Tag Archives: Euro

Euro Inches Away From 2 1/2-Month Lows

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

WHAT WE’RE WATCHING TODAY

Euro Inches Away From 2 1/2-Month Lows

The euro staged a rebound today from a 2-1/2-month trough rising 0.1 percent to $1.3718. It had fallen as far as $1.3648 on Thursday, its lowest level since late February, in response to data showing the Eurozone grew much less than expected at the start of the year. The euro was down about 0.3 percent for the week at its current levels, putting it on track for its second straight weekly decline. The euro has fallen roughly 2 percent since May 8 when European Central Bank (ECB) President Mario Draghi persuaded markets that the bank was ready to inject fresh stimulus next month. The disappointing growth figures on Thursday only served to fuel those dovish expectations. The euro eased 0.1 percent to about 139.17 yen, not far from a 2-1/2-month low near 138.97 yen set on Thursday.

Stock Market Slumps As Economy Stuck In Low Growth

The big debate about the U.S. economy as the country emerges from the winter is whether the growth it has been experiencing is modest or accelerating. Recent figures show that recovery is “modest” which has big implications for stock prices. April Industrial Production, down 0.6 percent, was a big disappointment since it was only expected to be down 0.2 percent. That joins April Retail Sales, released on Tuesday, which were also disappointing. Bond yields are dropping in the U.S. and most of Europe, but importantly bond yields are higher in the periphery in Europe…in Italy, in Greece and in Spain. The final number we are looking for is April Housing Starts, out today. Starts are expected at 984,000, the best since December, but some are expecting more than 1.0 million Permits. The numbers so far have not been optimistic for housing. The NAHB Housing Market Index, an indicator of sentiment among home builders was also a disappointment, at 45, below expectations of 48. If we get disappointing Starts and Permits, could it be the nail in the coffin for a robust housing recovery this spring?

Gold Settles Lower After Jump In Consumer Prices

Gold prices on Thursday gave back some of the gains they notched a day earlier after a jump in consumer prices in the U.S. and a drop in jobless claims pointed to an economy on the mend, dulling the precious metal’s safe-haven appeal. Gold for June delivery fell $12.30, or 0.9%, to settle at $1,293.60 an ounce. This comes a day after the precious metal closed up $11.10, or 0.9%, at $1,305.90 an ounce. Gold reacted on the positive U.S. economic news of a lower reading of initial jobless claims which were below 300,000 - a positive sign for labour markets going forward. Consumer prices rose by 0.3% in April to mark the biggest gain since June, with core prices up 0.2%, while jobless claims fell to the lowest level since 2007. Analysts say jobless claims and CPI data have triggered a shift in sentiment for markets. Traders are punishing gold on the back of this data as it shows an improvement in the economic growth.

That sums up today’s highlights! Don’t forget you can stay in touch via our social media channels for all your up-to-the-the minute trading news. We hope you have a profitable day on the markets.

Euro Steadies After Falling On Dovish Draghi Comments

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: GB Manufacturing Production m/m @ 08.30 GMT

WHAT WE’RE WATCHING TODAY

Euro Steadies After Falling On Dovish Draghi Comments

The euro struggled to gain traction today after dovish comments from European Central Bank President Mario Draghi sent the currency tumbling from a 2-1/2 year high. The Euro held steady at $1.3839, having pulled back from a peak of $1.3995 on Thursday, the highest since October 2011. Draghi said the euro’s strength was “a serious concern” and that the ECB bank might act to stem falling inflation at its June meeting, signaling possible easing. Before Draghi’s comments, the single currency had surged after the ECB on Thursday kept monetary policy unchanged as expected. Traders say the ECB, which has focused on the euro’s strength in the past few weeks, gets uneasy when the euro rises towards $1.40. A Reuters poll on Wednesday showed most economists expect ECB action if the euro hits $1.42.

The dollar was little changed at 101.70 yen, still not very far from a three-week low of 101.43 yen set on Wednesday. For the week, the greenback is down 0.5 percent against the yen, weighed down by persistently dovish comments from the Federal Reserve and low U.S. Treasury yields. Simmering tensions in the Ukraine have also supported the safe-haven yen currency. The Australian dollar eased 0.1 percent to $0.9364, edging away from a three-week high of $0.9395 hit on Thursday, when it gained a lift from upbeat Australian and Chinese economic data.

European Stock-Index Futures Little Changed Amid Earnings

European stock-index futures were little changed, after the Stoxx Europe 600 Index climbed yesterday to its highest level in more than six years, as investors weighed corporate earnings. U.S. index futures and Asian shares were also little changed. Futures on the Euro Stoxx 50 Index expiring in June declined 0.2 percent to 3,164 at 7:20 a.m. in London. Contracts on the U.K.’s FTSE 100 Index fell 0.1 percent, while Standard & Poor’s 500 Index futures slipped less than 0.1 percent. The MSCI Asia Pacific Index added 0.1 percent. The Stoxx 600 climbed yesterday for the first time in five days, sending the benchmark gauge to its highest level since January 2008, after European Central Bank President Mario Draghi pledged to ease monetary policy next month if needed. Thirteen companies in the Stoxx 600 are reporting quarterly results today. Profits for companies on the Stoxx 600 will climb 8.3 percent this year on average, according to analysts’ estimates. The gauge is up 0.5 percent so far this week, poised for the fourth straight weekly gain.

Gold Steady On Ukraine Tensions But Poised For 2nd Weekly Drop

Gold prices were steady on Friday, supported by geopolitical tensions in Ukraine, but poised to post its second straight weekly decline as more strong U.S. data showed that the world’s largest economy was recovering well, supportive of the Federal Reserve’s stance to keep trimming monetary stimulus. Spot gold was little changed at $1,290.34 an ounce. The metal is down 0.7 percent for the week, its second straight weekly decline. Ukraine tensions have been behind much of gold’s 7 percent rise this year, but traders fear the gains would dissipate quickly once the situation is resolved and on the back of a U.S. economic recovery. Physical demand has also been muted despite the drop in prices, with many hoping that a stabilisation in prices would bring back buyers.

That sums up today’s highlights! We hope you have a profitable day on the markets.

No Surprises Expected At Today’s Fed Meeting

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

WHAT WE’RE WATCHING TODAY

No Surprises Expected At Fed Meeting; Incremental Taper Set To Continue

The Federal Reserve ends a two-day meeting today with its 18.00 GMT statement, where it is expected to announce that it will cut back its quantitative easing, bond buying program by a further $10 to $45 billion a month. The Fed is likely to discuss its statement, the economy and the conditions that might lead it to raise short term interest rates. The central bank’s policy statement could be a little more upbeat on the margin, as recent economic data has supported the central bank’s conclusion that economic growth was only temporarily held down in the first quarter by winter storms. In March, the Fed statement said that the economy slowed in March “in part” because of the storms.

The data the Fed will review during its meeting will also interest the markets. First quarter GDP will be released and economists expect a super sluggish 1.2 percent rate of growth in the first quarter. On the upside, ADP also releases its private sector payroll report and expects a 210,000 increase in April payrolls, close to what is expected in the government’s Friday jobs report. Fed officials believe the economy is on track to slowly improve in the second half of the year and could be strong enough for the central bank to begin to raise short-term interest rates in the second half of 2015.

Dollar Up Versus Euro Following Soft German Inflation

The U.S. dollar rose against the euro on Tuesday after a softer than expected reading on German inflation added to mounting concern about the euro zone’s low inflation, which could initiate further easing from the European Central Bank if it continues. The euro EUR/USD fell to $1.3809 from $1.3851 late Monday. A preliminary reading on German HICP inflation showed an increase of 1.1% in April, missing estimates of a 1.3% rise in inflation. The central bank targets inflation of just under 2% in the medium term as a guidepost for its monetary policy. The ECB has maintained that its inflation expectations remain anchored, while pointing out that continued low levels of inflation could pose a risk to those expectations. ECB officials have highlighted the high level of the euro exchange rate as a factor weighing on inflation and have mentioned quantitative easing as a valid policy option. Most analysts agree that the euro likely won’t substantially lower from its current level until a concrete action is taken by the central bank.

Twitter’s Lackluster Results Leave Investors Twitchy

Twitter reported lackluster user and usage growth for the second consecutive quarter yesterday, deepening investor concerns about its struggle to gain a mass following. Twitter’s stock fell more than 10 percent after hours to $38.05, below its post-initial public offering low of $38.80 on November 25. More worryingly, the company said its 255 million monthly users, on average, appeared to check the service less frequently than a year ago. The results revealed slowing momentum at a company that exuberant investors just six months ago had argued could one day match Facebook’s scale. At its peak in December, Twitter enjoyed a $46 billion market capitalization on just $665 million of revenue in 2013, making it one of the world’s priciest stocks. Cracks began to show in February, when Twitter disclosed that user growth had fallen to its lowest rate in years, prompting Chief Executive Dick Costolo to promise tweaks to Twitter’s design. Investors will be closely monitoring Twitter stock prices as these new developments are implemented amid the latest disappointing earnings report.

That sums up today’s highlights! Don’t forget you can find us on Facebook, Twitter, Google+ and LinkedIn where you can find all the latest news and updates on the markets. We hope you have a profitable day on the markets.

Gold Declines For Second Day In Advance of Fed Policy Meeting

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD CB Consumer Confidence @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

Gold Declines For Second Day In Advance Of Fed Policy Meeting

Gold declined for a second day, trimming a monthly rise, on speculation that the Federal Reserve will further reduce U.S. monetary stimulus as it starts a two-day policy meeting today. Bullion for immediate delivery fell as much as 0.2 percent to $1,293.68 an ounce, trading at $1,295.70. Gold has advanced 7.8 percent this year in part as the tension in Ukraine spurred haven demand. With further sanctions for Russia looking certain, traders are likely to continue seeking safety in gold in the near term and if gold continues to rally, April highs at $1,331 will be the key level to look out for this week.

Euro Resilient Ahead Of Inflation Test

The euro traded at multi-week highs against the yen early today and held firm against the dollar following a surprisingly strong performance overnight as expectations for additional stimulus from the European Central Bank waned. The Euro reached a three-week peak of 142.18 yen, before slipping a touch to 141.97 yen. ECB President Mario Draghi told German lawmakers the central bank was still a long way off from implementing a bond-buying program even in the face of persistently low inflation. Still, traders said any downside surprise in the inflation numbers will weigh on the euro, especially since the market is positioning for a pick up in price pressure. German inflation figures are due later on Tuesday, ahead of the euro zone number on Wednesday. The euro was a touch firmer on the dollar at $1.3852 after recoiling from a two-week high of $1.3880, helping the dollar index recover to 79.696 from a two-week low of 79.548.

Wall Street Divided Over Twitter’s Prospects

Not so long ago, Twitter vowed not to end up like Facebook. As it prepared to debut, the last thing the company wanted was a repeat of Facebook’s rocky IPO and subsequent sell-off. Now, ironically, Twitter’s inability to replicate Facebook’s success in mobile and online may be what is holding it back. Wall Street remains divided over Twitter as the company prepares to unveil its second set of quarterly numbers. Eleven of 31 investment analysts polled by Thomson Reuters rate it a “sell,” outnumbering the seven who deem it a “buy.” The rest have a hold rating or its equivalent. That’s a stark contrast with Facebook and Google, neither of which has a single sell rating to their name. A strong quarterly showing from Facebook last week reflected an ramped-up online and mobile advertising market that’s likely to have given Twitter a boost. Longer-term, investors remain divided over whether Twitter can ever be as mainstream as Facebook. Yet $26 billion, the company still trades at 37 times sales, against 19 for Facebook, which boasts almost six times as many users as Twitter. Indeed, bullish analysts argue that the company is on the verge of realising its larger potential. Five months after its debut, Twitter stock remains above $40, versus its $26 offering price. Twitter has always seemed better placed to make money off of its smartphone user base. Although rivals Google and Facebook dominate mobile advertising, Twitter’s ad machine may get a jump-start once it places targeted ads in apps, tailored for users and their interests, which will extend its ad reach far beyond its 241 million users. Many believe that Twitter is best-placed to grab a significant slice of huge TV ad budgets because of its growing presence as the “second screen” that TV audiences turn to online, to catch up on their favorite shows. Analysts expect Twitter to have lost almost $159 million, or about 3 cents a share, on revenue of $241.47 million in the January-March quarter, according to Thomson Reuters.

That sums up today’s highlights! Keep in touch with the investment team here at Banc De Binary via Facebook, Twitter, Google+ and LinkedIn for all the latest market news. We hope you have a profitable day on the markets.

Currencies: Dollar, Euro, Aussie Latest

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Crude Oil Inventories @ 14.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Dollar Strength Wanes, Aussie Slides, Euro & Other Major Currencies Subdued

Investors trimmed U.S. dollar positions on Tuesday after a two-week run higher, seemingly unmoved by a U.S. March existing home sales report that beat expectations but still showed a modest decline to a one and a half year low. Trading ranges remained narrow as Europe returned from the Easter holidays and faced uncertainty over whether European Central Bank policy will move toward more monetary stimulus. The euro gave up some of its modest gains, but remained positive against the greenback and yen. European Central Bank President Mario Draghi recently stated that the euro’s strength and very weak inflation in the euro zone, due partly to the strong exchange rate, are possible triggers for the central bank to ease monetary policy. The euro slipped to a two-week low before rebounding to trade slightly higher around $1.38. Investors await today’s euro zone ‘flash’ PMI surveys while the German IFO institute’s monthly reading of business sentiment in Europe’s largest economy is due Thursday. The Australian dollar, meanwhile, slipped today after data showed that Australian consumer prices rose less than expected in the first quarter, lessening the risk of a rise in domestic interest rates this year. The currency tumbled 0.9 percent to $0.9286, pulling away from a five-month high of $0.9461 set earlier in April. Other major currencies were subdued, with the euro edging up 0.1 percent to around $1.381, while the dollar eased 0.1 percent to 102.55 yen.

Gold Above 10-Week Low as Investors Look To Ukraine & U.S. Recovery

Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks. Bullion for immediate delivery was at $1,284.84 an ounce from $1,283.81 yesterday, when prices fell for a sixth day to $1,277.69, the lowest level since Feb. 11. While gold’s 12-year bull-run ended in 2013 on expectations the Federal Reserve would reduce stimulus as the world’s largest economy recovers, prices have rallied 6.9 percent this year as unrest in Ukraine spurred haven demand. In China, the biggest consumer, volumes for the benchmark spot bullion contract in Shanghai climbed for a second day to a five-week high yesterday.

Google’s Stellar Growth…

More technological developments for Google as the company announces that together with NASA, it is developing smart robots designed to fly around the International Space Station which will eventually take over some menial tasks from astronauts with the aid of custom-built smartphones. NASA is planning to attach smartphones to the flying robots to give them spatial awareness that would enable them to travel throughout the space station. The Android-based phones will track the 3D motion of the robotic spheres while mapping their surroundings in an effort to give mobile devices human-scale sense of space and motion. The new phones are scheduled for launch into space on June 10. Google says the technology may also have applications on earth, such as in gaming and navigation assistance for the visually-impaired. Traders may wish to keep an eye on Google stock prices.

That sums up today’s highlights! Keep posted with our regular Facebook, Google+, Twitter and LinkedIn updates for traders. We hope you have a successful day on the markets!

Dollar Subdued After U.S. Jobs Data

Here’s Monday’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets today:

WHAT WE’RE WATCHING TODAY

Dollar Subdued After Jobs Data, Euro Wary Of Bond-Buying Stimulus

Commodity currencies held onto solid gains early today as the dollar and euro fell by the wayside and lost ground to an otherwise soft yen. The U.S. dollar lost favour with investors after the U.S. jobs report failed to live up to the market’s high expectations, whilst the possibility of the European Central Bank launching its own bond-buying stimulus kept euro bulls at bay. Data last Friday showed the world’s biggest economy generated 192,000 jobs last month, just below economists’ estimate of 200,000 but well down from whisper numbers that had made the rounds in the markets. Traders said the dollar’s dip was a reflection of market positioning rather than any true weakness in payrolls. However, the dollar only slightly underperformed the euro, which came under pressure after reports added weight to possible bond-buying stimulus from the ECB. The euro fell to one-week lows against the yen at 141.30. Against the dollar, it stood at $1.3697, having edged off a five-week trough of $1.3672.

Gold Holds Gains On US Jobs Data

Despite the weak jobs report, data on Friday showed that investors had pulled money out of gold, raising the risk that the gains in prices might not last. However, gold held onto gains today following its biggest one-day jump in over three weeks as investor worries about an early U.S. interest rate hike eased when the nonfarm payrolls report failed to meet market expectations. Markets feared that a strong jobs report, which followed a recent string of good economic data, could prompt a tightening of U.S. monetary policy after Federal Reserve Chair Janet Yellen indicated last month that interest rates could rise in the first half of 2015. Low interest rates have been an important factor driving gold prices higher in recent years. Gold remained steady at $1,302.36 an ounce today, after gaining 1.2 percent on Friday - its biggest percentage increase since March 12 and close to a one-week high of $1,306.50 hit in the previous session.

Is Google Planning To Jump Into Wireless?

According to reports, Google is considering launching its own wireless service, likely to commence in some of the U.S cities where the company currently offers Google Fiber. The company had talks with Verizon early in the year about buying wholesale access to its networks, and then presumably selling it straight to consumers. Google previously had similar talks with Sprint. Although Google is poised to move into wireless broadband, its network is still tiny compared to major broadband providers but the company’s penchant for ambitious experiments makes it a definite possibility that it will attempt to penetrate the wireless market. Watch this space….and stock prices!

That sums up today’s highlights! Keep checking in via our social media channels for all the latest financial news and events of the day! We hope you have a profitable day on the markets.

Dollar Gains But Euro Weaker As ECB Considers Easing

Here’s Friday’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Event Of The Day: GBP Current Account @ 09.30 GMT

WHAT WE’RE WATCHING TODAY

Dollar Gains But Euro Weaker As ECB Considers Easing

The dollar gained against the euro on Thursday as investors bet the Federal Reserve will start hiking rates before Europe’s central bank, which has signaled it could loosen monetary policy soon. Fed Chair Janet Yellen said that the central bank could potentially raise rates after a period of about six months from the end of its bond-buying program. That puts the first hike as early as next spring and has surprised market participants. At the same time, the euro has been under pressure on rising expectations the European Central Bank will move to further ease monetary policy in an effort to stave off deflation. The euro EUR/USD changed hands at $1.3744, down 0.3% on the day. The shared currency has weakened since ECB officials this week signaled the central bank would consider negative deposit rates and a move toward outright quantitative easing. The U.S. dollar added slightly to gains after the Labor Department said the number of people who applied for first-time weekly jobless benefits fell by 10,000 to 311,000 in the week ended March 20, the lowest level in four months. Economists had forecast claims of 320,000.

Gold Near 6-Week Low; Heading For Second Weekly Loss

Gold recovered slightly on Friday after sharp overnight declines but the metal remained near six-week lows and on track for a second straight weekly decline, as improving sentiment over the U.S. economic outlook dented its safe-haven appeal. Bullion has dropped about $100 an ounce from a six-month high in the last nine trading sessions on strong U.S. economic data and comments by Federal Reserve chairman Janet Yellen that interest rates could rise in the first half of 2015. The sharp drop in prices in the last few days is expected to bring physical buyers back into the market and help gold prices consolidate although some analysts have expressed concern that there could be a further downside ahead for gold and that the metal will struggle in the face of weak demand and forecasted rising real interest rates in the U.S.

Is Social Media The Future Of Trading?

Stock prices are driven largely by mass psychology while social media enhances people’s ability to share opinions and news on a large scale. As more individuals join the social networks Facebook, Twitter, or LinkedIn, their role in spreading information will increase. Market information will be more easily shared amongst consumers of social media, decreasing the time it takes for potential investors to react to changing conditions. Simultaneously, the reaction time of potential investors to opinions will decrease. If there are rumours surrounding a stock or other investment and no factual information to check them with, social media users will consume the rumours as a substitute for fact. The mass psychology of the investing community will be more heavily dictated by social media. Looking to the future, traders will rely on social media for trading matters more and more.

That sums up Friday’s highlights! Keep up with all the trading news for the day via Facebook, Twitter, Google+ and LinkedIn. We hope you have a profitable day on the markets.

Just A Minute!

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Events Of The Day: Several today including USD FOMC Member Dudley Speaks @ 13.15, USD Unemployment Claims @ 13.30 & EUR ECB Press Conference @ 13.30 GMT

WHAT WE’RE WATCHING TODAY

Jobless Claims Not Likely To Show Improvement

Initial jobless claims are expected to drop to 335,000 in the last week of February from 348,000 two weeks earlier. Even if claims fall to this extent, however, they will revert to their recent average. Claims fell sharply in 2013 but have since leveled off around the 330,000 mark.

The failure of claims to continue to decline coincides with other indicators showing a slowdown in job creation, most notably the monthly U.S. employment report. The economy likely added just 140,000 jobs in February after a 113,000 gain in January. The February report comes out Friday. Most economists have cited the unusually harsh weather as being a key reason for the slowdown but persistent softness in many economic reports has raised questions about whether the problems actually run deeper. Wall Street will also listen closely to top Federal Reserve officials today for clues on the central bank’s next step. New York Fed President William Dudley will be interviewed by the Wall Street Journal and field questions and Philadelphia Fed President Charles Plosser is lined up to give a speech on how a central bank should exit “unconventional monetary policy.” Both are voting members on the bank’s policy-setting panel that meets in two weeks to discuss its next move. Also due today are reports on factory orders, productivity in the fourth quarter and household wealth. Factory orders likely fell in January and productivity is expected to be revised sharply lower to 1.7% from an original estimate of 3.2%. Slow productivity growth is not regarded as being good for an economy. The Federal Reserve’s quarterly report on household wealth, meanwhile, offers a good snapshot on whether consumers and businesses are reducing or adding to their debt. Consumers have cut debt sharply over the past few years.

Meanwhile, gold was trading in a tight range on Thursday, supported near $1,335 an ounce by the continuing weak U.S. data, with investors waiting for developments in the Ukraine geopolitical crisis and the impending jobs report for further cues.

Euro Trundles Along Ahead Of ECB Meeting

The main focus at today’s ECB Governing Council meeting will be on updated economic forecasts, and in particular whether inflation is likely to remain below target in 2016, thus potentially creating room for further monetary policy action in the coming months. With the Ukraine crisis still to be resolved, the markets have continued to keep an eye on the situation but it has not diverted investors’ attention away from what steps the ECB might take to support the economy and ward off deflation. On Wednesday, International Monetary Fund officials called on the ECB to start buying public and private assets or extend more cheap long-term loans to banks, as well as cutting interest rates to a new record low. Yet the ECB may hesitate to buy government bonds, unlike other major central banks such as the U.S. Federal Reserve and the Bank of Japan that have done so, in part for fear such a step could infringe its ban on financing governments directly. The ECB may explore other policy options, such as cutting rates or stopping “sterilisation” operations that soak up the money it spent buying the bonds of Greece and other countries at the height of the euro zone sovereign debt crisis. Europe’s benchmark stock index closed slightly lower after its biggest rally in eight months. The euro traded at $1.3726 early today but was off a two-month high of $1.38255 hit on Friday. The Stoxx Europe 600 index closed marginally lower at 337.06 in a choppy session, after jumping 2.1% on Tuesday. The move was the largest one-day percentage gain since early July, triggered by easing tensions between Russia and Ukraine.

Google: Mobile Will Create Bigger Advertising Pie

Mobile devices such as smartphones and tablets will hugely expand the number of companies who advertise online and will allow Internet companies to reap more revenue than they have from customers on PCs, according to Google. Small businesses will represent the largest influx of new marketers as they discover the benefits of reaching on-the-go consumers on their mobile devices. The desktop world took the world of advertisers from tens of thousands to a few million and as we go forward, a few million is likely to become tens of millions as mobility becomes more relevant. Google, the world’s No.1 Internet search engine, generates the vast majority of its revenue from advertising. But its ad rates, like those of other Internet companies including Yahoo have been under pressure as more consumers access its online services on small-screened mobile devices, where advertising rates are lower than on PCs. There’s no doubt that mobile is where the future of advertising lies!

That sums up today’s highlights! We hope you have a profitable day on the markets.

Just A Minute!

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary what’s happening in the markets today:

Main Trading Events Of The Day: ECB President Draghi Speaks @ 15.30; BOE Gov Carney Speaks & Inflation Report @10.30 GMT

Earnings Reports: N/A

WHAT WE’RE WATCHING TODAY

Stocks Rise Along With Gold On Yellen’s Comments

U.S. stocks surged with the Dow Jones Industrial Average rising triple digits and the Nasdaq Composite turning positive for the year, as Federal Reserve Chair Janet Yellen reassured Wall Street that the Fed would continue the central bank’s policy of providing monetary stimulus to bolster the economy and expected “a great deal of continuity” with the monetary policies of her predecessor, Ben Bernanke. The House voted to suspend the nation’s borrowing limit until March 2015, without any policy conditions. This was a positive move for the markets because previous debates on U.S. government spending have weighed on global markets in the past, in particular, the budget impasse late last year that resulted in a government shutdown. Asian markets also moved higher after Yellen suggested that there would be no major change in the central bank’s policy, while stronger-than-expected trade data pushed Hong Kong higher. Gold bullion also gained again in trading today following Yellen’s testimony. The Fed is now buying $65 billion in bonds each month to stimulate the economy, down $20 billion from its 2013 pace. Many gold bugs predict inflation will follow the central bank’s accumulation of a $4.1 trillion balance sheet.

ECB’s Draghi Speaks; Will Deflation Be On The Agenda?

ECB President Draghi will deliver the keynote address at a conference in Brussels today. Euro-zone industrial output fell a seasonally adjusted 0.3 percent in December compared with a gain of 1.8 percent in the previous month. All eyes will be on Mario Draghi and any indications about economic measures that the ECB is likely to impose in order to beat deflation. The ECB may soon have to roll out the heavy artillery, in the form of an asset purchase program similar to those in the U.S., U.K. and Japan to fight the specter of deflation. Despite substantial progress over the past year, the euro-area economy remains vulnerable. Spare capacity and weak growth, along with relative price cuts by countries trying to restore competitiveness, is putting severe downward pressure on inflation. Bank of England Governor Mark Carney also releases an inflation report today where he will seek to cement investor expectations that the next increase in interest rates is some time away when he presents an updated version of his forward-guidance policy. Yields suggest Carney has convinced traders that there is enough slack in the economy to maintain the benchmark rate at a record 0.5 percent this year.

Will Apple’s Sapphire-Screen iPhone Be Here Soon?

The latest rumours surfacing about Apple’s plans to manufacture sapphire are the most credible foundation yet for speculation that the iPhone will one day soon boast the most scratch-resistant screen on the planet. It’s not yet clear if the next-generation iPhone would get such a sapphire screen, or if the world will have to wait until 2015, presumably for an “iPhone 6s” model. Some are even claiming that it will be the iWatch that will be the first Apple device to be equipped with the scratch-resistant material. If the latest sapphire tech rumour is true, Apple’s exclusive manufacturing partner, GT Advanced Technologies, is gearing up its Arizona manufacturing facility with enough furnaces to forge as many as 200 million iPhone displays. The price of sapphire will inevitably result in driving up the retail price tag of the iPhone. A price increase could be detrimental to Apple as the iPhone already has a premium price tag. One to watch!

That sums up today’s highlights! Keep checking in for all the latest trading news via Facebook, Twitter & Google+. We hope you have a profitable day on the markets!

Can Mario Draghi Celebrate Euro Victory Yet?

If there’s one man that can celebrate a fresh start in the new year, that certainly seems to be Mario Draghi.

The European Central Bank president had taken a bold stance during a London speech in July 2012 when he declared that he would do “whatever it takes” to save the Euro. Despite disbelief and opposition, even from within Euro-zone member states such as, most notably, Germany, Draghi seems to have proven himself good for his word.

The crisis that brought the purpose of the euro into questions and had many questioning its survival, appears to have been dissipated. Draghi has been praised even by some of his harshest critics, such as Nobel-laureate Paul Krugman and economist Nouriel Roubini for revitalizing the euro.

Krugman, in fact, admitted that “Draghi did the most of it,” and said it was “pretty clear that the ECB has been decisive in alleviating the European situation.”

So where can positive results be seen? Ireland put bonds for sale this week for the time after exiting the IMF’s support programme of three years. Portugal and maybe even Greece are expected to be able to follow suit soon enough. In Spain, moreover, yields on 10-year government debt fell the most since 2009. The Stoxx Euro 600 Index climbed to its highest peak in nearly five years, while the euro advanced the most against the dollar in nearly three years.

Reduced budget cuts and increased retail sales data this week seem to signal the beginning of the end for the longest recession in the short history of the euro. And just to prove wrong anyone who predicted that the euro would spit up now, Latvia joined the currency moving it from a 17- to an 18-nation shared currency.

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