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

Monthly Live Trading Contest win up to $1000 – Tickmill

Monthly Live Trading Contest win up to $1000 – Tickmill(0)

Forex Monthly Live Trading Contest. Put your forex trading skills to test and win up to $1000 every Month! Forex Live Trading Contest is only available for clients of Tickmill Ltd.(FSA Regulated) Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest Available to: All new traders

Up to 200% Withdrawable Cashback Rebates – ForexTime

Up to 200% Withdrawable Cashback Rebates – ForexTime(0)

Forget Loyalty Points, ForexTime Rewards Loyalty in Up to 200% Withdrawable Cashback Rebates Bonus and get $4 Cashback back for every lot you trade. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December

Get $50 Free Bonus Start Forex Trading Bitcoin – UFX

Get $50 Free Bonus Start Forex Trading Bitcoin – UFX(0)

Get a $50 Free Bonus Start Forex Trading Bitcoin with UFX. Forex Trading Bitcoin with UFX is simple and gives you the opportunity to increase your return whether BTC prices RISE or FALL Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Link:  100% Real

Up to $1000 Forex Deposit Bonus Promotion – FortFS

Up to $1000 Forex Deposit Bonus Promotion – FortFS(0)

Up to 50% Forex Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% forex 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

FX Circuits Live Forex Trading Contest – Forex Time

FX Circuits Live Forex Trading Contest – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

20% Unlimited Bonus on Your First Deposit – FidelisCM

20% Unlimited Bonus on Your First Deposit – FidelisCM(0)

20% Unlimited Bonus On Your First Deposit to All new traders. If you have a $30 Deposit Account with FidelisCM then add wings to your ambitions and receive a 20% Tradable Bonus Link:  20% Bonus On Your First Deposit Available to: All new traders Ending Date: 30 June 2017 Bonus Offer: Get 20% Unlimited Bonus

100% Real Money Cash-Back Bonus Promotion – UFX

100% Real Money Cash-Back Bonus Promotion – UFX(0)

100% Real Money Forex CashBack Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  $5000 BitCoin Rewards Bonus Promo Link:  $50 Forex No Deposit Special Bonus Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Bonus

Get 25 EUR Welcome Free Forex Promotion – Tradeiam

Get 25 EUR Welcome Free Forex Promotion – Tradeiam(0)

Get 25 EUR Welcome Free Forex Promotion first 100 persons who become a client of the Tradeiam Company in any country. The Free Bonus amount of €25 will be deposited by the Company in the Clients Trading Account Link:  25 EUR Free Welcome Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus

100% Bonus on your $100 Minimum Deposit – AvaTrade

100% Bonus on your $100 Minimum Deposit – AvaTrade(0)

100% Forex Special Bonus Offer to your first deposit Up to $300. Start trading today and in honour of our Irish roots we’ll give you a St. Patricks Day special bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus offer:

100% Binary Cash Match up to $1000 – Markets World

100% Binary Cash Match up to $1000 – Markets World(0)

100% Binary Options Cash Match up to $1000. We’ll match your first deposit with up to $1000 To claim this match , simply enter voucher code 100CM in the deposit section. Link:  $10 Binary Options No Deposit Bonus Link:  100% Binary Options Deposit Bonus Bonus Ending Date: 31 December 2018 100% Binary Options Cash Match

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