Equities and commodities come under further pressure

Friday, September 26, 2014

Japan’s CPI fell to 3.3% in August compared to 3.4% in July, in line with Bloomberg’s estimates. Asian equity markets extended losses overnight, following the heavy sell-off across the US equities. The Nikkei index plunged more than 140 points (-0.88%), while the Hang Seng retreated sharply by 120 points (-0.50).

In the US, the Dow Jones index declined sharply by 264 points (-1.54%), giving back recent gains as concerns about a slowdown of the US economic growth weighed heavily on market sentiment. The NASDAQ sank almost 2% as concerns over Apple hurt market sentiment.  

Nasdaq Index

 CCMP Index (NASDAQ Composite Ind 2014-09-26 09-08-48

Germany’s GfK consumer confidence declined to 8.3 in October compared to 8.6 in September, missing analysts’ expectations. German import price index y/y fell by 1.9% in August following a decline of 1.7% in July, missing estimates of -2.0%. European equity markets tracked the general downside momentum and opened today’s session sharply lower with the DAX index falling towards 9,450.

DAX Index

DAX Index (Deutsche Boerse AG Ge 2014-09-26 09-09-10

 

Energy: Brent front month futures extended declines towards $96 per barrel, following the global downtrend while the strong USD weighed on market sentiment. The WTI front month contract held around $92 per barrel, with investors awaiting key US economic data including GDP data for Q3 2014 as well as the University of Michigan survey about current economic conditions and expectations.

   

Events for today:

 

0030

JP

Aug

CPI

0700

DE

Oct

GfK Consumer Sentiment

1330

US

Q3

Personal consumption

1330

US

Q3

GDP

1455

US

Sep

University of Michigan Survey

 

All times UK Local Time

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