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Market Review

A former central bank policymaker in a report said that Japan's inflation will turn positive more quickly, if the yen remains at its current level for a few months. Senior central bank officials told Reuters that after the U.S. presidential election the Bank of Japan is encouraged by stock market gains because this could help improve sentiment and give the economy a boost.

The unemployment rate in the U.K. decreased more than forecast last month. National Statistics in a report, said that U.K. Unemployment Rate decreased to a seasonally adjusted 4.8 percent, from 4.9 percent in the previous month. Also, Average hourly earnings remained constant last month. In a report, Average hourly earnings + bonus remained constant at a seasonally adjusted annual rate of 2.3 percent from 2.3 percent in the previous month.

U.S. industrial production remained constant last month. The Federal Reserve in a report, said that industrial production remained constant at 0.0 percent from -0.2 percent in the previous month. U.S. core producer price inflation fell more than expected last month. U.S Bureau of Labor Statistics and Department of Labor in a report, said that (PPI) decreased to a seasonally adjusted -0.2 percent, from 0.2 percent last month.

Currencies: The dollar jumped to a near 14-year high against the other major currencies on Wednesday. The EURUSD traded lower between $1.0840 and $1.0666 The GBPUSD traded lower between $1.2502 and $1.2411. The USDJPY traded lower between ¥109.76 and ¥108.80

Crude oil: U.S. crude stocks unexpectedly increased in the latest week according official data on Wednesday. On the ICE future Exchange, North Sea Brent crude traded lower between $47.54 and $46.27. On the New York Mercantile Exchange, U.S. light crude oil traded lower between $46.38 and $45.05

Gold: The price of Gold on Wednesday fell. On the COMEX division of the New York Mercantile Exchange, gold traded lower in a range between $1232.95 and $1221.00 an ounce.

Indices:  Asian shares were narrowly-mixed on Wednesday. Moreover, Japan stocks rose, as gains in the Banking, Shipbuilding and Paper & Pulp sectors led shares higher.  At the close in Tokyo, the Nikkei 225 added 1.10%. At the close in China, the Hang Seng decreased 0.19% change.

Germany and U.K. stocks fell, as losses in the Construction, Chemicals and Basic Resources sectors led shares lower.  Respectively, for the U.K. stocks, as losses in the Construction & Materials, Food & Drug Retailers sectors led shares lower.  At the close in Frankfurt the DAX declined 0.66%. At the close in Paris, the CAC40 decreased 0.78%. At the close in Madrid, the IBEX 35 decreased 0.56%. Finally, at the close in London the FTSE100 decreased 0.63%.

U.S. Stocks were mixed on Wednesday.  At the close, the Dow Jones industrial average lower 0.30%. The S&P 500 fell 0.22% and the NASDAQ increased 0.29%.
 
Economic Calendar
Thursday 17th November 2016: 
 

Time

Currency

Events

Forecast

Previous

 9:30am

GBP

Retail Sales m/m

0.50%

0.00%

10:00am

EUR

Final CPI y/y

0.40%

0.40%

12:30pm

EUR

ECB Monetary Policy Meeting Accounts

 

 

1:30pm 

USD

Building Permits

1.19M

1.23M

1:30pm 

USD

CPI m/m

0.40%

0.30%

1:30pm 

USD

Core CPI m/m

0.20%

0.10%

 1:30pm 

USD

Philly Fed Manufacturing Index

8.1

9.7

1:30pm  

USD

Unemployment Claims

257K

254K

3:00pm

USD

Fed Chair Yellen Testifies

 

 

5:30pm

USD

FOMC Member Brainard Speaks

 

 

Posted: 11/17/2016 7:14:53 AM by Global Administrator | with 0 comments


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