Fundamental Analysis – 10/12/2015

Dec 10


  • BY:
  • December, 10th, 2015 0:22 +00:00

Good Morning,

RBNZ, as expected by the majority of people who forecast RBNZ moves, cut the Cash Rate to 2.5%. NZDUSD has stabilized on the bid in the aftermath of the RBNZ interest rate decision. Asian shares slipped on Wednesday despite the release of better than forecast economic data from China and Japan, where tumbling oil prices continued to weigh on energy shares. USDCHF is trading at 0.9833 while USDCAD is trading at 1.3568.

European Central Bank policy maker Ewald Nowotny said the financial community misjudged the state of the euro area economy and thus had unrealistic expectations for more stimuli last week. GBPCAD cross traded at its highest level since late August, up to 2.0643, as GBP rallied versus most competitors whilst CAD plummeted to fresh lows on the back of oil's decline. EURCAD is trading at 1.4948 while EURGBP is trading at 0.7256.

A slump in several big technology companies left the stock market in US broadly lower at the closing bell Wednesday. Gold soared for a second straight session on Wednesday as USD retreated, yet it may come under pressure as the Federal Reserve prepares for an interest rate increase next week. GBPCHF is trading at 1.4924 while EURCHF is trading at 1.0834.

Daily Performances (4.00 am. GMT);

Currencies / Indices / Commodities Performance
USDCAD -          0.08%
GBPUSD 0.02%
EURGBP -          0.01%
Athex Composite Share Pr -          3.80%
OMX Copenhagen Index -          0.43%
FTSE 100 Index -          0.14%
CAC 40 Index -          0.95%
BIST 100 Index 2.03%
DAX Index -          0.76%
IBEX 35 Index -          0.02%
Euro Stoxx 50 Pr -          0.61%

I hope you all have a nice day.

All the figures are as at the writing time.