Fundamental Analysis – 21/10/2015

Oct 21


  • BY:
  • October, 21st, 2015 0:02 +00:00

Good Morning,

Oil futures steadied from their overnight lows in choppy trade on Tuesday, as traders moved past dim economic data from China to pay attention to supply. US Housing starts increased by 6.5% in September 2015 to reach an annualized 1,206,000 units, thereby unwinding a 1.7% decline to the 1,132,000 starts recorded in August (was a 3.0% drop to 1,126,000). Gold is unchanged on Tuesday, as the spot price is $1172 per ounce early in the North American session. The Canadian dollar has posted small gains on Tuesday, as USDCAD trades at the 1.30 line at the start of the North American session. The Lonnie took a hit after Canadians voted in favor of an expansionary fiscal policy. 'I do see the time to start raising rates in the near future, from my perspective' - John Williams, San Francisco Fed President. USDCHF is trading at 0.9562 while GBPUSD is trading at 1.5445.

China recorded GDP growth of 6.9% in the third quarter. RBA minutes said interest-rate slashes earlier this year continue to enhance demand, helping the economy to re-balance by giving support to the struggling mining sector. 'This re-balancing was being increasingly supported by the depreciation of the AUD, which had led to a noticeable increase in net service exports over the year' - Reserve Bank of Australia. Asian stock markets: Nikkei up 0.42 %, Shanghai Composite up 1.14 %, Hang Seng lost 0.37 %, and ASX declined 0.50 %. EURUSD is trading at 1.1352 while USDJPY is trading at 119.81.

GBPUSD is unchanged on Tuesday, as the pair trades slightly under the 1.55 line in the European session. EURUSD is steady on Tuesday, with the pair trading at 1.1350 early in Tuesday's European session. Swiss trade surplus is narrowing. Little Eco news, little event news and little moves on equities together with the upcoming ECB meeting keep core bonds trading sideways oriented. French President Francois Hollande said France's economy would expand 1.1% this year, compared with the previous government forecast of 1%. 'UK consumers seem unperturbed by financial market and emerging economy weakness that have dampened sentiment in the corporate sector. European markets are once again expected to open little changed on Tuesday following an uninspiring start to the week after a mixed bag of Chinese data failed to provide much direction for the markets. EURAUD is trading at 1.5617 while EURJPY is trading at 136.01.

Daily Performances (00.00 am. GMT);

Currencies / Indices / Commodities Performance
AUDUSD 0.10%
USDJPY -          0.01%
NZDUSD -          0.03%
GBPJPY 0.03%
USDCHF 0.01%
GBPUSD -          0.10%
EURUSD 0.18%
EURGBP 0.29%
Hang Seng Index -          0.37%
Nikkei Stock Average 225 0.42%
S&P BSE Sensex -          0.21%
Shanghai Stock Exchange Composite Index 1.14%
S&P / ASX 200 Index -          0.50%
Dow Jones Industrial Average 0.02%
S&P 500 -          0.05%
Nasdaq Composite Index -          0.44%
FTSE 100 Index -          0.11%
DAX Index -          0.16%
CAC 40 Index -          0.64%

I hope you all have a nice day.

All the figures are as at the writing time.