June 25, 2014 - Daily Market News 

Today's Best Asset: USD 

U.S. shares declined for the selloff of shares. It appears that the markets took a break while some investors believe that it would be because of the increased violence in Iraq. At the close the S & P 500 was 0.64% lower and the Dow Jones was 0.7% lower. Asian shares also fell in quiet trade across the region because of concerns over Iraq. The Nikkei lost 0.71% after investors shrugged off comments by Prime Minister Abe's awaited growth strategy. The Hang England lost 0.06%. European shares traded lower throughout the day as weaker than expected Euro zone and the confidence in the German market was weighed. In the meantime, trade in a mid DAX Germany lost 0.7% to 9,866.64 and the UK's FTSE 100 declined 0.6%. 

WTI crude declined following a pledge from Iraq to increase production and exports. U.S. President Barack Obama also suggested that the prohibition on light oil to the U.S. may be better. The EIA will release inventory data today at 2.30pm GMT and expect to see growth in the following yesterday's report from the API. After dating for most of the day, the higher Gold is rising once again. I further boost the consequences could be very serious, expected U.S. GDP data. Iraq will remain a focus so be sure to stay up-to-date with events. 

Main events of today: 

12.30 GMT: USD - Core durable goods orders - measures change in the total value of new orders once the goods manufactured, excluding transportation items 

12.30 GMTT: USD - GDP - measures annualized change in the value of the inflation-adjustment of all goods and services produced in the economy.