Fundamental Analysis – 12/10/2015

Good Morning,

The Japanese government is preparing to cut the country's effective corporate tax rate to less than 30% in fiscal 2017, which starts in April of that year, people familiar with the matter said Saturday. New Zealand's median house price rose to a record in September, led by a 25.4% annual jump in Auckland's median price to an all-time high as demand for property in the city spread into nearby regions. Emerging market currencies rallied strongly, AUD is opening above 73 cents for the first time in almost 2 month. On Monday, markets in Japan will be closed for a national holiday along with Canada. USDJPY is trading at 120.12 while USDCAD is trading at 1.2941.

US Federal Reserve policymakers are still likely to raise interest rates this year but that is "an expectation, not a commitment", and could change if the global economy pushes the US economy further off course, Federal Reserve Vice Chairman Stanley Fischer said. We expect US stocks to finish the week modestly lower on China bubble-bursting fears. Almost 70% of S&P 500 component stocks have overbought. It is a highest level since October 31, 2014. USDCHF is trading at 0.9608 while GBPUSD is trading at 1.5326.

The European Investment Bank (EIB) will examine whether Volkswagen used any loans from the European Union to cheat on emissions tests for diesel vehicles and could demand money back, EIB chief Werner Hoyer told a German newspaper. EURUSD is trading at 1.1375 while EURGBP is trading at 0.7420.

Daily Performances (01.30 am. GMT);

I hope you all have a nice day.

All the figures are as at the writing time.