Daily Market Roundup: US ? April 7

Daily Market Roundup: US ? April 7

By: James Ansher | Where To Trade | On:07-04-2015 10:38
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Key Highlights

  • New Zealand dollar was seen struggling against the US dollar compared to other currencies like Aussie dollar which managed to post gains.

  • In the US, the Economic Optimism Index, released by The Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP) registered a reading of 51.3 whereas the market was expecting it to stay at 49.1.

  • US JOLTS Job Openings i.e. a survey done by the US Bureau of Labor Statistics registered a reading of 5.133M whereas the expectation was of 5.010M in February 2015.

Key Releases:

US Economic Optimism Index (US Dollar)

US JOLTS Job Openings (US Dollar)

US Wholesale inventories (US Dollar)

US Economic Optimism Index

Earlier during the NY session, the Economic Optimism Index i.e. the sentiment of consumers related to economic conditions was released by The Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP). The forecast was lined up for no change from the last reading of 49.1 in April 2015, compared to the preceding month. However, the outcome was well above the forecast, as the Economic Optimism Index came in at 51.3. The report added that the index is around 3.9 points above its 12-month average of 47.4, and around 6.9 points above the index of time when the economy entered the recession. The current reading of around 2.1 points higher compared to the all-time average of 49.2.

The first component of index i.e. the Six-Month Economic Outlook, a measure of how consumers feel about the economy’s prospects in the next six months managed to rise by 4.6 points to 51.5. The second component i.e. the Personal Financial Outlook, which is a measure of how Americans feel about their own finances in the next six months was down by 1.5 points to 56.7. The last component i.e. the confidence in Federal Economic Policies representing a proprietary IBD/TIPP measure of views on how government economic policies are working gained by around 3.4 points to post 45.7.

US JOLTS Jobs Openings

There was one more release lined up in the US i.e. the JOLTS Job Openings i.e. a survey done by the US Bureau of Labor Statistics was published. The outcome was on the higher side, as it came in at 5.133M, compared to the forecast of 5.010M in February 2015.

Looking Ahead

The US stock market continued to gain during the NY session as the Futures for the Dow Jones Industrial Average moved up by 70 points to 17,950 and the S&P 500 was up to 2,086.  

James Ansher

James Ansher

When there is a will there is a trade

A successful Forex trader and expert advisor

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