Another positive finish on Wall Street last night has failed to push the European markets up this morning ahead of the most important economic data release, US Non Farm payroll number. As we stand, this report today is more likely to provide us only clues that what can be unfolding over the next coming few months. Provided that the NFP data for the month of August was on a weaker side, the expectations are very much same for this month which could keep the dollar on the softer side.Read More
US futures and European markets are up; while NFP data for the US and economic indicators for Europe are in focus
US Markets recorded another record high on Friday and the European markets also echoed similar sentiment after posting a third successive positive week. US stock futures and European markets are off from their high and are trading mix, but investors are optimistic about the economic growth and that the central bank would continue to support their investments.
A cautious mood is generally the idea among traders today, as we are set to unravel the batch of the delayed US economic data. The US non farm payroll data will kick start the economic engine tomorrow and if there was no government shut down, this economic data could have been the key factor in determining the tapering quiz for the Federal Reserve’s chairman, Ben Bernanke.Read More
US futures and European markets are trading higher once again after a record close by the S&P on Wall Street last night. The Chinese economic data- which came out at a much better level than anticipated has also helped the trader’s appetite for riskier assets.
The Chinese GDP for the third-quarter came in at 7.8% which was well above from the previous quarter’s reading of 7.5% and thus, confirming that the growth in the country is on the right track. However, the retail sale number for the country did raise some eyebrows when it came in at 13.3%; on a softer side and below expectations of 13.5%- given that the country is trying to boost its domestic consumption.Read More
Asian markets closed mostly higher by erasing some of their losses which were made yesterday. It certainly seems that the politicians have got hold of common sense and thought that for once they should make a use of this and put an end to this government shutdown and raise the debt ceiling. However, if they have made use of all the brain cells that they have, perhaps not, because the entire circus would return to the capital as government shutdown compromise has kicked the can till 15th of January and the debt ceiling until 7th of February.Read More
European markets are trading mostly lower during the early hours of trading by erasing some of their gains which were made yesterday. Investors are focused towards Washington and wondering if the politicians can finally understand the urgency of resolving this political gridlock which has once again called for Deja vu. The rating agency, Fitch, has put the biggest economy of the world, U.S on a negative watch due to illiterate attitude which politicians are using to resolve the debt ceiling and the government shutdown dispute.Read More
The irrational gains in the equity market which we’ve seen towards the end of the last week on the back of the optimism that there could be a resolution over the US debt ceiling has evaporated this morning. Thanks to the violent reaction shown by the angry traders this morning who are pushing the sell button, as we head towards the third week of the US government shutdown with no resolution insight.Read More