March 7, 2014 - Daily Market Analysis
Today Hot Property: USD, CAD
Today nonfarm Payrolls figures will be released from the U.S. which measures the change in the number of newly employed people , excluding the farming industry . Important indicator of economic activity is employment and so this event is highly anticipated by investors. The latest figures from the U.S. market has more ambition and the last two have been reported NFP also well below expectations . Winter storms have been battling with the U.S. and the market is not sure if bad data is a result of economic slowdown or due to bad weather . Janet Yellen , the new head of the Federal Reserve, has assured the markets that the weakness in employment is weather- related and so today's NFP release will be watching closely . If the data is again lower than expected Fed may decide to pause in their meeting next tapering . Yesterday , the U.S. released surprisingly positive initial Jobless Claims figures to bring some hope to the market. This came after Beige Book showed that in most regions , the economy grew last month. For this reason U.S. stocks gained , S & P 500 closed 0.17% higher and the Dow Jones closed 0.38% higher. Asian stocks were mixed . Nikkei get 0.92 % as yen continues to fall against the dollar following positive Jobless Claims data and Hang Seng declined 0.19% . European stocks have started the session in negative numbers . ECB maintained interest rates at 0.25% yesterday as stronger inflation and economic output to reduce the demand for leaders to take action.
WTI crude is rising following better than expected U.S. data . It also gained after President Obama said that the pressure will rise on Russia to support sanctions under the Ukraine and more can be delivered . Gold climbed yesterday after European officials urged the international community to take a tougher stance against Russia - to increase tension in the region. Yellow metal also moved up in anticipation of today's nonfarm Payrolls data . Traders will be to use the results to try and determine how the Fed to continue with monetary policy .
Today Main Events :
13:30 GMT: CAD - Jobs Language -point change in the number of people employed . Employment is a key indicator of consumer spending
13:30 GMT: USD - nonfarm Payrolls - a step change in the number of employed people during the previous month , excluding the farming industry . Employment is the foremost indicator of consumer spending , which accounts for the majority of economic activity .
13:30 GMT: USD - unemployment rate - measures the percentage of the labor force that is unemployed and actively seeking employment during the previous month .
17:00 GMT: USD - FOMC Member Dudley Speaks - Due to talk about economics in Brooklyn College, in New York
