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Euro, Asian shares tumble after Paris attacks.

News Date: 16/11/2015 01:00:55
 

Asian shares were in the red as Paris attacks spread fears about consumer spending slowdown in France and the Eurozone, also data from Japan showed its economy contracting by 0.2% q\q, the second quarter contraction in a row, which indicates a technical recession. Japan's Nikkei lost 0.80%, while China's Shanghai index slipped 0.20%. Australia's S&P\ASX 200 index fell 0.76%. Korea's KOSPOI plunged 1.28%, while India's Nifty slid 0.32%.

 

Euro was affected negatively by the attacks, with its index losing 0.43% to 86.34. Euro fell to 1.0687 against the dollar, before recovering some losses to trade at 1.0722, with a 0.48% loss. Euro fell to a 3-1\2 month low against Sterling before recovering to 0.7047, with a 0.31% loss. It tumbled to a 6-1\2 month low against yen at 130.68, before pulling back to 131.28, still in the six-month nadir, with a loss of 0.60%.

 

Dollar rose modestly as investors began buying the safe haven U.S. treasuries, with the dollar index up 0.30% to 99.17. Dollar gained 0.15% against Sterling to 1.5214. It rose to a ten-day high against yen at 122.22, before losing some gains and trading at 122.45, with a 0.11% gain.

 

Wall Street futures point to a low opening today. U.S. indexes lost heavily on Friday, with Dow Jones closing down 202 points, or 1.16% to 17,245. S&P 500 closed with a 22-point loss, or 1.12% to 2,023. NASDAQ fell the most, 77 points, or 1.54% to 4,927.

 

Crude prices recovered some of their losses, with Brent futures for December up 47 cents, or 1.05% to $44.94 a barrel. U.S. oil futures gained 26 cents, or 0.65% to $41 a barrel.

 

Gold futures gained as well, rising $11.40, or 1.08% to $1,092.80 an ounce. Silver futures rose 16 cents, or 1.17% to $14.37 an ounce.  

 

Being released today, the Final CPI for the Eurozone, expected to stay the same for October as September at 0.0% y\y. Flat or negative inflation would push the ECB into more monetary easing in December to spur growth.  

 

From Canada, Manufacturing Sales for September are forecast to have grown 0.3% m\m, better than August's contraction of 0.2%. A high sales growth would push the loonie up and vice versa.

 

From the U.S., Empire State Manufacturing Index, which tracks New York State's manufacturing sector, is forecast at -5.3 for November, better than October's -11.4. A result lower than zero indicates worsening conditions, higher than zero indicates better conditions.     

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