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
Unsurprisingly, the Federal Reserve kept rates on hold following the end of its 2-day meeting on Wednesday. They did, however, indicate that...
UK unemployment fell to its lowest level since 1975, data on Wednesday revealed. Unemployment fell by 75K, bringing the unemployment...
US equities closed at record levels on Wednesday, as improved risk-on sentiment returned to the markets and news that the US economy...
Hurricane Irma has, reportedly, inflicted less damage on the US mainland than was originally predicted, thereby reducing the economic impact of the devastation it was expected to...
With the markets risk appetite dampened after North Korea’s most powerful nuclear test to date, USD and Global equities fell whilst Gold, Yen and Sovereign Bonds all rose....
North Korea official news agency reported on Monday that leader Kim Jong Un will watch the actions of the United States for a while longer before making a decision to fire missiles at Guam...
Markets were cautious on Wednesday, as safe-haven assets pushed higher after tensions grew between the US and North Korea. Markets are concerned...
Recent data releases have shown that global manufacturing saw an increase in July, further confirming global economic momentum has carried into H2...
Markets were, for the most part, little changed on Wednesday as traders waited for today’s Bank of Japan and ECB rate decisions. Earlier today...
Top Brokers offering Daily Forex Market Reviews
Forex Currencies Forecasts
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | Easy Markets | 90% |
| 2 |  | FXTM | 87% |
| 3 |  | FxPro | 84% |
| 4 |  | FIBO Group | 82% |
| 5 |  | HYCM | 73% |
| 6 |  | FXCM | 71% |
| 7 |  | Fort Financial Services | 70% |
| 8 |  | HotForex | 69% |
| 9 |  | FBS | 68% |
| 10 |  | 24option | 67% |
