Fate of Foreign Oil Investors In Limbo Amid Ghana-Côte d’Ivoire Border Dispute
Stocks Likely to React to Slew of Economic Reports
Worries about Greece, Economic Slowdown Drive Up U.S. Dollar
The U.S. Dollar was up sharply against all major currencies as investors flocked to safer assets following a poor housing report and concerns about Greece’s ability to shore up its budget deficit. More the most part, it was a quiet trade on Thursday as many big Forex players stood on the sidelines ahead of Friday’s U.S. Non-Farm Payrolls Report.
U.S. Stock Traders Remain Cautious Ahead of Economic Reports
Despite a pick-up in demand for higher risk assets and higher Asian equity markets, U.S. stock indices are predicting a flat to lower opening. Traders seem to be taking a cautious approach before the release of this morning’s U.S. GDP, Chicago PMI, consumer confidence and existing home sales reports.
Dollar Mixed Overnight; Traders Focusing on Greece and Economic Data
U.S. investors drove stock indices higher following better than expected housing starts, industrial production and import price reports. Trading was light and there was very little follow-through to the upside following a strong early morning session. Traders were able to hold the indices steady following the FOMC report.
Traders Bidding up U.S. Stock Indices ahead of Economic Data
U.S. investors are driving stock indices higher ahead of this morning’s housing starts and industrial production reports. Renewed confidence in higher risk assets is also contributing to the strength. Trading could slow down after the morning session as investors flatten out ahead of this afternoon’s FOMC minutes.
Stocks Ignore Bullish Economic Data; Turn Focus on Risk
Land-locked Central Asian Oil Country Plays Important Role from Vancouver to Vladivostock
Lack of Economic Reports Shifts Focus to the Dollar
The lack of economic reports today is shifting the focus by U.S. equity traders to the U.S. Dollar. The prospect of the Fed keeping interest rates low for a “prolonged period” of time is helping to boost stock prices overnight as investors continue to treat the Dollar as a carry currency.