25/03/2014 - March Daily Review
- Mark Densel
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March 25, 2014 - Daily Market News
Today's Hot Assets : EUR, GBP, USD
Late last week, the Western Allies decided to put more sanctions against Russia in an attempt to alleviate the geopolitical situation in Ukraine. Asset freeze and visa ban still available on many Russian and Ukrainian , and after the meeting in The Hague yesterday, it was decided to suspend Russia from the G -8. Some banks are now saying that Russia could enter a recession, which could lead to a slowdown in global economic recovery. U.S. stocks fell yesterday weak Manufacturing PMI data signaled a slowdown in U.S. manufacturing. Losses in companies from Netflix on Facebook also dragged indices lower. At the close of trading in the U.S., the Dow Jones fell by 0,16%, S & P 500 fell 0.49 % and the Nasdaq fell 1.18% . Stocks in Asia also fell . The Nikkei lost 0.36 % , slightly aiena strengthened against the dollar and the Hang Seng lost 0.45% as skepticism emerged about the desired economic stimulus measures . European stocks opened higher as investors on the same day waiting for data. Business climate index and the German Ifo business expectations will both be released at 9am (GMT).
WTI Crude is trading choppy due to the mixed data. The situation in Ukraine is pushing prices higher while weak data from China to counteract this movement. Today it is again rising higher as the oil spill caused seaport U.S. to close . Houston Ship Channel was also closed due to a collision that puts some pressure on the bullish commodity. Traders should watch the stock data from the API on the same day ( 8:30 pm GMT). Gold reached a five -week low , as the market continues to react to the news that the Federal Reserve may raise interest rates as early as April 2015. Today, the yellow metal rises , as the situation in Ukraine, once again increasing the demand for security zone assets. Gold is also climbing ahead of economic data coming in on the same day . Traders should be focused on the U.S. Consumer Confidence and New Home Sales release at 2 pm (GMT)
Today's main event:
09.00 GMT: EUR - German Ifo business climate index - rates current German business climate and measures expectations for the next six months
0930 GMT : GBP - Consumer Price Index - measures the change in prices of goods and services from a consumer perspective .
1400 GMT : USD - Consumer Confidence - measures the level of consumer confidence in economic activity.
1400 GMT : USD - New Home Sales - measures in the annual number of new single-family homes that were sold during the previous month
16.00 GMT : EUR - ECB President Draghi Speaks - to speak at Sciences Po in Paris
23.00 GMT : USD - FOMC Member Plosser Speaks - Due to talk about the economic outlook and monetary policy on money marketeers NYU . Audience questions expected