07

Jan

US stocks dropped for a fifth day. Falling oil prices continued to knock sentiment pushing investors to less risky assets.  Negative data was also released.

Asian markets climbed across the region. The Nikkei added 0.01% as the Dollar climbed against the Yen. The Hang Seng added 0.83% due to a possible technical rebound after falling a day earlier.

European markets are higher today due to hopes of increased stimulus. The yearly CPI declined by 0.2% and such a weak figure hasn’t been seen since September 2009. This places more pressure on Mario Draghi, the President of the European Central Bank, to make changes at the next meeting taking place on January 22.

Oil dropped to a fresh 6 year low of 46.8/barrel. The pressure of increasing supplies and lower demand is having a big impact on the market. A slight rebound was seen after the EIA released that inventories declined by 3million barrels over the past week but the price is still trading below $50/barrel.

Gold climbed as a safe haven asset. The stock market also declined as investors ditched riskier assets. The price declined slightly on the back of positive U.S data but it seems as though the market is awaiting the FOMC meeting minutes. Traders are looking for clues regarding an interest rate hike which seems more and more likely. If hawkish comments are made, the metal becomes more undesirable and we could see it drop back down.

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US markets dropped, suffering their largest losses seen in 3 months. The selloff was triggered by crude oil prices as they fell through $50/barrel. Concerns also mounted as the Euro declined on political developments in Greece and monetary stimulus expectations.

Asian markets were mostly lower across the region. Losses were seen as the Yen strengthened as a safe haven asset due to fears over Europe and falling oil prices.

European markets are mixed today.

Oil lost 5% and fell through its psychological level at $50/barrel. The commodity is now trading at its lowest price since April 2009 around $48.75.barrel. The price is under pressure due to rising supplies and falling demand, concerns regarding Greek debt and the climbing Dollar. The API will be releasing inventory data at 9:30pm GMT.

Gold benefited as a safe haven asset and climbed past $1,200/ ounce. Traders are focusing on Greece with worries another debt crisis could occur. Traders should keep in mind that the FOMC Meeting Minutes will be released tomorrow and the NFP report will come on Friday.

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US markets finished mixed on Friday following weaker than expected data. Volatility remained low as many traders took a long weekend after the New Year’s celebrations.

Asian markets were mixed today. The Nikkei lost 0.24% after a 5 day holiday. Losses were seen as the Yen strengthened slightly as a safe haven asset on the back of events in Europe which sent the Euro to its lowest level in 8 years.

European markets are lower today after the Euro dropped to an 8 year low. Speculation is ripe that the European Central Bank will introduce further stimulus to avoid deflation following comments from Draghi last week. However, fears have surfaced over political developments in Greece. Elections will occur on January 25 and if the far left part, Syriza, gain power they could get rid of the austerity program.

Oil dropped to a new 6 year low $50.7/barrel. The market continues to react to fears regarding increasing supplies and falling demand. The price is very close to a key psychological of $50/barrel and if it breaks through this many producers may be forced to cut production as costs will exceed prices.

Gold is climbing as a safe haven asset and as physical demand increased from China. The price is currently testing its resistance as $1,200.

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US markets finished mixed. Sentiment was hit by worries over economic stability in Europe following a third parliamentary election which failed to appoint a new President.

Asian markets declined across the region. During its last trading day of 2014, the Nikkei lost 1.57% as the Yen strengthened following a tax cut on corporate income.

European markets are lower today due to falling oil prices and uncertainty regarding Greece. Greece is now headed for elections and the parliament will be dissolved after the Prime Minister failed to convince parliament to vote in a new President. Investors are worried that the far left party could take power and renegotiate the terms of their bailout. They could also reverse economic reforms and hurt recovery in the Euro zone as a whole.

Oil dropped to a new 5 year low of $53/barrel in anticipation of weekly supply data. The price has decline 50% since June as supplies have been climbing and demand is not on the upside. Energy companies are now struggling with the lower prices and so producers may be forced to cut output to lower prices.

Gold dropped yesterday as the Dollar strengthened and the US stock market rallied for seven consecutive sessions. The price rebounded today as the Dollar declined against the Yen and global stocks declined on instability fears from Greece.  Pay attention to US CB Consumer Confidence data at 3:00pm GMT.

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US markets moved higher on Friday reaching records once again. The gain came after markets were closed for the Christmas Holidays.

Asian markets were mixed across the region. The Nikkei lost 0.5% due to reports that a man is being tested for Ebola in Tokyo.

European markets are lower today after a third round of parliamentary elections in Greece failed. Greece now faces elections in January as parliament failed to elect Stavros Dimas as the new President. The parliament will now be dissolved and an election date will be called within 10 days.

Oil climbed due to unrest in Libya. Tanks were set on fire by militants at Libya’s largest oil port destabilizing production. This lowered supply and pushed prices higher. Gains are limited however as supply still remains very high.

Gold climbed strongly on Friday and almost reached $1,200/ounce due to rumours that China will increase monetary stimulus and loosen its lending policy. The metal is now falling back down as the Dollar strengthens. It is likely it could reach its support level as there is not much in the market to give it a boost today.

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