Daily Market Review for February 3rd 2014 Major Economic Data to keep an eye on: Make sure to keep track of economic news related to your open positions. For full Economic calendar, please visit: youtradefx/en/economic-calendar/?cid=13204 China and Mexico – Holiday EUR – Spanish Manufacturing PMI – 8:13 GMT CHF – SVME PMI – 8:30 GMT EUR – Italian Manufacturing PMI – 8:43 GMT EUR – French Manufacturing PMI – 8:48 GMT EUR – German Manufacturing PMI – 8:53 GMT EUR – Manufacturing PMI – 8:58 GMT GBP – Manufacturing PMI – 9:28 GMT CAD – RMPI (MoM) 13:30 GMT USD – ISM Manufacturing PMI – 15:00 GMT KRW – South Korean CPI – 23:00 GMT The U.S. market ended a disappointing month on a lower note as the S&P 500 lost 0.7%, extending its January decline to 3.6%. The Nasdaq outperformed, falling 0.5%, while the Dow Jones Industrial Average slid 1.0%. Nasdaq Composite -1.7% YTD S&P 500 -3.6% YTD Dow Jones Industrial Average -5.3% YTD Asian markets fell on Monday as Australia’s manufacturing index and new building approvals eased in January. A 2% fall for Japan’s blue-chip Nikkei Stock Average on Monday put the index in a technical correction, defined as a drop of 10% or more from the previous peak. The dollar rose to 10-week highs against the euro on Friday as a slowdown in the annual rate of euro zone inflation in January fuelled fears over the threat of deflation in the euro area. EUR/USD hit 1.3478, the weakest since November 22 and was last down 0.49% to 1.3488. For the week, the pair lost 1.35%. The common currency fell to two-month lows against the yen, with EUR/JPY dropping 1.07% to 137.75, extending the months losses to 1.89%. The British pound ended the week lower against the broadly stronger dollar on Friday as indications that the U.S. recovery is gaining momentum and increased risk aversion underpinned dollar demand. GBP/USD fell to lows of 1.6429, the weakest since January 21 and was last down 0.29% to 1.6434. For the week, the pair lost 0.83% Gold and other precious-metal futures moved modestly higher in electronic trade Monday, rebounded from mild losses recorded on Friday. Gold for April delivery advanced by $5.40, or 0.4%, to $1,245.20 an ounce. New York-traded oil and natural-gas futures lost ground in electronic trade Monday, with a slightly firmer U.S. dollar among the factors weighing on the contracts. Benchmark U.S. crude oil for March delivery fell 21 cents, or 0.2%, to $97.28 a barrel, extending a 0.8% retreat Friday on the New York Mercantile Exchange.
Posted on: Mon, 03 Feb 2014 09:04:35 +0000
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