Feb 08


  • BY: Donal Kelly
  • February, 08th, 2016 20:24 +00:00

Good evening,

heavy losses in Europe with the Eurostoxx50 down 103 points at 2,774 (-3.58%). Weak performances in US as well, as financial and techs stocks are undeperforming other sectors. DJIA is at 15,778 (-2.19%) and Nasdaq Composite is doing even worse at 3,892.5 (-3.22%). In Japan future contracts estimate the Nikkei should open down 320 points.

This selloff wave is part of a medium term market correction, backed by weakened expectations of global growth. Gold is the beneficiary of fly to quality trades and the shiny metal is trading at 1,115.5 (+3.27%). Crude Oil is struggling to keep 30$/barrel level and is losing 3.08%.

In the FX market the most volatile currency is the Japanese Yen, with GbpJpy down 268 pips and USdJpy losing 137 pips.  EurUsd is gaining 56 pips at 1,1209 (+0.50%).

In China will be celebrated the New Year, and the European session will kick off with the Swiss Unemployment Rate at 06:45 GMT.

(20:15 GMT)