Fundamental Analysis – 30/09/2015

Good Evening,

U.S. stock index futures rose more than 1% on Wednesday, a day after the S&P 500 snapped a 5-day losing streak, ahead of key private sector employment data. On Wednesday, economists at the WTO downgraded their forecast for global trade growth this year to 2.8%, from 3.3% previously, and warned that their prediction remained vulnerable to a cloudy outlook for the world economy. United States ADP Employment Change above expectations (195K) in September: Actual (200K). Canada Gross Domestic Product (MoM) came in at 0.3%, above forecasts (0.2%) in July. United States Chicago Purchasing Managers' Index below forecasts (53) in September: Actual (48.7). USDCHF trading at 0.9761 while USDCAD trading at 1.3394.

Asian stock markets bounced higher Wednesday, led by gains in Japan where investors were buoyed by expectations for more economic stimulus. EURJPY trading at 133.59 while CADJPY trading at 89.30.

European stocks marched higher Wednesday following a positive lead from Asia overnight and Wall Street Tuesday, as markets try to end a torrid quarter on a high. Lenders remain supportive of embattled commodities trader and mining company Glencore, which has around $13 billion of liquidity available and can finance its debt maturities for two years, sources familiar with the situation said on Tuesday. Germany Retail Sales (YoY) below forecasts (3.1%) in August: Actual (2.5%). Germany Unemployment Change came in at 2K, above expectations (-5K) in September. United Kingdom Gross Domestic Product (QoQ) meets forecasts (0.7%) in 2Q. United Kingdom Current Account came in at £-16.77B, above expectations (£-22.6B) in 2Q. European Monetary Union Consumer Price Index - Core (YoY) meets expectations (0.9%) in September. The Eurozone will need at least another three years of quantitative easing and €2.4 trillion of firepower to revive its flagging fortunes, Standard & Poor's has warned. European Monetary Union Unemployment Rate came in at 11%, above expectations (10.9%) in August. The Euro lost ground on Wednesday as data showing euro zone inflation dipped back into negative territory in September fueled expectations the European Central Bank will expand or extend its asset purchase program. EURUSD trading at 1.1169 while EURCHF trading at 1.0903.

 Daily Performances (3.45 pm. GMT);

 I hope you all have a nice evening.

 All the figures are as at the writing time.