Market Blog > September 2016 > Market Review

Market Review

Governor Haruhiko Kuroda said that more easing options cannot be ruled out to achieve the target 2% inflation, arguing the benefits outweighed the cost of such monetary policies. Japan’s average cash earnings remained constant in the last quarter. Japanese Ministry of Health in a report, said that Japan’s Average Cash Earnings remained constant at a seasonally adjusted 1.4 percent from 1.4 percent in the last quarter. China's services sector rose in August as new orders increased, employment stabilized, and business expectations rose to a six-month high.

Retail sales in the euro zone increased unexpectedly last month. Eurostat said that, Sales rose to 1.1 percent, from -0.1 percent in the previous month. Also, Euro zone service sector activity tumbled more than forecast in the last quarter. In a report, Euro Zone Services (PMI) fell to 52.8, from 53.1 in the last quarter.

U.S. President Barack Obama said that the United States had to move on the issue of tax avoidance with other countries, as some U.S. allies were "racing to the bottom" with their tax policies.

Currencies: The U.S. dollar fell against the other major currencies on Monday. The EURUSD traded lower between $1.1183 and $1.1240 The GBPUSD traded higher between $1.3289 and $1.3375. The USDJPY traded lower between ¥104.13 and ¥103.15

Crude oil: Oil prices breaks below $46 per barrel with slight gains, after an announcement from Saudi Arabian and Russian officials failed to live up to market expectations.  On the ICE future Exchange, North Sea Brent crude traded higher between $46.41 and $49.38 On the New York Mercantile Exchange, U.S. light crude oil traded higher between $44.07 and $46.56

Gold: Gold prices held near a one-week high in North American on Monday. On the COMEX division of the New York Mercantile Exchange, gold traded higher in a range between $1325.55 and $1332.15 an ounce.

Indices: Japan stocks rose, as gains in the Mining, Gas & Water and Power sectors led shares higher. At the close in Tokyo, the Nikkei 225 increased 0.66%. At the close in China, the Hang Seng rose 1.65% change.

Germany stocks were mixed, as gains in the Basic Resources and Utilities sectors led shares higher while in the Media and Financial Services sectors led shares lower. Moreover, U.K. stocks fell, as losses in the Technology Hardware & Equipment and Household Goods & Home Construction sectors led shares lower.  At the close in Frankfurt the DAX tumbled 0.11%. At the close in Paris, the CAC40 decreased 0.02%. At the close in Madrid, the IBEX 35 gained 0.50%. Finally, at the close in London the FTSE100 decreased 0.22%.

Wall Street traded with slight gains on Monday. At the close, the Dow Jones industrial average higher 0.39%. The S&P 500 rose 0.42% and the NASDAQ composite rose 0.43%.

Economic Calendar
Tuesday 06th September 2016:
 

Time

Currency

Events

Forecast

Previous

5:45am

CHF

GDP q/q

0.20%

0.10%

6:00am

EUR

German Factory Orders m/m

0.50%

-0.40%

7:15am

CHF

CPI m/m

-0.10%

-0.40%

8:10am

EUR

Retail PMI

 

48.9

2:00pm

USD

ISM Non-Manufacturing PMI

55.4

55.5

2:00pm

USD

IBD/TIPP Economic Optimism

48.6

48.4

4:15pm

CHF

SNB Chairman Jordan Speaks

 

 

Posted: 9/6/2016 7:44:25 AM by Global Administrator | with 0 comments


Comments
Blog post currently doesn't have any comments.
 Security code

My favorite websites

Recent posts

Title

Market Updates