frontpage hit counter

Commodities and equities going down


Friday started with publication of GDP data from Europe. Germany and the Eurozone wide data both disappointed. On the other hand, France topped expectations.

Asian shares fell today amid yesterday’s weak data from China showing slow down in pace of granting loans. Moreover yesterday member of FOMC, S. Fischer pointed out that there is a scope for hike in December. He also talked about dollar and inflation in US.

Today came very important data from USA. The core retail sales m/m and PPI came in below estimates. On contrary, the University of Michigan consumer sentiment surprising to the upside.

As for commodities, Oil ended the week trading at it’s lowest level since August losing over 10% since last Fridays close. WTI (-2,28%) dropped at $40,77 per barrel after the increasing in number of active oil rigs (here). Brent (-1,02%) followed it’s US counterpart lower trading $43.61. It’s been a quiet week for Gold (+0.03%) as the precious metal has consolidated and traded in a narrow range following heavy selling in the past month.

The European as well as American shares ended this week with significant losses. It was the worst week since August due to weak growth outlooks in Asia and Europe. Additionally, U.S. retail sales, which came in below expectation, didn’t help American indices. DJIA fell by 1,16%, S&P 500 dropped by 1,08% and Nasdaq slumped by 1,54%.


About Author