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Market Review

China unveiled guidelines to reduce rising corporate debt levels. Some of the government's measures according to guidelines issued by State Council. Encouraging mergers and acquisitions, bankruptcies, debt-to-equity swaps and debt securitization. Bank of Japan Governor Haruhiko Kuroda in a report said that, the central bank may push back the forecast date for which it plans to achieve its 2 percent inflation target.

The Sentix index of investor confidence in the euro zone increased more than forecast last month. Sentix GmbH in a report, said that Sentix Euro Zone Investor Confidence increased to a seasonally adjusted 8.5, from 5.6 in the previous month. Germany’s trade balance rose unexpectedly last month. Destatis in a report, said that Germany’s Trade Balance increased to 22.2B from 19.4B last month. Also, German exports rebounded more than forecast in August, recording their biggest increase in more than six years.

Currencies: The dollar held steady near two months highs against the other major currencies on Monday. The EURUSD traded lower between $1.1204 and $1.1103 The GBPUSD traded lower between $1.2245 and $1.1246. The USDJPY traded higher between ¥102.81 and ¥103.79

Crude oil: Oil prices rose near 3 percent on Monday, with Brent futures rising near 12-months highs after Russian President Vladimir Putin said his country is prepared to join an oil-output deal which may include a freeze or cut to output.  On the ICE future Exchange, North Sea Brent crude traded higher between $51.30 and $53.73 On the New York Mercantile Exchange, U.S. light crude oil traded higher between $49.15 and $51.59

Gold: The price of Gold on Monday rose in North America as traders returned to the market to seek cheap valuations. On the COMEX division of the New York Mercantile Exchange, gold traded higher in a range between $1258.50 and $1266.75 an ounce.

Indices: Shares in Asia remained lower on Monday in thin holiday trade as China markets re-opened after a week-long break.  At the close in Tokyo, the Nikkei 225 decreased 0.23%. At the close in China, the Hang Seng declined 0.42% change.

Germany and U.K. stocks rose, as gains in the Basic Resources, Pharmaceuticals & Healthcare and Media sectors led shares higher.  Respectively, for the U.K. stocks, as gains in the Industrial Metals & Mining, Oil & Gas Producers and Mining sectors led shares higher.  At the close in Frankfurt the DAX rose 1.27%. At the close in Paris, the CAC40 added 1.06%. At the close in Madrid, the IBEX 35 increased 0.90%. Finally, at the close in London the FTSE100 increased 0.75%.

Wall Street traded higher on Monday, as oil prices surged to a one-year high, lifting shares of energy companies.  At the close, the Dow Jones industrial average higher 0.46%. The S&P 500 gained 0.44% and the NASDAQ composite rose 0.67%.

Economic Calendar
Tuesday 11th October 2016: 

Time

Currency

Events

Forecast

Previous

9:00am

EUR

German ZEW Economic Sentiment

4.2

0.5

9:00am

EUR

ZEW Economic Sentiment

6.3

5.4

9:00am

GBP

MPC Member Saunders Speaks

 

 

10:00am

USD

NFIB Small Business Index

95.2

94.4

2:00pm

USD

Labor Market Conditions Index m/m

 

-0.7

Posted: 10/11/2016 7:24:30 AM by Global Administrator | with 0 comments


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