Daily Market Review for October 30th 2013 Major Economic Data to keep an eye on: Make sure to keep track of economic news related to your open positions. We have a busy economic news today. EUR – Spanish GDP (QoQ +YoY) – 8:00 GMT EUR – German Unemployment Rate – 8:55 GMT NOK – Norwegian Core Retail Sales – 9:00 GMT NOK – Norwegian Unemployment Rate – 9:00 GMT EUR – German 10 Year Bund Auction – 10:30 GMT USD – ADP Nonfarm Employment Change – 12:15 GMT USD – Core CPI (MoM + YoY) – 12:30 GMT USD – FOMC Statement – 18:00 GMT USD – Interest Rate Decision – 18:00 GMT NZD – Interest Rate Decision + Rate Statement – 20:00 GMT NZD – Building Consents (MoM) – 21:45 GMT The S&P 500 registered its fourth consecutive advance, climbing 0.6% to extend its October gain to 5.4%. The Dow Jones Industrial Average (+0.7%) outperformed the benchmark index while the Nasdaq (+0.3%) lagged after starting the session in-line with the S&P. Given the recent government shutdown, economists think there is a very little chance the Federal Reserve will reduce the pace of its asset-purchase program — that is, “taper” — at the end of their two-day meeting Wednesday. So what are they looking for? The key question on everyone’s mind is whether the central bank will say anything to cement expectations that the first tapering will come in 2014. It’s all about analyzing the word ‘Tapering’ in their statements later on today. Read More...
Posted on: Wed, 30 Oct 2013 08:16:42 +0000
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