Australian Stock Report - Market Pulse

Morning market update: Mixed night on markets

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Publish date: Fri, 12 Sep 2014, 09:29 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

There were mixed results on global markets overnight, with gains kept in check by disappointing US jobs data and tensions involving Russia.

Trading was choppy in the US after data revealed an unexpected increase in weekly jobless claims.

In Europe, the major markets started in positive territory after a poll on the Scottish referendum put the pro-union campaign back in the lead, but gains petered out as attention turned towards Russia

Russian stocks suffered hefty declines after the European Union agreed to levy new sanctions against Moscow.

Oil futures were on course for another sell-off, with US crude hitting its lowest point since April 2013 after the International Energy Agency cut its forecast for global oil demand.

However, the losses were followed by a sudden and dramatic turnaround that resulted in a one percent gain for oil.

Elsewhere, gold suffered a fourth consecutive loss, as the US dollar continues to surge amid expectations the Federal Reserve will adopt a more hawkish tone on interest rates at next week's FOMC meeting.

The greenback neared a six-year high versus the yen, whilst the Aussie sank to the lowest against its US counterpart since late March, hurt by yesterday's data out of China that revealed subdued pricing pressures.

The post Morning market update: Mixed night on markets appeared first on Market Pulse.

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