Daily Market Review
Welcome to OptionClick’s daily market review. In this section we will cover various assets and provide you with information regarding their current status and the upcoming events that may influence them. Be sure to keep up with the news to make the most of your ventures!
The pair fell slightly and is currently trading at 1.2576. A lack of data releases led the pair to see relatively small intermittent gains and falls. However, last week’s data has indicated that US consumer sentiment is higher than previously expected, with more faith put into the US economy. In the meantime, last week saw some negative data in the Eurozone, with the German Wholesale Price Index gaining 0.1% in the month of September, following a 0.2% decline in the previous month. However, the German Economic Sentiment dropped significantly, as well as industrial production. The European Central Bank urged governments to strengthen their economies in order to ensure the region’s economic success. At the same time, the bank is scheduled to begin the purchasing of asset-backed bonds within days.
Crude oil made slight gains and is trading at $82.25. The EIA’s weekly inventories report has indicated that US crude inventories have gained 9 million barrels between October 3 and 10. At the same time, gasoline inventories have gained 4 million barrels. Demand for 2015 is expected to decline, pointing toward a possible downtrend in the coming months. At the same time OPEC countries are offering discounted prices to several markets while maintaining a relatively high production rate, further contributing to declines.
The index is up 19 points, or 0.12% and trading at 16,399.67 after being at a 120 point loss during the trading session. The previous week has been volatile. In fact, the index hasn’t seen such volatility since 2011. However, as Ebola fears subsided, the index gained 263 points on Friday and ended the week on a higher note. IBM’s week quarterly earnings have pulled down the Dow Jones, however traders remain optimistic.
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