U.S stocks closed with little change once again but still pushed higher into record territory. The S&P 500 closed at record levels for a 42nd time gaining 0.07% to 2,041.32. The Dow Jones closed 0.07% higher at 17,647.75. Asian markets were mixed across the region. The Nikkei added 2.18% as the Dollar moved higher against the Yen, reaching ¥116.8 towards the end of the Asian session. Sentiment was also lifted as traders speculated that the Prime Minister, Shinzo Abe, would delay a hike in sales tax and call elections in December instead. The Hang Seng declined 1.13% on the second day of the trading link between Hong Kong and Shanghai. Markets reacted to Chinese housing data which showed a 2.6% decline. European markets are higher today after positive data from Germany. The German ZEW Economic Sentiment came out very strong at 11.5, far above the expectation of 0.9. Currently the DAX is up 1.23% while France’s CAC 40 is up 0.81% and London’s FTSE 100 is up 0.45%.
WTI Crude is ranging as traders await the outcome of OPECs meeting on November 27. Traders are eager to learn if production will be cut as data has recently shown lower demand with higher supply. If the current rate of output is maintained we should see the price drop further. Traders should watch the inventory report which will be released by the API at 9.30PM as it may spark short term volatility. Gold is climbing after the Japanese Prime Minister decided to delay the sales tax hike for 18 months. This weakened the Dollar slightly against the Yen. The Dollar also fell against the Euro following positive data out of Germany. Speculation that the European Central bank will increase stimulus is also boosting the metal after Draghi repeated yesterday that the bank is willing to do so to fight inflation.
Today’s Main Events:
09.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer.
10.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook.
13.30 GMT: USD – PPI – measures the change in the price of goods sold by manufacturers
November 18, 2014 – Daily Market News
Today’s Hot Assets: EUR, USD
U.S stocks closed with little change once again but still pushed higher into record territory. The S&P 500 closed at record levels for a 42nd time gaining 0.07% to 2,041.32. The Dow Jones closed 0.07% higher at 17,647.75. Asian markets were mixed across the region. The Nikkei added 2.18% as the Dollar moved higher against the Yen, reaching ¥116.8 towards the end of the Asian session. Sentiment was also lifted as traders speculated that the Prime Minister, Shinzo Abe, would delay a hike in sales tax and call elections in December instead. The Hang Seng declined 1.13% on the second day of the trading link between Hong Kong and Shanghai. Markets reacted to Chinese housing data which showed a 2.6% decline. European markets are higher today after positive data from Germany. The German ZEW Economic Sentiment came out very strong at 11.5, far above the expectation of 0.9. Currently the DAX is up 1.23% while France’s CAC 40 is up 0.81% and London’s FTSE 100 is up 0.45%.
WTI Crude is ranging as traders await the outcome of OPECs meeting on November 27. Traders are eager to learn if production will be cut as data has recently shown lower demand with higher supply. If the current rate of output is maintained we should see the price drop further. Traders should watch the inventory report which will be released by the API at 9.30PM as it may spark short term volatility. Gold is climbing after the Japanese Prime Minister decided to delay the sales tax hike for 18 months. This weakened the Dollar slightly against the Yen. The Dollar also fell against the Euro following positive data out of Germany. Speculation that the European Central bank will increase stimulus is also boosting the metal after Draghi repeated yesterday that the bank is willing to do so to fight inflation.
Today’s Main Events:
09.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer.
10.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook.
13.30 GMT: USD – PPI – measures the change in the price of goods sold by manufacturers
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