Weekly Market Review – 29 November 2014

Major Economic Events

Below you will find the top tier economic events for the 1st of December to the 5th of December 2014. These major events are available on the Economic Calendar and they have the ability to impact the market.

IF YOU WISH TO LEARN MORE ABOUT UNDERSTANDING THESE MAJOR MARKET EVENTS AND HOW THEY IMPACT ASSET PRICES, PLEASE CONTACT YOUR ACCOUNT MANAGER TO LEARN MORE ABOUT OUR PERSONAL BROKER SERVICE.

01 December 2014

EUR                                      Spanish Manufacturing PMI (Nov)
EUR                                      German Manufacturing PMI (Nov)
GBP                                       Manufacturing PMI (Nov)
USD                                      ISM Manufacturing PMI (Nov)
AUD                                      Building Approvals (MoM) (Oct)
AUD                                      Current Account (Q3)
AUD                                      Interest Rate Decision (Dec)

02 December 2014

INR                                       Interest Rate Decision
GBP                                      Construction PMI (Nov)
AUD                                     GDP (YoY) (Q3)

03 December 2014     

GBP                                      Services PMI (Nov)
USD                                      ADP Nonfarm Employment Change (Nov)
USD                                      Nonfarm Productivity (QoQ) (Q3)
USD                                      ISM Non-Manufacturing PMI (Nov)
CAD                                      Interest Rate Decision
AUD                                     Retail Sales (MoM) (Oct)

04 December 2014

GBP                                       Interest Rate Decision (Dec)
EUR                                      Interest Rate Decision (Dec)
USD                                      Initial Jobless Claims
CAD                                      Ivey PMI (Nov)

05 December 2014

EUR                                      German Factory Orders (MoM) (Oct)
USD                                      Nonfarm Payrolls (Nov)
USD                                      Trade Balance (Oct)
USD                                      Unemployment Rate (Nov)
USD                                      Factory Orders (MoM) (Oct)
CAD                                      Employment Change (Nov)
CAD                                      Trade Balance (Oct)
CAD                                      Unemployment Rate (Nov)

Global Markets

World Market Data - 29 Nov 2014

On Friday, U.S. stocks posted a mixed finish in a holiday-shortened session. This came as energy shares got slammed a day after the Organization of the Petroleum Exporting Countries (OPEC) did nothing to alleviate a global supply glut. At the close of U.S. trading, the S&P 500 index (SPX) ended the day down 5.27 points, or 0.3%, at 2,067.56. This came after the index touched an intraday record in early action. Also, on the upside was the Dow Jones Industrial Average (DJIA) which eked out a gain of 0.49 points to end at 17,828.24, marking another record close. Following the upward trend was the Nasdaq Composite index (COMP) which held on to a 4.31 point increase to end at 4,791.63. U.S. markets were closed on Thursday for the Thanksgiving holiday and trading on Friday wrapped at 1 p.m. Eastern. On a monthly basis, the Dow and S&P 500 each added 2.5% in November, while the Nasdaq added 3.5%.

S&P 500 Index - 29 Nov 2014

In other indices news, European indices ended the day lower on Friday. This came after the release of mixed data from Germany and France, as investors were eyeing a highly anticipated report on euro zone consumer prices. After the close of European trade, the DJ Euro Stoxx 50 fell 0.41%, while France’s CAC 40 slid 0.46%. Meanwhile in Germany, the DAX fell 0.31% while in the United Kingdom, the FTSE 100 declined 0.66%. Elsewhere, Hong Kong stocks fell for a second day on Friday, as the Hang Seng Index dropped 0.3%. This came as energy shares sold off after international crude oil prices sank to a four-and-a-half year low on news that OPEC has kept its production levels unchanged. Meanwhile in Japan, the Nikkei 225 ended down 0.6% while in Shanghai, the Shanghai Composite index closed up 0.6%. In Australia, the S&P/ASX 200 was up 0.1% while in Seoul, the Kospi was also up 0.2%. Also, in Taipei, the Taiex traded up 0.7%.

Global Currency

Global Currencies - 29 Nov 2014

On Friday, the U.S. dollar (USD) held gains against a basket of other major currencies. This came as trading volumes remained thin ahead of the Thanksgiving Day weekend. At the end of U.S. trading, the EUR/USD was up 1.01% and trading at 1.2462. Meanwhile, the greenback was up against the British pound, with GBP/USD down 0.61% at 1.5640. The USD was also up against the Japanese yen, with USD/JPY up 0.68% and trading at 118.53 while the USD was up against the Swiss franc, with USD/CHF up 0.46% at 0.9640. Against the currencies in Australia, New Zealand and Canada, the U.S. dollar traded up with AUD/USD down 0.43% at 0.8505, NZD/USD down 0.30% at 0.7846, while USD/CAD reached fresh three-week highs at 1.1426, up 0.83% for the day. Also, the US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.25% at 88.24.

Currencies - 29 Nov 2014

Metals and Energy

On Friday, gold prices declined. This came as U.S. markets were set to reopen after the Thanksgiving Day holiday on Thursday and as an abbreviated session of Comex floor trading was scheduled for Friday. On the Comex division of the New York Mercantile Exchange, gold for February delivery traded at $1,186.80 a troy ounce during European morning trade, down 0.89%. The December contract settled just 0.03% lower on Wednesday to end at $1,197.5 a troy ounce. Meanwhile, silver for March delivery plummeted 2.73% to $16.153 a troy ounce, while March copper lost 1.10% to trade at $2.920 a pound.

Gold - 29 Nov 2014

On Friday, crude oil futures were sharply lower, still hovering near their lowest level since September 2010 after the Organization of the Petroleum Exporting Countries (OPEC) decided on Thursday not to cut output. On the New York Mercantile Exchange, U.S. crude oil for delivery in January plummeted $4.39 or 5.96% to trade at $69.32 a barrel during European early afternoon trade. Elsewhere, on the ICE Futures Exchange in London, Brent oil for January delivery gained $0.48, or 0.67%, to hit $73.07 a barrel, with the spread between the Brent and the WTI crude contracts stranding at $3.75.

Crude Oil - 29 Nov 2014

Daily Market Review – 28 November 2014

Major Economic Events

Below you will find the top tier economic events for the 28th of November 2014. These major events are available on the Economic Calendar and they have the ability to impact the markets.

IF YOU WISH TO LEARN MORE ABOUT UNDERSTANDING THESE MAJOR MARKET EVENTS AND HOW THEY IMPACT ASSET PRICES, PLEASE CONTACT YOUR ACCOUNT MANAGER TO LEARN MORE ABOUT OUR PERSONAL BROKER SERVICE.

28 November 2014

All Day                                 Holiday               United States – Day After Thanksgiving – Close at 13:00
GBP                                      Nationwide HPI (MoM) (Nov)
CHF                                      KOF Leading Indicators (Nov)
GBP                                      Nationwide HPI (MoM) (Nov)
EUR                                     CPI (YoY) (Nov)
BRL                                      GDP (QoQ) (Q3)
CAD                                      GDP (MoM) (Sep)
CAD                                      RMPI (MoM) (Oct)

Global Markets

World Market Data - 28 Nov 2014

Due to the Thanksgiving holiday, the U.S. stock markets were closed on Thursday. On Wednesday, the Dow Jones Industrial Average (DJIA) and the S&P 500 index (SPX) scored their 30th and 47th record closes this year, respectively. At the close of U.S. trading, the Dow Jones Industrial Average (DJIA) added 12.81 points, or 0.1%, to 17,827.75. Also on the upside was the S&P 500 index (SPX) which closed 5.74 points, or 0.3%, higher at 2,072.77. Following the upward trend was the Nasdaq Composite index (COMP) which ended the day up 29.07 points, or 0.6% at 4,787.32. Also, the S&P 500 VIX index, which measures the outlook for market volatility, was down 1.06% at 12.12.

Mini Dow Jones - 28 Nov 2014

In other indices news, European indices ended the day mixed on Thursday. This came in response to disappointing inflation data which was released from Spain, while expectations for additional easing measures by the European Central Bank (ECB) continued to grow. After the close of European trade on Thursday, the DJ Euro Stoxx 50 rose 0.03% while France’s CAC 40 fell 0.06%. Meanwhile in Germany, the DAX rose 0.18% while in the United Kingdom, the FTSE 100 fell 0.09%. Elsewhere, stocks in Hong Kong fell for a second day and as a result, the Hang Seng Index dropped 0.3%. This came as a result of energy shares which sold off, after international crude oil prices sank to a four-and-a-half year low on news that OPEC has kept its production levels unchanged.  In Japan, stocks recovered some ground on Friday morning after two straight days of declines. This came after data showed Japan’s October retail sales rose 1.4% on year and industrial production beat forecasts with a month-on-month increase of 0.2%. As a result, the Nikkei 225 advanced 0.7%, with the broader Topix index also up 0.7%. Meanwhile in Australia, the S&P/ASX 200 was down 1.3% while in Shanghai, the Shanghai Composite Index rose 0.6%. Also in Seoul, the Kospi was up 0.3% while in Taipei, the Taiex traded up 0.6%.

Global Currency

Global Currencies - 28 Nov 2014

On Thursday, the U.S. dollar (USD) traded broadly higher against most major currencies. Trade volumes were expected to remain light with U.S. markets closed for the Thanksgiving holiday. At the end of trading, the EUR/USD was down 0.17% and trading at 1.2486. Meanwhile, the greenback was up against the British pound, with GBP/USD down 0.32% at 1.5741. The USD was up against the Japanese yen, with USD/JPY up 0.08% and trading at 117.78 while the USD was also up against the Swiss franc, with USD/CHF up 0.14% at 0.9625. Against the currencies in Australia, New Zealand and Canada, the U.S. dollar traded mixed with AUD/USD down 0.47% at 0.8549, NZD/USD down 0.72% at 0.7870 while USD/CAD was up 0.64% at 1.1319. Also, the US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.23% at 87.90.

Currencies - 28 Nov 2014

Metals and Energy

On Friday, gold prices eased in early Asian trade. This came as investors focused on demand cues from Switzerland and year-end holiday sales. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,189.50 a troy ounce, down 0.06%.  Meanwhile, silver futures for March rose 0.07% to trade at $16.267 a troy ounce while copper futures for March delivery shed 0.19% to trade at $2.947 a pound.

Gold - 28 Nov 2014

In other commodities news, crude oil prices fell in early Asian trade on Friday. This came as the market digested a decision by OPEC to largely leave current production intact that sent the commodity to a multi-year low overnight. On the New York Mercantile Exchange, crude oil for delivery in January traded at $68.97 a barrel, down 0.14%. Brent, the global benchmark, fell 6.3% to $72.82 a barrel on the ICE Futures Europe exchange.

Crude Oil - 28 Nov 2014

Daily Market Review – 27 November 2014

Major Economic Events

Below you will find the top tier economic events for the 27th of November 2014. These major events are available on the Economic Calendar and they have the ability to impact the markets.

IF YOU WISH TO LEARN MORE ABOUT UNDERSTANDING THESE MAJOR MARKET EVENTS AND HOW THEY IMPACT ASSET PRICES, PLEASE CONTACT YOUR ACCOUNT MANAGER TO LEARN MORE ABOUT OUR PERSONAL BROKER SERVICE.

27 November 2014

All Day                                 Holiday               United States – Thanksgiving Day
CHF                                       GDP (YoY) (Q3)
EUR                                      German Unemployment Change (Nov)
NZD                                      Building Consents (MoM) (Oct)
NZD                                      ANZ Business Confidence (Nov)
AUD                                      Private Sector Credit (MoM) (Oct)

Global Markets

World Market Data - 27 Nov 2014

On Wednesday, U.S. stocks finished higher. The S&P 500 and Dow Jones Industrial Average ended slightly higher, scoring their 47th and 30th record closes this year, respectively. Trading on Wall Street was thin with many participants taking off early for the Thanksgiving holiday. Markets will reopen on Friday for a shortened session ending at 1 p.m. At the close of U.S. trading, the Dow Jones Industrial Average (DJIA) added 12.81 points, or 0.1%, to 17,827.75. Also on the upside was the S&P 500 index (SPX) which closed 5.74 points, or 0.3%, higher at 2,072.77.  Gains were led by telecoms and technology sector stocks, but a big drop in energy companies’ shares capped the advance. Energy sector stocks sold off due to falling oil prices, driven by concerns about what the Organization of the Petroleum Exporting Countries will do about oil oversupplies. The Energy Select Sector SPDR Fund fell 1.3%. Also on the upside was the Nasdaq Composite index (COMP) which ended the day up 29.07 points, or 0.6% at 4,787.32. Also, the S&P 500 VIX index, which measures the outlook for market volatility, was down 1.06% at 12.12.

S&P 500 Index - 27 Nov 2014

In other indices news, European indices ended the day lower on Wednesday. After the close of European trade, the DJ Euro Stoxx 50 fell 0.40% while France’s CAC 40 fell 0.20%. Meanwhile in Germany, the DAX rose 0.55% while in the United Kingdom, the FTSE 100 fell 0.03%. Elsewhere, Asian stocks hit a one-month high on Thursday. This came as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded. In Japan, the Nikkei 225 fell 0.6% while Australia’s S&P/ASX 200 was up 0.1%. Meanwhile in Shanghai, the Shanghai Composite Index rose 0.6% while in Hong Kong, the Hang Seng Index was down 0.4% while in. Also in Seoul, the Kospi was up 0.2% while in Taipei, the Taiex traded up 0.7%.

On Thursday, U.S. markets will be closed for the Thanksgiving holiday.

Global Currency

Global Currencies - 27 Nov 2014

On Wednesday, the U.S. dollar (USD) traded largely lower against most major currencies. This came after the release of a mixed bag of U.S. indicators yesterday which weakened the greenback and which prompted investors to push back estimates as to when the Federal Reserve will hike interest rates next year. At the end of U.S. trading, the EUR/USD was up 0.28% and trading at 1.2508. Meanwhile, the greenback was down against the British pound, with GBP/USD up 0.58% at 1.5798. The USD was also down against the Japanese yen, with USD/JPY down 0.19% and trading at 117.75 while the USD was down against the Swiss franc, with USD/CHF down 0.29% at 0.9612. Against the currencies in Australia, New Zealand and Canada, the U.S. dollar traded down with AUD/USD up 0.23% at 0.8552, NZD/USD up 0.96% at 0.7883, while USD/CAD was down 0.20% at 1.1235. Also, the US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.31% at 87.69.

Currencies - 27 Nov 2014

Metals and Energy

On Thursday, gold held mostly steady in early Asian trade. This comes ahead of the start of the year-end shopping season that is key for demand for the precious yellow metal. Overnight, a mixed bag of U.S. indicators weakened the dollar on Wednesday which gave gold a boost, though profit taking took back earlier gains. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded down $1,198.00 a troy ounce, flat. This came after hitting an overnight session low of $1,194.70 and off a high of $1,201.50. Meanwhile, silver for March delivery fell 0.08% at $16.543 a troy ounce while copper futures for March delivery were down 0.06% at $2.954 a pound.

Gold - 27 Nov 2014

In other commodities news, crude oil prices eased on Thursday in early Asian trade. This comes as OPEC looks unlikely to make any significant cuts to production. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $73.48 a barrel, down 0.12%. This came after hitting an overnight session low of $73.33 a barrel and off a high of $74.44 a barrel. Meanwhile, the global Brent contract for January fell 0.7%, to $77.75 a barrel on the ICE Futures Europe exchange, also a four-year low.

Daily Market Review – 26 November 2014

Major Economic Events

Below you will find the top tier economic events for the 26th of November 2014. These major events are available on the Economic Calendar and they have the ability to impact the markets.

IF YOU WISH TO LEARN MORE ABOUT UNDERSTANDING THESE MAJOR MARKET EVENTS AND HOW THEY IMPACT ASSET PRICES, PLEASE CONTACT YOUR ACCOUNT MANAGER TO LEARN MORE ABOUT OUR PERSONAL BROKER SERVICE.

26 November 2014    

GBP                                       Business Investment (QoQ) (Q3)
GBP                                       GDP (QoQ) (Q3)
USD                                      Core Durable Goods Orders (MoM) (Oct)
USD                                      Core PCE Price Index (YoY) (Oct)
USD                                      Durable Goods Orders (MoM) (Oct)
USD                                      Initial Jobless Claims
USD                                      Personal Spending (MoM) (Oct)
USD                                      Chicago PMI (Nov)
USD                                      Michigan Consumer Expectations (Nov)
USD                                      New Home Sales (Oct)
USD                                      Pending Home Sales (MoM) (Oct)
NZD                                      Trade Balance (YoY) (Oct)

Global Markets

World Market data - 26 Nov 2014

On Tuesday, U.S. stocks ended the back-and-forth trading session marginally lower, snapping a three-day run on the S&P 500 and Dow Jones Industrial Average. Stocks traded in a narrow range, dipping in and out of negative territory after a variety of economic data showed a surprise dip in consumer confidence. Trading volumes were thinning as many U.S. investors prepared for travel ahead of Thanksgiving on Thursday. At the close of U.S. trading, the S&P 500 index (SPX) closed 2.37 points, or 0.1%, lower at 2,067.04 after setting an intraday high. Also on the downside was the Dow Jones Industrial Average (DJIA) which slipped 3 points to 17,814.94. Breaking the downward trend was the Nasdaq Composite index (COMP) which ended the day up 3.4 points, or 0.1%, at 4,758.25. Also, the S&P 500 VIX index, which measures the outlook for market volatility, was down 3.01% at 12.24.

Dow Jones - 26 Nov 2014

In other indices news, European indices ended the day higher on Tuesday. After the close of European trade, the DJ Euro Stoxx 50 rose 0.45% while France’s CAC 40 rose 0.32%. Meanwhile in Germany, the DAX rose 0.77% while in the United Kingdom, the FTSE 100 fell 0.02%. Elsewhere, in Asia, Japanese shares edged weaker while Australia gained on Wednesday. This comes ahead of a closely watched OPEC meeting on Thursday that could give indications of the world’s oil supply. In Japan, the Nikkei 225 fell 0.3% to 17360.92 while Australia’s S&P/ASX 200 was up 0.9% to 5381.60. Meanwhile in Shanghai, the Shanghai Composite Index rose 0.5% while in Hong Kong, the Hang Seng Index was up 0.1%. Also in Taipei, the Taiex traded up 0.1% while in Seoul, the Kospi was up 0.1%.

On Wednesday, the U.S. is to release a flurry of data ahead of Thursday’s holiday, including reports on durable goods orders, unemployment claims, personal income and spending, as well as reports on new and pending home sales and revised data on consumer sentiment.

Global Currency

Global Currencies - 26 Nov 2014

On Tuesday, the U.S. dollar (USD) traded largely lower against most major currencies despite upbeat economic growth data. After a disappointing U.S. consumer confidence report, investors sold the greenback for profits after weeks of rallying. At the end of U.S. trading, the EUR/USD was up 0.27% and trading at 1.2475. Meanwhile, the greenback was down against the British pound, with GBP/USD up 0.04% at 1.5714. The USD was also down against the Japanese yen, with USD/JPY down 0.35% and trading at 117.87 while the USD was down against the Swiss franc, with USD/CHF down 0.22% at 0.9644. Against the currencies in Australia, New Zealand and Canada, the U.S. dollar traded mixed with AUD/USD down 1.01% at 0.8259, NZD/USD down 0.71% at 0.7805, while USD/CAD was down 0.35% at 1.1243. Also, the US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.29% at 87.93.

Currencies - 26 Nov 2014

Metals and Energy

On Wednesday, gold prices rose in early Asian trade. This comes as investors focus on U.S. demand ahead of the start of the busy Christmas shopping season this week. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,201.40 a troy ounce, up 0.07%. This came after hitting an overnight session low of $1,190.60 and off a high of $1,203.00. Meanwhile, silver futures for March delivery held flat at $16.703 a troy ounce while copper futures for March delivery fell 0.17% at $2.962 a pound.

Gold - 26 Nov 2014

In other commodities news, crude oil prices dipped in early Asian trade on Wednesday despite U.S. industry data that showed a solid drop in crude stocks last week. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $73.82 a barrel, down 0.03%. This came after hitting an overnight session low of $74.29 a barrel and off a high of $76.57 a barrel. On Tuesday, the global Brent contract for January fell 1.7% to $78.33 a barrel on the ICE Futures Europe exchange.

Crude Oil - 26 Nov 2014