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Market Review

Japanese manufacturing activity in October rose. A preliminary survey showed (PMI) increased to a seasonally adjusted 51.7 from 50.4 last month. Japan's exports fell for a 12th straight month in September from a year earlier. According to credible sources, Japan's exports decreased 6.9% from 9.6% in the previous month.

The euro zone’s manufacturing PMI increased more than forecast in October. Research group Markit in a report, said that (PMI) increased to a seasonally adjusted 53.3 from 52.6 in the previous month. Also, Euro zone service sector activity increased unexpectedly in the last quarter.  Markit said that Euro Zone Services in a report, (PMI) increased to 53.5, from 52.2 in the last quarter. More Specific, Germany’s manufacturing PMI increased more than forecast last month. In a report, (PMI) rose to a seasonally adjusted 55.1, from 54.3 in the previous month. Moreover, U.K. CBI industrial trends orders fell more than forecast last month. Confederation of British Industry in a report, said that CBI industrial trends orders decreased to -17 from -5 last month.

US manufacturing sector rose more than expected on September. In a report, said that its flash manufacturing purchasing managers’ index (PMI) increased to 53.2 from 51.5 in the previous month.

Currencies: The dollar held steady near eight-month highs against the other major currencies on Monday. The EURUSD traded lower between $1.0900 and $1.0860 The GBPUSD traded lower between $1.2249 and $1.2186. The USDJPY traded higher between ¥103.72 and ¥104.32

Crude oil: U.S oil breaks below $51 per barrel after several fluctuations on price on Monday. On the ICE future Exchange, North Sea Brent crude traded lower between $52.00 and $50.51 On the New York Mercantile Exchange, U.S. light crude oil traded lower between $50.98 and $49.64

Gold: The price of Gold on Monday slightly decreased, although a broadly stronger U.S. dollar continued to weigh on the precious metal. On the COMEX division of the New York Mercantile Exchange, gold traded lower in a range between $1272.55 and $1260.50 an ounce.

Indices: Shares in Asia rose on Monday. Moreover, Japan stocks rose, as gains in the Fishery, Transportation Equipment and Warehousing sectors led shares higher.  At the close in Tokyo, the Nikkei 225 added 0.29%. At the close in China, the Hang Seng increased 0.98% change.

Shares in Euro were mixed on Monday. More specific, for Germany stocks, as gains in the Insurance, Telecoms and Transportation & Logistics sectors led shares higher while losses in the Technology, Utilities and Software sectors led shares lower.  Respectively, for the U.K. stocks, as losses in the Gas, Water & Multiutilities, Pharmaceuticals & Biotech and Forestry & Paper sectors led shares lower.  At the close in Frankfurt the DAX rose 0.47%. At the close in Paris, the CAC40 added 0.36%. At the close in Madrid, the IBEX 35 increased 1.27%. Finally, at the close in London the FTSE100 decreased 0.49%.

Wall Street traded higher on Monday.  At the close, the Dow Jones industrial average higher 0.43%. The S&P 500 gained 0.48% and the NASDAQ composite rose 0.96%.

Economic Calendar
Tuesday 25th October 2016:
 

Time

Currency

Events

Forecast

Previous

 8:00am

EUR

German Ifo Business Climate

109.6

109.5

2:00pm

USD

CB Consumer Confidence

101.5

104.1

2:35pm

GBP

BOE Gov Carney Speaks

 

 

3:30pm

EUR

ECB President Draghi Speaks

 

 

Posted: 10/25/2016 7:01:07 AM by Global Administrator | with 0 comments


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