Fundamental Analysis, January 28, 2011
A negative trend has been recorded this morning in Asia's stock markets, with the sharpest decline recorded by the Japanese stock exchange. Index declines on the continent have occurred on the background of the decision of the S&P credit ratings agency to cut Japan's sovereign credit rating to a level of AA- from a previous rating of AA. The Japanese Nikkei has reacted to the move with a 1.1% decline.
In the American macroeconomic arena, the Department of Labor reported yesterday that the amount of first unemployment filings in the United States grew by 51 thousand to a total of 454 thousand new unemployment claims. The economists have expected a far more moderate ascent in the amount of new weekly filings to a level of 405 thousand. Furthermore, the Department of Commerce announced that the amount of orders for non-consumable goods in the United States declined by 2.5% during the month of December. The economistâ€™s prediction was for a 1.4% rise.
The Department has announced further that new home sales in the United States leaped up in September by the sharpest rate in the last 19 years due to a 72% rise in home sales in the Western United States. We note that new home sales leaped up by 18% in the last month â€“ the sharpest rate since 1992.
Performed by Gerardo Porras Palomino, Analytical expertInstaForex Companies Group Â© 2007-2010 Offer your friend to read