Markets finished the session up as hopes for further US Fed stimulus seemed to overshadow worries over the jobs market.

The Dow Index (see above chart) finished in positive territory for the third consecutive day after rallying 114 points to close at 13,204 while the S&P 500 rose 9.29 points to finish at 1,399. Earlier in the session the German Benchmark Index gained 0.36 percent to finish at 6739.

On the economic front the US Labour Department released figures that showed that new claims for unemployment benefits declined last week by 1,000 to a seasonally adjusted 388,000. The National Association of Realtors survey showed that pending home sales rose 4.1 percent in March, this is its highest level in almost two years.

The euro fell against the yen overnight, trading down from highs of 107.6 to as low as 106.55 ahead of the Bank of Japan’s policy meeting. The Japanese central bank is expected to expand its asset-purchase program by at least Y5 trillion.

WTI Oil prices have finished positive, lifted by a weaker US dollar and better prospects for growth in the US. WTI Oil traded up from overnight lows of 103.82 to as high as 104.93.

Gold rallied overnight as investors continued to digest the Federal Reserve Chairman Ben Bernanke remarks stating that the Fed is prepared to do more for the U.S. economy.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Overnight stocks finished near their highs after the US Fed reduced its forecast for unemployment coupled with robust earning released by the world’s biggest company Apple.

The Dow Index pushed on 89 points to close at 13,090 while the S&P 500 (see above chart) rallied 18 points, to finish at 1,390.69. Earlier in the session the German Benchmark Index finished the session up 1.76 percent at 6704 after a European Central Bank survey showed that credit standards are improving.

On the economic front the US Federal Reserve kept its key interest rate unchanged near zero until late 2014, but then boosted its outlook for economic growth for the year to between 2.4 percent and 2.9 percent.

The NZDUSD has traded up from lows of 0.8123 to recent highs of 0.8180 after the Reserve Bank of New Zealand left its official cash rate at a record low of 2.5 percent.

WTI crude oil futures finished a choppy session in the green getting a lift from US equities, WTI traded up from lows of 103.11 to as high as 104.58.

Gold initially tumbled USD$15 an ounce after the Federal Reserve finished their two day policy meeting, then recovered those losses and turned higher to finish the session at 1644.50.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Overnight markets all finished the session weaker as fears mount about the state of the European economy coupled with political uncertainty in both France and the Netherlands.

The Dow Index fell 102 points to finish the session at 12,927 while the S&P 500 declined 11.59 points to close at 1,366. Earlier in the session the Dax Index plummeted more than 3.3 percent to close at 6523.

The euro fell for the first time in five days against the yen after French President Nicolas Sarkozy was been beaten by Socialist leader Francois Hollande in the first round of elections in France. Over in the Netherlands the budget talks in the fell apart over the weekend with current Prime Minister Mark Rutte announcing that he will resign from his post, raising concerns over the country’s ability to hold its triple-A credit rating. EURJPY (see above chart) traded down from overnight highs of 107.82 to recent lows of 106.33.

On the economic front, German manufacturing sector unexpectedly declined at the fastest pace in nearly three years in April. Yesterday afternoon the Chinese PMI survey showed that factories posted their best performance this year as a measure of new business rose from multi-month lows.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Stocks finished the week positive after solid earning out of the US coupled with encouraging news out of Europe.

The Dow Index rose 65 points to finish at 13,029 flirting with the 13,000 milestone all week while the S&P 500 gained 1.21 point to close at 1,378.53. Earlier in the session the Dax Index rallied 1.18 percent to close at 6750.

The GBPUSD (see above chart) rallied to touch a five-month high Friday session on signs of improving U.K. consumer demand and expectations the country’s policymakers will pause from further monetary stimulus.

WTI crude oil traded up from Friday night lows of 102.95 to as high as 104.70 following a report out of Germany that showed that the business sentiment rose unexpectedly for the sixth month in a row.

Gold stayed nearly flat in light trade on Friday, it is still on track to log declines for two of the past three weeks as investors took to the sidelines ahead of a Federal Reserve policy meeting next week.

Looking ahead the Chinese HSBC Flash Manufacturing PMI numbers will be released this afternoon.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Markets finish a volatile session down after positive Spanish bond auction boosted the investor sentiment early followed by disappointing US economic data later in the session.

The Dow Index dropped 68 point to finish the session at 12,964 while the S&P 500 erased 8.22 points to finish at 1,376. Earlier in the session European shares were also lower after rumours hit the market that the France was heading for a downgrade ahead of the upcoming presidential elections.

The EURUSD (see above chart) held onto the its early gains after Spain’s 2.5 billion euro auctions of 2 and 10 year sovereign bonds were met with solid demand. The EURUSD traded up from overnight lows of 1.3070 to as high as 1.3153.

The Philadelphia Fed index announced that business conditions for April came in at 8.5, well below forecasts.

WTI crude oil declined from overnight highs of 103.22 to as low as 101.66 after the Labour Department released numbers that shows US jobless claims fell less than expected to a seasonally adjusted 386,000 last week.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Overnight stock markets are overall lower led by Spanish stocks which slipped on concerns about the health of the country’s banking sector.

The Dow Index slumped 82 points to close at 13,032.7 while the S&P 500 skidded 5.64 points to finish at 1,385.14.

Earlier in the session the FTSEuro which is the index for the top European shares closed down over 0.6 percent after a European Central Bank policymaker Jens Weidmann said Spain should take a rise in its bond yields as a spur to tackle the root causes of its debt woes and not look to the ECB to help by buying its bonds.

The EURGBP (see above chart) which fell from highs of 0.8401 during the European session after the Bank of England seemed to rule out further easing in minutes from its latest rate-setting meeting, remained near its lows0.8175 throughout the New York trading session.

WTI crude oil fell the most in two weeks after the US Energy Department released a report showing a larger than expected supply gain. WTI crude traded down from overnight highs of 104.54 to recent lows of 102.22.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/

Overnight equity markets had a strong rally due mainly due to solid US company earnings coupled with positive results from a Spanish government bill auction and upbeat German investor sentiment numbers.

The Dow Index soared 194 points to finish the day at 13,115, closing above the psychological level of 13,000for the first time in two weeks while the S&P 500 jumped 21.21 points to close at 1,390. Earlier in the session European shares closed sharply higher after a well-received Spanish debt auction.

The RBA last rate decision minutes were released yesterday which showed that they can justify a rate cut if 1Q inflation data comes in reasonably low as expected, this will be released this coming Tuesday. On this news the AUDUSD traded down to overnight lows of 1.0305 but has subsequently rallied to as high as 1.0415.

On the economic front, the US Commerce Department released figures that showed that housing starts tumbled unexpectedly to 5.8 percent to a seasonally adjusted annual rate of 654,000 units last month. While the Federal Reserve industrial production data was flat for a second consecutive month in March.

WTI crude oil (see above chart) climbed to a two week high as Spain raised more than its maximum target at a debt auction followed by news that the IMF bolstered its global growth outlook. WTI crude traded up from overnight lows 102.66 to as high as 105.06.

Source
Bloomberg, Dow Jones News

http://www.vantagefx.com/market-news/market-wrap/