Dec 29

FUNDAMENTAL ANALYSIS BY NSFX 29.12.2015

  • BY: Donal Kelly
  • December, 29th, 2015 18:30 +00:00

Good evening,

US indices jumped just after the opening and now the S&P500 is gaining 19 points at 2,075.5 (+0.92%) and the Nasdaq Composite is up 56.3 points at 5,097.29 (+1.12%). Positive macro data from the real estate market, with the Case-Shiller at 5.5%, above the consensus (+5.4%). Consumer Confidence at 96.5 (analysts expected the data at 93.5) kept high risk appetite, with Crude Oil at 37.66 $/barrel (+2.42%) and Natural Gas continued its rally after last week it reached a multiyear low. The commodity is trading at 2.364 $/BTU (+4.79%).

In the FX market the US dollar is gaining against the Euro, the Swiss Franc and the British Pound. UsdJpy is flat at 120.45 and the Greenback is losing ground against the Canadian dollar and Oceanic currencies as well, with AudUsd at 0.7293 (+0.63%) and NzdUsd at 0.6872 (+0.42%).

Tomorrow the most interesting event during the European session will be the Swiss UBS Consumption Indicator at 07:00 GMT and during the US session will be released mortgage application data at 12:00 GMT and Pending Home Sales at 15:00 GMT. For Crude Oil traders will be interesting to follow EIA Crude Oil Stocks Change data at 15:30 GMT.

(18:29 GMT)