Fundamental Analysis – 09/09/2015
FUNDAMENTAL ANALYSIS BY NSFX 09.09.2015
- BY:
- September, 09th, 2015 15:59 +00:00
Good Evening,
The prospects for China's economy were positive even though the world's second largest economy continued to experience downward pressure, Chinese Premier Li Keqiang said on Wednesday.
The major Asian markets rose across the board, with the overnight rally on Wall Street further fueling risk appetite. Nikkei soared 7.71% overnight, its biggest session gain since October 2008, after Prime Minister Shinzo Abe scored three more years as head of the Liberal Democratic Party. Abe promised to cut the corporate tax rate by 3.3% points next year, a move that was widely expected. AUDUSD trading at 0.7027 while NZDUSD trading at 0.6407.
U.S. stocks open higher on Chinese stimulus hopes. The S&P 500 rose 0.11%, the Dow Jones Industrial Average added 0.13%, and the NASDAQ gained 0.21% in the writing time.
United States JOLTS Job Openings came in at 5.75M, above forecasts (5.29M) in July. USOIL trading at 45.46 while Precious-Gold trading at 1,107.97.
Europe's stock markets jumped today in a global rally driven by the brighter economic outlook and impressive gains in Tokyo. London's benchmark FTSE 100 index of top companies rose 1.35%. Frankfurt's DAX 30 climbed 0.37% and the Paris CAC 40 advanced 1.44% compared with yesterday's close.
United Kingdom Industrial Production (MoM) registered at -0.4%, below expectations (0.1%) in July. U.K. manufacturing slipped 0.8% in July compared to a 0.2% rise in June. United Kingdom NIESR GDP Estimate (3M) declined to 0.5% in August from previous 0.7%. EURGBP trading at 0.7261.
The official data released in Canada today showed the building permits in July edged down 0.6% to $7.7 billion in July, following a 15.5% increase in June. Bank of Canada leaves rate unchanged at 0.5%. USDCAD trading at 1.3226.
I hope you all have a nice day.