France Inflation Rate at 2 Years High

News Event

From Trading Economics:The inflation rate in France was recorded at 0.40 percent in September of 2016. It was the highest inflation rate since October 2014 as an increase in prices of food and services offset a decline in the cost of energy and manufactured products. Inflation Rate in France averaged 4.52 percent from 1958 until 2016, reaching an all-time high of 18.80 percent in April of 1958 and a record low of -0.70 percent in July of 2009. Inflation Rate in France is reported by the INSEE, France.

Market Snap

Market Opening Wrap

In Asian Equity Markets, Japanese stocks fell on Wednesday morning, retreating from a five-week high after Wall Street was hit by weak corporate earnings overnight and as investors braced for Japan Inc.'s reporting season. The benchmark Nikkei index fell 0.8 percent to 16,895.42 in midmorning trade, after ending at a level not seen since early September on the previous day. The broader Topix shed 0.3 percent to 1,351.96 and the JPX-Nikkei Index 400 declined 0.3 percent to 12,105.24. MSCI's broadest index of Asia-Pacific stocks outside Japan fell 0.4 percent. The Shanghai Composite Index eased 0.39 percent and Hong Kong's Hang Seng Index fell 0.88 percent. The Australian stocks fell 0.29 percent.

In Currency Markets the recently buoyant dollar came under pressure in Asian trading on Wednesday, as sterling partially rebounded from its dramatic losses in the previous session. The pound was up 1.5 percent at $1.2301 after tumbling as low as $1.2086 on Tuesday, heading towards a 31-year low of $1.1450 hit on Friday as investors feared the impact on Britain from leaving the European Union. The dollar edged down 0.1 percent to 103.45 yen, while the euro was steady at $1.1052 recovering from a fall as low as $1.1049, its deepest nadir since early August. The dollar index fell 0.2 percent to 97.504 after rising as high as 97.758 on Tuesday, its loftiest peak since March.

In Commodities Markets crude futures inched up on Wednesday, with investors waiting for talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market. Brent crude was up 9 cents at $52.50 a barrel. It fell 1.4 percent, to close at $52.41 a barrel on Tuesday. U.S. West Texas Intermediate crude had gained 3 cents to $50.82 a barrel. It lost 1 percent, to settle the previous session at $50.79. Spot gold was up 0.4 percent at $1,257.41 an ounce. Among other precious metals, platinum was up 0.2 percent at $946.50 an ounce. Palladium gained 0.2 percent to $648 an ounce and silver climbed 0.7 percent at $17.55 an ounce.

In US Equity Markets stocks fell on Tuesday as disappointing corporate reports gave a sour tone to the start of earnings season and investors digested possible changing dynamics for the upcoming U.S. elections. The Dow Jones industrial average fell 1.09 percent, to 18,128.66 The S&P 500 lost 1.24 percent, to 2,136.73 and the Nasdaq Composite fell 1.54 percent, to 5,246.79. Energy stocks fell 1.2 percent as oil prices retreated from one-year highs. Alcoa  shares fell 11.4 percent after the metals company's quarterly profit missed estimates and it lowered its revenue forecast. Illumina  shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update.

In Bond Markets U.S. Treasury yields rose to a four-month high on Tuesday in technical trading that squared the market with a fall in Treasury futures prices the day before when the cash market for bonds was closed for the Columbus Day holiday. Yields fell from their highs as stocks trudged lower on Tuesday with benchmark 10-year Treasury notes last down 5/32 in price to yield 1.75 percent. The 30-year Treasury bond was last down 14/32 in price to yield 2.49 percent.

Source: Institute of Trading and Portfolio Management