Recovery on global stock market

17 November, 2017

European Outlook: The recovery on global stock markets continued in Asia overnight, with a round of positive earnings from U.S. companies reports and progress on the U.S. tax reform plan underpinning risk appetite. The Hang Seng outperformed with banks underpinned by optimism over new shareholding rules. Elsewhere gains were more muted however, and the Nikkei closed up 0.20%, while U.K. Stock futures are down, and U.S. futures narrowly mixed. Oil prices are slightly higher on the day and the front end WTI  future is trading a USD 55.35 per barrel. A more cautious mood then on stock markets going into the European open and long yields declined in Japan and Australia. Bund futures extended losses in after hour trade yesterday, with Gilt under-performing and with BoE’s Carney repeating late yesterday that there will be more rate hikes, if the economy develops along expected lines, Gilts could well continue to underperform. Today’s data calendar has Eurozone BoE and current account data and Bundesbank President Weidmann is scheduled to speak.

U.S. reports: revealed a surprisingly robust round of industrial production figures, with a 0.9% October surge after big upward revisions back through May, alongside a slightly larger than expected November Philly Fed drop to a still-solid 22.7 from 27.9, with a larger ISM-adjusted drop to 56.7 from 59.7. We also saw an unexpected 10k initial claims bounce to 249k in the Veteran’s Day week, though this week kicks-off the period of heightened volatility that extends through the MLK weekend. The October trade price figures proved weaker than expected despite oil import and food export price gains, perhaps partly due to the October bounce in the value of the dollar combined with some unwind of a prior hurricane-boost. The net upside surprise for the day’s reports was reinforced by a 2-point bounce in the NAHB index to 70, and a rise in the weekly Bloomberg consumer comfort index to 52.1 from 51.5.

Source link  
ECB in focus as trade tensions ease

European Commission President Juncker and US President Trump agreed to suspend new tariffs during the negotiations which aim to lower barriers to transatlantic...

Long yields continue to climb

Nikkei gained 1.09% after a strong close on Wall Street and with the earnings season starting to overshadow lingering trade jitters at least for now. A weaker...

Stocks opened lower on trade tension

U.S. trade tariffs tightened market conditions. Coeure said that “while the effects of any tariffs on output and inflation may take time to materialise, falls...

Stock markets mostly moved higher

China and Hong Kong alongside other markets were closed for Lunar New Year holidays, which muted trading, but the Nikkei gained 1.19%...

Dollar traded mostly softer

The U.S. currency has been correlating inversely with global stock market direction of late on the causation that risk-on phases have seen investors...

US durable goods rebounds

U.S. personal income rose 0.3% in November with spending up 0.6%. The 0.4% increase in October income was not revised. The 0.3% spending increase..

FOMC meeting is front and center this week

The FOMC meeting is front and center this week following the solid November jobs report on Friday, which provided the final bit of cover for...

Oil prices are down

Asian stock markets headed south again, as declines and energy and mining stocks led shares lower amid a further drop in metal prices. Concern China’s regulators may limit the flow...

Asian stock markets moved slightly higher

The rout on Chinese bond and stock markets that dominated Thursday’s session faded and the Nikkei managed a 0.12% gain as the yen...

In the past 24 hours Bitcoin has gained 7.7% and reached $3919.85283947. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.311% and is now at $1.1319. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 19.47% and is now at $144.663666785. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Daily Forex Market Reviews

Forex Currencies Forecasts

Top 10 Forex Brokers 2019

# Broker Review
5FIBO GroupFIBO Group84%
10FP MarketsFP Markets70%