28.08.13
FUNDAMENTAL ANALYSIS BY NSFX 28.08.2013
- BY: Nati
- August, 28th, 2013 7:57 +00:00
The JPY gained strength as investors reduced exposure to declining emerging market currencies. The Indian Rupee is at all-time lows after falling to 68.31 against the USD, and with the surge in oil prices, India could suffer further as share prices continue to fall. Bond prices rise by 10 basis points. The Deputy Governor of the Bank of Japan, Kikuo Iwata, says they will continue with Quantitative Easing until inflation stabilizes at 2%. USD/JPY was trading at 97.34 with a high of 97.41 and a low of 96.81 so far.
The NIKKEI closed at 13338.50 down 203.91 points or minus 1.51%
Italian Retail Figures will be released today, expected to increase to 0.2% up from last month’s 0.1% growth. German Finance Minister, Wolfgang Schaeuble, said an estimate of a further Greek bailout in the region of 11 billion euros was not unrealistic. European Central Bank forward guidance expects interest rates to remain low for some time to come according to board member Joerg Asmussen, speaking yesterday. The next ECB council meeting takes place on the 5th of September.
The FTSE100 closed at 6415.99 down 29.27 or minus 0.45% while the DAX closed at 8189.36 down 53.20 points or minus 0.65%
Syrian intervention fears have led to a spike in Oil and Gold prices, the rise continues from yesterday and XAUUSD was trading at 1423.65 per ounce. USOIL was trading at 109.90 per barrel. UN inspection teams are in place following last week’s chemical attack. However it is doubtful any intervention will take place until Sunday at least. The UN team is not due to leave until then and there is a summit in Jordan between international leaders relating to any proposed military intervention. CABLE was trading at 1.5517 while EUR/USD is trading at 1.3380 with a high of 1.3397 and a low of 1.3370 so far.
The DOW closed at 14776.10 down 170.33 or minus 1.14%
Have a nice day.