Deprecated: Function get_magic_quotes_gpc() is deprecated in /home2/sharonox/public_html/wp-includes/formatting.php on line 1828

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home2/sharonox/public_html/wp-includes/formatting.php on line 3603

Germany Inflation Rate Increases in September

By Xinyang October 13, 2016
17001398_303

News Event


From Trading Economics: Consumer prices in Germany rose 0.7 percent year-on-year in September of 2016, compared to a 0.4 percent increase in August and matching preliminary estimates. It was the highest inflation rate since May 2015. On a monthly basis, consumer went up 0.1 percent, after remaining unchanged in the prior month. The harmonised index of consumer prices (HICP) rose 0.5 percent from a year earlier, compared to a 0.3 percent increase in July. On a month-on-month basis, the index was flat, following a 0.1 percent fall in the preceding month and in line with consensus.


Market Snap


Screen Shot 2016-10-13 at 2.12.03 PM


Market Opening Wrap


In Asian Equity Markets stocks stumbled to three-week lows and U.S. stock futures and Treasury yields fell after China's September trade data showed a sharp decline in exports, raising fresh concerns about the health of the world's second-biggest economy.MSCI's broadest index of Asia-Pacific stocks outside Japan fell 1 percent, touching its lowest since Sept. 19. Hong Kong stocks fell 1.2 percent and Japanese shares were down 0.4 percent thanks to a stronger yen. The Nikkei fell 0.4 percent by midday to 16,774.26, moving away from last Friday's five-week highs.  The broader Topix was down 0.1 percent at midday at 1,340.48 and the JPX-Nikkei Index 400 fell 0.2 percent to 11,993.87.

In Currency Markets the dollar pulled back from a 2-1/2 month high against the yen on Thursday after surprisingly weak Chinese trade data stirred fresh concern about the world's second-largest economy. The dollar last stood at 103.84 yen, down 0.3 percent from late U.S. levels on Wednesday. The euro inched up 0.2 percent to $1.1024,  getting some respite after slipping to $1.1002 earlier on Thursday, its lowest level since late July. Sterling fell 0.2 percent to $1.2183, after rising about 0.7 percent on Wednesday. The yuan fell to 6.7277 to the dollar after the central bank set a weaker mid-point for the seventh session in a row. The dollar index last stood at 97.868, having pulled back from a seven-month high of 98.122 set earlier on Thursday.

In Commodities Markets oil prices fell on Thursday after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S. crude stockpiles. International Brent crude oil futures were trading at $51.37 per barrel, down 0.85 percent, from their previous close. U.S. West Texas Intermediate crude futures were down 1.08 percent, at $49.64 per barrel. The American Petroleum Institute, a trade group, reported on Wednesday that U.S. crude inventories rose by 2.7 million barrels to 470.9 million barrels in the week to Oct. 7.  Spot gold was up 0.5 percent at $1,260.34 an ounce and silver gained 0.7 percent to $17.57 an ounce.

In US Equity Markets  the S&P 500 and the Dow Jones industrial average indexes ended Wednesday's session with small gains as expectations for timing on a rate hike were largely unchanged after U.S. Federal Reserve minutes and investors waited on earnings reports. The Dow Jones industrial average rose 0.09 percent, to 18,144.2, the S&P 500 gained 0.11 percent, to 2,139.18 and the Nasdaq Composite fell 0.15 percent, to 5,239.02. Eight of the 11 major S&P 500 indexes closed higher, led by real estate's 1.3-percent rise and a 1 percent increase in utilities.  The biggest weight on Nasdaq was Cisco Systems, which fell after rival Ericsson reported a huge profit decline.

In Bond Markets  longer-dated Japanese government bond prices rose on Thursday, with the Bank of Japan's regular debt-buying operation and follow-through support from a firm 30-year auction shoring up the market.  The benchmark 10-year JGB yield was unchanged at minus 0.065 percent, while the 20-year yield fell 1 basis point to 0.370 percent. The 30-year yield declined 1.5 basis points to 0.485 percent. The 10-year U.S. Treasury note yield rose to a four-month high of 1.80 percent overnight on fresh supply and reinforced expectations of a rate hike by the Federal Reserve later this year.

Source: Institute of Trading and Portfolio Management

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home2/sharonox/public_html/wp-includes/formatting.php on line 1828

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home2/sharonox/public_html/wp-includes/formatting.php on line 3603
By Xinyang October 13, 2016

Latest from MarketsDaily