Asian markets are trading mixed.
Today’s Reports and Announcements of Significance to the Market
Today’s Major Economic Events: Below you will find the top tier economic events for today. These events have the ability to move the markets. If you want to learn more about understanding these reports and the economics calendar, contact iOption live chat and asked to be enrolled for our webinar about trading the economics calendar.
|
Date |
Time |
Currency |
Event |
|
Mar. 15 |
08:15 |
CHF |
PPI (MoM) |
|
|
10:00 |
EUR |
CPI (YoY) |
|
|
10:00 |
EUR |
Core CPI (YoY) |
|
|
12:30 |
USD |
Core CPI (MoM) |
|
|
12:30 |
USD |
CPI (MoM) |
|
|
12:30 |
USD |
NY Empire State Manufacturing Index |
|
|
12:30 |
USD |
CPI (YoY) |
|
|
12:30 |
USD |
Core CPI (YoY) |
|
|
13:00 |
USD |
TIC Net Long-Term Transactions |
|
|
13:15 |
USD |
Industrial Production (MoM) |
|
|
13:55 |
USD |
Michigan Consumer Sentiment |
Global Markets
GLOBAL MARKETS
European stocks closed up and that handed off into a modest rally in North American equities with each of the Dow, S&P 500,and the Nasdaq. Asian markets are trading mixed. Yesterday saw a continuation of strong data in the US, with unemployment and current account beating estimates and PPI coming in on target. Today will be an important day for US with Industrial production which is expected to bounce higher. The Empire manufacturing gauge for conditions in the NY State area is expected to remain flat but supportive of growth. CPI is expected to post some upside pressure in the February print partly because of higher gasoline prices, but core prices ex-food and energy are expected to remain around 2% y/y. Lastly, consensus expects a largely flat University of Michigan consumer sentiment survey. The EU summit will also be underway so news flow from the zone could have some market effects, although yesterday markets were disappointing with EU leaders for lack of progress.
Global Currency
EURO DOLLAR
The US dollar is trading lower this morning, it seems that speculators are taking advantage of the situation before the FOMC meet on Wednesday and before a slew of US data due today to book profits. The euro remains weak as it looks like the zone will continue in a recession and data is not showing any signs of a recovery. CPI data is due today and could once again open the possibility of ECB intervention. The euro is exchanging at 1.3022 this morning
THE STERLING
Sterling is trading at 1.5092 gathering a bit of momentum while it still remains the worse performing currency of 2013 the selloff of the US dollar is the only weakness. The pound has no direction and will mostly fall back to a bottom.
ASIAN CURRENCIES
The US dollar gained against the JPY pushing well above the 96.00 price range after the appointments of the new central bank direction and the assurance of ongoing monetary stimulus. The JPY is trading at 96.18. Industrial output in Japan rose to an adjusted 0.3 percent instead of 1.0 in January, the Ministry of Economy, Trade and Industry said in a revision Thursday.
Metals and Energy
GOLD
Gold added a bit of momentum at the close yesterday recovering earlier losses to trade flat this morning at 1590.40. The climb in gold had little to do the market news or sentiment, as the US dollar weakened on profit booking gold traders took advantage of a dip in prices and the lower greenback to buy the commodity.
CRUDE OIL
Crude oil jumped late on Thursday and continues to trade on a positive note after US data turned in strong numbers once again. The Current Account and Unemployment beat estimates easily, and PPI met expectations. Coming off of Wednesday’s inventory release which was fairly close to estimates crude was able to gain, also the weak dollar make the commodity inviting to investors. Gold is trading at 93.32 in the Asian session on Friday.
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