MORNING MARKET BRIEFING 15/8/2014 SNAPSHOT: With limited economic data of US, still rally of positive closing continues in US equity markets. A mix trend was seen in forex but not major moves in its price fluctuation. Gold settled positive, comparing with its fluctuation in Asian and European market. Copper and Crude oil settled negative closing and had major price fluctuation. Small fluctuation is been there in the forex, commodity and equity market as investors have very big concern on the issue of GEOPOLITICAL risk moving in Middle east and Ukraine that can impact in markets an unexpected one-sided price movement wave . OPENING CALL: Yesterday with AUD negative consumer inflation expectation (Previous 3.8%, Actual 3.1%), Asian and Australian markets start with negative market price movement. And sustain same with negative GDP data of France (Previous 0.8%, Actual 0.1%) and Germany (Previous 2.5%, Actual 1.2%). Europe consumer price index (Previous 0.5%, Actual 0.4%) and GDP (Previous 0.9%, Actual 0.7%) hold range price movement in Forex and commodities and negative move in Equity market till data was released, but at the closing time equity market closed positive due to better health care pacing advanced. US initial Jobless claims (Previous 290k, Actual 311k) brought positive price movement in the equity market as well as in forex and commodity market. Today Investors can relax with European markets are closed. But as its Friday night, opening of weekend which needs some fun with pocket full of money, so investors will be looking forward for good GDP (Previous 3.1%, Expected 3.1%)from UK and better industrial production data (Previous 0.2%, Expected 0.3%) and Reuters/Michigan Consumer sentiment (Previous 81.8, Expected 82.5) from US market for decision making in there trading strategy. EQUITIES: U.S. equities continued to settle top after Initial jobless claim data came better than before. Dow climbed 61.78 points or 0.37 % change, to its market value of 16,713, NASDAQ jumped 18.88 points or 0.43% changes to 4453 and S&P 500 advanced 8.46 points or change of 0.43 % to it value of 1,955.18. FOREX: Not much fluctuation was seen in the top major currency yesterday. USD index settled with very small movement, closing @ 81.58 but hold its bullish trend. Analysts are hoping that there might be some u-turn if it sustain below 81.75. EURUSD also continued to its small bearish price movement yesterday it settles @ 1.3363, hoping that its support of 1.3320 shouldn’t be break. Due to European markets are closed today so it been expected to have small moves in the pair. GBPUSD, pair with continuous bearish trend makes it a low interest for traders to trade, so had very low price fluctuation in pair and it settled @ 1.6685. USDJPY this pair looks to have range or side wave price movement, ranging 101.80 to 102.80. Due to Geopolitical risk this pair also had small range move in the price and it settle @ 102.42. AUDUSD, pair with bullish moves keep a low volume but gives a good chance to investors better than other pair it has highest price movement as comparing with other major pairs. With its bullish trend this pair settled @ 0.9318. COMMODITIES: Gold futures ended higher for a third straight session on Thursday, erasing early losses after a weak update on the U.S. labour market and soft economic reports in Europe, which induced speculations over the future of monetary policy in the U.S. and Europe. The rise was seen in U.S. session, it settled @ 1314.30. Silver still hold a side wave and small price fluctuation. It is being expected that silver can have a bearish move sooner. According to analyst silver demand is been to low as per supply because of bad industrial inputs in economy. Silver settle at 19.88. U.S. crude oil plunged to end sharply lower Thursday, on demand growth concerns after some weak economic data from the U.S. as well as the unexpected increase in oil stockpiles last week. Oil prices took a further hit on the back of some lacklustre U.S. retail sales figures, coupled with disappointing economic data from Europe and China, renewing concerns of a drop in demand. Oil last night settled @ 95.36.
Posted on: Fri, 15 Aug 2014 05:23:45 +0000
Trending Topics
Recently Viewed Topics
© 2015