April 6, 2016
|01:45||CNY||Caixin Services PMI||51.2||51.4|
|06:00||EUR||German Industrial Production m/m||3.3%||-1.8%|
|14:30||USD||Crude Oil Inventories||2.3M|
|18:00||USD||FOMC Meeting Minutes|
Asian markets were broadly and sharply lower Tuesday as the losses on Wall Street overnight and a continued fall in crude prices weighed on investor sentiment. The mainland Chinese Shanghai Composite was the lone bright spot in the region, gaining 1.45% in response to additional stimulus measures from Beijing and recent improved economic data. Hong Kong’s Hang Seng fell 1.57% as investors were more concerned with falling crude prices than the gains from mainland China. The Nikkei in Japan suffered the worst losses, falling by 2.42% thanks to the continued strength of the Yen against the U.S. dollar. In Australia falling crude and other commodities weighed on the market and sent the S&P/ASX 200 1.42% lower. Elsewhere South Korea’s Kospi ended the day 0.82% lower, while the Straits Times Index in Singapore was off by 1.21%. European markets ended the session broadly lower after a measure of German factory orders disappointed investors by coming in much weaker than expected. The Stoxx Europe 600 ended with a 1.90% loss, while Germany’s DAX led the region lower as it fell 2.63% and the CAC 40 in France was off by 2.18%. With markets across Europe sliding lower, London traders decided to take profits and sent the FTSE down 1.19% for the day. Losses from Europe washed up on the shores of America as markets there fell in response to the European rout, and as investors worried about a slowdown in global growth. By the close the S&P 500 was 1.01% lower, the Dow notched its worst day in 6 weeks with a 0.75% loss, and the Nasdaq dropped 0.98%.
EUR – The Euro was mixed on Tuesday as it firmed against the Pound, fell versus the Yen and ended basically unchanged against the USD, erasing earlier losses versus the greenback.
GBP – The Pound remains under pressure due to Brexit fears and fell broadly against rivals again on Tuesday.
USD – The USD finished Tuesday mixed, though it did show some late session strength. By the end of the session the USD was unchanged against the Euro, while firming versus the Pound and falling against the Yen.
JPY – Rising risk aversion and safe haven demand led the Yen to strong gains Tuesday as it firmed broadly against rival currencies.
TRY – The Lira fell against most major currencies Tuesday, but managed to end unchanged versus the Pound.
RUB – The Ruble showed some slight softness at the close of Tuesday’s session, even though crude rebounded from earlier losses.
Metals – The global rout in equities Tuesday killed risk appetite and helped lift the precious metals on safe haven demand. June gold was up $10.80 at $1,230.10 an ounce. May silver was up $0.151 at $15.095 an ounce.
Oil – Crude bounced back from early losses as traders continue to hold on to the possibility of a production freeze coming from a meeting of top oil producing nations later this month. Crude futures for delivery in May ended with a modest gain of $0.19, or 0.5%, to settle at $35.89 a barrel.
S&P500 – The S&P opened lower in reaction to the losses across Europe and the weak German factory order data. Investors remained worried about global growth all day and the S&P ended the day with a 1.01% loss and remained in positive territory for the year by just 0.1%.
DAX – The DAX opened sharply lower in the wake of German factory order data, which showed a 1.2% contraction in February versus expectations for a small gain. Investors remained disappointed and the index remained at session lows all day to close with a 2.63% loss.
Nikkei – The Nikkei opened lower in response to the overnight weakness from U.S. markets and continued falling all day as the Yen strengthened steadily against the USD. By the end of the trading session the Nikkei was 2.42% lower as the USD/JPY fell to a 17 month low beneath the 111.00 level.
JPMorgan Chase & Co. – After rising throughout 2015 for a 6.56% gain as investors hoped for interest rate hikes from the Federal Reserve, shares of JPMorgan have had a dismal 2016. After closing out 2015 at $66.03 a share, the stock has dropped to roughly $59 a share as the Federal Reserve has ruled out four interest rate hikes this year, and based on recent statements may not even complete the forecast two rate hikes. That said, the stock is trading above the 50 day moving average, which looks to be providing support. And the 50 day moving average line has recently turned higher, so we have a possibility of gains from the stock in the short term, but in the medium term it remains in a downtrend.
Trading in Binary Options, Forex/CFD carry a high level of risk to your capital due to the volatility of the underlying market. These products may not be suitable for all investors. Therefore, you should ensure that you understand the risks and seek advice from an independent and suitably licensed financial advisor.
In just a few short steps you can be trading with 24option’s awards winning platformI already have an account
You can upload your documents using your mobile phone.
Please confirm your mobile number
A text message has been sent to your mobile phone. Please click on the link that is attached and continue to upload your documents.
Join an award winning broker
COMPANY INFORMATION: This website (www.24option.com/international) is operated by Richfield Capital Limited a Company regulated by the International Financial Services Commission with license number IFSC/60/440/TS/17 (click here).
Wonderbridge services limited , Kolonakiou 39 Agios Athanasios, 4103 Limassol, Cyprus , is a subsidiary of Richfield Capital Limited , No 5 Cork Street, P.O. Box 1708, Belize City , Belize
RISK WARNING: Binary Options and Contracts for Difference (‘CFDs’) are complex financial products, the trading of which involves significant risks. Binary Options trading may result in the loss of your investment whilst CFDs trading, which are marginal products, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. Traders of Binary Options and CFDs do not own, or have any rights to, the underlying assets. Trading Binary Options and/or CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Richfield Capital Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Richfield Capital Limited is not a financial adviser and all services are provided on an execution only basis. Please read our Risk Disclosure Notice and Legal Documents before using our services.
REGIONAL RESTRICTIONS: 24option brand does not offer services to residents of certain jurisdictions such as the USA, British Columbia, Canada, Australia, Belgium, France and some other regions. Find out more here.
Register now and start trading anytime, anywhere.
Don’t have an account? Sign up
Like all investment opportunities, trading Forex and CFD involves risk of loss but with access to support, an education center and risk-management tools, you can increase your odds of success and open a trade with just $24!