There are still worries about Italy’s political situation
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 |
|
Feb. 07 |
00:30 |
AUD |
Employment Change |
|
|
00:30 |
AUD |
NAB Quarterly Business Confidence |
|
|
06:45 |
CHF |
SECO Consumer Climate |
|
|
09:30 |
GBP |
Industrial Production (MoM) |
|
|
09:30 |
GBP |
Manufacturing Production (MoM) |
|
|
09:30 |
GBP |
Trade Balance |
|
|
09:30 |
GBP |
Industrial Production (YoY) |
|
|
11:00 |
EUR |
German Industrial Production (MoM) |
|
|
12:00 |
GBP |
Interest Rate Decision |
|
|
12:00 |
GBP |
BOE QE Total |
|
|
12:45 |
EUR |
Interest Rate Decision |
|
|
13:30 |
CAD |
Building Permits (MoM) |
|
|
13:30 |
USD |
Nonfarm Productivity (QoQ) |
|
|
13:30 |
USD |
Initial Jobless Claims |
|
|
13:30 |
USD |
Unit Labor Costs (QoQ) |
|
|
13:30 |
USD |
Continuing Jobless Claims |
|
|
15:00 |
GBP |
NIESR GDP Estimate |
|
|
23:50 |
JPY |
Adjusted Current Account |
Global Markets
GLOBAL MARKETS
On Wednesday when Wall Street ended little had changed while investors weighed their concerns over the latest corporate results coming out of Europe. The Dow Jones and S&P 500 were each gained less than 0.1% while the NASDAQ lost 0.1%, just after it had crossed the 14,000 mark for the first time in more than five years. The Dow will continue to engage at that mark and is around 200 points shy of its all-time high of 14,198. The S&P 500 is also at its highest peak in more than 5 years, dating back to 2007.
There are still worries about Italy’s political situation which has hurt the market sentiment across the entire European markets yesterday. Prime Minister Silvio Berlusconi has had a bit of renewed popularity which has stoked some fears of financial chaos in Italy. The CAC 40 index dropped 1.4% to 3,642.9. U.K.’s FTSE 100 index closed 0.2% higher at 6,295.34 while Germany’s DAX 30 index fell 1.1% to 7,581.18.
Global Currency
EURO DOLLAR
The euro dropped versus the dollar yesterday, while investors have become increasingly cautious ahead of the European Central Bank meeting which is to be held today. Mario Draghi the President ECB raised concerns about the high level that the euro has reached. Currently the euro is being traded at the 1.35 price level.
THE STERLING
Investors are starting to take their positions before the release of a slew of economic data will be released to and the Bank of England’s meeting is today. Experts don’t believe that there will be any changes made by the BoE today. Currently the GBP is being traded at 1.5664 fairly flat this morning.
ASIAN CURRENCIES
The yen has eased a bit, while investors have taken advantage of record highs and booked profits. When the USD/JPY broke the 93.50 price level there was a lot of technical action that was happening.
Metals and Energy
GOLD
While the world markets wait on the outcome of an important ECB meeting today; gold will probably be influenced by currency movements. ECB President Mario Draghi, has said that he thinks that the euro has grown too sharp, too fast, and the bank’s meeting will be a decisive point in tempering the currency. The euro is vital to gold’s progress; if the euro is to fall it could pull the precious metal along with it. Gold has been trading flat at 1679.35.
CRUDE OIL
The US government has released reports that show that oil supplies have dropped in Cushing, Oklahoma which happens to be the biggest storage hub and delivery point for New York traded-crude. Crude is trading at 96.78 which have added a few cents for today. Investors in crude oil will be monitoring a slew of economic data which are due to be released today, including minutes from the ECB meeting and a following statement.
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