Trading news

DAILY REPORT 07 – OCTOBER – 2015

EUR/USD

 

The euro traded higher against the dollar yesterday following the release of negative US economic data. The figures released from the US side diminished confidence in the future of the world's largest economy, and reduced the demand for the US dollar. The Trade Balance issued yesterday for the month of August, showed an expansion in the trade deficit gap worth 48.33 billion dollars.

European Economic Data
Time GMT Event Vol Forecast Previous
 07:00 Non Monetary Policy ECB Meeting    
American Economic Data
Time GMT Event Vol Forecast Previous
11:00 MBA Mortgage Application (Oct 2 )   -6.7%
14:30 EIA Crude Oil Stock changes (Oct 2) 1.750M 3.955M

GBP/USD

 

The pound rose against the US dollar in spite of the declining British data released as Halifax index of house prices and the Shop Price Index fell in September but the widening deficit in the US trade balance support the pound against the US dollar.

British Economic Data
Time GMT Event Vol Previous Forecast
08:30 Industrial Production (Aug) 0.3% -0.5%
08:30 Manufacturing Production (Aug) 0.3% -0.8%
08:30 Industrial Production (Yearly) 1.2% 0.8%
08:30 Manufacturing Production (Yearly) -0.1% -0.5%
14:00 GDP Estimate (Sep)   0.5%

 

 

 

 

 

 

 

 

 

 

 

 

USD/JPY

 

The US dollar fell against the Japanese yen after the rise in the JPY Foreign Reserves Index in Japan and the negative data released from the US side, thus eliminating any possibility of a US interest rate hike in the near future.

Japanese Economic Data
Time GMT Event Vol Previous Forecast
23:50 Current Account (Aug) 1.221B 1.808B
23:50 Machinery Orders(Aug) 2.4% 2.8%
23:50 Trade Balance – BOP Basis (Aug)   108B

 

 

 

 

 

 

 

 

 

AUD/USD

 

The Australian dollar traded higher against the US dollar, after the Australian interest rate was kept unchanged at 2.00% for the fifth meeting.

Australian Economic Data
Time GMT Event Vol Forecast Previous
  No Economic Data      

 

 

 

 

 

GOLD

 Gold prices rose after the United States announced yesterday the trade balance data during the month of August show the expansion of the trade deficit gap worth 48.33 billion dollars.

OIL

 

Crude oil prices rose and recorded its highest level in two months. This rise was supported by a weak US dollar and expectations of a decline in US stockpiles of crude oil.

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Disclaimer
All market information provided in the ICM Capital Daily Market Outlook is based on several independent sources believed to be reliable and are written in good faith. This information  does not represent personalised investment advice nor a solicitation for the trading of any investment or any trades. The prices and news mentioned in this outlook are absolutely no guarantee of future market performance. There are risks associated with any investment and we strongly encourage readers to supplement the information in this Market report with independent research and other professional advice before making any investment decisions.
 
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Wednesday, 07 Oct, 2015 / 1:02

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