|
|
US Session: US Equity Sell-Off On High Volumes Boosts The Dollar
October 26, 2009 6:06 PM CET
|
|
G10 Advancers and Decliners vs USD |
| | GBP | 0.17 |  |  | JPY | -0.14 | | | AUD | -0.41 | | | EUR | -0.58 | | | CHF | -0.73 | | | DKK | -0.74 | | | NZD | -0.77 | | | SEK | -0.82 | | | NOK | -0.83 | | | CAD | -0.91 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| FTSE 100 Index | 5'191.74 | - 0.97 | | DAX Index | 5'642.16 | - 1.71 | | SMI Index | 6'303.35 | - 1.17 | | S&P 500 Index | 1'070.08 | - 0.88 | | DJIA Index | 9'887.16 | - 0.85 | | Nikkei 225 Futures | 10'390.00 | + 0.29 | | Shanghai Futures | 22'601.00 | 0.00 |
|
|
World Markets |
Current Level |
% Change |
|
| Gold | 1042.5 | - 1.22 | | Silver | 17.29 | - 2.23 | | VIX | 24.19 | + 8.62 | | Crude wti | 78.74 | - 2.19 | | USD Index | 75.80 | + 0.45 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| Tue 27 Oct | - | - | - | | NAB Business Confidence Q3 | - | -4 | AUD/00:30 | | PPI, % m/m (y/y) Sep | -0.5(-1.5) | -0.9(-0.1) | SEK/08:30 | | M3, % y/y (3mma) Sep | 2.1 (2.5) | 2.5 (3.0) | EUR/09:00 | | CBI distributive trades survey Oct | - | - | GBP/11:00 | | S&P/Case-Shiller house price index, % y/y Aug | -11.90 | -13.30 | USD/13:00 | | Consumer confidence index Oct | 53.5 | 53.1 | USD/14:00 | | Richmond Fed Manufacturing index Oct | 14 | 14 | USD/14:00 |
|
|
|
Currency Tech |
EURUSD
R 2: 1.5346
R 1: 1.5060
CURRENT: 1.4900
S 1: 1.4876
S 2: 1.4830
GBPUSD
R 2: 1. 6570
R 1: 1.6484
CURRENT: 1.6325
S 1: 1.6221
S 2: 1.6130
USDJPY
R 2: 93.10
R 1: 92.50
CURRENT: 92.05
S 1: 90.60
S 2: 89.70
AUDUSD
R 2: 0.9476
R 1: 0.9347
CURRENT: 0.9185
S 1: 0.9113
S 2: 0.8985
USDCAD
R 2: 1.0670
R 1: 1.0650
CURRENT: 1.0630
S 1: 1.0520
S 2: 1.0380
|
|
Market Brief |
The European session was extremely uneventful as German GfK Consumer Confidence was the only timetabled release, and markets largely ignored the number. GBP provided the only noteworthy movement in the morning as some profit-taking from Friday’s dramatic sell-off pushed GBPUSD from 1.6252 to 1.6396, causing it to be one of the best performers on the day.
In the afternoon BoC’s Carney was billed to speak in Montreal and after last week’s quotes that mentioned possible intervention to curb CAD strength, USDCAD rallied to 1.0590 in anticipation of further verbal intervention or elaboration of his earlier comments. This however, did not materialize and USDCAD sold off quickly to 1.0530 soon after, as speculators who had pre-empted CAD-specific rhetoric exited their intraday positions. Since then we have however seen USDCAD rally hard to touch 1.0646; driven by a late wave of USD strength that has also pushed EURUSD back to lows of 1.4885 and USDCHF above 1.0150. The move has been attributed to an aggressive sell-off in equity markets on high volume – equities both in the US and across Europe are lower on the day, led primarily by banks and insurance names. Bank names have struggled amid speculation home-buyer tax credits will soon be phased out, and the latter on ING news that it will sell shares in order to finance the repurchase of securities held by the government.
In unison with the move in EURUSD, gold has slumped to $1041.50 in afternoon trading, down over $18 from its intraday highs of $1059.90, and silver down 2% on the day at $17.40. Crude has also given back its early gains that saw it touch $81.50, and is now trading at $78.60.
|
|
European Session: FX Markets Range Bound with No News
October 26, 2009 9:01 AM CET
|
|
G10 Advancers and Decliners vs USD |
| | JPY | 0.06 | | | | NOK | 0.01 | | | SEK | -0.05 | | | DKK | -0.06 | | | CHF | -0.06 | | | EUR | -0.06 | | | AUD | -0.07 | | | GBP | -0.10 | | | CAD | -0.11 | | | NZD | -0.34 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| Nikkei 225 Index | 10,362.62 | + 0.77 | | Hang Seng Index | 22,589.73 | + 1.70 | | Shanghai Index | 3,109.37 | + 0.05 | | FTSE futures | 5,218.00 | + 0.66 | | DAX futures | 5,776.00 | + 0.43 | | SMI Futures | 6,396.00 | + 0.26 | | S&P future | 1,080.10 | + 0.29 |
|
|
World Markets |
Current Level |
% Change |
|
| Gold | 1,053.93 | - 0.13 | | Silver | 17.70 | + 0.05 | | VIX | 22.27 | + 7.63 | | Crude wti | 79.90 | - 0.74 | | USD Index | 75.29 | - 0.23 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| Germany: GfK consumer confidence, index | 4.5 | 4.3 | EUR / 07.00 | | Chicago Fed Activity Index | -- | ‐0.90 | USD / 12.30 | | Dallas Fed Manufacturing Activity | ‐0.5% | ‐6.4% | USD / 14.30 | | BoE MPC member Adam Posen speaks on "A non-monetar | -- | -- | GBP / 18.30 |
|
|
|
Currency Tech |
AUDUSD
R 2: 0.9476
R 1: 0.9347
CURRENT
S 1: 0.9113
S 2: 0.8985
USDCAD
R 2: 1.0650
R 1: 1.0585
CURRENT: 1.0519
S 1: 1.0380
S 2: 1.0265
EURJPY
R 2: 139.20
R 1: 138.70
CURRENT: 138.11
S 1: 136.29
S 2: 135.22
USDMXN
R 2: 13.330
R 1: 13.175
CURRENT: 13.072
S 1: 12.855
S 2: 12.797
|
|
Market Brief |
The light economic calendar today should keep FX markets range bound today. Asian equities were marginally stronger, after US equities ended weaker on Friday, despite broadly firm Q3 earnings reports and some better economic data. The sterling selling saw no respite in Asian session. The GBP was still the weakest among all currencies, as the lingering effect of the UK posting 3Q GDP figures, which shows that the UK is still in recession after posting negative GDP for the sixth straight quarter, is still present. We are still in the minority in expecting that the BoE will expand its asset purchasing programming roughly by £25bn at the November meeting. Should the MPC members choose this course of action, traders should expect a significantly weaker sterling.
One of the highlight of this week will be the Norges Bank rate decision Wednesday. Markets expect the central bank to join the RBA in tightening rates. However, should the statement indicate gradual tightening over aggressive action, the market would be clearly disappointed. We believe any dip in the NOK is a good time to establish long positions.
Later today, we get the Dallas Fed Manufacturing Activity reading, which is expected to print a -0.5% decline. If so, this would be the slowest rate of decline seen in 2 years.
|
|
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.
|
| |
|
|
| |
| |
|