U.S. stocks finished the week with gains as the U.S. economy continued to improve and posted positive data. Both the Chicago PMI and Michigan Consumer Expectations beat expectations boosting the U.S. Dollar. At session close the S&P 500 was 0.33% higher at 2,003.37and the Dow Jones was 0.11% higher at 17,098.45. Asian markets climbed across the region. The Nikkei added 0.34% as the Dollar climbed against the Yen. The Dollar is currently buying ¥102.245 compared to ¥103.997 on Friday. The Hang Seng added 0.04% as investors chose to shrug off weaker than expected Manufacturing PMI and HSBC Manufacturing PMI data. Traders will now question whether policy makers will add stimulus to spur the economy. European markets are lower today as attention is turning to the worsening tension in Ukraine and increased sanctions. The European Central Bank will release their Interest Rate decision and hold a press conference on Thursday. Currently, the CAC 40 is down 0.34% while Germany’s DAX is off 0.23% and London’s FTSE 100 is lower by 0.11%.
WTI Crude is climbed following positive U.S. data suggesting that demand for oil could increase. Hedge Funds have also suggested placing Call positions on Crude oil following a recent drop in prices. Support is also added from the escalating tension in Ukraine which could result in increased sanctions against Russia and limit energy supplies. Gold increased slightly as a safe haven asset. Volatility is expected to be low today as the U.S. market is closed for Labour Day. Traders should remain up-to- date as any escalation in Ukraine could cause a sharp rise in the price.
Today’s Main Events:
06.00 GMT: EUR – German GDP – Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator of economic health. The quarterly percent changes in GDP show the growth rate of the economy as a whole.
08.00 GMT: EUR – German Manufacturing PMI – Measures the activity level of purchasing managers in the manufacturing sector.
08.30 GMT: GBP – Manufacturing PMI – Measures the activity level of purchasing managers in the manufacturing sector.
September 1, 2014 – Daily Market News
Today’s Hot Asset: EUR/GBP
U.S. stocks finished the week with gains as the U.S. economy continued to improve and posted positive data. Both the Chicago PMI and Michigan Consumer Expectations beat expectations boosting the U.S. Dollar. At session close the S&P 500 was 0.33% higher at 2,003.37and the Dow Jones was 0.11% higher at 17,098.45. Asian markets climbed across the region. The Nikkei added 0.34% as the Dollar climbed against the Yen. The Dollar is currently buying ¥102.245 compared to ¥103.997 on Friday. The Hang Seng added 0.04% as investors chose to shrug off weaker than expected Manufacturing PMI and HSBC Manufacturing PMI data. Traders will now question whether policy makers will add stimulus to spur the economy. European markets are lower today as attention is turning to the worsening tension in Ukraine and increased sanctions. The European Central Bank will release their Interest Rate decision and hold a press conference on Thursday. Currently, the CAC 40 is down 0.34% while Germany’s DAX is off 0.23% and London’s FTSE 100 is lower by 0.11%.
WTI Crude is climbed following positive U.S. data suggesting that demand for oil could increase. Hedge Funds have also suggested placing Call positions on Crude oil following a recent drop in prices. Support is also added from the escalating tension in Ukraine which could result in increased sanctions against Russia and limit energy supplies. Gold increased slightly as a safe haven asset. Volatility is expected to be low today as the U.S. market is closed for Labour Day. Traders should remain up-to- date as any escalation in Ukraine could cause a sharp rise in the price.
Today’s Main Events:
06.00 GMT: EUR – German GDP – Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator of economic health. The quarterly percent changes in GDP show the growth rate of the economy as a whole.
08.00 GMT: EUR – German Manufacturing PMI – Measures the activity level of purchasing managers in the manufacturing sector.
08.30 GMT: GBP – Manufacturing PMI – Measures the activity level of purchasing managers in the manufacturing sector.
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