1 November 2013 - Daily Market News
Today's Hot Assets : USD
The Federal Reserve issued a statement earlier in the week following its two -day meeting . The statement shows that they believe that market conditions have continued to improve and that fiscal policy is the restriction of economic growth. You also realize that if inflation remains below 2% , it could hinder economic performance. However , the economy has not needed to the extent that improved to cut monetary stimulus . They will continue to evaluate data and information in the coming months and make a decision to cut the $ 85000000000 securities purchases accordingly. Investors seem to believe that the tapered now come earlier than expected , while maintaining the quantitative easing . U.S. stocks have continued to fall since the statement and the S5P 500 closed 0.38 % lower and the Dow Jones closed 0.47 % lower. Asian stocks were mixed at the end of the session. The Hang Seng closed 0.07 % higher, but the Nikkei closed 0.88 % lower. European equities have also opened lower.
WTI increased slightly after Chinese PMI and HSBC Manufacturing PMI came better than expected. This may suggest a higher demand from the second-largest oil consumer and countered worries about U.S. stock market raising stakes . Gold is down slightly after a few good pieces of data from the U.S. adding to speculation that rejuvenation can begin earlier . There are also weaker physical demand , central banks start to their reserves and demand from India sell during the fall festival season .
Today's main event :
13:10 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 benchmark interest rate and their speeches are closely for signs of the future direction of monetary policy.
14:00 GMT : USD - ISM - The Institute for Supply Management ( ISM) Manufacturing Purchasing Managers Index ( PMI) assesses the relative level of business conditions including employment, production , new orders, prices , supplier deliveries and inventories.
The data is compiled from a survey of about 400 purchasing managers in the manufacturing sector .
On the index , a reading above 50.0 indicates industry expansion , below indicates contraction .
