U.S. stocks declined as investors flocked to safe haven assets amid protests in Hong Kong and tension in Syria. U.S. data was mixed; Personal Spending increased 0.5% during the past month, however, Pending Home Sales declined 1% in the past month. During the session worries began to subside and stocks lifted off their lows but still finished down for the day. The S&P 500 lost 0.25% and the Dow Jones lost 0.25%. Asian markets were mostly lower across the region. The Nikkei lost 0.84% following a range of data. Industrial Production declined 1.5% during the past month hitting shares of exporters. The Yen also gained as a safe haven asset during the Asian session. The Hang Seng lost 1.28%, experiencing its biggest decline since 2012, as protests continued to affect markets and concerns that Chinese growth is declining. Goldman Sachs, an investment banking firm, cut their outlook for growth in China to 7.1% from 7.6%. European markets are mixed today after negative inflation data from the Euro zone. The Core CPI showed a yearly increase of 0.7%, lower than the expected 0.9% and the overall CPI showed an increase of 0.3% marking the lowest annual rate since 209. This may pressure the European Central Bank further to act and inject more money into the economy. The ECB interest rate decision and press conference will occur on Thursday and will be closely watched. Currently, the CAC 40 is up 0.93% while the DAX gains 0.34%. The FTSE 100 is off 0.06%.
WTI Crude climbed ahead of tomorrow’s inventory report. The forecast is to see a decline of 4.3 billion barrels. The positive Personal spending data from the U.S. also supported prices as it suggests the economy will grow. Today, traders should pay attention to the U.S. CB Consumer Confidence index as well as the American Petroleum Industry report. Gold is falling as the Dollar strengthens as investors are speculating that the U.S. will raise interest rates soon. Lots of important data will be released this week including the Nonfarm Payrolls report and ECB Interest Rate Decision and these should create short term volatility for the metal.
Today’s Main Events:
08.00 GMT: EUR – German Unemployment Change – measures the change in the number of unemployed people during the previous month.
08.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
12.30 GMT: CAD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity
September 30, 2014 – Daily Market News
Today’s Hot Asset: EUR
U.S. stocks declined as investors flocked to safe haven assets amid protests in Hong Kong and tension in Syria. U.S. data was mixed; Personal Spending increased 0.5% during the past month, however, Pending Home Sales declined 1% in the past month. During the session worries began to subside and stocks lifted off their lows but still finished down for the day. The S&P 500 lost 0.25% and the Dow Jones lost 0.25%. Asian markets were mostly lower across the region. The Nikkei lost 0.84% following a range of data. Industrial Production declined 1.5% during the past month hitting shares of exporters. The Yen also gained as a safe haven asset during the Asian session. The Hang Seng lost 1.28%, experiencing its biggest decline since 2012, as protests continued to affect markets and concerns that Chinese growth is declining. Goldman Sachs, an investment banking firm, cut their outlook for growth in China to 7.1% from 7.6%. European markets are mixed today after negative inflation data from the Euro zone. The Core CPI showed a yearly increase of 0.7%, lower than the expected 0.9% and the overall CPI showed an increase of 0.3% marking the lowest annual rate since 209. This may pressure the European Central Bank further to act and inject more money into the economy. The ECB interest rate decision and press conference will occur on Thursday and will be closely watched. Currently, the CAC 40 is up 0.93% while the DAX gains 0.34%. The FTSE 100 is off 0.06%.
WTI Crude climbed ahead of tomorrow’s inventory report. The forecast is to see a decline of 4.3 billion barrels. The positive Personal spending data from the U.S. also supported prices as it suggests the economy will grow. Today, traders should pay attention to the U.S. CB Consumer Confidence index as well as the American Petroleum Industry report. Gold is falling as the Dollar strengthens as investors are speculating that the U.S. will raise interest rates soon. Lots of important data will be released this week including the Nonfarm Payrolls report and ECB Interest Rate Decision and these should create short term volatility for the metal.
Today’s Main Events:
08.00 GMT: EUR – German Unemployment Change – measures the change in the number of unemployed people during the previous month.
08.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
12.30 GMT: CAD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity
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