25 Apr 2014
Markets retreat on geopolitical jitters, poor results
FXStreet (Edinburgh) - Equities in the US markets turned red for the week following escalating tensions in Ukraine as well as disappointing earnings results from the corporate sector.
In the data front, US services PMI gauged by Markit missed expectations for the present month, dropping to 54.2 vs. 56.2 estimated. Consumer Sentiment tracked by the Reuters/Michigan index surprised to the upside, although it was not enough to curb the prevailing pessimism. The greenback, in terms of the DXY, is extending its bounce off session lows near 79.65, currently trading just below 79.80. At the moment DowJones is down 0.66% followed by the S&P500, 0.6% and the Nasdaq, 1.38%.
The main indices in Euroland also closed with losses at the end of the week against the backdrop of rising concerns in Ukraine. The DAX dropped 1.54% seconded by the IBEX35, 1.49% and the CAC40, 0.80%. The EUR/USD is posting meagre gains around 1.3840, paving the way for a consolidation of the recent advance above 1.3800 the figure.
In the commodities’ universe, the barrel of WTI breached the $101.00 support, losing more than 1% while the ounce troy of gold regains the £1,300 key mark, advancing 0.8%.
In the data front, US services PMI gauged by Markit missed expectations for the present month, dropping to 54.2 vs. 56.2 estimated. Consumer Sentiment tracked by the Reuters/Michigan index surprised to the upside, although it was not enough to curb the prevailing pessimism. The greenback, in terms of the DXY, is extending its bounce off session lows near 79.65, currently trading just below 79.80. At the moment DowJones is down 0.66% followed by the S&P500, 0.6% and the Nasdaq, 1.38%.
The main indices in Euroland also closed with losses at the end of the week against the backdrop of rising concerns in Ukraine. The DAX dropped 1.54% seconded by the IBEX35, 1.49% and the CAC40, 0.80%. The EUR/USD is posting meagre gains around 1.3840, paving the way for a consolidation of the recent advance above 1.3800 the figure.
In the commodities’ universe, the barrel of WTI breached the $101.00 support, losing more than 1% while the ounce troy of gold regains the £1,300 key mark, advancing 0.8%.