The trading day began on Tuesday with disappointing Chinese data that failed to move the markets. Quite a comparison from previous years, when any signs that the engine of global growth was cooling, would send shockwaves through international markets. Exports from China (YoY) fell to 7.2% growth in July, from 11.3% in June, whilst Chinese […]
The most prominent action in Forex markets during Monday’s trading sessions, came courtesy of the New Zealand dollar as a consequence of the two year inflation forecast (for the third quarter), missing the forecast; coming in at 2.07%, versus last quarter’s reading of 2.17%. The kiwi fell versus the majority of its peers; NZD/USD fell
Monday starts the week with Chinese data concerning the current account balance and foreign reserves, both figures expected to reveal marginal improvements. USA data is released early morning concerning mortgage delinquencies and mortgage foreclosures over the second quarter of 2017. At 4.71% mortgage delinquencies in the USA are running at extremely high levels, in comparison
As widely predicted, the UK’s BoE division, the monetary policy committee, revealed they’d voted to keep the UK’s interest rate at a record low of 0.25%. This was a rate implemented as an emergency policy, immediately after the UK’s voters elected to leave the European Union in June 2016. As has become customary, what’s termed
As predicted it wasn’t so much “if”, but rather “when” the DJIA would finally breach the 22,000 handle. And on mainstream media TV channels on Wednesday, there were many images of middle aged men wearing jackets, emblazoned with the name of investment banks, or trading firms on their backs, rejoicing from their (supposed) trading floors,
Just as it was highly likely that the DJIA would be drawn to the 22,000 handle, it was somewhat inevitable that price would reject the level, given the cluster of orders located close to this critical psyche level. A record intraday high of 21,990 was reached, with the index of the USA largest firms closing
Despite trading in USA equity markets being approx 10% below the thirty day moving average, both the DJIA and SPX closed up on Monday, the DJIA pushed through R2 to close at a new record high and is now ominously closing in on the next major target, the 22,000 handle, which would represent an approx.
Sunday evening we’ll learn the building permits figure from New Zealand and the latest (provisional) industrial production figures from Japan. YoY production in Japan is forecast to fall to 4.8% in June, from 6.5% in May. The shock -3.6% monthly contraction recorded in May is predicted to reverse back to a healthy growth figure of
Australian import prices fell by -0.1% and export prices fell by -5.7% in Q2, initially the Aussie reacted positively to the data. However, the gains were short lived and several Aussie pairs eventually turned negative throughout Thursday’s trading sessions, with AUD/USD closing the day out resting on the daily pivot point, at 0.7967. Chinese data
As widely expected, the FOMC announced that the key interest rate in the USA would remain at 1.25%. In their follow on statement accomplishing the announcement, the committee aired concerns that inflation is below the target of 2%, whilst also committing to begin ‘unwinding’ from the $4.5 trillion balance sheet, a process scheduled to begin
