Market Blog > November 2016 > Market Review

Market Review

A Reuters poll showed that Activity in China's manufacturing sector there was modest expansionary trend, as industrial firms continued to benefit from higher producer prices and a recovery in demand. Also, according to credible source, China's trade deficit in services fell to $20.9 billion in October from $23.3 billion last month. Moreover, the Organisation for Economic Cooperation and Development in a report said that the Bank of Japan should maintain monetary easing until inflation is above its 2 percent target.

The head of the European Central Bank said that, greatest risk facing the euro zone's economy is the stagnant recovery, before an important policy decision next week, the ECB's focus on supporting growth. British think-tank in a report said that as latest legal attempt to challenge the Brexit process, it planned to take legal action over whether the government can take Britain out of the single market.

Currencies: The dollar was little changed against the other major currencies on Monday. The EURUSD traded higher between $1.0564 and $1.0685 The GBPUSD traded lower between $1.2532 and $1.2386. The USDJPY traded lower between ¥112.97 and ¥112.36

Crude oil: Oil prices rose on Monday after the optimism of the Iraq’s oil minister that Wednesday’s crunch OPEC meeting will yield an agreement on output cuts. On the ICE future Exchange, North Sea Brent crude traded higher between $47.30 and $49.77. On the New York Mercantile Exchange, U.S. light crude oil traded higher between $45.16 and $47.63.

Gold: The price of Gold on Monday rose. On the COMEX division of the New York Mercantile Exchange, gold traded higher in a range between $1182.00 and $1197.00 an ounce.

Indices:  Asian shares were narrowly-mixed on Monday. Moreover, Japan stocks fell, as losses in the Mining, Glass and Precision Instruments sectors led shares lower.  At the close in Tokyo, the Nikkei 225 declined 0.13%. At the close in China, the Hang Seng rose 0.47% change.

Germany and U.K. stocks fell, as losses in the Food & Beverages, Media and Chemicals sectors led shares lower. Respectively, for the U.K. stocks, as losses in the Industrial Metals & Mining, Technology Hardware & Equipment and Electronic & Electrical Equipment sectors led shares lower.  At the close in Frankfurt the DAX decreased 1.09%. At the close in Paris, the CAC40 decreased 0.88%. At the close in Madrid, the IBEX 35 fell 0.64%. Finally, at the close in London the FTSE100 decreased 0.60%.

Wall Street traded lower on Monday. At the close, the Dow Jones industrial average lower 0.31%. The S&P 500 decreased 0.54% and the NASDAQ composite declined 0.59%.

Tuesday 29th November 2016:  

Time

Currency

Events

Forecast

Previous

1:00am

CAD

BOC Gov Poloz Speaks

 

 

All Day

EUR

German Prelim CPI m/m

0.10%

0.20%

8:00am

EUR

Spanish Flash CPI y/y

0.50%

0.70%

9:30am

GBP

Net Lending to Individuals m/m

4.8B

4.7B

1:30pm

CAD

Current Account

-16.4B

-19.9B

1:30pm

USD

Prelim GDP q/q

3.00%

2.90%

2:15pm

USD

FOMC Member Dudley Speaks

 

 

3:00pm

USD

CB Consumer Confidence

101.3

98.6

5:40pm

USD

FOMC Member Powell Speaks

 

 

Posted: 11/29/2016 8:02:13 AM by Global Administrator | with 0 comments


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