Fundamental Analysis – 26/10/2015

Oct 25

FUNDAMENTAL ANALYSIS BY NSFX 25.10.2015

  • BY:
  • October, 25th, 2015 22:37 +00:00

Good Morning,

Canadian inflation up 1.0% in September. Markit US Oct prelim manufacturing PMI 54.0 vs 52.7 expected. The Nasdaq 100 index, dominated by U.S. technology stocks, may set a record high next week. The year-over-year rate of growth of the US Coincident Index again declined marginally. The strong rebound in USDCAD after drawing support from 1.2834 suggests that pull back from 1.3456 has completed already. Oil rises first on China rate, then succumbs to dollar rally. USDCHF is trading at 0.9782 while GBPUSD is trading at 1.5313.

China's central bank cut its benchmark lending rate and reserve requirements for banks, stepping up efforts to cushion a deepening economic slowdown. AUDUSD stayed is tight range last week and outlook is unchanged. USDJPY's strong rally last week suggests that rebound from 116.13 is resuming. EURUSD is trading at 1.1016 while USDCAD is trading at 1.3167.

EUR was weaker across the board during the past trading week as comments from European Central Bank’s President sounded very dovish and included hints at probable addition of monetary stimulus. No change in GBPJPY's outlook as side-way consolidation from 180.36 continued last week. EURGBP's fall from 0.7492 extended lower last week and the breach of 0.7195 support suggests that whole rebound from 0.6935 has completed already after failing to sustain above 0.7482 resistance. EURGBP is trading at 0.7193 while EURCHF is trading at 1.0780.

Daily Performances (00.00 am. GMT);

 

Currencies / Indices / Commodities

Performance

USDCAD

0.57%

Russell 2000 Index

1.00%

S&P / TSX 60 Index

0.60%

Wig 20

0.06%

USDCHF

1.41%

GBPUSD

0.48%

EURUSD

-          0.87%

EURGBP

-          0.32%

BIST 100 Index

-          0.16%

DFM General Index

0.29%

Athex Composite Share Pr

0.32%

OMX Copenhagen Index

1.50%

S&P / ASX 200 Index

1.63%

Dow Jones Industrial Average

0.90%

S&P 500

1.10%

Nasdaq Composite Index

2.27%

FTSE 100 Index

1.06%

DAX Index

2.88%

CAC 40 Index

2.53%

I hope you all have a nice day.

All the figures are as at the writing time.