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Sensex Ends Day On A Tepid Note; Energy Stocks Top Gainers
After opening the day in the red, share markets in India witnessed volatile trading activity throughout the day and ended the day on a weak note. Losses were seen across most sectors with stocks in the banking sector and stocks in the healthcare sector, leading the losses. At the closing bell, the BSE Sensex stood lower by 25 points (down 0.1%) and the NSE Nifty closed lower by 24 points (down 0.2%). The BSE Mid Cap index ended the day flat, while the BSE Small Cap index ended the day lower by 0.1%. Asian stock markets finished higher in green. As of the most recent closing prices, the Hang Seng was flat and the Shanghai Comp... -
Finance 0
Asia Ex Japan Contributes 60% Of Global Merchandise Exports
Global merchandise exports at US$250bn, Asia ex Japan contributes 61% of world value Merchandise exports are retail goods exported to foreign markets High growth signals that the economic activities in that country are booming Asia ex Japan contributed only 39% in 1996, has nearly doubled... -
Finance 0
USD/CAD: Towards 1.25 Or 1.30 By Year-End?; NAFTA Negotiations Key – BTMU
Dollar/CAD is looking for a new direction after consolidating earlier. What’s next? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that CAD has been undermined in the near-term by renewed concerns over the ongoing NAFTA negotiations. “In the latest round of talks, the US has put forward more radical proposals for change which are likely to be unworkable for Canada and Mexico. The US proposals include: i) a sunset agreement which would require NAFTA being reapproved every five years, ii) changes to the “rules of origin” to raise the proportion of value added by member countries... -
Finance 0
Global Fixed Income: Running On Empty?
Through the first nine months of the year, the global fixed income markets continued to defy the odds. Indeed, year-to-date, a variety of bond arenas have posted visible positive performances, continuing the trend that investors have been accustomed to for almost two years now. The more important question is whether this past performance can be maintained in the months ahead, or is the global bond market rally finally running on empty? The emerging market (EM) debt space continued in the top spot, experiencing the best performance in the fixed income universe through the third quarter and building on the positive momentum that was seen for ... -
Finance 0
Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins
World stocks stayed near peaks and currencies moved in tight ranges on Wednesday as China’s 19th Communist Party Congress opened while focus in Europe turned to speeches from top euro zone central bankers before next week’s key policy meeting, as well as Catalonia’s ultimatum due on Thursday. S&P futures are solidly in the green as usual, with Dow futures jumping above 23,000, driven higher by IBM as investors looked for new reasons to extend gains after hitting new all-time highs Tuesday. The dollar continues to strengthen, buoyed by speculation that the next Federal Reserve chair will be more hawkish, as volatility in major cu... -
Finance 0
EURUSD: Today’s Situation Is 50/50
Previous: Yesterday, Tuesday, the US dollar continued its growth against the majors. In the US session, the euro dropped to 1.1736. Market participants share the opinion that the dollar’s rise in the first half of the day was down to talk that John Taylor, an advocate of tight monetary policy, could become the next Chair of the US Federal Reserve. Donald Trump is expected to announce his choice for the post before the 3rd of November. With the support of some of the euro crosses, the daily candlestick on the euro/dollar instrument closed at 1.1766. Day’s news (GMT+3): 02:30 Australia: Westpac leading index (Sep); 11:10 Eurozone: ECB pres... -
Finance 0
Real M0 Money Supply’s Trend Is Positive For Second Month
Federal Reserve officials have been talking up the odds of another hike in interest rates and the Fed funds futures market is pricing in a near certainty of no less for the December monetary policy meeting. But the case for tighter policy may not be as strong as it appears, based on the latest data for M0’s real (inflation-adjusted) year-over-year change. The Fed’s narrowest gauge of money supply – aka M0, the monetary base, or “high-powered” money – continued to rise in September vs. the year-earlier level in real terms. The 1.4% advance follows August’s 0.3% rise — the first run of back-to-back increases in nearly two ye... -
Finance 0
Merck Upgraded To Buy From Neutral At Citi
Citi analyst Andrew Baum upgraded Merck (MRK) to Buy and raised his price target for the shares to $72 from $65. The healthcare giant closed yesterday down 12c to $63.22. While Merck’s non-Keytruda business continues to erode, the market is undervaluing both the ultimate patient derived xenograft market size and Merck’s likely market share with Keytruda, Baum tells investors in a research note. The analyst revised his initial PDx market estimates of $35bn to at least $50bn and increased his 2025 Keytruda forecasts from $9B to$15B. The analyst prefers Eli Lilly (LLY), Bristol-Myers (BMY) and Merck among the U.S. pharmaceutical majo... -
Finance 0
AUD/USD Elliott Wave Analysis – October 18
AUD/USD Elliott Wave structure suggests that the decline to 0.7731 on October 6th low ended Primary wave ((W)). From there, Primary wave ((X)) bounce is unfolding as a double three Elliott Wave structure. Rally to 0.7807 ended Intermediate wave (W) of ((X)) and pullback to 0.7815 ended Intermediate wave (X) of ((X)). A break above Intermediate wave (W) at 0.7815 will give more validity to this view. Until then, a double correction in Intermediate wave ((X)) is still possible. Near term, while pullbacks stay above 0.7815, but more importantly above 10/6 low at 0.7731, expect pair to extend higher. AUD/USD 1 Hour Elliott Wave Chart Double ... -
Finance 0
UK Unemployment Rate Stays At 42-Year Low
UK job market absorbed more slack in the three months through August, according to the Office for National Statistics. The unemployment rate stood at 4.3 percent during the period under review, below the 4.5 percent regarded by the Bank of England as the equilibrium rate. The total number of people actively looking for work fell 52,000 to 1.44 million in the last period, while the number of those that were gainfully employed surged by 94,000 to 32.1 million. At 75.1 percent, the jobless rate is slightly below the record 75.3 percent recorded in May to July. Also, while wage growth climbed slightly higher than expected, rising by 2.2 percent f...
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