New quarter resilience
1 October, 2015
There was a certain resilience evident in overnight markets, with the release of not so exciting data in China and Japan failing to deter gains in equities and also risk currencies. There is something about the Aussie that means it does not want to stay below the 0.70 level on a sustained basis, with a reasonable bounce seen overnight up to the 0.7050 level. The key Japan Tankan index was mixed, with the large manufacturing series slightly weaker at 12 (expected 13) with non-manuf rising by greater than expected 25 (expected 20). USDJPY weakened back above the 120 level, so for now at least a sustained move below this level remains elusive. The interest one to watch remains cable, which continues to break lower towards the 1.50 level. The non-manuf PMI data in China was broadly in line at 49.8.
For today, we have a raft of final PMI data in Europe, together with the initial release of manufacturing PMI in the UK at 08:30 GMT. It’s then about the weekly claims data and the ISM manufacturing series in the US at 14:00 GMT. After the gyrations seen earlier in the week, we’ve at least seen some stabilisation in the in equities and emerging market FX, which has also fed back into the the weaker yen and stronger Aussie mentioned above. We’ve seen one of the worst quarters for emerging market FX since the late 90s so there is naturally some feeling that the sector is more ripe for some correction.
Source link
Related materials
Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for...
British people need to fly less, drive electric cars, eat little meat and turn their home thermostats down to 19 degrees Celsius (66 Fahrenheit) in order to rein...
Chinese stocks have taken investors on a ride this year. Shanghai and Shenzhen have been the best performing global markets this year, with the Shanghai...
Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...
President Donald Trump told OPEC on Thursday that its members should start pumping more oil, marking his second warning to the producer group this year...
The Turkish lira dropped by as much as 5 percent against the dollar on Thursday morning, as the country gears up for elections this weekend. The greenback...
Prime Minister Theresa May won't ask the European Union for a 'long' delay to the Brexit deadline, her office said, after pro-Brexit ministers objected...
Markets remain under moderate pressure, despite the Fed comments. Powell's semi-annual speech in Congress reinforced expectations that the US Central Bank...
China's blue-chip index jumped more than 6% on Monday morning on news that Trump would postpone of the tariff's introduction. The U.S. President...
Top 10 Forex Brokers 2019
| 1 |  | 92% |
| 2 |  | 89% |
| 3 |  | 88% |
| 4 |  | 86% |
| 5 |  | 84% |
| 6 |  | 82% |
| 7 |  | 81% |
| 8 |  | 78% |
| 9 |  | 77% |
| 10 |  | 72% |