Markets March Higher
AvaTrade | Feb 09, 2017 08:28AM ET
As earning reports trickle out, markets have become stronger. Gold hit a three-month high yesterday, but as the dollar advances, it knocks the safe-haven off its pedestal, however, will the downward trend last?h3 /h3 h3 European & US Markets/h3
The euro is struggling as the dollar advances, EURUSD is now trading down 0.01% at $1.069.
European equities are lower this morning. There is uncertainty at every corner of Europe including; French, Italian and German elections with the added threat of spreading populism. Brexit negotiations are due to get under way by the end of March. Additionally, the IMF are questioning Greece’s bail-out programme, accusing Europe of holding down the Greek economy with excessive austerity measures.
- CAC 40 is trading at €4775.5
- DAX 30 is trading at €11566.00
- FTSE MIB is trading at €18685
- FTSE 100 is trading at £7129.50
Wall Street is finding it hard to re-create the post-election Trump rally. A calm tone rains over the US market, as equities search for a catalyst to direct them to a meaningful trend.
It is estimated that S&P 500 will decrease once US trading gets underway later today.
- S&P 500 is trading a $2290.00
- Nasdaq 100 is trading at $5193.00
- DJ 30 is trading at $20006.00
Gold is advancing this morning. The bullion usually moves inversely to the greenback. However, even the strong dollar is no match for this gold rally. The yellow metal offers no yield, therefore when interest rates are low the price of gold tends to be higher.
Gold trading at $1241.63
Oil prices are enjoying an upswing after a surprise dip in gasoline storages. Crude inventories rose to 13.8M, which far surpassed expectations.
h3 /h3 h3 News Today/h313:30 (GMT) US Unemployment Claims
15:30 (GMT) Natural Gas Storage
18:30 BOE Carney Speaks
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.