August 14, 2013 - Market News Daily
Asian trading volumes were low and Hong Kong trade has been canceled due to the typhoon caused Asian stocks rise for a fifth day. U.S. core retail sales advanced economies and expanding German and French at a higher rate than anticipated. Eurozone seems to be picking up. As a result, U.S. stocks are up and European stock futures also gained.
WTI rose after U.S. data and Libya would open its port main oil exporting today, but output has fallen after intermission. Gold is choppy trade as investors are still awaiting a decision on monetary policy, as all positive data adds to the case for the Fed to reduce monetary stimulus.
Euro gained after two German and French GDP grew by 0.7% and 0.5% respectively. The U.S. dollar index is also going up and signs suggest the Fed could start tapering in September which will be an opportunity for binary options trading.
Key events today:
08:30 GMT: GBP - MPC Minutes - a detailed record of the Bank of England's policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates. Sharing vote rate of interest MPC members tend to be the most important part of the minutes.
09:00 GMT: EUR - GDP (QoQ) - measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. This is a broad measure of economic activity and the leading indicator of economic health.
12:30 GMT: USD - Core PPI y / y, m / m - measures the change in the selling price of goods and services sold by producers, excluding food and energy. PPI measures price change from the perspective of the seller. When manufacturers pay more for goods and services, they are more likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation.
17:20 and 19:15 GMT: USD - FOMC Member Bullard Speaks - Federal Reserve Bank of St. Louis President and Federal Open Market Committee (FOMC) voting member (March 2011 - present) James Bullard is to speak. FOMC members are responsible for setting the interest rate and their speeches are closely watched for indications on the future possible direction of monetary policy
