Breaking News

Global markets shaken after ECB's disappointment, eyes fixed on U.S. jobs report.

News Date: 4/12/2015 01:07:16
 

Global markets were sold heavily after the European Central Bank disappointed the markets with weaker-than-expected measures. ECB cut its deposit rate from -0.20% to -0.30%, and extended its bond-buying program by six months, but kept its monthly buys at 60 billion euro without expansion. The pan-European index FTSEurofirst recorded its biggest one-day drop since August, falling 3.31% to a more than two-week low. Wall Street registered heavy losses as well, with Dow Jones plunging 252 points, or 1.42% to 17,477. NASDAQ dropped 85 points, or 1.67% to 5,037. S&P 500 dove 29 points, or 1.44% to 2,049.

 

Asian shares took a hit in tandem, with Japan's Nikkei falling 2.29% to a three-week low, in line for a weekly loss of 2.15%. Australia's S&P\ASX slid 1.46%, heading for a weekly drop of 0.98%. China's CSI300 gave up 1.02%, but set for a robust weekly profit of 4.36%. Korea's KOSPI dipped 0.82%, in line for a hefty weekly loss of 2.51%. India's Nifty squandered 0.85%, with a weekly loss of 1.85%.

 

Euro registered its biggest one-day gain in 7 years, rising 3.1% against the dollar yesterday to 1.0940; it was last trading at 1.0937. Euro rose to a 5-week high against sterling at 0.7223; It kept going up, gaining another 0.10% to 0.7231. Euro hit a 6-week high against the yen at 134.12, before steadying to 134.00.

 

Dollar was in bad shape after heavy losses yesterday, with its index down to a month-low at 97.82; and last trading up 0.07% to 97.89. Dollar will be relieved if the Non-Farm Payrolls report, due today, confirms the prospects of the rate hike later this month; it's forecast to have risen about 200,000 in November.

 

Oil traders are waiting for a much-anticipated OPEC meeting today, with hopes pinned on a possible cut in production to support prices, even though it's not much likely. Brent futures rose 5 cents, or 0.11% to $44.05 a barrel. U.S. crude futures gained 24 cents, or 0.60% to $41.33 a barrel.

 

From Canada, unemployment rate is forecast to stay the same in November as October, at 7.0%, while the employment change is expected at a positive but negligible 700. Canadian dollar have been trading near 11-year lows in the past several months, and a lower unemployment rate could help it steer away from the lows.  

 

From Europe, German factory orders are forecast to have grown 1.2% m\m in October, compared with September's contraction of 1.7%. A high growth for the orders would bolster the euro even more.   

 

Latest news

Crude oil futures declined. According to the New York Stock Exchange, crude oil futures were traded in November at a price of 86.12 dollars a barrel, ie, it decreased by 0.46%. And in light of OPEC
10-2022 05 04:16:02

The US dollar fell to its lowest level in two weeks at the beginning of trading on Tuesday, due to the high risk sentiment, while the sterling pound maintained its recent gains after the British gove
10-2022 04 07:12:28

Japanese stocks opened today’s trading on a positive note, dragging its indices to the upside, especially chips and energy stocks. So, the Nikkei index rose by 1.07% to reach 26,215.79 points,
10-2022 03 03:36:24

Wall Street closed yesterday evening sharply lower, because of some economic concerns related to inflation, which could reflect negatively on the US economy, not also this, but also the investor's c
09-2022 30 03:07:57

The futures contracts for oil witnessed an increase, as it rose by 0.16%. According to the New York Mercantile Exchange, the futures contracts for crude oil were traded in November at 82.02 dollars p
09-2022 29 02:42:06

More News

Logs

Advertisements