Market Blog > September 2016 > Market Review

Market Review

Governor Haruhiko Kuroda said that, the pace at which the Bank of Japan buys bonds will depend on what is needed to achieve target but there are no big increases or decreases for now.  Japan’s index of leading economic indicators rose in the previous month. Cabinet Office in a report said that, Japan’s index, of leading economic indicators increased to a seasonally adjusted 100.0, from 100.0 last month.

ECB President Mario Draghi said that, Economic imbalances within the euro zone risk destabilising the currency bloc, stressing the responsibility for each government to help boost growth while respecting EU rules. German business confidence improved much more than forecast. Germany’s Ifo said its Business Climate Index increased to a seasonally adjusted 109.5 this month, from106.4.

U.S. new home sales fell less than forecast in August. The U.S. Commerce Department said new home sales decreased to 7.6% to a seasonally adjusted 609,000 units in the previous month. Fed Governor Daniel Tarullo said that, the Federal Reserve will seek significantly more capital from the largest U.S. banks and give some relief to smaller banks, on the annual 'stress test.'

Currencies: The dollar remained lower against the other major currencies on Monday. The EURUSD traded higher between $1.1221 and $1.1279 The GBPUSD traded higher between $1.2917 and $1.2987. The USDJPY traded lower between ¥101.09 and ¥100.25

Crude oil: Oil prices rose about 3 percent on Monday.  On the ICE future Exchange, North Sea Brent crude traded higher between $46.31 and $48.24 On the New York Mercantile Exchange, U.S. light crude oil traded higher between $44.45 and $46.20

Gold: Gold prices held near a two-week high in North American on Monday as investors' attention turned from central banks to American politics ahead of the first U.S. presidential debate. On the COMEX division of the New York Mercantile Exchange, gold traded lower in a range between $1346.05 and $1336.50 an ounce.

Indices: Shares in Asia fell on Monday. Moreover, Japan stocks fell, as losses in the Mining, Insurance and Transport sectors led shares lower.  At the close in Tokyo, the Nikkei 225 declined 1.25%. At the close in China, the Hang Seng decreased 1.56% change.

Germany and U.K. stocks fell, as losses in the Insurance, Media and Pharmaceuticals & Healthcare sectors led shares lower.  Respectively, for the U.K. stocks, as losses in the Food & Drug Retailers and General Retailers sectors led shares lower.  At the close in Frankfurt the DAX tumbled 2.19%. At the close in Paris, the CAC40 decreased 1.80%. At the close in Madrid, the IBEX 35 tumbled 1.27%. Finally, at the close in London the FTSE100 decreased 1.32%.

Wall Street traded lower on Monday. At the close, the Dow Jones industrial average lower 0.86%. The S&P 500 tumbled 0.83% and the NASDAQ composite declined 0.87%.

Economic Calendar
Tuesday 27th September 2016: 

Time

Currency

Events

Forecast

Previous

6:00am

EUR

German Import Prices m/m

-0.10%

0.10%

8:00am

EUR

M3 Money Supply y/y

4.90%

4.80%

8:00am

EUR

Private Loans y/y

1.90%

1.80%

10:00am

GBP

CBI Realized Sales

8

9

1:45pm

USD

Flash Services PMI

51.1

51

2:00pm

USD

CB Consumer Confidence

98.6

101.1

3:15pm

USD

FOMC Member Fischer Speaks

 

 

Posted: 9/27/2016 6:43:40 AM by Global Administrator | with 0 comments


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