29 April, 2016
Wall Street futures dropped on Friday after the Dow issued its first decline of more than 1% in two months, while investors are closely watching on data.
The blue-chip Dow futures lost 12 points, or 0.06%. The S&P 500 futures were down by 3 points, or 0.14%, while the tech-heavy Nasdaq 100 futures decreased by 13 points, or 0.29%. ВВВВВ
Market participants were assessing the weakening dollar. The U.S. Dollar Index that measures the dollar’s value against other major rivals slid 0.42% in 93.34, marking 8-month low, which implies to a sluggish growth fueled by speculations that the Fed would not tighten the monetary policy.
The yen was pushed to an 18-month high against the dollar, led by the struggling dollar, also because Bank of Japan did not surprisingly expand its stimulus this week. Apparently, USD/JPY marked an intraday low at 106.91, hitting its weakest level since October the prior year.
Gold finds support from the feeble dollar as it hit a 14-month high as well as U.S. crude making its way to a new highs for 2016.
Ahead of the first remarks from a Fed regulator amid decisions on the monetary policy, Robert Kaplan, Dallas Fed president wished to boost gradual improvement in interest rates as long as inflation remained high and the labor market marked close to full employment. ВВВВВ
“As we continue to make progress in achieving our dual mandate, I will advocate that we take actions to remove some amount of accommodation," Kaplan said.
"I will also advocate that we take these steps in a gradual and patient manner," he added.
Meanwhile, investors are eyeing for the upcoming publication of a slew data.
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Market players kept their guards up as they await the US labor data report, a strong reading of which could urge the Federal Reserve to increase interest rates this month – a decision that would be bearish for non-interest bearing gold...
The US economic growth has been sluggish in the first quarter, although not as strongly as initially expected, amid an increase in spending on home architecture and a constant increase in inventory investment by business...
Oil prices increased more than 1 percent on Monday after Goldman Sachs stated that the market has ended for nearly two years of oversupply subsequent to a global oil disruptions and a market deficit...
The Australian and New Zealand dollars rallied against the greenback on Wednesday, but gains were anticipated to stay capped by lower prices of crude oil...
World stock markets rallied on Tuesday, fueled by a strong corporate earnings in Europe, including improvements on Greek debt talks and Japan’s new pledge in preparation to a weaker currency...
Gold prices ticked higher as the greenback slid to 16-month lows during the session earlier. On the Comex division of the New York Mercantile Exchange, gold delivery for June rallied at $1,303.85 per troy ounce, advancing $6.55 or 0.51 percent...
Analysts forecast that Germany DAX would hit 0.06 percent higher when the market opens, while France’s CAC 40 was anticipated to remain steady. Meanwhile, UK markets are closed due to a public holiday.
Shares in the U.S. plummeted following the decline of the stocks in the Asian market as the Bank of Japan left the interest rate unchanged...
International Energy Agency claimed that the oil prices would be stable again in 2017 as the non-OPEC oil producers were expected to limit their production this year...