DAILY UPDATE 26/08/2014

Transcription

1 Key Economic Data Results 26/08:- DAILY UPDATE 26/08/2014 Event Survey Actual Prior Revised Date Time PPI Services YoY 3.70% 3.70% 3.60% 3.70% 08/26/ :50 JN BBA Loans for House Purchase /26/ :30 UK Durable Goods Orders 8.00% 22.60% 0.70% 2.70% 08/26/ :30 US Durables Ex Transportation 0.50% -0.80% 0.80% 3.00% 08/26/ :30 US Cap Goods Ship Nondef Ex Air 0.70% 1.50% -1.00% 0.90% 08/26/ :30 US Cap Goods Orders Nondef Ex Air 0.20% -0.50% 1.40% 5.40% 08/26/ :30 US FHFA House Price Index MoM 0.30% 0.40% 0.40% 0.20% 08/26/ :00 US House Price Purchase Index QoQ 3.15% 0.81% 1.30% 1.31% 08/26/ :00 US S&P/CS 20 City MoM SA 0.00% -0.20% -0.31% -0.26% 08/26/ :00 US S&P/CS Composite-20 YoY 8.30% 8.10% 9.34% 9.37% 08/26/ :00 US S&P/CaseShiller Home Price Index NSA /26/ :00 US Consumer Confidence Index /26/ :00 US Richmond Fed Manufact. Index /26/ :00 US

2 Asian Markets The Day that was:- Asian stocks turned in a mixed performance on Tuesday despite a record close on Wall Street overnight. Investors kept a close eye on geopolitical developments amid concerns about company valuations and differing levels of recovery in the United States and Europe. Overall losses remained capped after European Central Bank President Mario Draghi raised expectations of further policy easing to stimulate the sluggish economy. Chinese shares fell sharply on concerns a batch of initial public offerings opening for subscriptions later in the week will put pressure on market liquidity. The benchmark Shanghai Composite index fell 0.99 percent to 2,207.11, marking its biggest single-day loss since August 7. Hong Kong's Hang Seng index declined 0.37 percent to 25, China's economy continued to expand in July at a steady pace, the latest survey from the Conference Board revealed today. Its leading index rose 1.3 percent in the month after a similar increase in June and the 0.7 percent gain in May. At the same time, the coincident index added 1.2 percent in July after gaining 0.9 percent in June. Japanese shares fell in thin trading amid profit taking after recent sharp gains as the yen strengthened for the first time in seven days. The benchmark Nikkei average dropped 0.59 percent to 15,521.22, while the broader Topix index shed half a percent. On the economic front, an index measuring corporate service prices in Japan rose 3.7 percent year-over-year in July, the Bank of Japan said - coming in at That was in line with expectations and unchanged from the previous month. Australian shares ended largely unchanged, as gains in banks offset losses in the mining sector. The benchmark S&P/ASX 200 index inched up 0.05 percent to 5, after snapping a seven-session winning streak yesterday. ANZ, Commonwealth, Westpac and NAB closed up between 0.2 percent and 0.5 percent. New Zealand shares rose, shrugging off mixed regional cues. The benchmark NZX-50 index gained 0.25 percent to finish at 5, Insurer Tower, which confirmed the sale of its residual life insurance business to Foundation over the weekend, rallied 2 percent to a 13-month high, exporter Fisher & Paykel Healthcare advanced 1.8 percent on a weak kiwi dollar, chemicals manufacturer Nuplex Industries advanced 2.3 percent and Fletcher Building, the country's biggest listed company, rose 1.1 percent. Auckland International Airport dropped 2.4 percent after reporting its annual results. In economic releases, data from the Statistics New Zealand showed that New Zealand saw a wider-than-expected merchandise trade deficit of NZ$ 692 million in July. Economists expected a shortfall of NZ$ 475 million following the NZ$ 247 million surplus in June.

3 XAUUSD: 0.34% High: Low: Close: Daily Support 1: Daily Support 2: Daily Resistance 1: Daily Resistance 2: Gold ended higher on Tuesday, notwithstanding rising global equity markets amid some upbeat durable goods and consumer confidence data from the U.S., even as the dollar trended higher against a select basket of major currencies. In some upbeat economic news, orders for U.S. durable goods surged by a record 22.6 percent in July. Meanwhile, consumer confidence in the U.S. continued to improve for a fourth consecutive month in August, with the consumer confidence index jumping to its highest level in almost seven years, a Conference Board report showed Tuesday. Nonetheless, geopolitical worries continued to plague the precious metal with the ongoing unrest in Ukraine and Libya contributing to bullion's rise. Investors focused on developments in Ukraine and the Middle East, look ahead to the meeting of Ukrainian President Petro Poroshenko and Russian President Vladimir Putin at a summit in Minsk in Belarus. Meanwhile, news reports say Ukrainian forces have captured some Russian soldiers near the Donetsk region. In the Gaza Strip, Israel has stepped up pressure on Hamas, bombing two high-rise structures in the city. Technical Insight: Today has seen the price of move higher even with better than expected results for the US. With the global tensions still stirring investors are using the yellow metal as a safe haven. The made a high of about $1290 before retracing and closing around the $1281 mark.

4 EURUSD: -0.19% High: Low: Close: Daily Support 1: Daily Support 2: Daily Resistance 1: Daily Resistance 2: EURUSD was down 0.19% at , from a session low of and high of The U.S. Commerce Department reported earlier that total durable goods orders, which include transportation items, surged by 22.6% last month, blowing past expectations for an increase of 7.5%. Orders for durable goods in June were revised up to a 2.7% gain from a previously reported increase of 1.7%. However, core durable goods orders, excluding volatile transportation items, contracted 0.8% in July, confounding forecasts for a 0.5% gain. Core durable goods orders rose by 3% in June. Separately, the Conference Board reported that its widely-watched consumer confidence index rose to 92.4 for August, the highest since October 2007, from 90.3 in July, whose figure was revised down from a previously reported Technical Insight: With no data out of the Eurozone today the dollar has strengthened against the euro after some better than expected data. Gains where however limited as core durable goods excluding volatile transportation items contracted. The price continues to trade at the 11 month low.

5 GBPUSD: -0.24% High: Low: Close: Daily Support 1: Daily Support 2: Daily Resistance 1: Daily Resistance 2: GBPUSD was down 0.24% at , from a session low of and a high of Industry data showed that U.K. mortgage approvals rose by 42,800 last month, less than the expected increase of 44,200, after a revised 43,200 rise in June. The U.S. Commerce Department reported earlier that total durable goods orders, which include transportation items, surged by 22.6% last month, blowing past expectations for an increase of 7.5%. Orders for durable goods in June were revised up to a 2.7% gain from a previously reported increase of 1.7%. However, core durable goods orders, excluding volatile transportation items, contracted 0.8% in July, confounding forecasts for a 0.5% gain. Core durable goods orders rose by 3% in June. Separately, the Conference Board reported that its widely-watched consumer confidence index rose to 92.4 for August, the highest since October 2007, from 90.3 in July, whose figure was revised down from a previously reported Technical insight: The dollar has strengthened against the pound sterling after some better than expected data. Gains where however limited as core durable goods excluding volatile transportation items contracted. The only UK data out today saw UK mortgage approvals rise however this was less than expected. The price continues to trade at the 4 month low.

6 KEY Data: 27 th August 2014:- Event Survey Actual Prior Revised Date Time Import Price Index MoM -0.10% % -- 08/27/ :00 GE Import Price Index YoY -1.40% % -- 08/27/ :00 GE GfK Consumer Confidence /27/ :00 GE MBA Mortgage Applications % -- 08/27/ :00 US DOE U.S. Crude Oil Inventories -2500K K -- 08/27/ :30 US On the 27 th August 2014 we see the release of very little data out the Eurozone and the US. The most notable release of the day will be the Crude Oil inventories. With the conflict in the Middle East and Russia the Crude Oil inventories are always a big release every week. For more information on Economic Releases, please see the below link: One Financial Markets is an execution only broker. The information contained herein is for general information purposes only, does not take into account your personal circumstances and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered reflects personal opinion and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.