Market news:
Most Asian stocks traded lower Friday, amid some bad earnings reports and profit-taking ahead of the G20 meeting.
The
G20 meeting starts today in Moscow, and will continue tommorrow, which
will no doubt be dominated by talk of currency wars. Keep an ear out on
any announcement coming from the meetings, as the attending officials tend to talk with reporters throughout the day, though major news will probably come out tomorrow.
The EUR has continued to weaken against most of the major currencies this morning, following yesterday’s dismal Gross Domestic Product data across Europe.
Intraday options that are due to expire today at 15:00 GMT.
EUR/USD – 1.3400
USD/JPY – 92.00, 92.25, 93.00
AUD/JPY – 96.00
Important economic data scheduled for today:
09:30 Retail Sales (UK) – Previous: -01%, forecast: 0.5%. It measures
the change in the total value of inflation-adjusted sales at the retail
level. It is the foremost indicator of consumer spending, which
accounts for the majority of overall economic activity.
13:30 Empire State
Manufacturing Index (US) – Previous: -7.8, forecast: -2.1. The index
rates the relative level of general business conditions New York state. A
level above 0.0 indicates improving conditions, below indicates
worsening conditions. The reading is compiled from a survey of about 200
manufacturers in New York state.
14:55 Prelim UoM Consumer
Sentiment (US) – Previous: 71.3, forecast: 74.8. The University of
Michigan Consumer Sentiment Index rates the relative level of current
and future economic conditions. There are two versions of this data
released two weeks apart, preliminary and revised. The preliminary data
tends to have a greater impact. The reading is compiled from a survey of
around 500 consumers.
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