US markets climbed, marking their first increase of 2015. Data continued to show improvement in the labour market with the ADP Nonfarm Employment Change showing that 241,000 jobs were created last month. The FOMC meeting minutes were also released and showed that it is unlikely that interest rates will be increased before April. The minutes also showed that the Fed believes that lower oil prices will be a net positive for the economy and the labour market. Overall, no new information was released and the market welcomed the ‘patient’ stance.
Asian markets were mostly higher across the region. The Nikkei added 1.67% as the Dollar climbed against the Yen reaching 119.8 by the end of the Asian session.
European markets are higher today due to strong speculation that the European Central Bank will add stimulus to the economy. This is taken as a positive for equities as more liquidity enters the market. Positive Retail Sales data was also released from the Euro zone.
Oil dropped to its lowest price since April 2009 at $46.75/barrel. However, later in the day, the EIA released data showing that inventories declined by 3 million barrels over the past week. This came a day after the API reported that inventories declined by 4 million barrels and pushed the price up slightly to a high of $49.5/barrel. It is likely we could see the pair drop down but for now volatility is low.
Gold dropped as the stock market rallied and oil prices rebounded from their 5 year low. Positive data from the US also boosted the Dollar, pushing the metal back down. Today, the price rebounded upwards following worse than expected Initial Jobless Claims data.
Traders should focus on the NFP report and Unemployment rate being released from the US tomorrow.
Ask us about our FREE signals program: 
Other top stories:
Countless Already Joined and Made a Profit - What About You?
The Importance of Diversification
How I Made Over $30,000 a Year by Investing in Binary Options
Follow us and SHARE this story on Facebook/Twitter:
