US market sees mixed results in market data & Chinese shares fall
June 19, 2015 8:43 am
The United States saw mixed results yesterday with CPI and Core CPI both coming out 0.1% worse than predicted at 0.4% and 0.1% respectively. Unemployment claims however painted a better picture with a result of 267k filing for unemployment, beating the previous figure of 279k. As traders take in the Federal Reserve’s statement from Wednesday, they were confident by its insistence that rates will only be increased gradually. On Wall Street stocks rallied yesterday with the tech heavy Nasdaq closing at a record high rising 1.3%, the Dow Jones gained 1% and the S&P finished up 1%.
Dollar YEN pair continues to float around 123.00 level after the Bank of Japan governor Kuroda press conference turned out to be a non-event. EUR/USD failed to advance beyond the mid-1.1400s on Thursday, retreating to 1.1340 as Greek woes keep weighing on sentiment. Sterling was exhausted at the high of 1.5895 in the Asian session, after which the spot fell to 1.5859 Overnight in Asian markets, the Nikkei rose 0.9% from a one-month low set on Thursday. Chinese shares fell by more than 4% with the Shanghai Composite Index headed for its worst weekly decline since October 2008. The Chinext Index, which tracks smaller companies in the southern city of Shenzhen, has plunged 13 percent this week, close to a record.
In commodities, West Texas Intermediate crude moved lower to $60.41 a barrel. A stronger US dollar makes oil futures more expensive for holders of other currencies, whilst the budding for increased imports to the US could potentially pressure them yet further. Brent Crude dropped 8 cents to $64.18. Gold traded near $1,200 an ounce amid concern that Greece is stumbling toward a euro exit. AER LINGUS GROUP said it has started posting official IAG offer document, which will initially remain open for acceptance until July 16. The recommended €1.4bn takeover by IAG has given shareholders until 5:00pm July 16th to accept the offer. In early morning trading the stock was flat at €2.39 per share.
Later today at 1:30 UK time we have the Core CPI and Core Retail Sales in Canada. Analysts are forecasting 0.3% for both after their previous results of 0.1% and 0.5% respectively.
The United States saw mixed results yesterday with CPI and Core CPI both coming out 0.1% worse than predicted at 0.4% and 0.1% respectively. Unemployment claims however painted a better picture with a result of 267k filing for unemployment, beating the previous figure of 279k. As traders take in the Federal Reserve’s statement from Wednesday, they were confident by its insistence that rates will only be increased gradually. On Wall Street stocks rallied yesterday with the tech heavy Nasdaq closing at a record high rising 1.3%, the Dow Jones gained 1% and the S&P finished up 1%.
Dollar YEN pair continues to float around 123.00 level after the Bank of Japan governor Kuroda press conference turned out to be a non-event. EUR/USD failed to advance beyond the mid-1.1400s on Thursday, retreating to 1.1340 as Greek woes keep weighing on sentiment. Sterling was exhausted at the high of 1.5895 in the Asian session, after which the spot fell to 1.5859
Overnight in Asian markets, the Nikkei rose 0.9% from a one-month low set on Thursday. Chinese shares fell by more than 4% with the Shanghai Composite Index headed for its worst weekly decline since October 2008. The Chinext Index, which tracks smaller companies in the southern city of Shenzhen, has plunged 13 percent this week, close to a record.
In commodities, West Texas Intermediate crude moved lower to $60.41 a barrel. A stronger US dollar makes oil futures more expensive for holders of other currencies, whilst the budding for increased imports to the US could potentially pressure them yet further. Brent Crude dropped 8 cents to $64.18. Gold traded near $1,200 an ounce amid concern that Greece is stumbling toward a euro exit.
AER LINGUS GROUP said it has started posting official IAG offer document, which will initially remain open for acceptance until July 16. The recommended €1.4bn takeover by IAG has given shareholders until 5:00pm July 16th to accept the offer. In early morning trading the stock was flat at €2.39 per share.
Later today at 1:30 UK time we have the Core CPI and Core Retail Sales in Canada. Analysts are forecasting 0.3% for both after their previous results of 0.1% and 0.5% respectively.
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