FUNDAMENTAL ANALYSIS BY NSFX 28.12.2016
- BY: Donal Kelly
- December, 28th, 2016 9:01 +00:00
Japanese markets announced Retail Trade and Industrial Production figures for November. A positive result on retail trade, as the year on year growth was at 1.7% against an expected 0.9% Preliminary figures show that Industrial Production grew by 4.6% till November. USDJPY trading at 117.57 at time of writing. There is very little on the data feed this week from either Australia or New Zealand. The summer holiday and New Year celebrations must be in full swing. AUDNZD trading at 1.0418 at time of writing.
European Markets will be fully functional again today after the Christmas break. The day is still expected to have lower than average volumes, due in part to the same market slow down experienced in Asia. Swiss figures will lead the way with the UBS Consumption Indicator the first item on the agenda this morning. EURCHF trading at 1.0757 at time of writing. Spanish Retail Sales figures, and Italian Consumer & Business Confidence figures will be the next items on the calendar, then we will look towards the British Bankers’ Association Mortgage Approvals figures for November.
Across the Atlantic today we get the MBA Mortgage Applications figures and the Redbook Index out of the US before the November Pending Home Sales figures are released. GBPUSD trading at 1.22.94 at time of writing. The API Weekly Crude Oil Stock will also be announced today. USOIL was trading at $53.84 per barrel, while GOLD was trading at around $1144 per ounce at time of writing. This week is also expected to be a quiet one Stateside, also due to the holiday season.
I hope you all have a nice day.