Fundamental Analysis – 06/11/2015

Good Morning,

United States Initial Jobless Claims above forecasts (264K) in October 30: Actual (276K). U.S. stocks traded in a range Thursday, trying to hold the upward trend for the month so far, ahead of Friday's key jobs report. The unemployment of US rate stood at 5.1% in September, slightly above the 4.9% rate that officials estimate would satisfy their mandate. USDCAD is up 16 points at 1.3166 supported by strong USD. Gold prices were little changed Thursday, with investors hesitant to trade on the precious metal a day ahead of the U.S. employment report. USDCHF is trading at 0.9949 while GBPUSD is trading at 1.5209.

As expected, the Monetary Policy Committee (MPC) of Bank of England kept the bank rate and stocks of purchased assets unchanged at 0.50% and GBP375bn, respectively. BoE gave no sign that it was preparing for a rate rise soon. The European Central Bank president, Mario Draghi, said the ECB’s governing council would consider how to intensify its stimulus program if it concludes the monetary easing it has taken so far is insufficient to produce a return to price stability amid a weakening of the world economy. EURUSD is trading at 1.0884 while USDCAD is trading at 1.3166.

Asian stock markets were mixed Thursday after remarks by the Federal Reserve chair renewed expectations that the Fed's first rate hike in nearly a decade could take place as early as next month. Ratings agency Moody’s warned that a slowdown in global growth linked to China a rise in US interest rates are two key reasons that could them to cut credit grades for countries next year. Norges Bank kept its key policy rate on hold at 0.75% today but the research house anticipate another 25bps cut at their mid December meeting, and one more cut in 16Q1. GBPCHF is trading at 1.5126 while EURCHF is trading at 1.0829.

Daily Performances (00.00 am. GMT); 

I hope you all have a nice day.

All the figures are as at the writing time.