U.S. markets rallied on economic data and fresh news out of Japan. UThe S&P 500 closed 0.51% higher, breaching a key technical level of 2,050 and reaching 2,501.80. The Dow Jones added 0.23% closing at 17,687.82. Asian markets declined across the region. The Nikkei lost 0.32% despite the Yen falling against the Dollar. This followed a statement from the Prime minster of Japan, Shinzo Abe, who confirmed that the sales tax hike will be postponed for 18 months (from Oct 2015). The Hang Seng lost 0.66% as interest failed to pick up for the trading link between Hong Kong and Shanghai. European markets are mixed today as market attention turns to the FOMC Meeting Minutes which will be released at 7PM (GMT). Investors are eager for more information regarding the interest rate hike. Currently, the DAX is up 0.38% while the CAC 40 gains 0.19%. The FTSE 100 is off 0.14%.
WTI Crude dropped as traders continue to speculate that OPEC will maintain the current level of output at their meeting on November 27. Bearish sentiment increased after the API reported that stock rose by 3.7 million barrels over the past week; markets were expecting a drop. The EIA will also be releasing data at 3.30 PM (GMT) and are expected to show a drop of 1.880M barrels. Gold traded choppy after gaining on the back of the Japanese recession and comments from Mario Draghi. Market players are now awaiting the FOMC Meeting Minutes. If the minutes show a hawkish stance from the Fed, we could see Gold drop back down quickly.
Today’s Main Events:
09.30 GMT: GBP – MPC Meeting Minutes – a detailed record of the Bank of England’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
13.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government.
19.00 GMT: USD – FOMC Meeting Minutes a detailed record of the committee’s policy-setting meeting held about two weeks earlier.
23.50 GMT: JPY – Trade Balance – measures the difference in value between imported and exported goods and services over the reported period.
November 19, 2014 – Daily Market News
Today’s Hot Assets: USD, JPY
U.S. markets rallied on economic data and fresh news out of Japan. UThe S&P 500 closed 0.51% higher, breaching a key technical level of 2,050 and reaching 2,501.80. The Dow Jones added 0.23% closing at 17,687.82. Asian markets declined across the region. The Nikkei lost 0.32% despite the Yen falling against the Dollar. This followed a statement from the Prime minster of Japan, Shinzo Abe, who confirmed that the sales tax hike will be postponed for 18 months (from Oct 2015). The Hang Seng lost 0.66% as interest failed to pick up for the trading link between Hong Kong and Shanghai. European markets are mixed today as market attention turns to the FOMC Meeting Minutes which will be released at 7PM (GMT). Investors are eager for more information regarding the interest rate hike. Currently, the DAX is up 0.38% while the CAC 40 gains 0.19%. The FTSE 100 is off 0.14%.
WTI Crude dropped as traders continue to speculate that OPEC will maintain the current level of output at their meeting on November 27. Bearish sentiment increased after the API reported that stock rose by 3.7 million barrels over the past week; markets were expecting a drop. The EIA will also be releasing data at 3.30 PM (GMT) and are expected to show a drop of 1.880M barrels. Gold traded choppy after gaining on the back of the Japanese recession and comments from Mario Draghi. Market players are now awaiting the FOMC Meeting Minutes. If the minutes show a hawkish stance from the Fed, we could see Gold drop back down quickly.
Today’s Main Events:
09.30 GMT: GBP – MPC Meeting Minutes – a detailed record of the Bank of England’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
13.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government.
19.00 GMT: USD – FOMC Meeting Minutes a detailed record of the committee’s policy-setting meeting held about two weeks earlier.
23.50 GMT: JPY – Trade Balance – measures the difference in value between imported and exported goods and services over the reported period.
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