Dec. 9: market news

December 8, 2013

Asian stock markets strengthened on Monday, supported by a combination of an upbeat China trade balance, firm US last week’s close on better-than-expected NFP and a weaker yen. Nikkei 225 rose by more than 2% in the Asian trade, while the MSCI's Asia-Pacific (minus Japan) gained 0.95%.

Both Australian and New Zealand dollar gapped higher today as China November trade balance showed a huge $33.8 billion surplus (vs. $21.2 billion expected) on Sunday. China's exports came in well above forecast in November, rising by 12.7% from a year earlier. Today’s figures show China November CPI came at +3.0% (forecast: +3.1%), while PPI came at -1.4% (forecast: -1.5%). However, AUD/USD growth attempts were capped at $0.9130. The pair reversed from here and closed the gap, weakening to $0.9090. NZD/USD weakened to $0.8290 after having faced resistance at $0.8320.

Japanese yen came under a renewed pressure as the markets were disappointed by Japan’s economic growth. Final Q3 GDP growth was revised down from 0.5% to 0.3% quarter-to-quarter and from 1.9% to 1.1% year-on-year. The lower GDP was due to lower private inventory investment and lower capital spending. This bad news support Japanese stocks as increase chances for an additional BOJ easing.  USD/JPY opened with a gap up at 102.90 and is now swinging in the 102.88/103.20 range. EUR/JPY has hit a 5-year high of 141.55. Japan PM Abe will deliver a speech today at 9:00 GMT.

EUR/USD has hit a fresh 1.5-month high of $1.3720 on Monday, while GBP/USD is trading sideways in the $1.6355/25 range. USD/CHF is trading around a 1.5-month low of $0.8909. USD/CAD is consolidating in the $1.0640/60 range.

More news and analytics on FX BAZOOKA

Publication source
FBS information  FBS reviews

September 29, 2016
OPEC blinks
Yesterday decision by OPEC to restrict oil supply has pushed the price of crude higher by some 5%. The move took the markets by surprise, with the divisions between Iran (who are still enjoying their return to global markets)...
September 29, 2016
Gold weighed down by US data
The gold price is down for a second straight day today as investors await a raft of data from the US this week which may decide the question of an interest rate hike...
September 29, 2016
Informal OPEC meeting seizes limelight
Global stocks were chaotic on Tuesday with most equities vibrating between losses and gains as the mixture of anticipation ahead of OPEC - informal meeting and ongoing discussions over the results of the first presidential debate created explosive levels of volatility...

FBS Rating
HotForex Rating
FXTM Rating
FxPro Rating
HYCM Rating
Tickmill Rating

Binary Brokerz Rating
OptionFair Rating
IQ Option Rating
OptionsXO Rating
OptionBit Rating
Empire Option Rating