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European Market Accelerates on Stimulus; US to Focus on Fed, Economic Indicators

Oct 28,2014  Market News  Comment: 0

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Eldon, Missouri – (StockNewsDesk) – 10/28/2014 — The European stocks rose over 1.5% as investors expect a positive decision on stimulus measures. Meanwhile, Sweden’s Riksbank cut its interest rates to a record low to 0% from 0.25%. This is well beyond the analysts’ expectation of 15 basis points to 0.10%. Moreover, the country’s Central Bank announced that changes in repo rates will take place during mid-2016 instead of the end of 2015. This decision negatively affected Swedish krona. The value of Krona increased from 7.2801 to 7.3389, up 0.66% against the US dollar. Against the euro, Swedish krona jumped 0.91% to 9.3448. Consumer prices fell for seven months while the inflation figure remained below the target of 2% mark for over three years. The lawmakers said these stern steps were necessary to anchor the economy from falling into deflation. Inflation in the country stood near zero and was on the brink of falling into deflation.

The European stock market bolstered gains as investor sentiment turned bullish on the back of a speculation that stimulus measures will start and put the economy back on track. Besides this, investors await the outcome of the Fed Reserve meeting. Interest rates might remain unchanged as the European and Chinese economies are still reeling under a slowing economy. This Fed meeting will also decide the fate of the bond – buying program.

US Economic Indicators

Several economic indicators due for release will decide the tone of the markets. Month over month figures of Durable goods and Core Durable goods have come in below the Street’s expectations. Durable Goods Orders fell 1.3% compared to the previous reading of a fall of 18.3% and analysts’ expectation of 0.5%. Core Durable Goods Orders fell 0.2% compared to expectations of 0.5% and earlier reading of 0.7%. The gold and crude oil futures are trading in a narrow range. Gold futures are up 0.33% because of lower than expected Order numbers while crude oil futures are higher by 0.54%.

European Market Accelerates on Stimulus; US to Focus on Fed, Economic Indicators

Japan’s Economy

The third largest economy in the world, Japan, is likely to stay in focus for the next couple of days. The economy will be releasing its inflation and industrial production numbers in a couple of days. There is chance that inflation numbers will decline predominantly because of the fall in crude oil prices throughout the world. There is a consensus that monetary policy might remain unchanged. Industrial production numbers are due tomorrow. Industrial production might expand at 2.2% compared to earlier reading of -1.9%.

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