Asian stocks climbed overnight, following gains from Wall Street late Friday. Asian stocks were lifted by a jump in mainland Chinese shares and the regional index headed for its longest streak of gains since late 2013. Chinese stocks traded higher following speculation that Lunar New Year sales were strong. European shares are likely to follow suit, with the FTSE 100 indicating an 11 point higher open. Economic data is fairly light at the start of the week ahead of a number of important speeches from BOE governor Mark Carney and Fed Chairman Janet Yellen. This Thursday marks the latest opportunity for Bank of England Governor to discuss interest rates in detail, with a number of economists predicting Carney to put the process of raising interest rates into motion. Set at 0.5 percent, a number of banks were predicting that the strongest growth since 2007 would prompt the U.K. to lift its benchmark rate in early 2015. Gold rose to a two-week high, on track for the longest rally since October as US non-farm job data missed estimates on Friday. Silver is heading for the longest winning run since August.
OVERNIGHT MARKETS ROUND UP – 10/02/14
Asian stocks climbed overnight, following gains from Wall Street late Friday. Asian stocks were lifted by a jump in mainland Chinese shares and the regional index headed for its longest streak of gains since late 2013. Chinese stocks traded higher following speculation that Lunar New Year sales were strong. European shares are likely to follow suit, with the FTSE 100 indicating an 11 point higher open.
Economic data is fairly light at the start of the week ahead of a number of important speeches from BOE governor Mark Carney and Fed Chairman Janet Yellen. This Thursday marks the latest opportunity for Bank of England Governor to discuss interest rates in detail, with a number of economists predicting Carney to put the process of raising interest rates into motion. Set at 0.5 percent, a number of banks were predicting that the strongest growth since 2007 would prompt the U.K. to lift its benchmark rate in early 2015.
Gold rose to a two-week high, on track for the longest rally since October as US non-farm job data missed estimates on Friday. Silver is heading for the longest winning run since August.