Subscribe to RSS

Market Overview :  Tweet Investors hope yuan devaluation will stop

American stocks retreated on Thursday, while the dollar slipped. This makes a Fed rate hike in September more likely. Yesterday macroeconomic data were generally positive. Retail sales increased 0.6% in July probably due to good labor market performance: unemployment has contracted 5.3% – the lowest record 2008. The average jobless number over four weeks has marked a minimum since 2000. Due to good statistics in recent weeks several investment banks increased the GDP forecast in the second quarter from 2.3% to 3% year-over-year, while Goldman Sachs even raised it to 3.5%. We would like to remind you that the official data will be released August, 27. Corporate reports, published on Thursday, appeared to be relatively neutral. The Cisco network equipment producer reported better-than expected earnings and income, its shares gained 2.9%. The Khol sales network earnings did not meet forecasts, so its shares slumped 8.8%. The American stocks turnover was 13% below the monthly average, making 6.2bln shares. Today at 14:30 CET July Producer Price indices will be released in the USA. The indicators will contain statistics from different economy sectors. At 15:15 CET Industrial Production Index will be published; at 16:00 CET University of Michigan will issue Consumer Confidence Index in August. The tentative outlook is positive. At 19:00 CET the Baker and Hughes will announce as usual operating oil rigs number in the US.

European indices have been expanding today after 3-day fall. Forex currency market quotes have been showing little changes. The reason is that there are factors supporting the dollar (yuan devaluation stopped) and factors that underpin the euro (the Greek parliament adopted the new austerity measures). Today at 11:00 CET second-quarter GDP is released in eurozone, the forecast is highly positive.

Nikkei has been traded in a narrow range today due to the lack of important macroeconomic data. Investors assess the impact the devaluated yuan may have on the Japanese economy. The yen has been traded flat as well.

The yuan devaluation may put pressure on commodity markets, since the measure is aimed to supporting the Chinese export, while import is contracting.

Gold futures and Dollar Index have been moving in opposite directions. This week gold showed the longest growth period since May, which lasted for 5 days. Meanwhile, the gold premium in Hong Kong remains the same it was the previous week – $1-$1.2 per ounce. It indicates that the demand in Asia is not that large. World Gold Council stated that the yuan devaluation would not affect the demand in China: this year it would total 1 thousand tons. The Shanghai Gold Exchange premium sticks to the last-week level of $4 per ounce, however, in India it showed a slight decrease to $1.1-$2.

Grain futures plummeted after US Department of Agriculture (USDA) unexpectedly raised crops forecast August, 12. The weekly drop in soy bean prices may be the sharpest since mid-January. USDA expects soy crops to amount to 3916bln bushels in the season 2015/2016 while cropping capacity will reach 46.9 bushels per acre.

National Weather Service raised the odds El Nino will develop next spring from 80% to 85%. However, today some farmers believe that it will bring rains to drought-ridden regions, increasing crops.

 

Coffee futures have been steadily growing. Coffee reserves in Brazil have contracted to the minimum since 1999 (4.66mln bags, 60 kilos each). Coffee crops are expected to grow this year to 47.28mln bags as compared to 46.78mln the previous year. Meanwhile, coffee production may decline to 15.23mln bags from 17.44mln.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$50 Free Bonus Without a Deposit – Adamant Finance

$50 Free Bonus Without a Deposit – Adamant Finance(0)

Free $50 Forex No Deposit Welcome Bonus to all new Traders. Receive $50 for Forex Free Bonus Without a Deposit and test the terms on a real account, without transfering any money. Link:  $50 No Deposit Free Welcome Bonus Ending Date: 31 December 2018 Available to: All new Traders Bonus Offer: Free $50 Forex No

Binary Options Free Demo Trading Tournament – CBFinvest

Binary Options Free Demo Trading Tournament – CBFinvest(0)

Binary Options Free Demo Trading Tournament total 2000$ cash prizes. Any Spotoption brand can start offering immediately binary options Tournaments, without spending a fortune on programming and without waiting for months Link:  Binary Options Free Demo Tournament Available to: All Customers AMAZING FEATURES Rebuys – for Tournaments based on demo, the feature of Rebuys allows

Risk Free Trading plus Free Forex Signals – MarketsYes

Risk Free Trading plus Free Forex Signals – MarketsYes(0)

300% Forex Deposit Bonus Promotion and Forex Risk Free Trade plus Forex Free Signals All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

50% Bonus of Every Deposit – Fort Financial Services

50% Bonus of Every Deposit – Fort Financial Services(0)

Up to 50% Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories