November 7, 2013 - Daily News Market
Today's Hot Assets : EUR
U.S. stocks rise as there is speculation that the next NFP report will not be strong enough to support the taper . S & P 500 closed 0.43% higher and the Dow Jones closed 0.82 % higher . Asian stocks also fell as investors await the outcome of the upcoming U.S. data . Investors are also awaiting the outcome of the ECB 's policy meeting later today. Nikkei closes 0.76 % lower and the Hang Seng closed 0.75 % lower . European stock reached its highest level in 5 years during the session yesterday. They have opened slightly lower today amid speculation that ECBB can reduce the rate to help the economic recovery . Traders should look out for the European interest rate decision at 12:45 GMT and the ECB Press Conference at 13:30 GMT.
WTI rose to its highest level in five weeks after the United States after U.S. gasoline stockpiles declined and oil supplies rose less than expected. It closed lower in Asian session as traders are hesitant to make any moves before the data reach the market . The price of gold has begun. Salary payrolls will be released tomorrow at 13:30 GMT.
Key events today:
11:00 GMT : EUR - German Industrial Production - measures the change in the total inflation adjusted value of output produced by manufacturers , mines , and utilities.
12.00 GMT : GBP - BoE QE Total - The Bank of England electronically creates new money and uses it to buy gilts from private investors such as pension funds and insurance companies.
12.00 GMT : GBP - Interest Rate Decision - monetary policy committee of the Bank of England ( BOE ) vote on where to set the pace . Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation .
12:45 GMT : EUR - Interest Rate Decision - six members of the European Central Bank ( ECB ) Executive Board and the 16 governors of the euro area central banks vote on where to set the pace . Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation .
13:30 GMT : EUR - ECB Press Conference - The European Central Bank ( ECB ) held a press conference every month , about 45 minutes after the Minimum Bid Rate is announced. The conference is about an hour long and has two parts. First, the statement read , then the conference is open to press questions. Press conference examines the factors that affect the ECB's interest rate decision and deal with the overall economic conditions and inflation . Most importantly, it provides guidance about future monetary policy .
13:30 GMT : USD - Continuing Jobless Claims - measures the number of unemployed individuals who qualify for benefits under unemployment insurance .
13:30 GMT : USD - GDP - measures the annual change in the inflation-adjusted value of all goods and services produced by the economy. It is a broad measure of economic activity and the primary indicator of economic health .
13:30 GMT : USD - initial unemployment claims - measures the number of individuals who filed for unemployment insurance for the first time last week . This is the earliest U.S. economic data , but the market impact varies from week to week.
19:00 GMT : EUR - ECB President Draghi Speaks - Mario Draghi (born 3 September 1947 ) was an Italian bank and the economy has been a successful governor of the Bank of Italy and Jean Claude Trichet as President of the European Central Bank from November 2011. As head of the ECB , which controls short-term interest rates , he has more influence on the EUR from any other person
