U.S. stocks climbed higher and closed at record levels once again. Gains came after Mario Draghi, the President of the European Central Bank, spoke during a press conference and reaffirmed that they are prepared to inject stimulus as soon as needed. U.S. data releases also boosted sentiment. The S&P 500 finished 0.38% higher at 2,031.21 and the Dow Jones closed 0.4% higher at 17,554.47. Asian markets were mixed. The Nikkei regained losses from the previous day and climbed 0.52%. Gains were seen as the Dollar climbed higher against the yen and reached a high of ¥115.5. The Hang Seng dropped again, losing 0.42. European markets are higher today as traders await the NFP release. Although the figure is forecast to be lower than last month, positive data is now expected as data throughout the week has been consistently strong. Markets also welcomed comments from Draghi during yesterday’s press conference as he stated that he is ready to inject stimulus as soon as needed. Currently, the FTSE 100 is higher by 0.61%, while the CAC 40 is leading the DAX lower. They are down 0.55% and 0.41% respectively.
WTI Crude declined after OPEC predicted that demand may fall to a 14 year low in 2017. Then price is now climbing ahead of the NFP release as traders are expecting positive results. Increased labour should lead to greater demand for oil. Gold is trading around a 4 year low as the Dollar continues to rally. Physical demand has not yet picked up and so we can see that traders believe the price will continue to drop.
Today’s Main Events:
10:15 GMT: GBP – BoE Gov Carney Speaks – Due to participate in a panel discussion titled “Central Banking: The Way Forward” at the International Symposium of the Banque de France, in Paris
13.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry.
13.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
15.15 GMT: USD – Fed Chair Yellen Speaks – Due to participate in a panel discussion titled “Policy Since the Onset of the Financial Crisis” at the Bank of France’s Symposium “Central Banking: The Way Forward?,” in Paris. Audience questions expected
November 7, 2014 – Daily Market News
Today’s Hot Assets: USD, Gold
U.S. stocks climbed higher and closed at record levels once again. Gains came after Mario Draghi, the President of the European Central Bank, spoke during a press conference and reaffirmed that they are prepared to inject stimulus as soon as needed. U.S. data releases also boosted sentiment. The S&P 500 finished 0.38% higher at 2,031.21 and the Dow Jones closed 0.4% higher at 17,554.47. Asian markets were mixed. The Nikkei regained losses from the previous day and climbed 0.52%. Gains were seen as the Dollar climbed higher against the yen and reached a high of ¥115.5. The Hang Seng dropped again, losing 0.42. European markets are higher today as traders await the NFP release. Although the figure is forecast to be lower than last month, positive data is now expected as data throughout the week has been consistently strong. Markets also welcomed comments from Draghi during yesterday’s press conference as he stated that he is ready to inject stimulus as soon as needed. Currently, the FTSE 100 is higher by 0.61%, while the CAC 40 is leading the DAX lower. They are down 0.55% and 0.41% respectively.
WTI Crude declined after OPEC predicted that demand may fall to a 14 year low in 2017. Then price is now climbing ahead of the NFP release as traders are expecting positive results. Increased labour should lead to greater demand for oil. Gold is trading around a 4 year low as the Dollar continues to rally. Physical demand has not yet picked up and so we can see that traders believe the price will continue to drop.
Today’s Main Events:
10:15 GMT: GBP – BoE Gov Carney Speaks – Due to participate in a panel discussion titled “Central Banking: The Way Forward” at the International Symposium of the Banque de France, in Paris
13.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry.
13.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
15.15 GMT: USD – Fed Chair Yellen Speaks – Due to participate in a panel discussion titled “Policy Since the Onset of the Financial Crisis” at the Bank of France’s Symposium “Central Banking: The Way Forward?,” in Paris. Audience questions expected
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