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Daily Review - by TrioMarkets 9/5/2016

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1Daily Review - by TrioMarkets 9/5/2016 Empty Daily Review - by TrioMarkets 9/5/2016 Mon Sep 05, 2016 5:23 pm

Trio Markets Broker EU

Market Overview: Expect a quiet day with soft European macroeconomic news and USA participants to stay away from Labour Day.  NFP number fail to surprise positively the markets last Friday however still there are many who believe that Fed will hike later this month. We do not believe that Fed will hike later this month unless there is a secret plan from Yellen  to rise rates in order to cause a market turmoil and extra uncertainty which can favor at this stage H. Clinton or at least burn the next president (possibly D. Trump)…. As we have repeated before the most worry thing is not the conflict and weak USA macroeconomic numbers but the conflict statements from high ranking Fed officials who appeared very confident about domestic economy.. however the numbers so far do not verify their optimism
I see some opportunities to buy European equities at lower levels for today as are oversold compare to USA stock market. Also the last week’s soft European macro data will increase pressure to Draghi for more stimulus while the BoJ later this month will probably will rise and extend QE

Key points:
• Japan’s 10-yr bond yield hits six-month high
• European stocks hit three-month high
• Gilt yields rise to four-week high
• Japan PM Abe says downside risk to global economy increasing
• BOJ's Kuroda speech - Limits to what the BOJ can do
• Kuroda: Can deepen rates further into neg territory, but we must consider the costs
• Kuroda: Japan is no longer in deflation
• Goldman Sachs economist says 55% chance of September FOMC rate hike
• German's AfD party beats Merkel in her home district. Merkel’s power under decline
• G20: China and US agree to refrain from competitive currency devaluations
• Spain headed for third election with parties deadlocked
• Fed's Lacker Q&A: August payroll report was 'reasonably strong'

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