04.01.17

Jan 04

FUNDAMENTAL ANALYSIS BY NSFX 04.01.2017

  • BY: Donal Kelly
  • January, 04th, 2017 9:05 UTC

Good morning and Happy New Year,
            
Asian Markets remain upbeat with the JPN225 pushing towards the December 2016 high of 19651. A break out could see the index continue to push towards the 20k figure amid JPY weakness and the knock on effect that exports increase due to lower costs to buyers, seeing a positive affect on the balance sheet of the main movers. The Nikkei Manufacturing PMI for December was out at 52.4 from 51.9 previously. USDJPY trading at 117.97at time of writing, with the JPN225 trading at 19609 at time of writing.
            
USDJPYecnDaily 04.01.17       JPN225scDaily 04.01.17
            
In Europe this session there will be important Consumer Price Index figures later in the session, but before that we will see a range of Markit Services data from Spain, Italy, France, Germany and the Euro Zone, alongside PMI Composites from France, Germany and the Euro Zone. French Consumer Confidence, Spanish Unemployment change figures, and Hungarian Producer Price Index figures will start the session however. EURGBP trading at 0.8499 at time of writing ahead of the British Mortgage Approvals, Consumer Credit and Lending to Individuals data from November will be released. December PMI figures will be released at the same time.
            
EURGBPecnDaily 04.01.17       EURUSDecnDaily 04.01.17
            
Across the Atlantic today the FOMC Minutes from their most recent meeting are due to be published. EURUSD tested as low as 1.0340 during yesterday’s session, but the pair is trading at 1.0410 at time of writing. MBA Mortgage Applications will be the first item on the Wall Street agenda today, before the ADP Employment Change for December is published. The ISM New Your Index is also on the schedule. Later in the evening the API Weekly Crude Oil stock figures will be released. USOIL trading at around $52.70 while GOLD was trading at around $1163 per ounce.
            
I hope you all have a nice day.