20/11/2013 - November Daily Review
- Mark Densel
- English
- MARKETS NEWS
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November 20, 2013 - Daily News Market
Hot active today : GBP , USD, gold
The OECD has cut its global growth forecast yesterday because of the outstanding trust and market stability . This sentiment and stocks fell down. At the end of the U.S. session the S & P 500 fell 0.2% and the Dow Jones was down 0.07%. Today , markets are generally quiet as investors await the results of the minutes of the FOMC meeting to be released 19 hours (GMT) . This along with other key data such as retail sales in the United States could provide more insight into where the narrowing of quantitative easing can begin. Asian stock markets were generally lower than Japan reported a high trade deficit , which was much worse than expected and the Nikkei closed 0.33% lower . The Hang Seng, however, remained in positive numbers as positive sentiment remains after China promised to introduce economic reforms . European stocks opened mixed to lower .
Bernanke told the National Press Club economists and as expected has taken a favorable position to the status quo on monetary policy . WTI rose as the dollar weakened . Nuclear talks resume today with Iran (formerly the second largest oil producer ) . The production of oil from Iran has dropped 16 % since sanctions were imposed on its program. Gold was steady throughout the hours of trading yesterday . It is now slightly lower edges in the cautious trade before the publication of the data. It has already been established in the market that the Fed will not start typing the monetary stimulus that has been proven soon after Bernanke's speech did not cause movement. Physical demand remains weak traders should wait for the minutes of the FOMC meeting before placing positions.
Main events of the day :
0930 GMT : GBP - MPC Meeting Minutes - a detailed account of the Bank of the meeting as part of the policy of England , containing a deep insight into the economic conditions that influenced the decision on where to set rates interest . The distribution of votes in interest rates of MPC members tend to be the most important part of the minutes.
13:30 GMT : USD - Core CPI (MoM) / (YoY ) - measures changes in the prices of goods and services , excluding food and energy . The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation .
13:30 GMT : USD - Core Retail Sales (MoM) - measures the change in the total value of retail sales in the United States , with the exception of automobiles. It is an important indicator of consumer spending and is also considered an indicator of pace for the U.S. economy.
13:30 GMT : USD - Retail Sales ( MoM) - measure the change in the total value of inflation-adjusted sales at the retail level . It is the foremost indicator of consumer spending , which accounts for the majority of overall economic activity .
15:00 GMT : USD - Existing home sales - measures changes in the annualized number of existing residential buildings that were sold during the previous month. This report measures the strength of the U.S. real estate market and is a key indicator of global economic power.
19.00 GMT : USD - Minutes of the FOMC meeting - a detailed account of the meeting setting policy committee held two weeks earlier. The minutes provide a detailed report on the position of the FOMC monetary policy, so that traders scrutinize clues regarding the outcome of decisions on future interest rate view .