U.S. stocks finished with little change as investors waited on the sidelines before today’s labour data. U.S. data was also positive once again with initial jobless claims falling by 8000 to 287,000 during the past week. Volatility was expected following the European Central Bank’s interest rate decision and press conference however rates remained unchanged. Draghi did not provide a lot of new information but stated that the bank will buy assets over the next two years. At session close the S&P 500 was even at 1,946.17 and the Dow Jones was 0.02% lower at 16,801.05. Asian markets climbed across the region. The Nikkei added 0.3% as the Dollar rebounded against the Yen climbing back to a high of 108.9. The Hang Seng added, 0.64% after taking a break for holidays. European markets are higher today as markets mostly rebound from their sell off. The ECB offered no indication that it will greatly increase their quantitative easing but stated that purchases will begin later this year and should impact the balance sheet sizably. Currently, The CAC 40 is up 0.55% while the FTSE 100 is up 0.63%. The German DAX is closed. The Nonfarm Payroll report will be released today at 12.30 pm GMT and the expectation is to see an increase of 220,000 jobs during the previous month.
WTI Crude rebounded slightly from its fall after Saudi Arabia cut its selling prices to the U.S., Europe and Asia. Investors are awaiting the NFP report to try and gauge demand from the U.S. Gold continues to decline as speculation is still ripe that the Fed will raise rates sooner. Gold traders should focus on today’s data from the U.S. as it should provide some great short term trading opportunities. The Unemployment rate will also be released at the same time as NFP and is expected to remain at the same level of 6.1%.
Today’s Main Events:
08.30 GMT: GBP – Services PMI – measures the activity level of purchasing managers in the services sector.
12.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry.
12.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
14.00 GMT: USD – ISM Non- Manufacturing Index – calculated as an indicator of the overall economic condition for the non-manufacturing sector.
October 3, 2014 – Daily Market News
Today’s Hot Assets: USD, Gold
U.S. stocks finished with little change as investors waited on the sidelines before today’s labour data. U.S. data was also positive once again with initial jobless claims falling by 8000 to 287,000 during the past week. Volatility was expected following the European Central Bank’s interest rate decision and press conference however rates remained unchanged. Draghi did not provide a lot of new information but stated that the bank will buy assets over the next two years. At session close the S&P 500 was even at 1,946.17 and the Dow Jones was 0.02% lower at 16,801.05. Asian markets climbed across the region. The Nikkei added 0.3% as the Dollar rebounded against the Yen climbing back to a high of 108.9. The Hang Seng added, 0.64% after taking a break for holidays. European markets are higher today as markets mostly rebound from their sell off. The ECB offered no indication that it will greatly increase their quantitative easing but stated that purchases will begin later this year and should impact the balance sheet sizably. Currently, The CAC 40 is up 0.55% while the FTSE 100 is up 0.63%. The German DAX is closed. The Nonfarm Payroll report will be released today at 12.30 pm GMT and the expectation is to see an increase of 220,000 jobs during the previous month.
WTI Crude rebounded slightly from its fall after Saudi Arabia cut its selling prices to the U.S., Europe and Asia. Investors are awaiting the NFP report to try and gauge demand from the U.S. Gold continues to decline as speculation is still ripe that the Fed will raise rates sooner. Gold traders should focus on today’s data from the U.S. as it should provide some great short term trading opportunities. The Unemployment rate will also be released at the same time as NFP and is expected to remain at the same level of 6.1%.
Today’s Main Events:
08.30 GMT: GBP – Services PMI – measures the activity level of purchasing managers in the services sector.
12.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry.
12.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
14.00 GMT: USD – ISM Non- Manufacturing Index – calculated as an indicator of the overall economic condition for the non-manufacturing sector.
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