|
|
US Session-Dollar Sees Little Movement in Light Trading
July 21, 2008 9:54 PM CEST
|
|
G10 Advancers and Decliners vs USD |
| | Aud | 0.62 |  | | | Cad | 0.45 | | | | Sek | 0.37 | | | | Nok | 0.33 | | | | Eur | 0.32 | | | | Dkk | 0.31 | | | | Chf | 0.25 | | | | Jpy | 0.24 | | | | Nzd | 0.02 | | | | Gbp | 0.01 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| DJIA Index | 11,435.00 | - 0.57 | | S&P 500 Index | 1,257.30 | - 0.25 | | NASDAQ 100 Index | 1,823.00 | - 0.31 | | FTSE 100 Index | 5,383.00 | + 0.23 | | CAC futures | 4,325.00 | + 0.24 | | DAX futures | 6,445.50 | + 0.37 | | SMI Futures | 6,868.00 | + 0.54 |
|
|
World Markets |
Current Level |
% Change |
|
| Crude wti | 131.67 | + 2.17 | | Gold | 965.08 | + 1.06 | | Silver | 18.43 | + 1.65 | | VIX | 23.49 | - 2.33 | | USD Index | 71.99 | - 0.28 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| Leading Indicators | -0.1% | -0.1% | US/20:30 |
|
|
|
Currency Tech |
AUDUSD
R 3: 0.9895
R 2: 0.9849
R 1: 0.9818
CURRENT: 0.9755
S 1: 0.9675
S 2: 0.9664
S 3: 0.9597
EURJPY
R 3: 170.00
R 2: 169.67
R 1: 169.18
CURRENT: 169.17
S 1: 168.25
S 2: 166.01
S 3: 165.33
USDSGD
R 3: 1.3717
R 2: 1.3661
R 1: 1.3565
CURRENT: 1.3511
S 1: 1.3452
S 2: 1.3399
S 3: 1.3300
|
|
Market Brief |
The Usd is trading slightly lower, but the market has been quiet overall in the European session. The EurUsd continues to trade with a 1.58 handle, while the UsdJpy fell below its previous support level of 107. The GbpUsd is slightly off the previous close at the low 1.99 area, and will probably see resistance at the 2.00 price. The equity markets are trading lower in the US, while investors saw gains throughout Europe. Commodity markets are mostly higher with oil trading at 130, and gold at 962. Bond sold off again as traders move back into alternative assets, signifying a decrease in risk aversion
The German Finance Minister expressed an aggressive outlook for growth in 2008-2009. He stated that a recession is totally out of the question, despite some weak economic data in recent news. Growth is expected to be at 1.7% in 2008, and 1.2% in 2009, based on projections from the Finance Ministry. Despite the commentary from the Finance Ministry, most economists expect German economic growth to continue to deteriorate and no longer be able to counterbalance weakness in the rest of the Eurozone. With that said, light volatility in the overall market place should keep the EurUsd within its current range of 1.57-1.59, seeing support near the 1.60 level, unless a major event regarding monetary policy occurs in the near-term. The Rightmove House Price Indices showed an additional decline of 1.8% month over month, which is representative of weakening UK economy. The downturn in the housing sector has placed considerable pressure on the consumer, thus making it increasingly difficult to balance growth and inflation for the BoE, as both issues are a major concern. The cable should probably trade within the 1.98-2.00 range in the near-term, based on light trading and low volatility in the markets.
Corporate earnings continue to come out of the US financial sector, with Bank of America reporting better than expected EPS (earnings per share) at 72 cents vs. 54 cents expected. The market will anticipate weak reports from Countrywide Financial whom was recently acquired by Bank of America. The market reacted positively at the open, but has been mostly flat throughout the day as activity is traditionally slower during the summer months. The economic calendar is moderate this week, as traders should look for key economic data points with durable goods, home price index, and the Univ. Michigan Consumer confidence all scheduled to be released tomorrow.
|
|
Asian Session - All Calm Right Now
July 21, 2008 9:49 AM CEST
|
|
G10 Advancers and Decliners vs USD |
| | AUD | 0.33 | | | | SEK | 0.21 | | | | NOK | 0.06 | | | | DKK | 0.05 | | | | EUR | 0.03 | | | | JPY | 0.02 | | | | CAD | 0.01 | |  | CHF | -0.11 | | | NZD | -0.12 | | | GBP | -0.28 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| Nikkei 225 Index | 12,803.70 | - 0.65 | | Hang Seng Index | 22,547.88 | + 3.08 | | Shanghai Index | 2,861.42 | + 2.98 | | FTSE futures | 5,344.20 | - 0.59 | | DAX futures | 6,361.85 | - 0.32 | | SMI Futures | 6,780.41 | - 0.32 | | DJIA futures | 11,471.00 | - 0.26 |
|
|
World Markets |
Current Level |
% Change |
|
| Gold | 1961.04 | + 0.63 | | Silver | 18.28 | + 0.82 | | VIX | 24.05 | - 3.83 | | Crude wti | 130.10 | + 0.94 | | USD Index | 72.16 | - 0.04 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| Index of Leading Indicators (Jun) | 0.1% | -0.1% | US / 14.00 |
|
|
|
Currency Tech |
AUDUSD
R 3: 0.9895
R 2: 0.9849
R 1: 0.9818
CURRENT: 0.9755
S 1: 0.9675
S 2: 0.9664
S 3: 0.9597
EURJPY
R 3: 170.00
R 2: 169.67
R 1: 169.18
CURRENT: 169.17
S 1: 168.25
S 2: 166.01
S 3: 165.33
USDSGD
R 3: 1.3717
R 2: 1.3661
R 1: 1.3565
CURRENT: 1.3511
S 1: 1.3452
S 2: 1.3399
S 3: 1.3300
|
|
Market Brief |
Usd was stable in Asian session as the lack of new data and non-data events gave speculators nothing new to trade on. EurUsd stayed well within Fridays range, trading from 1.5830 – 1.5874 while UsdJpy trended slightly lower from 106.98 to 106.71. AudUsd broke out of Fridays doldrums, trading back up to 0.9767. Asian Equity markets are in the green while European index futures are pointing to a negative open. Commodities are higher with wti crude trading at $129.88bbl and gold up .66% to 961.37. Bonds continue to decline across the treasury curve, as risk appetite is slowly returning to the market. FX 1-month implied vols are coming off last weeks highs, helping to support renewed risk appetite.
In the UK Rightmove House Price indices showed another decline in prices m/m 1.8% ( y/y 2.0%). In addition, the report also warned that unsold homes (per agency) have hit a record high. While the market was silent to the news, with deteriorating domestic conditions and the housing correction still well entrenched, the BoE will be increasingly pushed into a difficult dilemma (especially considering the UK will skid dangerously close to a recession).
In Australia , PPI came in lower for q2 rising to 1.0% q/q well below the expected 1.6% q/q, however the data does show an acceleration of inflation pressures. While PPI is not directly correlated with CPI it illustrates that inflation is still a concern and gave the Aud a slight boost in early trading.
No major events or data scheduled for release in the UK or Eurozone.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|
| |
|
|
| |
| |
|