November 18, 2013 - Daily Market News
Today's Hot Assets : USD
Janet Yellen , the next head of the Federal Reserve , testified on behalf of the FOMC last week . His comments were more dovish than expected and he confirmed that stimulus will be maintained until the next improvement was seen in the economy . U.S. data ( such as GDP , unemployment claim and Industrial Production ) came out below expectations and his comments supported sending U.S. stocks higher. The S & P 500 closed 0.42 % higher and the Dow Jones closed 0.54 % higher. Asian stocks gained after China affirmed to implement new economic reforms : the Hang Seng closed 2.73 % higher. The Nikkei showed little change after rallying 7.7 % last week and closed 0.01% lower. European stocks yet opened lower as investors were cautious because of the split with the Italian government over the weekend .
WTI fell further after Saudi Arabia increased export of strengthening the supply . Coarse stockpiles and inventories also gained in the U.S. and concerns over economic hope. Gold gained after Yellen testimony and the weaker data from the U.S. . It is now covering as traders are awaiting the results of the FOMC Meeting Minutes on Wednesday.
Main Event today :
10:00 GMT : EUR - Trade Balance - measures the difference in value between imported and exported goods and services over the reported period . A positive number indicates that more goods and services are exported than imported .
13:30 GMT : CAD - Buying Foreign Security - measures the total value of domestic stocks , bonds , and money - market assets purchased by foreign investors .
14:00 GMT : USD - TIC Net Long-Term Transactions - measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreign investors . Demand for domestic securities and currency demand are directly linked because foreigners must buy the domestic currency to buy securities in the country .
17:15 GMT : USD - FOMC Member Dudley Speaks - Federal Reserve Bank of New York he serves as the vice chairman and a permanent member of the Federal Open Market Committee ( FOMC ) voting members ( 2009-2013 ) William C. Dudley is to communicate . FOMC members are responsible for setting the benchmark interest rate and their speeches closely watched for indications future possible direction of monetary policy.