December 5, 2013 - Daily Market News
The Assets: GBP, EUR, USD
U.S. data was mixed . Stocks fell as investors turned cautious . The ADP Nonfarm Employment Change came out positive and stimulating bets that the Fed could represent tapering earlier than March 2014. The S & P 500 closed 0.13 percent lower and the Dow Jones closed 0.16 % lower . Asian shares also fell , with the Nikkei closed 1.5 percent lower , as the dollar weakened against the yen and the Hang Seng closed 0.17 % lower . European stocks fell yesterday following a weak European data and negative numbers in the beginning of the FTSE 100 was trading 0.25 % lower and the DAX was 0.4 % lower . Today is another big data and data investors need to focus on U.S. GDP 1.30pm GMT as well as the interest rates of the European Central Bank and the Bank of England decision making .
WTI above about 5 weeks after the fall of the stock . OPEC said that the product will remain stable and good price for everyone . Positive data from the U.S. also hoped to inspire a healthy recovery and this may lead to a greater demand to push prices higher . Gold climbed to its highest level in six weeks after mixed data . It then fell slightly as investors locked in gains and risk over the long term calls . The data will provide more clues to the performance of the U.S. economy and may give hints on when to start tapering . Traders should also watch out for tomorrow's Nonfarm Payroll report 1.30 PM GMT.
Today's main events.
12.00 GMT: GBP - Interest Rate Decision - Bank of England (BOE) Monetary Policy Committee members attended where to set interest rates . Traders watch interest rate changes closely short-term interest rates are the primary factor in currency valuation.
12.45 GMT: EUR - interest rate decision by the six- member European Central Bank ( ECB ) Executive Board and the governors of the 16 euro zone central banks vote on where to set interest rates . Traders watch interest rate changes closely 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 about 45 minutes after the monthly Minimum Bid Rate is announced . The conference is approximately one hour long and has two parts . First, read a prepared statement to the press conference is open to question . Conference examines the factors that affect the ECB 's interest rate decision , and engaged in the economic outlook and inflation . Most importantly , it provides clues regarding future monetary policy .
13.30 GMT: USD - GDP measures the annualized change in the inflation adjusted value of all goods and services produced in the economy. It is a broad measure of economic activity and the primary indicator of economic health .
