This Week in the Global Markets

Published: October 16th 2010
in Economics » World


The Toronto TSX Index was stable during the last trading day of the week. A minor change (due 12:00 PM) of (-15) points put the TSX at 12,604 points. The trade volume is 88M.


Across the border to New York City – The NASDAQ kept climbing by 21 points to 2,456 points, adding nearly 2% this week despite the negative data of the housing market and the high unemployment rates.


The Dow lost 50 points due to fears of a new recession. Nevertheless the Index is still impressive and keeps levels of over 11,000 points. Ben Bernanke will have to be very creative in finding new solution to the continuing depression in the US economy.


Tiny Tel Aviv 25 Index broke a record this week. Stocks went up and the Index reached its highest peak ever of 1,256.98 points. In the coming months, the focus will be on Israel’s energy sector of Oil and Gas. It seems as though Israel is becoming an energy superpower.


The S&P 500 kept fluctuating this week as well. The Index has been dancing around the 1,150 point mark for almost a year, looking for hints from the global economy. In the meantime the bears and the bulls will keep pulling the rope.


China's markets seem to be at the beginning of a new roar. Analysts expect a 20% upside in the next twelve months. Japan keeps struggling in the longest recession ever, while its Central Bank is trying to maneuver the Japanese Yen in the currency war.


Commodities - The gold doesn't stop, and the precious metal is on its way to $1,400 per one ounce, now trading at $1,373.


The crude oil kept its steep ascent and the black liquid is trading for over $82 per barrel. Politics, macroeconomic data and the consumer's mood will determine in the coming days whether oil prices will again go over $100 per barrel, or whether prices will slowly return to a normal price of $60-70 per barrel.


In the Foreign Exchange sector the Canadian and the Australian Dollars nearly beat the US Dollar this week. Exchange rates are currently only 1% away from equality.


China keeps its monetary policy of a weak Yuan, while Europe is in a serious problem due to its very strong Euro. The Israeli Shekel is under a massive intervention of the Central Bank, which may weaken the ILS in the short term.


Data Accuracy: October 15th 1-2 PM.


Related articles: (global markets, stock markets, weekly summary)
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