Euro Pressured Ahead of ECB Meeting. The weakening euro continues to the second straight session against the U.S. currency that the dollar ahead of the ECB policy meeting on Thursday. Although analysts predict the ECB will keep interest rates unchanged, some investors and economists are still unsure if the rate cut is still possible this year. Market participants are also wary of the press conference after the ECB President Mario Draghi policy announcement, which could potentially affect sentiment Euro.
Wall Street Jumps, Market Optimistic On Earnings Results
U.S. stocks rose moderately in all indices on Wednesday, lifted by shares of the industrial sector, after Alcoa, which is one component of the Dow start the fourth quarter earnings season on a positive note. "After a pretty good start to 2013, we should see how the results The fourth quarter earnings season, the market is currently in a state of wait and see, at least until next week, "said Art Hogan." And the instructions of the company will probably still conservative in fiscal cliff face. "
BoJ easing expectations (Back) Haunting Yen
U.S. dollar to snap a two-day losing streak and turned to its highest level versus the 2 ½-year return as the Yen rising expectations of monetary policy easing Japan. Thus forcing some investors to sell the Japanese currency. Prime Minister Shinzo Abe on Wednesday reiterated its call to the Bank of Japan to raise the inflation target to 2%, while Finance Minister Taro Aso urged the central bank to act more aggressively to fight deflation.
Prevent Data Rate Aussie Retail Sales
Reduce the rate of appreciation of the Australian dollar after a government data showed a surprise decline. Report of the Bureau of Statistics show Australia retail sales declined 0.1% in November, which confront the expectations of a rise of 0.3% from economists. The rate Aussie also continue overshadowed speculation that the Reserve Bank of Australia will cut interest rates next March to boost the economy.
Oil Weakens After U.S. Oil Stocks Soaring
Oil slipped after a government report showed that stockpiles of crude and fuel oil the United States jumped last week as production rose nearly to its highest level in nearly 20 years. Oil fell after the Energy Department said crude stockpiles rose 1.31 million barrels to 361.3 million barrels, oil production reached its highest level since 1996. Yesterday the U.S. Department indicate that will pump as much as 7.92 million barrels per day in year of 2014. "There is showing significant growing in supply in the market," said Adan Wise, an analyst at MAM in Boston. "Domestic production have some indicated to continues to grow. DOE said yesterday that they expect production to rise 23% in two years, which would bring the production level as in 1980. "
Gold Ends Low On Stronger Dollar
Gold futures ended lower on Wednesday, weakened again after a substantial gain in the previous session, as the stronger dollar and rising U.S. equities that have lured investors to stay away from the precious metal. Overall, "with respect to gold so far, the buying of investors because they believe the rhetoric in the media about the prospect of (quantitative easing from the Federal Reserve) that will end faster is not credible," said James West, Midas Letter Opportunity economist Fund. So investors continue buying "as a protected asset of the U.S. dollar due to the impairment of quantitative release."
Wall Street Jumps, Market Optimistic On Earnings Results
U.S. stocks rose moderately in all indices on Wednesday, lifted by shares of the industrial sector, after Alcoa, which is one component of the Dow start the fourth quarter earnings season on a positive note. "After a pretty good start to 2013, we should see how the results The fourth quarter earnings season, the market is currently in a state of wait and see, at least until next week, "said Art Hogan." And the instructions of the company will probably still conservative in fiscal cliff face. "
BoJ easing expectations (Back) Haunting Yen
U.S. dollar to snap a two-day losing streak and turned to its highest level versus the 2 ½-year return as the Yen rising expectations of monetary policy easing Japan. Thus forcing some investors to sell the Japanese currency. Prime Minister Shinzo Abe on Wednesday reiterated its call to the Bank of Japan to raise the inflation target to 2%, while Finance Minister Taro Aso urged the central bank to act more aggressively to fight deflation.
Prevent Data Rate Aussie Retail Sales
Reduce the rate of appreciation of the Australian dollar after a government data showed a surprise decline. Report of the Bureau of Statistics show Australia retail sales declined 0.1% in November, which confront the expectations of a rise of 0.3% from economists. The rate Aussie also continue overshadowed speculation that the Reserve Bank of Australia will cut interest rates next March to boost the economy.
Oil Weakens After U.S. Oil Stocks Soaring
Oil slipped after a government report showed that stockpiles of crude and fuel oil the United States jumped last week as production rose nearly to its highest level in nearly 20 years. Oil fell after the Energy Department said crude stockpiles rose 1.31 million barrels to 361.3 million barrels, oil production reached its highest level since 1996. Yesterday the U.S. Department indicate that will pump as much as 7.92 million barrels per day in year of 2014. "There is showing significant growing in supply in the market," said Adan Wise, an analyst at MAM in Boston. "Domestic production have some indicated to continues to grow. DOE said yesterday that they expect production to rise 23% in two years, which would bring the production level as in 1980. "
Gold Ends Low On Stronger Dollar
Gold futures ended lower on Wednesday, weakened again after a substantial gain in the previous session, as the stronger dollar and rising U.S. equities that have lured investors to stay away from the precious metal. Overall, "with respect to gold so far, the buying of investors because they believe the rhetoric in the media about the prospect of (quantitative easing from the Federal Reserve) that will end faster is not credible," said James West, Midas Letter Opportunity economist Fund. So investors continue buying "as a protected asset of the U.S. dollar due to the impairment of quantitative release."
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