington, DC
November 13, 2014 – Daily Market News
Today’s Hot Assets: USD
U.S. stocks finished with little change after a flat session. A lack of economic data coupled with investor concerns dampened sentiment. At session close the S&P 500 was down 0.07% but remained high at 2,038.25 and the Dow Jones was down 0.02% but remained high at 17,612.2. Asian markets were higher across the region. The Nikkei added 1.14% to its highest level in 7 years as the Dollar climbed against the Yen .As quantitative easing increased in Japan and the sales tax hike may be delayed this could give more room for the economy to grow and should create more interest in stocks. The Hang Seng added 0.34% following a report that the Central Bank will inject cash into smaller banks. This should cause momentum in the economy and boost fourth quarter results. European markets are higher today following a range of data. The ECB Monthly Bulletin was released pushing analysts to cut their forecast for Eurozone inflation and growth. Currently the DAX is up 0.71% while France’s CAC 40 is up 0.38% and London’s FTSE 100 is up 0.35%. Attention will now turn to tomorrow’s CPI data.
WTI Crude continues to fall and reached a three year low. There is increased speculation that OPEC will not cut output at its meeting on November 27, and this is putting pressure on the price as supplies seem to be increasing and demand remains unchanged. The API reported that crude stock declined by 1,500 barrels over the past week but a more important report will come from the EIA at 4pm (GMT) today. Gold is ranging between $1,156/ounce and $1,170/ounce. Low volatility is seen due to a lack of U.S. data and restricted movement on the stock market. Traders still expect policy makers to increase interest rates and so demand for the metal has dropped to a 5 year low. Traders should remain focused on the U.S. Dollar and Yellens speech at 5.45 PM (GMT).
Today’s Main Events:
09.00 GMT: EUR –ECB Monthly Report – reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision
13.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week
15.00 GMT: USD – JOLTs Job Openings – A survey done by the US Bureau of Labor Statistics to help measure job vacancies
17.45 GMT: USD – Fed Chair Yellen Speaks – Due to deliver opening remarks at the European Central Bank, Federal Reserve Board, and Federal Reserve Bank of New York Conference: Global Research Forum on International Macroeconomics and Finance, in Washington, DC
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