Daily Market Roundup: US ? Feb 24

Daily Market Roundup: US ? Feb 24

By: Ben Myers | Where To Trade | On:24-02-2015 16:15
Back

Key Highlights

  • US dollar traded higher after Yellen’s speech and positive releases in the US.

  • US S&P/Case-Shiller Home Price Indices released by the Standard & Poor's registered a rise of 4.5% in December 2014, compared to the same month a year ago.

  • US Services Purchasing Managers Index (PMI) released by Markit Economics registered a reading of 57.0 in February 2015, compared to the last reading of 54.2.

  • US Consumer Confidence released by the Conference Board came in at 96.4 in February 2015, compared to the last reading of 102.9 and expectation of 99.6.

  • EURUSD and GBPUSD fell sharply, but was seen holding ground around important levels.

Key Releases:

S&P/Case-Shiller Home Price Indices (US Dollar)

US markit services PMI (US Dollar)

US consumer confidence (US Dollar)

US Session Roundup

Today, during the NY session, there were a few important events lined up including a speech from the fed chairwoman Janet yeller, services PMI and the consumer confidence. In her speech, Yellen stated that the fed will reduce balance sheet gradually, and will raise rates when reasonably confident on inflation.

US Services PMI

The US Services Purchasing Managers Index (PMI) was released by Markit Economics. The forecast was lined up for a decline from 54.2 to 54.1 in February 2015. However, the outcome was on the higher side, as the US Services Purchasing Managers Index (PMI) increased to 57.0. There was a sharp rise in the services payroll numbers in February, which marks five years of sustained jobs growth and was the fastest since November 2014.

Moreover, the report mentioned that the Growth of new business rose from the preceding month, and was the sharpest for four months. Client’s demand boosted in February, which was a positive sign in the near term. Chris Williamson, chief economist at Markit stated in the report that “stronger growth of service sector activity in February puts a June Fed rate rise firmly back on the table”.

The US Consumer Confidence was also released by the Conference Board. The outcome was a bit lower, as the US consumer confidence came in at 96.4 in February 2015, which was lower than the last reading of 102.9.

Looking Ahead

The Futures for the Dow Jones Industrial Average was seen trading a touch higher towards to 18,134, and the S&P 500 index was trading flat around the 2107 level. The US dollar was seen trading higher against most major currencies and might continue to do so.

 

Ben Myers

Ben Myers

Success = few pips, thousand times

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

By:  |  | On:2016-11-10
Against all odds, the Asian markets opened higher

Against all odds, the Asian markets opened higher

By: Simon Furman | Where To Trade | On:Wednesday, November 10, 2016

Asian shares tumbled starting Wednesday, when the election poll trickled in and the Republican candidate had a clear advantage

Free Forex Seminar Coming Up in Budapest

Free Forex Seminar Coming Up in Budapest

By: James Ansher | XM | On:November 10, 2016

Designed for both novice and more advanced traders, the topic of the seminar provide useful information about the practical use of price risk levels, including various techniques used in risk management

Donald Trump has been elected as the 45th president of the United States of America

Donald Trump has been elected as the 45th president of the United States of America

By: Oliver Miller | Where To Trade | On:November 9, 2016

After tumbling overnight, the dollar strengthened during and after Donald Trump’s first speech as the elected President of the United States

Gold Futures were up 0.61%, to trade at $1,326.95 an ounce

Gold Futures were up 0.61%, to trade at $1,326.95 an ounce

By: Darryl Frankfort | Where To Trade | On:Monday, October 31, 2016

Monday, October 31, 2016 - Stocks were mixed at the end of the day. The Dow Jones Industrial Average closed 0.10% lower at 18,142.42, while the S&P 500 Index rose 0.01% closing at 2,126.15.

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings