After a strong sell off due to concerns over the global outlook, U.S. stocks climbed slightly. Gains were seen after earnings season started with positive results. Intel, Johnson & Johnson, Citigroup and Wells Fargo&Co all posted better than expected earnings figures. The S&P 500 closed 0.16% higher but the Dow Jones finished with little change, dropping 0.4%. Asian markets climbed across the region. After 5 days of losses, the Nikkei added 0.92% as the Dollar gained slightly against the Yen. The Hang Seng rose 0.4% after China released lower than expected inflation data. The yearly CPI increased by 1.6%, below the forecast of 1.7%. The weak data fuelled expectations that China may react by injecting more stimulus into the economy. European markets are lower today as traders still digest weak data from Germany increasing fears that the euro zone could be reaching a recession. Currently, The FTSE 100 gained 0.41% while the DAX was higher by 0.14%. The CAC 40 is even.
WTI Crude is still falling and has now reached its lowest price since 2012. Losses were caused after the IEA cut their forecast for global oil demand to a 5 year low. In recent months supply has been higher than demand and has added pressure to the price. Today the API will be releasing inventory data at 8.30 pm GMT and this should create some short term trading opportunities. Gold has started to decline once again. The stock market rebounded slightly and so the metals safe haven appeal is wearing off. The Dollar also made gains and Gold tends to trade inversely to the American currency. Volatility should pick up today as U.S. data will be released. In particular, traders should look out for Retail Sales and PPI data at 12.30pm GMT.
Today’s Main Events:
07.00 GMT: EUR – ECB President Mario Draghi Speaks – Due to deliver opening remarks at the 7th Statistics Conference organized by the European Central Bank, in Frankfurt
08.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
12.30 GMT: USD – Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level.
12.30 GMT: USD – PPI – measures the change in the price of goods sold by manufacturers.
18.00 GMT: EUR – ECB President Speaks – Due to speak at the grand opening of the European Cultural Days 2014 organized by the European Central Bank, in Frankfurt
October 15, 2014 – Daily Market News
Today’s Hot Asset: USD
After a strong sell off due to concerns over the global outlook, U.S. stocks climbed slightly. Gains were seen after earnings season started with positive results. Intel, Johnson & Johnson, Citigroup and Wells Fargo&Co all posted better than expected earnings figures. The S&P 500 closed 0.16% higher but the Dow Jones finished with little change, dropping 0.4%. Asian markets climbed across the region. After 5 days of losses, the Nikkei added 0.92% as the Dollar gained slightly against the Yen. The Hang Seng rose 0.4% after China released lower than expected inflation data. The yearly CPI increased by 1.6%, below the forecast of 1.7%. The weak data fuelled expectations that China may react by injecting more stimulus into the economy. European markets are lower today as traders still digest weak data from Germany increasing fears that the euro zone could be reaching a recession. Currently, The FTSE 100 gained 0.41% while the DAX was higher by 0.14%. The CAC 40 is even.
WTI Crude is still falling and has now reached its lowest price since 2012. Losses were caused after the IEA cut their forecast for global oil demand to a 5 year low. In recent months supply has been higher than demand and has added pressure to the price. Today the API will be releasing inventory data at 8.30 pm GMT and this should create some short term trading opportunities. Gold has started to decline once again. The stock market rebounded slightly and so the metals safe haven appeal is wearing off. The Dollar also made gains and Gold tends to trade inversely to the American currency. Volatility should pick up today as U.S. data will be released. In particular, traders should look out for Retail Sales and PPI data at 12.30pm GMT.
Today’s Main Events:
07.00 GMT: EUR – ECB President Mario Draghi Speaks – Due to deliver opening remarks at the 7th Statistics Conference organized by the European Central Bank, in Frankfurt
08.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
12.30 GMT: USD – Retail Sales – measures the change in the total value of inflation-adjusted sales at the retail level.
12.30 GMT: USD – PPI – measures the change in the price of goods sold by manufacturers.
18.00 GMT: EUR – ECB President Speaks – Due to speak at the grand opening of the European Cultural Days 2014 organized by the European Central Bank, in Frankfurt
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