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Market Review

China's consumer price inflation fell, although there is an encouraging moderation in producer price deflation added to growing evidence of a steadying economy.

The U.K.’s trade balance increased less than forecast last month. National Statistics in a report, said that U.K. trade balance increased to a seasonally adjusted -11.76 billion from -12.92 billion last month. Germany’s trade balance fell more than forecast in the previous month. Destatis said that Germany’s in a report, Trade Balance decreased to 19.4 billion, from 21.4 billion last month. Also, a professional body for accountants said that, British firms are likely to cut investment due to the Brexit vote, and the government must find solutions and show how it will move forward with leaving the European Union.

U.S. wholesale inventories remained constant in the last quarter. US Census Bureau in a report, said that U.S. Wholesale Inventories remained constant at a seasonally adjusted annual rate of 0.0 percent, from 0.3 percent in the preceding quarter.  U.S. consumer credit increased more than forecast last month. Federal Reserve said that U.S. Consumer Credit increased to a seasonally adjusted 17.71B, from 14.53B last month. The number of Americans filing for unemployment benefits declined more than expected, pointing labor market strength even as the pace of job growth is slowing.

Currencies: The U.S. dollar fell against the other major currencies on Friday. The EURUSD traded lower between $1.1285 and $1.1199 The GBPUSD traded lower between $1.3336 and $1.3240. The USDJPY traded higher between ¥101.97 and ¥103.06

Crude oil: Oil prices fell near 2 percent on Friday, as traders booked profits in the previous session when government data showed reduced inventories more than forecast.  On the ICE future Exchange, North Sea Brent crude traded lower between $49.72 and $47.95 On the New York Mercantile Exchange, U.S. light crude oil traded lower between $47.36 and $45.84

Gold: Gold prices fell on Friday, but losses were expected to remain limited as a globally weaker U.S. dollar continued to lend support to the precious metal. On the COMEX division of the New York Mercantile Exchange, gold traded lower in a range between $1343.55 and $1332.25 an ounce.

Indices: Asian shares were narrowly-mixed on Friday. Moreover, Japan stocks rose on Friday, as gains in the Mining and Shipbuilding sectors led shares higher. At the close in Tokyo, the Nikkei 225 increased 0.04%. At the close in China, the Hang Seng rose 0.75% change.

Germany and U.K. stocks fell, as losses in the Financial Services and Transportation & Logistics sectors led shares lower. Respectively, for the U.K. stocks, as losses in the Food & Drug Retailers and Household Goods & Home Construction sectors led shares lower.  At the close in Frankfurt the DAX tumbled 0.95%. At the close in Paris, the CAC40 decreased 1.12%. At the close in Madrid, the IBEX 35 declined 0.83%. Finally, at the close in London the FTSE100 decreased 1.19%.

Wall Street traded lower on Friday. At the close, the Dow Jones industrial average lower 1.86%. The S&P 500 tumbled 2.21% and the NASDAQ composite decreased 2.29%.

Economic Calendar
Monday 12th September 2016: 

Time

Currency

Events

Forecast

Previous

6:00am

JPY

Prelim Machine Tool Orders y/y

 

-19.70%

8:00am

EUR

Italian Quarterly Unemployment Rate

11.50%

11.60%

5:00pm

USD

FOMC Member Brainard Speaks

 

 

5:01pm

USD

10-y Bond Auction

 

1.50|2.4

11:50pm

JPY

BSI Manufacturing Index

-6.5

-11.1

 
Posted: 9/12/2016 7:01:54 AM by Global Administrator | with 0 comments


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