Fundamental Analysis – 07/01/2016

Gen 07

FUNDAMENTAL ANALYSIS BY NSFX 07.01.2016

  • BY:
  • Gennaio, 07th, 2016 0:58 +00:00

Good Morning,

NZDUSD continues to lose ground on Wednesday, as the pair trades at 0.6638. AUD has posted sharp losses on Wednesday, as AUDUSD trades at 0.7069. USDJPY unchanged after Fed minutes. USDCHF is trading at 1.0070 while USDCAD is trading at 1.4082.

European stocks fell on Wednesday, hit by weakness in the commodity sector as concerns over the Chinese economy resurfaced after it allowed CNY to weaken further. The euro zone economy finished 2015 on solid footing, with business growth in Germany and Italy accelerating to multi-year highs, although inflation pressures remained weak despite months of lavish European Central Bank stimulus. “Money-printing plan has so far failed to drive up inflation and touches on Europe’s odd fascination with never having a backup plan: the bank does not have an alternative plan B”, ECB Executive Board member Peter Praet said in a magazine interview published on Wednesday. EURCAD is trading at 1.5185 while EURGBP is trading at 0.7372.

Global stocks were kicked around and oil fell nearly 6%. United States Factory Orders (MoM) are in line with forecasts (-0.2%) in November. Canada International Merchandise Trade above forecasts ($-2.6B) in November: Actual ($-1.99B). Gold extended its gains for a third straight session on Wednesday as worries in the market continued to spark haven demand on bullion. GBPCHF is trading at 1.4722 while EURCHF is trading at 1.0859.

Daily Performances (4.00 am. GMT); 

Currencies / Indices / Commodities

Performance

USDCAD

0.62%

GBPUSD

-          0.33%

EURGBP

0.72%

CAC 40 Index

-          1.26%

BIST 100 Index

0.72%

IBEX 35 Index

-          1.48%

Euro Stoxx 50 Pr

-          1.22%

FTSE 100 Index

-          1.04%

OMX Copenhagen Index

-          0.96%

Swiss Market Index

-          1.01%

I hope you all have a nice day.

All the figures are as at the writing time.