After good US data, markets in Asia pick up again – gold still weak
In Shanghai, the Chinese stock market is starting its sixth weekly gain, the longest series since 2012. Tokyo, despite the confirmation of a weak yen at 103,8 against the dollar and despite a rise in the PMI index, loses slightly. The umpteenth historic record of the S&P500, which now sees 2 in its sights, encourages the resilience of the Asian markets: the MSCI Asia Pacific regional index is rising by 0,2% in the middle of the day, ensuring a second week of progress.
US data yesterday was uniformly positive: both the Markit PMI and the Philadelphia index rose, existing home sales jumped higher in July and the Conference Board leading index jumped 0,9 in the same month. .XNUMX%, foreshadowing a strengthening of growth.
In the currency field, in addition to the holding of the yen at low levels, a slight strengthening of the euro should be recorded, rising to 1,329 against the dollar. Strong decline in oil: WTI falls to 93,7 $/b; Brent remains at 102,5 and the differential widens a lot. Further crumbling of gold, which stands at 1279 $/ounce. The futures on London and New York are slightly positive.
http://www.bloomberg.com/news/2014-08-22/asian-stocks-advance-extending-weekly-gain-on-u-s-data.html
http://www.bloomberg.com/news/2014-08-22/china-stock-futures-rise-as-shanghai-index-heads-for-weekly-gain.html
