31/03/2014 - March Daily Review
- Mark Densel
- English
- MARKETS NEWS
- Hits: 1788
March 31, 2014 - Daily Market News
Today's Hottest Assets : EUR, CAD, USD, GBP
U.S. stock indexes rose on Friday after positive consumer spending data, which grew at the fastest pace since November. However, the Michigan consumer confidence released later the same day was lower than expected and showed the lowest level since November, causing stocks to lose some of their gains. At the close of trading in the U.S., the Dow Jones was up 0.36% , S & P 500 totaled 0.46 % and the Nasdaq index was 0.11 % higher. Asian markets were mostly higher today due to hopes of increased stimulus in China. Hang Seng closed 0.33% higher after Chinese banks posted strong earnings. Nikkei index closed 0.9 % higher , despite the release of negative industrial production data , as the yen remains weak against the dollar , which is trading at 102.9 yen. Market focus now will turn to Chinese Manufacturing PMI release tomorrow. European stocks opened the week rising as investors await European CPI at 10am (GMT). Analysts expect inflation to fall to 0.6 %, which could add more pressure on the ECB to ease monetary policy at its meeting this Thursday .
WTI Crude is trading near 3- week high because of geopolitical concerns about Russia - the situation in Ukraine . In talks yesterday, it was agreed that a common language must be made to suit the interests of the Ukrainian people. EU and U.S. also threatened to increase sanctions placed on Russia. Speculation increased stimulus in China and the positive data from the U.S. also supported prices. Gold continues to decline following signs of a strong U.S. economy. Yellens comments that interest rates may be raised also did a lot of pressure on prices. Yellen will speak again today at 1:55 pm (GMT).
Today's Highlights:
09.00 GMT : EUR - Consumer Price Index - measures the change in prices of goods and services from a consumer perspective . This is a key way to measure changes in purchasing trends and inflation.
12.30 GMT : CAD - GDP - measures the annual change in value of inflation of all goods and services produced in the economy
13.55 GMT : USD - Fed Chairman Yellen says - has come to the National Community Reinvestment interagency conference in Chicago
17.15 GMT : GBP - Bank of England Government Carney says - Through participation in a press conference at the Bank of England in London