Indices Fall Before ECB Interest Rate Decision; Nonfarm Payrolls
June 4, 2014 7:55 pm
June 4, 2014 – Indices News
Asian markets fell for the most part before US data came out. Though there was no decisive Asian data today, investors were behaving cautiously ahead of the interest rate decision from the European Central Bank and Nonfarm Payrolls data from the United States. Thus, even tomorrow more silence in Asian markets can be expected. Today, the Nikkei was the only market that closed higher, climbing 0.22%. The Hang Seng closed down 0.60% and the ASX 200 closed down 0.46%.
European markets also took a hit ahead of the ECB’s interest rate decision. Considering that inflation data was lower than expected, many were expecting that ECB head Mario Draghi will act to prevent deflation int he Eurozone. However, until the announcement is made tomorrow, investors are bearish and anxious. Furthermore, there was talk that the central bank will need to do even more than they originally planned to do in order to stabilize the European economy. In light of this, the Stoxx closed down 0.10%, the FTSE closed down 0.26%, and the DAX closed up 0.07%.
American markets have risen despite worse than expected trade balance and private sector employment data. Many investors are bullish on equities at the moment ahead tomorrow’s ECB interest rate decision because they feel action will be taken against inflation. Also, the consensus in the United States at the moment is that the labor market is in recovery, and many market participants feel this will be revealed on Friday when the Nonfarm Payrolls data is released. Not surprisingly, the Dow is up 0.08%, the S&P is up 0.17%, and the Nasdaq is up 0.40%.
June 4, 2014 – Indices News
Asian markets fell for the most part before US data came out. Though there was no decisive Asian data today, investors were behaving cautiously ahead of the interest rate decision from the European Central Bank and Nonfarm Payrolls data from the United States. Thus, even tomorrow more silence in Asian markets can be expected. Today, the Nikkei was the only market that closed higher, climbing 0.22%. The Hang Seng closed down 0.60% and the ASX 200 closed down 0.46%.
European markets also took a hit ahead of the ECB’s interest rate decision. Considering that inflation data was lower than expected, many were expecting that ECB head Mario Draghi will act to prevent deflation int he Eurozone. However, until the announcement is made tomorrow, investors are bearish and anxious. Furthermore, there was talk that the central bank will need to do even more than they originally planned to do in order to stabilize the European economy. In light of this, the Stoxx closed down 0.10%, the FTSE closed down 0.26%, and the DAX closed up 0.07%.
American markets have risen despite worse than expected trade balance and private sector employment data. Many investors are bullish on equities at the moment ahead tomorrow’s ECB interest rate decision because they feel action will be taken against inflation. Also, the consensus in the United States at the moment is that the labor market is in recovery, and many market participants feel this will be revealed on Friday when the Nonfarm Payrolls data is released. Not surprisingly, the Dow is up 0.08%, the S&P is up 0.17%, and the Nasdaq is up 0.40%.
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