August 15, 2016
As at today the 12th of August 2016, the global shares have dithered as rallies in Asia and in the United States fell on the brink of China’s release of comparatively weak data for the month of July.
Investors are currently hoping ahead for the release later in the day for the United States retail sales figures.
DAX of Germany fell around 0.3% to 10,707.95, while France’s CAC 40 lost around 0.1% to 4,501.26! Britain’s FTSE 100 rose 0.7% to close at 6,914.71.
Wall Street seems prepared for some volatility – with S&P futures up 0.1% while Dow futures down to around 0.2%.
For the Chinese, one of its officials has risen to encourage firms and investors that the progress within the world’s 2nd largest economy is unwavering even after the government stated its trading deals raised to about 10.2% in July from an earlier year – down from the month of June 10.6% growth.
Chinese factory yield rose to around 6% in July about a year past, down from 6.2% in June.
One of the spokesmen for the NBS – National Bureau of Statistics – mentioned that the weakness was due relatively to certain factors such as the summer flooding that triggered about 200 Billion Yuan i.e. $35 billion equivalent in losses.
The officials say the trend is not bad as related in a news conference. Despite that the economic growth plunged slightly, the economy is seen to be stable and making steady advancement.
Benchmark U.S. crude picked up at 6% to close at $43.56 per barrel in automated trading on the NYME ‘New York Mercantile Exchange’. It increased by $1.78 or say 4.3% to close at $43.49 per barrel in New York. And then Brent crude, which is utilized to price international oils – plummeted, losing around 16 cents to close at $45.88 per barrel. It however increased by $1.99, or say by 4.3% to close at $46.04 per barrel in London.
The U.S dollar went up to 102.04 yen from 101.86 on Thursday, while the Euro picked up to $1.1157 from $1.1137.
While there are some pointers to consider, there is no cause for alarm says the pros!