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  
Markets recede from the recent highs

A strong Nonfarm Payrolls caused pressure on the stock markets, reducing the chances of the interest rates lowering by the Fed in the upcoming months...

Gold resumes rally, pushing past $1400

Gold prices resumed a push higher on Monday, as flows into the precious metal continued on improved prospects for easier monetary policy from...

Gold rises as markets slip

Market caution continues to support gold. Quotes of this metal rose to $1337, repeatedly trying to push above this year highs at the 1340-1360 area...


Trump says Brexit should happen

President Donald Trump promised the U.K. a "phenomenal trade deal" Tuesday, on the second day of his state visit to Britain...

Euro and Gold instead of Dollar

Gold rose on Monday to the highest levels since February, reaching $1327 per ounce. In the first hours of the Tuesday trading session, there...

Markets recover after the drop

The markets decline on investors' fears that trade conflicts will drag on and slow down demand, and this dynamic coincided with breaking through important...


Markets pressured by Huawei problem

Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for...

The climate is changing rapidly

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 saw their worst week

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...

  


Share it on:   or