09.10.14

Oct 09

FUNDAMENTAL ANALYSIS BY NSFX 09.10.2014

  • BY: Nati
  • October, 09th, 2014 6:27 +00:00

Good morning,

Asian shares have been boosted on US Federal Reserve concerns on global economy regards downside risk in their latest policy meeting. USDJPY was trading at 107.91 at time of writing in part due to the positive machinery orders in September. Bank of Japan will post their Monetary Policy Meeting Minutes in the coming hours. Australian Unemployment rose slightly, although not as much as had been expected. The rate now stands at 6.1%. Aussie Home Loans and a speech from Reserve Bank of Australia Assistant Governor Edey are the main events in Australia in the coming 24 hours.

The NIKKEI was trading at 15483.58; dropping 112.40 points or 0.72%

German trade figures this morning saw a decline in both imports and exports. French figures to follow. The European Central Bank will publish their monthly report this session, and Greek Consumer Price Index figures are set to be announced for September. The Greek Unemployment rate which currently stands at 27% will also be revised. The main news out today affects Sterling as The Bank of England is set to publish their Interest Rate Decision. The forecasts say that it will remain unchanged at 0.5% CABLE trading at 1.6162 - any figure other than the 0.5% expected could change the level. Towards the end of the European session ECB President Mario Draghi is scheduled to speak.

The FTSE100 closed at 6482.24 yesterday falling 13.34 points or minus 0.21%, while the DAX closed at 8995.33 down 90.88 points for a decline of 1.00%

Across the Atlantic today we are going to see Canadian New Housing Price Index data, with Jobless Claims figures out of the US. USDCAD trading at 1.1105 ahead of the announcements, but the pair may have more influential data on the way tomorrow when the updated Unemployment figures for Canada are announced, which currently stands at 7% EURUSD was trading at 1.2740 the highest level in two weeks following the Federal Reserve policy meeting minutes which focused on the downside risks to the U.S. economy, suggesting the central bank could take its time in raising interest rates.

The DOW closed at 16994.22 gaining 274.83 points or 1.64%

Hope you all have a nice day.