15th July 2014 - Global Economic Indicator Review
Asian Market Data as of 15th July 2014
Moscow MCIEX 1,483.41 (-1.09%) Nikkei 225 15,402.72 (+0.69%)
Hang Seng 23,440.93 (+0.40%)
Shang SSE Comp 2,067.27 (+0.03%)
Markets in Asia are posted gains today ahead of a string of key indicators out of China and a good day in the United States. Today see's the culmination of 2 days of meetings with the Bank of Japan. Although not much is expected to be announced apart from a slight revision in growth forecasts. It is a big week for China. Today they released data on Foreign Direct Investment which reported an improvement of 2.2% and new loans came in well above expectation. Expected to be in the region of 915bn Yuan the actual loan amount lent in June rose to over 1tn Yuan ($173.9bn) which proves that the policies implemented earlier in the year have started to take effect. Later this week will see GDP Growth rates, Retail Sales and at the end of the week and indication on the House Price Index.
FTSE 100 6,746.14 (+0.84%) Dax 9,783.01 (+1.21%)
CAC 40 4,350.04 (+0.78%) BEL 20 3,118.95 (-1.32%)
Zurich SMI 8,565.67 (+1.15%)
Markets in Europe shrugged off concerns over the state of one of Portugal's largest banks, Banco Espirito Santo and the issues surrounding their parent company. With the Portuguese government on just exiting the EU and IMF bailout they were very quick to confirm that the bank which halted trading last week was not in danger and had enough reserves to not need any local intervention. This comes in a week whereby the European Parliament is due to swear in a new President in Jean-Claude Juncker and a range of economic indicators which many will hope will be better than last month and show some sign of expansion. On Wednesday the Balance of Trade is announced, followed on Thursday by key construction output and core inflation figures with Friday providing the Current Account for the Eurozone.
Dow Jones 17,055.42 (+0.66%) NASDAQ 4,440.42 (+0.56%)
S&P 500 1,977.10 (+0.48%)
As a week of earnings kicks off the US is also subject to a very busy week of economic indicators. With the head of the Federal Reserve being in front of the Senate for the past day, her speech later this afternoon is expected to continue along the same format as nearly all her speeches since coming into office in February this year. We know that the Fed asset buying program is coming to an end yet we now hear she believes that further QE, albeit of a lesser extent will be required even when the economy has reach their preferred level. Today the US releases data on Chain Store and Retail Sales along with figures on Import and Export Index. Later in the week Core PPI data, Industrial and Manufacturing production will be released and the week closes out with some Jobless data and Building Permits.
There is a vast amount of information due this week and it will be a key time for the markets as we look to see whether the hard work spent in the 2nd quarter of 2014 has really paid off.
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