U.S stocks climbed and reached new levels once again. Markets were boosted by data and political events. At session close the S&P 500 was 0.57% higher at 2,023.57. The Dow Jones was 0.58% at 17,484.53. Asian markets turned lower today. The Nikkei first gained as the Dollar rallied to a 7 year high against the Yen, reaching a high of ¥115.5. However, the index finished 0.86%lower following the meeting minutes from the Bank of Japan. The Hang Seng lost 0.2% pushed by losses in casino and financial shares. European markets are mixed today as traders turned hesitant ahead of the ECB interest rate decision and press conference. Analysts do not expect any changes to be introduced. Nevertheless, the minutes are predicted to be dovish. The FTSE 100 is currently down 0.14% after a mix of data. The CAC 40 is currently up 0.05% and the DAX is currently up 0.24%.
After the release of inventory data from the EIA, WTI Crude stopped declining. The EIA reported that oil only increased by 460,000 barrels, much lower than the expected growth of 1,900,000 barrels. Sentiment was also higher due to midterm elections, positive data and better than expected corporate earnings. Attention will now turn to the ECB press conference and the NFP figure which will be released tomorrow. In addition to these key events OPEC will hold a press conference at 1.30 PM (GMT) today. Gold is trading around a 4 year low around $1,144.7. The metal broke through its support level yesterday as the Dollar soared. Analysts believe that the price could now drop to $1000/ounce as the safe haven appeal has worn off as the economic outlook for the U.S continues to improve. The price could now begin to range ahead of tomorrow’s Nonfarm Payroll report.
Today’s Main Events:
09.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturers
12.00 GMT: GBP – Interest Rate Decision – Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation
12:45 GMT: EUR – Interest Rate Decision – Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
13.30 GMT: EUR – ECB Press Conference – held monthly, about 45 minutes after the Minimum Bid Rate is announced.
November 6, 2014 – Daily Market News
Today’s Hot Assets: EUR, Oil
U.S stocks climbed and reached new levels once again. Markets were boosted by data and political events. At session close the S&P 500 was 0.57% higher at 2,023.57. The Dow Jones was 0.58% at 17,484.53. Asian markets turned lower today. The Nikkei first gained as the Dollar rallied to a 7 year high against the Yen, reaching a high of ¥115.5. However, the index finished 0.86%lower following the meeting minutes from the Bank of Japan. The Hang Seng lost 0.2% pushed by losses in casino and financial shares. European markets are mixed today as traders turned hesitant ahead of the ECB interest rate decision and press conference. Analysts do not expect any changes to be introduced. Nevertheless, the minutes are predicted to be dovish. The FTSE 100 is currently down 0.14% after a mix of data. The CAC 40 is currently up 0.05% and the DAX is currently up 0.24%.
After the release of inventory data from the EIA, WTI Crude stopped declining. The EIA reported that oil only increased by 460,000 barrels, much lower than the expected growth of 1,900,000 barrels. Sentiment was also higher due to midterm elections, positive data and better than expected corporate earnings. Attention will now turn to the ECB press conference and the NFP figure which will be released tomorrow. In addition to these key events OPEC will hold a press conference at 1.30 PM (GMT) today. Gold is trading around a 4 year low around $1,144.7. The metal broke through its support level yesterday as the Dollar soared. Analysts believe that the price could now drop to $1000/ounce as the safe haven appeal has worn off as the economic outlook for the U.S continues to improve. The price could now begin to range ahead of tomorrow’s Nonfarm Payroll report.
Today’s Main Events:
09.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturers
12.00 GMT: GBP – Interest Rate Decision – Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation
12:45 GMT: EUR – Interest Rate Decision – Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
13.30 GMT: EUR – ECB Press Conference – held monthly, about 45 minutes after the Minimum Bid Rate is announced.
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