Subscribe to RSS

Market Overview:  Central banks drive market dynamics

US stocks ended lower on Wednesday as oil shares declined and investors grew cautious on Fed Chair Janet Yellen comments about possible interest rate hike in December. The dollar strengthened against most major currencies with the ICE dollar index, a measure of the dollar’s strength against a basket of six currencies, rising 0.68% to 97.85. The S&P 500 live data indicate S&P 500 declined 0.35% led by energy sector which lost 1%. Fed Chair Janet Yellen on Wednesday made the case for interest rate hike pointing to low unemployment, continued growth and anticipation of a coming return of inflation as signs that the economy is ready for interest rate hike. She said the central bank will make the decision based on incoming information and will take a gradual approach to further hikes so that housing and other key markets are not disrupted by rising rates. Treasury yields rose after Fed Chair’s hawkish comments, driving up also the implied probability of rate hike in December to about 56% from 52% the previous day as measured by CME Group Fed Watch tool. In economic news Automatic Data Processing Inc report showed 182,000 jobs were created in private sector. Tomorrow monthly jobs report will be released and an increase in private employment in line with market expectations will support the case for interest rate hike in December. Today at 14:30 CET Initial Jobless Claims and Continuing Claims will be released in US, together with the preliminary third quarter Nonfarm Productivity and Unit Labor Costs. The tentative outlook is positive.

European stocks ended higher on Wednesday supported by dovish comments of European Central Bank President Mario Draghi that policymakers were ready to expand the monetary stimulus program in December if needed. The euro weakened against the dollar hitting 3-month low. The Stoxx Europe 600 index rose 0.5%. Germany’s DAX 30 index underperformed again and fell 1% as Volkswagen shares tumbled 9.5% after the car maker announced it found faulty emissions readings in gasoline-powered vehicles also. Analysts note that corporate earnings reports are mixed with 55% of STOXX Europe 600 companies having reported earnings so far this quarter, of which 49% have beaten or met expectations, with 51% missing forecasts. Today German factory orders for September came in lower than expected, showing 1% contraction year-on-year not-seasonally-adjusted following a 1.7% rise in August. Today at 10:00 CET the European Central Bank publishes the monthly Economic Bulletin. At 10:10 CET October Retail PMIs will be released for Germany, France and euro-zone. At 11:00 CET September Retail Sales will be published in euro-zone. The tentative outlook is positive. At the same time the European Commission releases Economic Forecasts for member states over the next 2 years. And at 11:45 CET ECB President Draghi speaks in Milan.

Nikkei gained 1% toady and closed near 10-week high as investors bought exporter shares on anticipation of earnings boost from weaker yen and market sentiment was bolstered by positive corporate reports.

Oil futures prices are edging up after falling 4% on Wednesday on rising US crude inventories.

Gold for December delivery is gaining today after falling 0.7% on Wednesday as bullish comments by Fed Chair Yellen pointed to increased likelihood of interest rate hike in December and blunted the demand for the safe haven metal.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

444% Profit Receive for a Single Trade – Grand Capital

444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Profit receive with our new Express Options for Grand Capital Binary Option Broker Ltd. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

Receive $30 Credit Bonus for Trusted  Broker- FXTM

Receive $30 Credit Bonus for Trusted Broker- FXTM(0)

Switch to ForexTime and receive $30 Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and receive $30 Trading Credit Bonus as a thank you for switching. Link:  Up to $200 Cash Bonus this December Link:  Receive $30 Tradeable Credit Bonus Link:  FX

15% Support Margin Bonus and $50 Free Bonus – FortFS

15% Support Margin Bonus and $50 Free Bonus – FortFS(0)

15% Support Margin Bonus Plus $50 No Deposit Bonus to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free Bonus Link:  $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus As from

Get $34 Forex No Deposit Bonus Contest – Xtream Forex

Get $34 Forex No Deposit Bonus Contest – Xtream Forex(0)

Sign-Up and Get $34 Forex No Deposit Bonus Contest Enjoy Forex Trading Without Deposit. Grab your $34 Forex No Deposit Bonus and start your live Forex trading to win big cash prize. Link: $34 Forex No Deposit Bonus Contest Available to: All new clients Forex $50 No Deposit Bonus Contest Duration? Registration is open till

115% Classic Bonus and $30 Welcome Bonus – RoboForex

115% Classic Bonus and $30 Welcome Bonus – RoboForex(0)

Up to 115% Classic Bonus Promotion and 50% Tradable Deposit Bonus to All RoboForex New and existing clients. 50% Tradable bonus from RoboForex is the type of bonus, which is not cancelled when the equity on your account is below the amount of the bonus funds Link:  $30 Welcome Bonus Promotion Link:  50% Tradable Bonus

Receive 25% Free Credit Bonus on your First Deposit – HYCM

Receive 25% Free Credit Bonus on your First Deposit – HYCM(0)

Get your forex trading off to a flying start. Sign up today and receive 25% Free Credit Bonus on your first deposit. The maximum trading credit bonus awarded under this promotion is US$5,000 Link: 25% Free Credit Bonus on your First Deposit Available to: All new clients Bonus Offer: Sign up today and receive 25%

60% Withdrawal Holiday Deposit Bonus – FXCL Markets

60% Withdrawal Holiday Deposit Bonus – FXCL Markets(0)

60% Withdrawal Holiday Deposit Bonus to All new and existing clients. The 60% Withdrawal Holiday  Deposit Bonus limit is $2,000 per trader. Link: 60% Holiday Withdrawal Bonus Available to: All new and existing clients Bonus Offer: 60% Withdrawal Holiday Deposit Bonus to All new and existing clients The bonus limit is $2,000 per trader. The

Up to 250% Exclusive Trading Credit Bonus – InstaForex

Up to 250% Exclusive Trading Credit Bonus – InstaForex(0)

InstaForex Exclusive Bonus Promotions is unparalleled on the market and gives a matchless opportunity to receive a Exclusive Bonus Promotions in the range of 30% to 250%. Making use of any kind of bonus, you can bump up your live trading account balance after depositing. Link:  Get 250% Bonus for First Deposit Link:  $500 Forex

New Promo-Action Free No Deposit Bonus $50 – FortFS

New Promo-Action Free No Deposit Bonus $50 – FortFS(0)

New Promo-Action Free No Deposit Bonus 50 USD to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free No Deposit Bonus Promotion Link:  $50 Forex No Deposit Welcome Bonus Link:  500 USD cents Forex No Deposit Bonus Link:  Up to 50% Bonus

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2018-2019 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories