U.S. stocks sharply rose following a range of upbeat earnings and data. The strong data re- ignited speculation that the Fed could raise interest rates sooner than the second half of 2015.Hopes of additional stimulus in Europe also boosted sentiment. At session close the S&P 500 was 1.96% higher and the Dow Jones was 1.31% higher. Asian markets also saw strong gains. The Nikkei soared 2.64% higher as the Dollar made gains against the Yen. The increase came after Japanese trade data which weakened the Yen. Imports and Exports were both higher than expected, however, the Trade balance showed a worse than expected trade deficit as imports were higher than exports. The Hang Seng added 1.37% as the market followed sentiment in the U.S. Continued talks between the government and protestors boosted real estate and retailer shares. European markets are higher today following news that the European Central Bank is considering purchasing corporate bonds. Currently the DAX is up 0.56% while France’s CAC 40 is up 0.45% and London’s FTSE 100 is up 0.30%.
WTI Crude is trading choppy between $80.70/barrel and $82.70/barrel. Investors seem to be hesitant to place positions before next month’s OPEC meeting where a decision may be made to cut output as recent months have shown rising supplies and falling demand. Today the American Petroleum Institute will be releasing their inventory report at 2.30pm GMT. Gold climbed as weak U.S. data led to speculation that interest rates could remain constant. However, yesterday’s strong U.S. data pushed the price back down. The stock market is also rallying as earnings season is bringing mostly positive results. Climbing stocks cut demand for the metal as they act as an alternative investment.
Today’s Main Events:
08.30 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.
12.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
14.00 GMT: CAD – BOC Monetary Policy Report – gives investors a detailed insight into the economic conditions that influenced the decision on where to set interest rates.
15:15 GMT: CAD – BOC Press Conference – Quarterly, after the release of BOC Monetary Policy Report
21.45 GMT: NZD – CPI – measures the change in the price of goods and services from the perspective of the consumer
October 22, 2014 – Daily Market News
Today’s Hot Assets: USD, CAD, Oil
U.S. stocks sharply rose following a range of upbeat earnings and data. The strong data re- ignited speculation that the Fed could raise interest rates sooner than the second half of 2015.Hopes of additional stimulus in Europe also boosted sentiment. At session close the S&P 500 was 1.96% higher and the Dow Jones was 1.31% higher. Asian markets also saw strong gains. The Nikkei soared 2.64% higher as the Dollar made gains against the Yen. The increase came after Japanese trade data which weakened the Yen. Imports and Exports were both higher than expected, however, the Trade balance showed a worse than expected trade deficit as imports were higher than exports. The Hang Seng added 1.37% as the market followed sentiment in the U.S. Continued talks between the government and protestors boosted real estate and retailer shares. European markets are higher today following news that the European Central Bank is considering purchasing corporate bonds. Currently the DAX is up 0.56% while France’s CAC 40 is up 0.45% and London’s FTSE 100 is up 0.30%.
WTI Crude is trading choppy between $80.70/barrel and $82.70/barrel. Investors seem to be hesitant to place positions before next month’s OPEC meeting where a decision may be made to cut output as recent months have shown rising supplies and falling demand. Today the American Petroleum Institute will be releasing their inventory report at 2.30pm GMT. Gold climbed as weak U.S. data led to speculation that interest rates could remain constant. However, yesterday’s strong U.S. data pushed the price back down. The stock market is also rallying as earnings season is bringing mostly positive results. Climbing stocks cut demand for the metal as they act as an alternative investment.
Today’s Main Events:
08.30 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.
12.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
14.00 GMT: CAD – BOC Monetary Policy Report – gives investors a detailed insight into the economic conditions that influenced the decision on where to set interest rates.
15:15 GMT: CAD – BOC Press Conference – Quarterly, after the release of BOC Monetary Policy Report
21.45 GMT: NZD – CPI – measures the change in the price of goods and services from the perspective of the consumer
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