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| EU Analysis of Today - MT4 Chart |
U.S. Stocks End Flat, Hampered By Sector Technology. U.S. stocks erased most losses to end the session flat in choppy trade on Wednesday, but gains were limited by weakness in the technology sector as well as investors were reluctant to enter the position following the recent rally that pushed the index to its highest in 5 - years. "I think (the market) has rallied by itself and it was exhausting. Need for consolidation, "said Kenny Polcari, directors O'Neil Securities. With no major economic reports on the calendar and the recent rally that pushed the Dow approached the level of 14.000 and the S & P 500 above the level of 1.500, traders and investors are looking for the next catalyst that can further trigger the market.
"Corporate earnings reports in this case may be the main focus of investors in search of a catalyst," said Ishaq Siddiqi, an analyst at ETX Capital.
Euro sales drop ahead of ECB Policy Meeting
The U.S. dollar fell versus the euro as traders increasingly cautious ahead of the European Central Bank meeting Thursday. The ECB is expected to keep interest rates unchanged. However, the focus of market players remained fixed to the press conference ECB President Mario Draghi, who is expected to avoid commenting about the high euro exchange rate at the moment and prefer to elevate the conversation about improving prospects in the region are still many problems to overcome. "The market continues to speculate about the statement and press conference Draghi ECB," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto. "The president Draghi will likely voiced caution and as a result the euro will weaken."
Oil Ends Flat, U.S. Oil Charge Stock Market
Oil futures ended almost unchanged on Wednesday after the U.S. government reported that oil inventories rose slightly less than expected, and distillate stocks fell for a second week. Institutions EIA reported that crude inventories rose 2.6 million barrels for the week ended 1 February. Before analysts surveyed by Platts expect to ride about 3 million barrels. Crude gains seem likely will continue in the coming week, said Tariq Zahir, analyst at Tyche Capital Advisors, and "with the oil inventories are well above average in the past five years, we feel oil remained under pressure in the short and medium term.
Turned Oil Gains After EIA Reports
Crude oil managed to cut the decline to then turn around thinly traded higher on Wednesday after a U.S. government report showed that crude supplies rose less than forecast. Report of the Energy Information Administration (EIA) showed crude supplies increased 2.6 million barrels during last week, which is lower than the estimated increase of 3 million barrels.
"Previously, crude oil prices had dropped sharply following the market concerns about the fact that U.S. oil reserves continue to roost near 30-year highs," said Matthew Parry, senior oil market analyst at the International Energy Agency (IEA).
Overall, some analysts see if the oil price is still threatened by several bearish factors. Not only by the appreciation of the U.S. dollar, 'black gold' is also potentially depressed again by any news about the continuing negotiations between the west and the nuclear program of Iran, as well as announcements about delays Seaway pipeline in full operation until the 4th quarter of this year. Currently, crude oil for March delivery traded at $ 96.70 per barrel, or about 0.05% above its opening day Wednesday.
High End Gold Over depressed equity
Gold futures closed higher on Wednesday, getting a boost from a weaker U.S. equities as investors looked ahead to the European Central Bank's policy meeting this week. Gold moved higher "ahead of the ECB's monthly meeting on Thursday and a press conference (ECB President Mario Draghi), which may indicate further insights on the future ECB policy, says Jeffrey Wright, director at Global Hunter Securities.
Boehner slams Obama's plan "Delay Budget Cuts"
House Speaker John Boehner on Wednesday blasted President Barack Obama's plan to delay the budget cuts, he said that it should be replaced with a different budget cuts should not include a tax increase. "Tax issues have been resolved," said Boehner told reporters at a press conference in Capitol Hill. Obama on Tuesday urged Congress to delay the cuts amounted to $ 85 billion, which will begin on March 1, he said they should replace with other cuts and tax increases.
"Corporate earnings reports in this case may be the main focus of investors in search of a catalyst," said Ishaq Siddiqi, an analyst at ETX Capital.
Euro sales drop ahead of ECB Policy Meeting
The U.S. dollar fell versus the euro as traders increasingly cautious ahead of the European Central Bank meeting Thursday. The ECB is expected to keep interest rates unchanged. However, the focus of market players remained fixed to the press conference ECB President Mario Draghi, who is expected to avoid commenting about the high euro exchange rate at the moment and prefer to elevate the conversation about improving prospects in the region are still many problems to overcome. "The market continues to speculate about the statement and press conference Draghi ECB," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto. "The president Draghi will likely voiced caution and as a result the euro will weaken."
Oil Ends Flat, U.S. Oil Charge Stock Market
Oil futures ended almost unchanged on Wednesday after the U.S. government reported that oil inventories rose slightly less than expected, and distillate stocks fell for a second week. Institutions EIA reported that crude inventories rose 2.6 million barrels for the week ended 1 February. Before analysts surveyed by Platts expect to ride about 3 million barrels. Crude gains seem likely will continue in the coming week, said Tariq Zahir, analyst at Tyche Capital Advisors, and "with the oil inventories are well above average in the past five years, we feel oil remained under pressure in the short and medium term.
Turned Oil Gains After EIA Reports
Crude oil managed to cut the decline to then turn around thinly traded higher on Wednesday after a U.S. government report showed that crude supplies rose less than forecast. Report of the Energy Information Administration (EIA) showed crude supplies increased 2.6 million barrels during last week, which is lower than the estimated increase of 3 million barrels.
"Previously, crude oil prices had dropped sharply following the market concerns about the fact that U.S. oil reserves continue to roost near 30-year highs," said Matthew Parry, senior oil market analyst at the International Energy Agency (IEA).
Overall, some analysts see if the oil price is still threatened by several bearish factors. Not only by the appreciation of the U.S. dollar, 'black gold' is also potentially depressed again by any news about the continuing negotiations between the west and the nuclear program of Iran, as well as announcements about delays Seaway pipeline in full operation until the 4th quarter of this year. Currently, crude oil for March delivery traded at $ 96.70 per barrel, or about 0.05% above its opening day Wednesday.
High End Gold Over depressed equity
Gold futures closed higher on Wednesday, getting a boost from a weaker U.S. equities as investors looked ahead to the European Central Bank's policy meeting this week. Gold moved higher "ahead of the ECB's monthly meeting on Thursday and a press conference (ECB President Mario Draghi), which may indicate further insights on the future ECB policy, says Jeffrey Wright, director at Global Hunter Securities.
Boehner slams Obama's plan "Delay Budget Cuts"
House Speaker John Boehner on Wednesday blasted President Barack Obama's plan to delay the budget cuts, he said that it should be replaced with a different budget cuts should not include a tax increase. "Tax issues have been resolved," said Boehner told reporters at a press conference in Capitol Hill. Obama on Tuesday urged Congress to delay the cuts amounted to $ 85 billion, which will begin on March 1, he said they should replace with other cuts and tax increases.
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