OVERNIGHT MARKETS ROUND UP – 02/04/14

By
0 mins. to read

Asian stocks extended gains overnight, rising for a sixth straight day following robust US manufacturing data and optimism about global growth. Investors remain incredibly bullish, taking the opportunity to push up prices on lacklustre events. Data this week has been fairly mixed yet with the talks of China and the ECB potentially increasing stimulus, this has helped drive prices higher. European futures are signalling a higher open, with the FTSE called up 15 points. 

The US dollar continued to strengthen, touching a two-month high against the yen ahead of a private report which could show stronger US jobs growth. With the Federal Reserve threating to increase interest rates in the near future, investors will continue to keep a very close eye on data to try gauge when hikes could happen. The dollar is likely to remain very sensitive to data until a clear picture is given. 

Gold and silver rebounded slightly overnight, although still trading near 7-week lows as strength in equity markets curbed demand for safe havens. Gold futures for June are trading a little over 1280 an ounce after touching 1277.4, the lowest level since 11th February 2014.

Comments (0)

Comments are closed.

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.