France Business Confidence Index Declined in September

News Event

From Trading Economics: Business Confidence in France decreased to 102 in October from 103 in September of 2016. Business Confidence in France averaged 100.02 from 1976 until 2016, reaching an all-time high of 125 in June of 2000 and a record low of 68 in March of 2009. Business Confidence in France is reported by the INSEE, France.

Market Snap

Market Opening Wrap

In Asian Equity Markets, Japanese stocks hit a six-month top on Tuesday as the dollar advanced on the yen, while risk sentiment got a lift after factory surveys in the United States and Europe boasted the best readings of the year so far. Japan's Nikkei rose 0.8 percent to its highest since late April as a softening yen burnished the outlook for the country's exporters. Australian stocks added 0.6 percent and Taiwan  0.3 percent. Markets elsewhere were more mixed, leaving MSCI's broadest index of Asia-Pacific stocks outside Japan flat. South Korea's main index fell 0.6 percent after data showed Samsung Electronics decision to scrap its Galaxy Note 7 dragged on the entire economy in the third quarter, though growth still pipped forecasts.

In Currency Markets the dollar held near nine-month highs against a basket of major currencies on Tuesday as solid U.S. manufacturing activity and comments from a Federal Reserve official cemented expectations of a U.S. rate hike by year-end. The euro eased 0.1 percent to $1.0876, languishing near its seven-month low of $1.0859 touched on Friday. The dollar also had an edge against the yen, rising 0.3 percent to 104.48 yen, just below a 2-1/2-month high of 104.635 yen set earlier this month. Elsewhere, the Canadian dollar traded at C$1.3339, recovering from seven-month low of C$1.3398 touched on Monday. The dollar's index against a basket of six major currencies traded at 98.768.

In Commodities Markets oil prices fell early on Tuesday over a disagreement within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices. International Brent crude oil futures were trading at $51.38 per barrel, down 8 cents from their last close. U.S. West Texas Intermediate crude futures were down 5 cents at $50.47 a barrel. Spot gold was up 0.1 percent at $1,265.82 an ounce, while U.S. gold futures were up 0.2 percent at $1,266.10 an ounce. Silver was up about 0.4 percent at $17.62 an ounce. It touched an over 2-week high of $17.88 in the previous session. Platinum was up 1 percent at $945.60 an ounce, while palladium was up 0.7 percent at $634.97.

In US Equity Markets the S&P 500 hit a two-week high on Monday on the back of strong earnings, while a flurry of acquisitions indicated corporate America continues to see untapped value in the market. The S&P 500 gained 0.47 percent, to 2,151.33 and the Nasdaq Composite  added 1 percent, to 5,309.83. TD Ameritrade  fell 4.4 percent after it said it would buy privately held Scottrade Financial Services in a deal valued at $4 billion. Wall Street signalled skepticism that AT&T would be allowed by regulators to purchase Time Warner Inc  for a planned $85.4 billion. Shares of both companies fell as analysts scrutinized the deal, with AT&T down 1.7 percent  and Time Warner Inc down 3.1 percent.

In Bond Markets longer-dated Japanese government bond prices edged higher on Tuesday as the market witnessed firm investor demand at a 20-year debt auction. The benchmark 10-year JGB yield was unchanged at minus 0.060 percent. The yield had been at minus 0.055 percent earlier in response to an overnight rise in U.S. Treasury yields. The 30-year JGB yield fell half a basis point to 0.485 percent.

Source: Institute of Trading and Portfolio Management