Euro Edges Higher After ECB News, British American Tobacco Drops After Q3 Revenue Slowdown
October 22, 2014 5:56 am
US Stocks rallied on Tuesday boosted by strong results from the tech sector, mainly from Apples’ results. The Dow rose 215 points to close at 16614, while the S&P500 rallied for its fourth consecutive session to close 37 points higher at 1941.
The Dollar dropped slightly against the Yen on the day to trade around 106.84. After the news that the ECB is contemplating buying covered bonds the Euro licked its wounds and edged slightly higher to $1.2728. The Australian Dollar traded at $0.8771, having stuck to its familiar trading ranges between $0.865 and $0.890 in the past few weeks.
Spot Gold was trading near the six week high marked in the previous session and was steady on the day at around $1248. Brent crude added 0.1% to trade at $86.30 a barrel after posting solid gains on Tuesday, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling.
Within the Equities space, BHP Billiton, the world’s biggest mining company, said on Wednesday it was on track to meet its full-year iron ore production guidance after mining a record 62 million tonnes in the September quarter through its Australian operations, a 15% year-on-year increase. British American Tobacco is currently sitting bottom of the FTSE100 after revenue growth slowed in the third quarter. The stock is currently down 4% trading at 3330p.
Today sees the release of US CPI data at 1.30pm. With the figure forecast at 0.2% traders will be looking for further signs that global growth fears are tempered.
US Stocks rallied on Tuesday boosted by strong results from the tech sector, mainly from Apples’ results. The Dow rose 215 points to close at 16614, while the S&P500 rallied for its fourth consecutive session to close 37 points higher at 1941.
The Dollar dropped slightly against the Yen on the day to trade around 106.84. After the news that the ECB is contemplating buying covered bonds the Euro licked its wounds and edged slightly higher to $1.2728. The Australian Dollar traded at $0.8771, having stuck to its familiar trading ranges between $0.865 and $0.890 in the past few weeks.
Spot Gold was trading near the six week high marked in the previous session and was steady on the day at around $1248. Brent crude added 0.1% to trade at $86.30 a barrel after posting solid gains on Tuesday, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling.
Within the Equities space, BHP Billiton, the world’s biggest mining company, said on Wednesday it was on track to meet its full-year iron ore production guidance after mining a record 62 million tonnes in the September quarter through its Australian operations, a 15% year-on-year increase. British American Tobacco is currently sitting bottom of the FTSE100 after revenue growth slowed in the third quarter. The stock is currently down 4% trading at 3330p.
Today sees the release of US CPI data at 1.30pm. With the figure forecast at 0.2% traders will be looking for further signs that global growth fears are tempered.
Related Posts: