07/08/2014 - August Daily Review
- Mark Densel
- English
- MARKETS NEWS
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August 7, 2014 - Market News Daily
Today's Hot Assets: EUR
US stocks closed little changed after a choppy trading session. Losses were seen at the beginning of the session as the markets continued to react to the news that Russia has troops across the border together Ukrainian fears that the global economy could affect spiking. However, when the data was released positive trade balance narrowed to 5 month low, stocks erase losses. At the close session, the S & P 500 even at 1920.24 and the Dow Jones was 0.08% higher. Asian stocks were mixed during today's session. The Nikkei climbed 0.48% as the dollar gained against the yen. The Hang Seng 0.83% decline in stocks after losses Casino. European markets are lower today as traders turn hesitant ahead of the ECB interest rate decision today. There is an ongoing risk of deflation in the Eurozone and investors want to know how the tools Draghi will apply, if any, to address the issue. Currently, the DAX down 0.50% while the French CAC 40 is off 0.38% and London FTSE 100 lower by 0.28%.
WTI crude gained immediately after the EIA reported that supplies fell by 1.8 million barrels during last week. However, the price fell as investors turned their attention to trade data from China that will be released tonight. Gold climbed to an appeal as a safe haven asset increased due to developments between Ukraine and Russia. The price rose further when Russia announced the ban on imports from countries with sanctions. Should the ECB rate and production press conference some great short term trading opportunities.
Today's Key Events:
11:00 GMT: GBP - Interest Rate Decision - Bank of England (BOE) monetary policy committee members vote on where to set the rate
11:45 GMT: EUR - Interest rate decisions of the members of the European Central Bank (ECB) Executive Board and the governors of the 16 euro-area central banks vote on where to set the rate
12:30 GMT: EUR - ECB Press Conference - The press conference is the European Central Bank (ECB) monthly, about 45 minutes after the Minimum Bid Rate is announced
14:00 GMT: CAD - Ivey PMI - Measures Ivey Purchasing Managers Index (PMI) activity level of purchasing managers in Canada