19.10.16

Oct 19

FUNDAMENTAL ANALYSIS BY NSFX 19.10.2016

  • BY: Donal Kelly
  • October, 19th, 2016 10:08 +00:00

Good morning,

Chinese Gross Domestic Product figures were in line with analysts expectations. Growing by 1.8% in the third quarter or 6.7% year on year. Industrial Production dropped below expectations, down to 6.1% from 6.3% previously when a 6.4% figure had been forecast. Retail Sales figures however showed a slight improvement out at 10.7% against 10.6% expected. The Japanese All Activity Index grew by 0.2%, from 0.3% previously, this August. USDJPY trading at 103.44 at time of writing.

USDJPYecnDaily 19.10.16GBPUSDecnDaily 19.10.16

In Europe this session UK figures will be the focus during the earlier part of the day with Unemployment figures due out before Euro Zone Construction Output figures and the Portuguese Current Account balance for August will be published. GBPUSD trading at 1.2297 at time of writing. The European Central Bank will announce their Interest Rate decision tomorrow with a monetary policy statement and press conference shortly afterwards. EURGBP trading at 0.8944 at time of writing.

EURGBPecnDaily 19.10.16USDCADecnDaily 19.10.16

Across the Atlantic today the US will see MBA Mortgage Applications figures early in the session, with Housing Starts and Building Permits figures for September due out shortly aferward. FOMC member John Williams of San Francisco is scheduled to speak this session. Shortly after this the Bank of Canada will deliver their Monetary Policy Report and announce their Interest Rate Decision. The rate is expected to remain unchanged at 0.5% USDCAD trading at 1.3110 at time of writing.

I hope you all have a nice day.