MarketsDaily - Forex Trading News & Market Analysis

Baker Hughes Report Rise in Oil Rigs

👤Arthur Greene 🕔September 30, 2016

US based oil driller, Baker Hughes, in its latest report stated that there has been an increase of 7 in the number of oil rigs as the number now sits at 425 for the week ending on the 30^th of September.…

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US PCE Core Inflation Reaches 1.7%

There was a 0.1% growth in the US Personal Consumption Expenditure (PCE) price index in August after it posted an unchanged figure in July with a year on year rise at 1.0% from the previous value of 0.8%. The core reading which excludes energy and food consumption, which also happens to be the primary focus of the US Fed, reported an increase of 0.2% on the month on the trail of a 0.1% rise in July, on a year on year basis the increase grew from 1.6% to 1.7%.…

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Chicago PMI Figures at 54.2 for September

👤Lisa Harris 🕔September 30, 2016

There was a better than forecasted result in the Chicago PMI as it posted a growth to 54.2, from 51.5 in the previous month against the anticipations for a smaller growth to around 52.0. The index has always reflected a tendency for high volatility, but in terms of quarterly readings the third quarter posted a rise to 53.8 from the second quarter figures of 52.2, this was the highest reading since the last quarter of 2014.…

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Germany Retail Sales Performed Worst Than Expectations

👤Xinyang 🕔September 30, 2016

News Event

From Trading Economics: Retail sales in Germany fell 0.4 percent month-on-month in August of 2016, compared to a downwardly revised 0.5 percent gain in July while market estimated a 0.3 percent drop. Year-on-year, retail sales rose 3.7 percent, compared to a 1.5 percent decline and beating consensus of a 1.3 percent growth.…

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Japan CPI Falls for 6th Consecutive Month

👤Xinyang 🕔September 29, 2016

News Event

From Trading Economics: Consumer prices in Japan dropped by 0.5 percent year-on-year in August of 2016, following a 0.4 percent fall in the previous three months and in line with market expectations. It was the sixth straight month of decline and the fastest fall since April 2013, as the cost of housing and transport fell further while prices of food rose at a slower pace.…

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Fed’s Lockhart has an Overall Positive Outlook for the US Economy

👤Lisa Harris 🕔September 29, 2016

The Atlanta Fed President Lockhart said in a speech today that he was in support of the majority view that it is important to examine a bit more data that showed progress in the direction of the Fed’s statutory policy objectives of steady inflation and maximum employment before making moves to raise interest rates.…

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US Third Q2 GDP Estimate Revised to 1.4%

👤Nurudeen Amedu 🕔September 29, 2016

The US economy in its latest GDP in the Commerce Department’s third estimate of gross domestic product (GDP) posted a 1.4% growth in its second quarter. Analysts according to Bloomberg had earlier projected an increase of 1.3% in the value of all goods and services in the US for the last quarter.…

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US Pending Home Sales Posts 2.4% Slump

👤Arthur Greene 🕔September 29, 2016

There was a 2.4% decline in the number of contracts signed by home-buyers for the month of August, this is worse than the unchanged reading analysts had earlier forecasted in a survey conducted by Thomson Reuters. This is also the third time in 4 months that a slowing has been reported for the release, pulling the Pending Home Sales Index lower to 108.5, the least reading since the month of January where it was seen at 105.4.…

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Netherlands Business Confidence rose to 3.4 in September

👤Xinyang 🕔September 29, 2016

News Event:

From Trading Economics: Business confidence in Netherlands rose to 3.4 in September of 2016 from 1.2 in August, mainly driven by an increase in the index of semi-finished goods (107.5 from 106.5 in the preceding month) and investment goods (108.6 from 106.9).…

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Fundamental and Technical Outlook: CAD/JPY

👤Xinyang 🕔September 29, 2016

Fundamental Outlook: CAD/JPY

The main focus throughout the Asia-Pacific session remained on the announcement that OPEC has agreed on a production limit range of between 32.5mln and 33mln barrels per day, with Iran, Libya and Nigeria to be exempt from the agreement.…

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