January 16, 2014 - Daily Market News
Today Hot Assets : EUR , USD
U.S. data yesterday was positive boost market sentiment . The Core PPI increased by 0.3 % and the index NY Empire State manufacturing came out much higher than expected at 12.51 (instead of 3.75 ) . The Beige Book was also released and showed the U.S. economy continues to grow at a moderate pace and that the economic outlook is still positive . As a result U.S. stocks gained as follows disappointment NFP Friday declined. The S & P 500 rose 0.52 % and the Dow Jones rose 0.66 % . Asian stocks were mixed . The Nikkei fell 0.39 % after conflicting data . The Hang Seng , however , increased by 0.37 % after China Mobile received more than 1 million orders for the iPhone before reaching the markets on Friday . European stocks opened with little change , investors should focus on the ECB report at 9:00 am ( GMT) and Core CPI at 10.00 ( GMT ) .
WTI gained momentum after the EIA reported that inventories fell by 7.66 million barrels . As oil production was resumed in Libya Sharara field has been reported that the production has risen to about 600,000 barrels per day . It was also disclosed that exports can increase Iran after an agreement with Russia . Both these factors put some pressure on the price and, consequently , fell during the Asian session. Gold fell after the news that the IMF raised its forecast for global growth and as the dollar showed strength after positive data . The price rebounded today and rose slightly , but investors should focus on U.S. data , including core CPI at 13:30 ( GMT ) and Bernanke's speech at 04:10 ( GMT ) .
Today Main Events :
09:00 GMT : EUR - ECB Monthly Report - contains statistical data that policymakers evaluate when interest rates . The report also provides a detailed analysis of current and future economic conditions from the point of view of the bank.
10:00 GMT : EUR - Core CPI - measures the change in prices of goods and services purchased by consumers , excluding food, energy , alcohol and tobacco
13:30 GMT : USD - Core CPI - measures the price changes of goods and services , excluding food and energy. The CPI measures price change from the perspective of the consumer
15:00 GMT : USD - Philadelphia Fed Manufacturing Index - rates the relative level of general business conditions in Philadelphia .
16:10 GMT : USD - Fed Chairman Bernanke Speaks - Due to a speech entitled " The Fed Yesterday , Today and Tomorrow " at the Brookings Institution in Washington
