Tough Session for Asia, Q3 2015 Earnings Season Continues
November 2, 2015 8:05 am
The United States’ Employment cost index fell in line with expectations at 0.6% on Friday. Wall Street closed lower last week with the tech heavy Nasdaq gaining 0.40%, the Dow Jones ended down 0.52% and the S&P finished 0.48% lower.
USD/YEN is currently around 120.662 and is up on the day approximately by 0.12%. EUR/USD is flat on the day, trading in the region of 1.10184. Asia endured a rocky session this morning, with the Shanghai Composite, the Hang Seng and the Nikkei closing down by 1.70%, 1.19% and 2.10% respectively. Asia’s difficulties have left some in the US questioning whether the Fed can or should raise US interest rates before the new year.
Oil was hit hard today due to poor expected demand from China. West Texas Intermediate crude is at $46.44 per barrel, down 15 cents. Brent Crude is trading around $49.50 per barrel, down 6 cents.
In the equities space, the Q3 2015 earnings season continues, with some companies feeling the after-effects of released figures. Colgate-Palmolive, for example, saw its sales slip by 8.7% in the third quarter, which the company blamed on the stronger US Dollar. The company’s share price is currently down by 1.33% at 268.75. Other companies felt the pressure prior to releasing their earnings numbers; Facebook, for instance, is due to announce its quarterly figures this Wednesday. The stock closed down by 2.77% on Friday at 101.97.
The United States’ Employment cost index fell in line with expectations at 0.6% on Friday. Wall Street closed lower last week with the tech heavy Nasdaq gaining 0.40%, the Dow Jones ended down 0.52% and the S&P finished 0.48% lower.
USD/YEN is currently around 120.662 and is up on the day approximately by 0.12%. EUR/USD is flat on the day, trading in the region of 1.10184. Asia endured a rocky session this morning, with the Shanghai Composite, the Hang Seng and the Nikkei closing down by 1.70%, 1.19% and 2.10% respectively. Asia’s difficulties have left some in the US questioning whether the Fed can or should raise US interest rates before the new year.
Oil was hit hard today due to poor expected demand from China. West Texas Intermediate crude is at $46.44 per barrel, down 15 cents. Brent Crude is trading around $49.50 per barrel, down 6 cents.
In the equities space, the Q3 2015 earnings season continues, with some companies feeling the after-effects of released figures. Colgate-Palmolive, for example, saw its sales slip by 8.7% in the third quarter, which the company blamed on the stronger US Dollar. The company’s share price is currently down by 1.33% at 268.75. Other companies felt the pressure prior to releasing their earnings numbers; Facebook, for instance, is due to announce its quarterly figures this Wednesday. The stock closed down by 2.77% on Friday at 101.97.
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