U.S. stocks reached record levels once again due to continuing optimism that the Federal Reserve will maintain low interest rates after quantitative easing has ended. Bullish sentiment has remained since Wednesday’s FOMC statement and Press conference hosted by Janet Yellen. The S&P 500 added 0.49%, closing at 2,011.36 and the Dow Jones added 0.64% closing at 17,265.99. Asian markets also climbed across the region. The Nikkei added 1.58% as the Yen continued to fall against the U.S. Dollar, the Dollar was buying ¥108.83 compared to ¥108.57 a day earlier . The benchmark has increased 5% this month after comments from the Governor of the Bank of Japan, Haruhiko Kuroda, stated that the Bank will maintain monetary stimulus until the target inflation rate of 2% is stabilized. The Hang Seng added 0.57% as China’s Central bank cut borrowing costs. This move came after a liquidity injection of $81 billion was announced earlier in the week. British listed banks in Hong Kong were also gaining as the result of the Scottish Referendum was being released. European markets are higher today as the results of the referendum showed that the majority of voters opted to remain in the UK. Currently, the DAX is up 0.85% while London’s FTSE 100 is up 0.74% and France’s CAC 40 is up 0.54%.
WTI Crude dropped and is currently trading below $92/barrel. The decline comes after the EIA released inventory data showing an increase of 3.7 million barrels during the past week. The price is also under pressure as the Dollar strengthens making commodities more expensive to purchase. Gold is ranging around an 8 month low. As the metal moves inversely to the Dollar, recent gains for the currency have pushed the commodity lower. With no key data today we can expect the choppy movement to continue into next week.
Today’s Main Events:
12.30 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy
September 19, 2014 – Daily Market News
Today’s Hot Asset: GBP
U.S. stocks reached record levels once again due to continuing optimism that the Federal Reserve will maintain low interest rates after quantitative easing has ended. Bullish sentiment has remained since Wednesday’s FOMC statement and Press conference hosted by Janet Yellen. The S&P 500 added 0.49%, closing at 2,011.36 and the Dow Jones added 0.64% closing at 17,265.99. Asian markets also climbed across the region. The Nikkei added 1.58% as the Yen continued to fall against the U.S. Dollar, the Dollar was buying ¥108.83 compared to ¥108.57 a day earlier . The benchmark has increased 5% this month after comments from the Governor of the Bank of Japan, Haruhiko Kuroda, stated that the Bank will maintain monetary stimulus until the target inflation rate of 2% is stabilized. The Hang Seng added 0.57% as China’s Central bank cut borrowing costs. This move came after a liquidity injection of $81 billion was announced earlier in the week. British listed banks in Hong Kong were also gaining as the result of the Scottish Referendum was being released. European markets are higher today as the results of the referendum showed that the majority of voters opted to remain in the UK. Currently, the DAX is up 0.85% while London’s FTSE 100 is up 0.74% and France’s CAC 40 is up 0.54%.
WTI Crude dropped and is currently trading below $92/barrel. The decline comes after the EIA released inventory data showing an increase of 3.7 million barrels during the past week. The price is also under pressure as the Dollar strengthens making commodities more expensive to purchase. Gold is ranging around an 8 month low. As the metal moves inversely to the Dollar, recent gains for the currency have pushed the commodity lower. With no key data today we can expect the choppy movement to continue into next week.
Today’s Main Events:
12.30 GMT: CAD – Core CPI – measures the changes in the price of goods and services, excluding food and energy
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