SamTrader1
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Equities
Asian markets gained on Thursday, with the Nikkei gaining .9% and the Kospi surging 2.2%. The Hang Seng closed up .3%, while the Shanghai Composite eased .4%.
The FTSE jumped 1.5% as European markets rallied. The Dax rose .6%, but had been up more than 1.5% before a late day selloff hit Euro-based countries. ECB chairman, Trichet, took a strong stance on rising inflation and made clear that interest rate raises were looming, pressuring equities.
US markets leaped upwards, with the Dow closing up 191 points to 12258. The Nasdaq gained 1.8% and the S&P rose 1.7%, as oil prices slipped, and weekly jobless claims were quite positive. The VIX fell more than 10%, as a proposal for a peace in Libya was considered, calming the markets.
Treasuries and Commodities
Bonds sold off, as money shifted to riskier inveestments. 10-year notes fell 24/32 to yield 3.55%, and 30-year notes lost 30/32, yielding 4.62%. German bonds were hit hard by the ECB statement, as 20-year notes fell 2.19 and 30 year treasuries fell 2.73.
Crude oil closed down .34 to 101.88, recovering from early losses which had pushed prices down to 100.15. Natural gas closed down .8% and Brent Crude sank 1.4% to 114.69.
Gold tumbled 21.30 ti 1416.40, and silver dropped 1.8%, as efforts to combat inflation make precious metals less attractive.
Gold Drops 1.8%
Currencies
The Euro shot up through 1.39 and closed at 1.3964, up .7%, as the ECB’s statement revealed plans to raise interest rates in the coming months. The Swiss Franc skidded .9%, closing at .9320, just a day after hitting a record high against the dollar. The Pound slipped .3%, and the yen dropped .7%, while the Australian Dollar and Canadian Dollar both ended within .1% of the previous day’s close.
Economic Outlook
Weekly unemployment figures suggest that job growth is beginning to materialize, dropping to 368K, and far better than the 398K estimated by analysts. Wednesday’s ADP employment report was also upbeat, setting the stage for Friday’s authoritative non-farm payrolls report and unemployment rate.
News from Libya continues to move the markets, and even the suggestion of an unlikely peace deal sent gold and oil tumbling. With the Euro headed for interest rate hikes, we must wait and see how the other G7 countries will approach the delicate balance of fostering growth while battling inflation.
By, BinaryOptionStrategy.com
Asian markets gained on Thursday, with the Nikkei gaining .9% and the Kospi surging 2.2%. The Hang Seng closed up .3%, while the Shanghai Composite eased .4%.
The FTSE jumped 1.5% as European markets rallied. The Dax rose .6%, but had been up more than 1.5% before a late day selloff hit Euro-based countries. ECB chairman, Trichet, took a strong stance on rising inflation and made clear that interest rate raises were looming, pressuring equities.
US markets leaped upwards, with the Dow closing up 191 points to 12258. The Nasdaq gained 1.8% and the S&P rose 1.7%, as oil prices slipped, and weekly jobless claims were quite positive. The VIX fell more than 10%, as a proposal for a peace in Libya was considered, calming the markets.
Treasuries and Commodities
Bonds sold off, as money shifted to riskier inveestments. 10-year notes fell 24/32 to yield 3.55%, and 30-year notes lost 30/32, yielding 4.62%. German bonds were hit hard by the ECB statement, as 20-year notes fell 2.19 and 30 year treasuries fell 2.73.
Crude oil closed down .34 to 101.88, recovering from early losses which had pushed prices down to 100.15. Natural gas closed down .8% and Brent Crude sank 1.4% to 114.69.
Gold tumbled 21.30 ti 1416.40, and silver dropped 1.8%, as efforts to combat inflation make precious metals less attractive.
Gold Drops 1.8%
Currencies
The Euro shot up through 1.39 and closed at 1.3964, up .7%, as the ECB’s statement revealed plans to raise interest rates in the coming months. The Swiss Franc skidded .9%, closing at .9320, just a day after hitting a record high against the dollar. The Pound slipped .3%, and the yen dropped .7%, while the Australian Dollar and Canadian Dollar both ended within .1% of the previous day’s close.
Economic Outlook
Weekly unemployment figures suggest that job growth is beginning to materialize, dropping to 368K, and far better than the 398K estimated by analysts. Wednesday’s ADP employment report was also upbeat, setting the stage for Friday’s authoritative non-farm payrolls report and unemployment rate.
News from Libya continues to move the markets, and even the suggestion of an unlikely peace deal sent gold and oil tumbling. With the Euro headed for interest rate hikes, we must wait and see how the other G7 countries will approach the delicate balance of fostering growth while battling inflation.
By, BinaryOptionStrategy.com
