Fundamental Analysis – 10/09/2015

Good Evening,

High prices for pork and fresh vegetables pushed up China's inflation in August. The rate reported Thursday was an increase over July's 1.4%. That was due largely to a 3.7% increase in food costs, which included a 15.9% rise for fresh vegetables and 9.3% for pork. Slowing economic growth and declines in commodity prices have helped keep China’s consumer inflation in check, with some economists even voicing concerns about possible deflation. The CSI300 index of the biggest stocks listed in Shanghai and Shenzhen ended down 1.23%, while the Shanghai Composite Index was 1.39% lower. NZDUSD trading at 0.6302 while AUDUSD trading at 0.7088.

The Nikkei 225 fell 2.51% today after a 7.71% bounce yesterday. USDJPY trading at 120.73.

European stocks fell Thursday, on course to break a three-session win streak, as downbeat economic data from Asia once again stoked worries about global growth. The Stoxx Europe 600 dropped 1.27%. Germany’s DAX lost 0.90%. In Paris, the CAC 40 fell 1.37%. The U.K’s FTSE 100 lost 1.18%. EURDKK trading at 7.4611 while USDNOK trading at 8.1819 and USDSEK trades at 8.3609.

Meanwhile, the pound edged higher ahead of the Bank of England’s rate decision. BOE MPC kept rates unchanged as expected. EURGBP trading at 72.92 while GBPUSD trading at 1.5451.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 5 decreased by 6,000 to a seasonally adjusted 275,000 from the previous week’s total of 281,000. United States EIA Natural Gas Storage change came in at 68B, below expectations (75B) in September 4. United States EIA Crude Oil Stocks change registered at 2.57M above expectations (0.17M) in September 4. USOIL trading at 45.93 while Precious-Gold trading at 1,111.61.

Canada New Housing Price Index (YoY) remains unchanged at 1.3% in August. USDCAD trading at 1.3219.

I hope you all have a nice day.

All the figures are as at the writing time.