FOREX REVIEW
Major European indices climbed higher yesterday as speculation over the new powers to be granted to the ECB and ESM helped markets rebound after several straight sessions of losses. Bond spreads also contracted after widening substantially in the prior session. Although the Bank Supervisory role and turning the ESM into a bank entity are still rumored and not official, this was enough to temporarily restore confidence. The Italian MIB rose 1.17% followed by a 0.82% gain in the Spanish IBEX. The Swedish OMX added 0.74% while the FTSE 100 was slightly weaker, falling -0.02% as UK GDP figures disappointed traders. EURUSD is down -0.15% to 1.2140 as GBPUSD ticks -0.12% lower to 1.5480.
Although no official progress has been made in Europe, Asian stocks are snapping 4-straight sessions of losses as weaker U.S. home sales fuel speculation that the Federal Reserve will add stimulus. New Zealand opted to keep the key rate at a record low of 2.50% as inflation remains low and the threat to economy remains. So far the Kiwi dollar has rallied against most peers, with NZDUSD adding 0.24%. Equity indices are led higher by the 0.33% climb in the Australian ASX. The Nikkei and Hang Seng Index are moderately higher, rising 0.28% and 0.23% respectively. Crude oil is still sliding to the downside with WTI recording a loss of -0.24% to $88.76 per barrel.
Even though the U.S. housing market has been presenting "green shoots," yesterday's disappointing drop in new home sales shows that even as prices are rising, the sector is still weak. Markets rallied slightly on speculation that this would be the catalyst for further central bank intervention but stimulus probably will not arrive until after the U.S. election. Equity indices closed the day mixed with the Dow Jones Industrial Average climbing 0.47% while the S&P 500 and Nasdaq both closed marginally lower, falling -0.03% and -0.31% respectively. Gold which rose back above the $1600 level has since pulled back -0.25% to $1608.60 while silver has retraced -0.62%. The corn and wheat rallies have sputtered with corn futures falling -0.82% and wheat declining -1.88%.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. CONNECTED
Visit Us www.deryworldscorp.web.id
Major European indices climbed higher yesterday as speculation over the new powers to be granted to the ECB and ESM helped markets rebound after several straight sessions of losses. Bond spreads also contracted after widening substantially in the prior session. Although the Bank Supervisory role and turning the ESM into a bank entity are still rumored and not official, this was enough to temporarily restore confidence. The Italian MIB rose 1.17% followed by a 0.82% gain in the Spanish IBEX. The Swedish OMX added 0.74% while the FTSE 100 was slightly weaker, falling -0.02% as UK GDP figures disappointed traders. EURUSD is down -0.15% to 1.2140 as GBPUSD ticks -0.12% lower to 1.5480.
Although no official progress has been made in Europe, Asian stocks are snapping 4-straight sessions of losses as weaker U.S. home sales fuel speculation that the Federal Reserve will add stimulus. New Zealand opted to keep the key rate at a record low of 2.50% as inflation remains low and the threat to economy remains. So far the Kiwi dollar has rallied against most peers, with NZDUSD adding 0.24%. Equity indices are led higher by the 0.33% climb in the Australian ASX. The Nikkei and Hang Seng Index are moderately higher, rising 0.28% and 0.23% respectively. Crude oil is still sliding to the downside with WTI recording a loss of -0.24% to $88.76 per barrel.
Even though the U.S. housing market has been presenting "green shoots," yesterday's disappointing drop in new home sales shows that even as prices are rising, the sector is still weak. Markets rallied slightly on speculation that this would be the catalyst for further central bank intervention but stimulus probably will not arrive until after the U.S. election. Equity indices closed the day mixed with the Dow Jones Industrial Average climbing 0.47% while the S&P 500 and Nasdaq both closed marginally lower, falling -0.03% and -0.31% respectively. Gold which rose back above the $1600 level has since pulled back -0.25% to $1608.60 while silver has retraced -0.62%. The corn and wheat rallies have sputtered with corn futures falling -0.82% and wheat declining -1.88%.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. CONNECTED
Visit Us www.deryworldscorp.web.id
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