Market Blog > September 2016 > Market Review

Market Review

China's forex regulator said that it will crack down on fake overseas mergers and acquisitions used by some local firms to facilitate to move assets out of the country.

Euro zone consumer confidence fell last month. European Commission in a report, said that Euro zone consumer confidence decreased to an annual rate of -8.2, from -8.5 in the previous month. Also, U.K. manufacturing rose and orders flowed in at an above-average rate, showing signs that the economy has avoided an immediate hit from June's Brexit vote. German real wages rose by 2.3% in the second quarter while consumer prices increased by 0.1%. which has become the main driver of growth in Europe's biggest economy. European Central Bank President Mario Draghi, said that Financial services are shifting away from banks in the euro zone to the so-called 'shadow banking' sector, requiring fresh rules to mitigate risk.

According to credible sources, the number of people who filed for unemployment assistance in the U.S. last week decreased more than expected last week. Moreover, U.S. existing home sales fell more than forecast. The National Association of Realtors said that, Existing home sales fell 0.9% in August from July to 5.33 mn units. The U.S. house price index rose unexpectedly last month. Office of Federal Housing Enterprise Oversight in a report, said that U.S. HPI rose to a seasonally adjusted 0.5 percent from 0.3 percent in the previous month.

Currencies: The dollar fell against the other major currencies on Thursday. The EURUSD traded higher between $1.1185 and $1.1257 The GBPUSD traded higher between $1.3028 and $1.3121. The USDJPY traded higher between ¥100.10 and ¥100.94

Crude oil: Oil prices rose near 2 percent on Thursday following an impressive three-day rally.  On the ICE future Exchange, North Sea Brent crude traded higher between $46.99 and $47.83 On the New York Mercantile Exchange, U.S. light crude oil traded higher between $45.53 and $46.52

Gold: Gold prices held near a two-week high in North American on Thursday. On the COMEX division of the New York Mercantile Exchange, gold traded higher in a range between $1335.25 and $1347.65 an ounce.

Indices: Shares in Asia rose on Thursday as the Federal Reserve kept interest rates steady on Wednesday as expected. At the close in Tokyo, the Nikkei 225 gained 1.91%. At the close in China, the Hang Seng higher 0.38% change.

Germany and U.K. stocks increased, as gains in the Telecoms, Utilities and Construction sectors led shares higher.  Respectively, for the U.K. stocks, as gains in the Industrial Metals & Mining, Mining and Forestry & Paper sectors led shares higher.  At the close in Frankfurt the DAX increased 2.28%. At the close in Paris, the CAC40 added 2.27%. At the close in Madrid, the IBEX 35 increased 2.01%. Finally, at the close in London the FTSE100 gained 1.12%.

Wall Street traded higher on Thursday. At the close, the Dow Jones industrial average higher 0.57%. The S&P 500 increased 0.65% and the NASDAQ composite gained 0.84%.

Economic Calendar
Friday 23th September 2016: 

Time

Currency

Events

Forecast

Previous

 7:00am

EUR

French Flash Manufacturing PMI

48.4

48.3

 7:00am

EUR

French Flash Services PMI

52

52.3

7:30am

EUR

German Flash Manufacturing PMI

53.2

53.6

7:30am

EUR

German Flash Services PMI

52.2

51.7

8:00am

EUR

Flash Manufacturing PMI

51.5

51.7

8:00am

EUR

Flash Services PMI

52.8

52.8

Posted: 9/23/2016 7:20:48 AM by Global Administrator | with 0 comments


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