Market Blog > October 2016 > Market Review

Market Review

The National Bureau of China stated that China’s trade balance fell unexpectedly from 52.05B to 41.99B the previous month. China’s September exports declined 10% from a year earlier which was far worse than it was anticipated.  METI indicated that Japan’s tertiary industry activity did not change and remained the same at 0.0% from the previous month as it was expected to fall -0.2%.

The European Central Bank stated that it would keep its QE policy steady in October. The Federal Statistical Office Germany stated that the German Consumer Price Inflation has risen to a seasonally adjusted 0.1%, from 0.1% in the previous month.

The US Department of Labor indicated in a report that the amount of individuals filing for unemployment assistance did not change from the previous week remaining steady around 246,000. According to the US Bureau of Labor Statistics the import prices increased by seasonally adjusted 0.1% and export prices also went up by a seasonally adjusted 0.3% from the previous month.

Currencies: The dollar pushed lower against the other major currencies on Thursday. The EURUSD traded higher between $ 1.0985 and $ 1.1056. The GBPUSD traded higher between $ 1.2134 and $ 1.2272. The USDJPY traded lower between ¥ 104.63 and ¥ 103.34.

Crude oil: The Energy Information Administration stated that the U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 4.900M, from -2.976M in the previous month. On the ICE future Exchange, North Sea Brent crude traded higher between $ 50.92 and $ 52.15. On the New York Mercantile Exchange, U.S. light crude oil traded higher between $ 49.37 and $ 50.59. 

Gold: The price of Gold went up on Thursday after the release of surprisingly weak Chinese Trade data that raised concerns about their economy. On the COMEX division of the New York Mercantile Exchange, gold traded higher in a narrow range between $1253.29 and $1262.31 an ounce.

Indices: Asian stocks were mostly down on Thursday as China’s September trade data showed a sharp decline in exports. At the close in Tokyo, the Nikkei 225 declined 0.39%. At the close in China, Shanghai Composite went up 0.09%.

European Stocks went down on Thursday as a result of the FED’s latest meeting relating to the rate hike on December. At the close in Frankfurt the DAX declined 1.04%. At the close in Paris, the CAC40 fell 1.06%. At the close in Madrid, the IBEX 35 went down 0.90%. Finally, at the close in London the FTSE100 declined 0.66%.

US stocks were down on Thursday as investors worried about the prospects of an interest rate hike and China's weak economic data. At the close, the Dow Jones industrial average declined 0.25%. The S&P 500 went down 0.26% and the NASDAQ composite declined 0.49%.

Economic Calendar
Friday 14th October 2016:

Time

Currency

Events

Forecast

Previous

1:30am

CNY

CPI y/y

1.60%

1.30%

1:30am

CNY

PPI y/y

-0.40%

-0.80%

8:30am

GBP

BOE Credit Conditions Survey

 

 

11:45am

GBP

MPC Member Forbes Speaks

 

 

12:30pm

USD

Core Retail Sales m/m

0.40%

-0.10%

12:30pm

USD

PPI m/m

0.20%

0.00%

12:30pm

USD

Retail Sales m/m

0.60%

-0.30%

12:30pm

USD

Core PPI m/m

0.10%

0.10%

12:30pm

USD

FOMC Member Rosengren Speaks

 

 

2:00pm

USD

Prelim UoM Consumer Sentiment

92.1

91.2

5:30pm

USD

Fed Chair Yellen Speaks

 

 

Posted: 10/14/2016 6:45:31 AM by Global Administrator | with 0 comments


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