Market Blog > October 2016 > Market Review

Market Review

China has uncovered over 1 trillion-yuan worth of illegal transactions by underground banks this year, the official Financial News reported, citing a senior official at the foreign exchange regulator.

China Construction Bank Corp. said it had approached more than 50 companies that could convert debt to equity as part of the nation’s efforts to tame an explosion in corporate leverage that poses risks for financial stability.

U.K retail sales posted a worse than expected reading in September with month on month numbers showing a flat reading.

European Central Bank  produced a monetary policy announcement that was an exact reproduction of its previous statement in September with the exception of the date, president Mario Draghi explained that the ECB would wait for updated economic forecasts in December to make a decision and said that the euro area central bank had not discussed either tapering the size of its current €80 billion monthly asset purchase program (APP) or extending the horizon of the purchases, known as quantitative easing (QE).

U.S in Philadelphia manufactures region slowed slightly in October, but the report indicated that regional manufacturing conditions continued to improve. Came in at 9.7 this month, down from 12.8 in September.

Unemployment assistance in the U.S. last week rose more than expected last week, though they remained in territory consistent with a firming labor market

Currencies:

The EURUSD traded between 1.0918 and 1.1038 area. 
The EURGBP traded between 0.8912 and 0.9025 area.
The GBPUSD traded between 1.2212 and 1.2297 area.
The USDJPY traded between 103.43 and 104.09 area.

Crude oil: Traded between $ 50.47 and $ 51.79 area.
Gold: Traded between $ 1265.16 and $ 1274.10 area.

Indices:

Asian Indices

Moved %

Euro Indices

 Moved %

U.S Indices

 Moved %

Nikkei

+1.62%

Euro stoxx50

+0.82%

DJIA

-0.12%

Hang Seng

+0.32%

DAX

+0.59%

S&P 500

-0.02%

China A50

          +0.18%

CAC 40

+0.64%

NASDAQ

          +0.04%




Economic Calendar Friday 21/10/2016

Time

Currency

Event

Forecast

Previous

 Tentative

JPY

BOJ Gov Kuroda Speaks

 

 

8:30am

GBP

Public Sector Net Borrowing

8.6B

10.1B

Day 2

EUR

EU Economic Summit

 

 

12:30pm

CAD

Core CPI m/m

0.20%

0.00%

12:30pm

CAD

Core Retail Sales m/m

0.40%

-0.10%

1:00pm

EUR

Belgian NBB Business Climate

-1.5

-2.2

Posted: 10/21/2016 6:50:19 AM by Global Administrator | with 0 comments


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