Subscribe to RSS

Markets slump on weak Chinese manufacturing report

US stock markets posted steep losses in the first trading day of 2016 on Monday as global slowdown concerns undermined investor confidence. The dollar strengthened, live dollar index data indicate the ICE US Dollar Index, a measure of the dollar’s value against a basket of six major currencies, edged up 0.2% to 98.837. The Dow Jones Industrial Average fell 1.58%, recording the worst start to a year since 2008. Investors sold off risky assets and bought haven assets like Treasuries and gold after China’s stock market plunged 7% following the Caixin report China’s factory activity contracted for the 10th straight month in December. The Nasdaq Composite ended lower 2%. The S&P 500 lost 1.53%, with all ten sectors finishing in the red led by financials, health-care and consumer discretionary stocks. The trading volume was about 8.5 billion shares on US exchanges, which is 18% above the daily average for the past 20 trading days. In economic news US manufacturing activity contracted further as Institute for Supply Management Manufacturing Index declined to 48.2% in December from 48.6% in November. US construction spending fell 0.4% in November instead of 0.6% expected gain. Today at 15:45 CET December ISM New York Index will be released in US.

European stock markets ended sharply lower on Monday as weak manufacturing data from China fueled concerns about global economic slowdown. The euro weakened against the dollar on weaker-than-expected German inflation data, trading at $1.0833 late Monday, compared with $1.0861 late Friday. The Stoxx Europe 600 index fell 2.5%, Germany’s DAX 30 sank 4.3% and was the hardest hit regional index, France’s CAC 40 and UK’s FTSE 100 indexes dropped 2.5% and 2.4% respectively. All sectors ended lower with auto stocks leading decliners with a 4.5% loss. Shares of Fiat Chrysler sank 37% after the car maker spun off luxury sports car manufacturer Ferrari, which edged up 0.5% in the first trading day after spin-off. In euro-zone manufacturing activity expanded at highest pace since April 2014 as manufacturing purchasing managers index came in at 53.2, up from 52.8 in November. At the same time the flash reading on German inflation indicated consumer prices rose just 0.2% in December year-over-year, compared with 0.3% in previous month. Today at 09:55 CET December Unemployment Rate and Unemployment Change will be released in Germany. The tentative outlook is neutral. And at 11:00 CET flash Consumer Price Index for December will be published in euro-zone. The tentative outlook is positive.

Nikkei extended losses and closed 0.4% lower today as yen edged down against the dollar after hitting 11 week high on Monday following the plunge in Chinese stocks. Chinese stocks are stabilizing today with Shanghai Composite Index switching between gains and losses after Chinese regulators said they may restrict stock sales by major shareholders, addressing concerns that major shareholders may move to sell around 1 trillion yuan of shares after a six-month ban on selling by large shareholders expires on January 8.

Oil prices are edging higher today after ending lower on Monday despite a rally spurred by growing tension between Saudi Arabia and Iran. Saudi Arabia on Sunday severed diplomatic ties with Iran as hundreds of Iranians protested against the kingdom’s Saturday execution of a prominent Shiite cleric. February WTI fell 0.8% to $36.76 a barrel on the New York Mercantile Exchange. February Brent crude settled down 0.2% to $37.22 a barrel on London’s ICE Futures exchange, reversing course after an earlier high of $38.99.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

150% Bonus for a First Time to Binary Trading – NordFX

150% Bonus for a First Time to Binary Trading – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December

100% Welcome Bonus Plus Daily Free Signals – Trade12

100% Welcome Bonus Plus Daily Free Signals – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:   Get 100% Welcome Bonus Link:  50% Exclusive Deposit Bonus Link:  Free Daily Forex Trading Signals Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX(0)

25 Euro Forex No Deposit Welcome Bonus to all EU and the UK  live Trading Account Holder. Open a real account direct instead of an demo account first and you will get a 25,- Euro Free. Link:  25 Euro Free Welcome Bonus Available to: All new account Ending Date: 31 December 2017 Bonus offer: 25

Up to $250 Cash in Your Expert Advisor – ThinkMarkets

Up to $250 Cash in Your Expert Advisor – ThinkMarkets(0)

Up to $250 Cash in Your Expert Advisor. Make the Move to Think Trader and Cash in Your Expert Advisor for Up to $250* Link:  Up to $250 in Your Expert Advisor Available to: All new account Ending Date: 31 December 2017 Bonus offer: Up to $250 Cash in Your Expert Advisor Bonus to all new

$30 Forex No Deposit Bonus Welcome Promo – XM

$30 Forex No Deposit Bonus Welcome Promo – XM(0)

$30 Forex  No Deposit Bonus Welcome Promo Bonus and 15% Welcome Deposit Bonus, Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus Link: 

50% Re-Deposit & 100% Tradable Bonus – Xtream Forex

50% Re-Deposit & 100% Tradable Bonus – Xtream Forex(0)

50% Re-Deposit Tradable Forex Bonus for all of its traders. Every existing and new trader is eligible for this Re-Deposit Tradable Bonus for depositing into their trading account. Link:  100% Tradable Deposit Bonus Link:  35% Deposit Cash Bonus Link:  50% Re-Deposit Forex Bonus 50% Re-Deposit Forex Bonus XtreamForex is glad to announce 50% re-deposit forex

Free $50 No Deposit Bonus and Start Trading – Trade360

Free $50 No Deposit Bonus and Start Trading – Trade360(0)

$50 Forex No Deposit Bonus is available only once for each client. Every verified user can use $50 No Deposit Bonus and get one or several investment accounts. Link:  $50 Forex No Deposit Required Bonus Link:  $280 CashBack Rewards Program Available to: All new account Ending Date: 31 December 2017 Bonus offer: $50 New No

200% Cashback Rebate Bonus up to $10000 – ForexTime

200% Cashback Rebate Bonus up to $10000 – ForexTime(0)

200% Forex Cash back Rebate Bonus up to $10,000, whether they’re first time depositors or returning clients. and get $4 Cashback back for every lot you trade. Link:  Loyalty Cashback Promotions Link:  200% Cashback Rebate up to $10000 Ending Date: 31 December 2017 Available to: All Customers Bonus Offer: ForexTime Rewards Loyalty in Withdrawable Cashback

$50 Free No Deposit Credit Bonus Promotion – GDMFX

$50 Free No Deposit Credit Bonus Promotion – GDMFX(0)

$50 No Deposit Credit Bonus Promotion 2017 to all new account. The $50 no-deposit bonuses is available for clients who open their first registration with GDMFX Link: $50 No Deposit Credit Bonus Promotion Available to: All new account Ending Date: 31 December 2017 Bonus offer: $50 No Deposit Credit Bonus Promotion 2017 to all new account.

100% Deposit Bonus and Forex Free Signals – Trade12

100% Deposit Bonus and Forex Free Signals – Trade12(0)

Forex Free Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Welcome Deposit Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  50% Exclusive Deposit Bonus Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100% Welcome Deposit Bonus Plus 7-day

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