Noble Apex-Weekly Market Commentary

2018-11-22 01:08
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21/11/2018

It is reported that the Fed may suspend the rate hike cycle as early as next spring, while Goldman Sachs and JPMorgan Chase still maintain the forecast of five interest rate hikes by the end of 2019. The EU vetoed Italy’s 2019 budget plan. Merkel, German Chancellor, said the Brexit agreement must be signed at the Sunday summit. It is reported that he United States decided not to send Navarro, the White House trade adviser, to meet with Trump and Xi Jinping.

  • The Dow Jones Industrial Average closed at 24,464.69 points, decreased by 0.95 points or 0.00%. The S&P 500 Index closed at 2,649.93 points, increased by 8.04 points or 0.30%. The NASDAQ index closed at 6,972.25 points, increased by 63.43 points or 0.92%.
  • MNI reported that the Fed will start to consider at least a moratorium on the gradual tightening of monetary policy, and may stop the rate hike cycle as early as next spring.
  • US Commercial equipment orders in October were weaker than expected, indicating that the growth momentum is cooling due to the Sino-US trade war.

  • The UK’s FTSE 100 index closed at7,050.23 points, increased by 102.31 points or 1.47%. The Frankfurt DAX index closed at 11,244.17 points, increased by 177.76 points or 1.61%. The French CAC40 index closed at 4,975.50 points, increased by 50.61 points or 1.03%.
  • OECD claimed if the global economy falls into a sharp decline, it will need to cut taxes and increase spending. Growth is slowing down due to unfavorable trade conditions, tight financial conditions and rising oil prices. The OECD predicts that global GDP growth is 3.7% this year while it is 3.5% next year.
  • Merkel, German Chancellor, said that the Brexit agreement must be signed at the Sunday summit. A German government spokesman said that Germany does not think it is necessary to renegotiate the draft of Brexit agreement.

  • Japan’s Nikkei 225 index closed at 21,507.54 points, decreased by 75.58 points or 0.35%. The Japanese YEN closed at 113.120 against the US dollar, increased by 0.592%.
  • According to data from the Japan Chain Store Association (JCSA), Japan’s national supermarket sales ended the two-month decline, it increased from fall 4.6% to rise  2.7% in October.

  • The Shanghai Composite Index closed at 2,651.51 points, increased by 5.65 points or 0.21%. The Shanghai and Shenzhen 300 Index closed at 3,226.49 points, increased by 8.08 points or 0.25%. The RMB closed at 6.939 against 1 US dollar, increased by 0.068%.
  • The Shanghai and Shenzhen Stock Exchanges recommends shortening the suspension time to prevent suspension of trading. According to a statement issued on Wednesday night, the reorganization suspension period must not exceed 10 trading days. Previously, if a listed company had a “significant asset restructuring”, it could be suspended for up to three months.
  • The option market indicates that Renminbi volatility has intensified, with the one-month Delta 10 USD/offshore Renminbi butterfly option hitting the highest level since January last year, and foreign exchange experts say high volatility will continue.

  

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