16/04/2014 - April Daily Review
- Mark Densel
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April 16, 2014 - Market News Daily
Today Hot Assets: EUR , GBP , USD , CAD
The conflict in Ukraine continues to grow . Ukraine launched a military operation against activists in an attempt to regain control of Ukrainian cities . The news increased market fears that tensions could worsen . U.S. stocks traded choppy throughout the session taken by updates to the Ukraine , but also for positive results . Coca - Cola and Johnson & Johnson both reported stronger earnings than expected bringing some optimism to the market . Stocks rose on feeling like he was raised ; the S & P 500 closed 0.68 % higher and the Dow Jones closed 0.55 % higher . Asian stocks also advanced after upbeat Chinese data . China 's GDP grew 7.4 % in the first quarter , slightly better than economists expected. The data seemed to ease concerns about slowing Chinese economy and immediately after the results , the markets reacted positively Hong Kong and the Hang Seng closed 0.11 % higher . The Nikkei also rose as the yen weakened against the dollar . The dollar is buying 102.3 yen up from 101.86 yen yesterday . European markets are higher today following positive sentiment from China . Marketers should focus on inflation data for the eurozone being released at 10am GMT . Inflation has been in the spotlight recently due to fears that deflation is increasing pressure for the ECB to ease monetary policy and maintain price stability .
WTI crude is rising again and reached six weeks of high , due to increasing tension in Ukraine . Positive Chinese GDP also added support suggests that demand will grow . The EIA is launching inventory data later in the day ( 15:30 GMT ) and is expected to report an increase in oil supplies in the U.S. a week so traders should closely watch these figures . Gold is trading near a weekly low as the dollar strengthened on the back of positive data from the United States . The data leads to speculation that the Fed could choose up the current pace of gradual reduction that would have a low effect on metal . The physical demand is also low . Marketers should focus on Janet Yellen speech later in the day at 17:15 GMT .
Today Main events :
09:30 GMT : GBP - Claimant Count Change - measures the change in the number of unemployed people in the UK during the month of reference
10:00 GMT : EUR - CPI - measures the change in prices of goods and services from the perspective of the consumer.
13:00 GMT : USD - FOMC member Stein Speaks - Due to a speech at the Federal Reserve Bank Financial Markets Conference in Atlanta in Stone Mountain
13:30 GMT : USD - Licenses for construction - measures the change in the number of new building permits issued by the government . Building permits are a key indicator of demand in the housing market .
15:00 GMT : CAD - Rate Interest -making - Bank of Canada ( BOC ) governing council reached a consensus on where to set the rate . Traders watch changes in interest rate interest rates about as short term are the main factor in the currency appreciation .
17:15 GMT : USD - Fed President Yellen Speaks - Due to speak at the Economic Club of New York
18:25 GMT : USD - FOMC Member Fisher Speaks - Due talking U.S. and regional economic outlook in Texas Public Policy Foundation Conference