Daily Market Roundup: US ? April 2

Daily Market Roundup: US ? April 2

By: Ben Myers | Where To Trade | On:02-04-2015 10:27
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Key Highlights

  • Euro remained one of the top performers against the US dollar as it trade above 1.0850.

  • In the US, the trade balance i.e. a balance between exports and imports of total goods and services released by the Bureau of Economic Analysis and the U.S. Census Bureau registered a trade deficit of $-35.4B in March 2015, compared to the expectation of $-41.2B.

  • US Initial Jobless Claims released by the US Department of Labor decreased to 268K whereas the market was expecting it to come in at 285K.

  • US Counting Jobless Claims came in at 2.325M, down from the last revised reading of 2.413M.

Key Releases:

US initial jobless claims (US Dollar)

US trade balance (US Dollar)

US continuing jobless claims (US Dollar)

US initial Jobless Claims

Earlier during the NY session, the Initial Jobless Claims, which gauges the number of people filing first-time claims for state unemployment insurance was released by the US Department of Labor. The forecast was lined up for an increase from the last reading of 282K to 285K in the week ending March 28 as per the advance figure for seasonally adjusted. However, the outcome was well above the forecast, as the US Initial Jobless Claims was down to 268K. The report stated that the 4-week moving average now stands around the 285,500 level, which is 14,750 less than compared to the previous week's revised average of 300,250.

The US continuing jobless claims data was also published around the same time. The outcome was again on the better side, as it registered a reading of 2.325M, which was lower when compared to the forecast of 2.405M. The last reading was also revised down to 2.413M. The 4-week moving average now positions around the 2,387,750, which is 20,000 less than the previous week's revised average.

 

US Trade Balance

There was one more release lined up in the US, as the trade balance, which is a balance between exports and imports of total goods and services was released by the Bureau of Economic Analysis and the U.S. Census Bureau. The outcome was above the forecast, as the trade deficit was of $-35.4B in March 2015 whereas the forecast was of $-41.2B deficit.

Looking Ahead

The Futures for the Dow Jones Industrial Average managed to regain bids and traded higher by 105 points to 17,805. The S&P 500 index was also higher by 12 points to trade near 2,070.  

Ben Myers

Ben Myers

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Ben Myers is one of the most respected and trusted names in the financial trading industry. Following a long and successful career with HSBC, Bank of Ireland and running his own investment firm

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