04/09/2014 - September Daily Review
- Mark Densel
- English
- MARKETS NEWS
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4th September 2014 - Daily Market News
Today's Hot Assets: EUR, GBP, USD
US stocks finished mixed due to uncertainty ahead of the ECB and NFP says. The data came mainly aim and Beige Book showed that the Fed is sticking with their forecast of moderate growth. The S & P 500 closed 0.08% lower, while the Dow Jones closed 0.06% higher. Asian stocks fell across the region. The Nikkei lost 0.33% as the yen strengthened slightly, trading at ¥ 104,89 compared to ¥ 105,05 the previous day. The Bank of Japan released its monetary policy statement and, as expected, decided to maintain the current level of 60-70 trillion record relaxation. The Hang Seng lost 0.08% after a rally triggered by speculation that stimulus can be added to the economy. European markets are higher when the ECB lowered its interest rate to 0.05% sending the Euro lower. Attention will now turn to the press conference hosted by Mario Draghi. Currently, the CAC 40 is up 0.46%, while the FTSE 100 in London up 0.32% and the German DAX is up 0.02%.
WTI Crude fell after disappointing Chinese data which suggests there could be a reduction in demand. However, the API then reported that supplies fell 500,000 barrels during the last week pushing the price back up. The EIA will release a separate report today at 15:00 GMT. Gold trading choppy around a low 11 weeks as the dollar strengthens. Investors are reluctant to trade the metal ahead of tomorrow's report NFP.
Today's Main Events:
11.00 GMT: GBP - Interest Rate Decision - Bank of England (BOE), the members of the monetary policy committee vote on where to set the speed. Traders watch interest rate changes closely and short-term interest rates are the primary factor in currency appreciation.
11.45 GMT: EUR - Interest Rate Decision - The six members of the European Central Bank Executive Board (ECB) and the 16 governors of the euro area central banks vote on where to set the speed. Traders watch interest rate changes closely and short-term interest rates are the primary factor in currency appreciation.
12.15 GMT: USD - ADP Non-Farm Employment Change - a measure of the monthly change in non-farm, private sector employment, on the basis of salary of about 400,000 US business customers.
12.30 GMT: EUR - ECB Press Conference - Scheduled monthly, about 45 minutes after the Minimum Bid Rate is announced
14 00 GMT: USD - Non ISM Manufacturing PMI - calculated as an indicator of the overall economic situation in the non-manufacturing sector.