23rd June 2014 - Global Markets - Economic Indicators - Week Ahead
Asian Market Data as of 23rd June 2014
Moscow MCIEX 1,499.11 (-0.34%) Sydney ASX 5,432.70 (+0.58%)
Nikkei 225 15,369.28 (+0.13%) Hang Seng 23,068.95 (-0.54%)
Shang SSE Comp 2,024.27 (-0.12%)
As the month draws to an end with global indexes still either edging past or breaking record closes this week will provide a range of economic indicators that should confirm the general sentiment that the global economy is moving forward.
Data out of China this morning showed that for the first time in 6mths the country has expanded its manufacturing sector according to HSBC's preliminary PMI data. Any score over 50 is a sign of expansion and today saw over 50 for the first time this year. Forecast by Reuters to be 49.7 and with May's 49.4 the fact we saw 50.8 was a good sign. Last seen in November 2013, progression like this confirms that the stimulus the local government has put in place over the last few months is starting to show real world effect for the local economy. HSBC said that both domestic demand and overseas orders were up for June. This closes out the economic data for China until next month.
FTSE 100 6,825.20 (+0.25%) Dax 9,987.24 (-0.17%)
CAC 40 4,541.34 (-0.48%) BEL 20 3,166.15 (+0.18%)
Madrid IBEX 11,155.10 (-0.29%) Zurich SMI 8,701.61 (+0.31%)
The EU see's Markit's flash data on Comp PMI, Manufacturing PMI and Services PMI later today. All three are expected to have expanded and continued the line out of the Eurozone that the economy, for the majority of members is improving. Markets were expected to open higher today however there may have been some caution despite the positive news from China as this week also sees a host of data out of the US. At the end of the week we will receive consumer and business confidence figures along with industrial and economic sentiment which again is forecast to be higher than last month. The data Friday will no doubt have been buoyed by the European Central Banks rate announcement at the beginning of the month. With several European markets close to all time highs and issues of the Ukraine still far from resolution the region is performing better than expected.
Dow Jones 16,947.87 (+0.17%) NASDAQ 4,368.04 (+0.20%)
S&P 500 1,962.87 (+0.17%)
It's a busy week in the US for economic indicators. Starting today is the manufacturing flash, existing home sales data and the 3mth and 6mth bill auction. This sets the precedent for the week and data comes thick and fast, continuing with a range of housing data, key GDP Growth figures, personal spending data along with a range of localized manufacturing data. The week is expected to be positive and there are even thoughts that the Dow Jones may break 17,000 this week. So far the Dow has added 2.2% year to date with the S&P 500 trouncing that with a 6.2% gain in the same period. What may cool the US markets somewhat would be the price of oil. Breaking $115.71 last Thursday, the situation in Iraq with OPEC's 2nd largest exporter facing severe violence which continues to creep towards Bagdad will be of major concern and could be the one reason to cool the heels of investors in the US.
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