October 15, 2013 - Daily Market News
The U.S. government has been partially closed since October 1 . Thousands of state employees on unpaid leave and the U.S. is in danger of default . Senate leaders have said they are optimistic compromise will be this week. Harry Reid , Senate Majority Leader said that tremendous progress had been made. This brings positive news in the market , but if the decision is not made by Thursday (Oct 17) the government will run out of borrowing power and start missing debt payments. After the news , stocks moved mostly higher. U.S. stocks rose erasing previous losses in the S & P 500 closed 0.41% higher, and the Down Jones also close 0.4 % higher. Asian stocks took Nikkei closing 0.26% higher and Hang Seng rose 0.48% . European stocks opened mostly higher , now, the FTSE 100 rose 0.65% and the DAX 0.49% .
The price of gold is up , but is close to 3 month minimum . There is bearish sentiment and Gold is no longer the safe haven metal. It is still expected to gradually of quantitative easing will begin at the end of the year as suggested in Septembers release of FOMC minutes . WTI is trading slightly higher due to expectations of a contract. Investors also saw oil to oversold and enter the market at low prices.
Binary Options investors should look out for any decision made today to re- open government. If a compromise is made by lawmakers that will affect the dollar and gold , and they will create a great set ups for some profitable business.
Highlights of today:
08:30 GMT : GBP - CPI (MOM ) / ( year ) - measures changes in prices of goods and services from a consumer perspective . It is a key way to measure changes in purchasing trends and inflation.
09:00 GMT : EUR - German ZEW Economic Sentiment - gauges the six -month economic outlook . A level above zero indicates optimism, below indicates pessimism . The reading is compiled from a survey of about 350 German institutional investors and analysts.
12:30 GMT : USD - NY Empire State Manufacturing Index - prices relative level of general business conditions New York State. A level above 0.0 indicates improving conditions, below indicates worsening conditions. The reading is compiled from a survey of about 200 manufacturers in New York State.
14:00 GMT : USD - FOMC Member Dudley Speaks - Federal Reserve Bank of New York he serves as the vice chairman and a permanent member of the Federal Open Market Committee ( FOMC ) voting figures ( 2009-2013 ) William C. Dudley is speaking. FOMC members are responsible for setting standards and controls their growth are closely watched for clues about the future possible direction of monetary policy.
23.15 GMT : USD - FOMC Member Fisher Speaks - Federal Reserve Bank of Dallas President and Federal Open Market Committee ( FOMC ) voting member (2008 and 2011 ) Richard Fisher is speaking. FOMC members are responsible for setting standards and controls their growth are closely watched for clues about future possible direction of monetary policy
