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Late European Session
October 07, 2009 4:05 PM CEST
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G10 Advancers and Decliners vs USD |
 | CAD | -0.13 | | | NZD | -0.18 | | | AUD | -0.19 | | | GBP | -0.33 | | | NOK | -0.34 | | | DKK | -0.40 | | | JPY | -0.40 | | | EUR | -0.41 | | | CHF | -0.70 | | | SEK | -1.47 | |
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Global Indexes |
Current Level |
% Change |
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| FTSE 100 Index | 5'118.27 | - 0.38 | | DAX Index | 5'642.95 | - 0.26 | | SMI Index | 6'261.05 | - 0.26 | | S&P 500 Index | 1'053.78 | - 0.09 | | DJIA Index | 9'707.59 | - 0.24 | | Nikkei 225 Futures | 9'730.00 | + 0.52 | | Hang Seng Futures | 21'235.00 | + 1.95 |
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World Markets |
Current Level |
% Change |
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| Gold | 1'040.63 | - 0.14 | | Silver | 17.35 | - 0.06 | | VIX | 25.59 | - 0.43 | | Crude wti | 70.84 | - 0.06 | | USD Index | 76.59 | + 0.34 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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Currency Tech |
AUDUSD
R 2: 0.9130
R 1: 0.8940
CURRENT: 0.8885
S 1: 0.8645
S 2: 0.8570
USDCAD
R 2: 1.0825
R 1: 1.0630
CURRENT: 1.0605
S 1: 1.0530
S 2: 1.0420
EURJPY
R 2: 132.10
R 1: 131.15
CURRENT: 130.60
S 1: 129.60
S 2: 129.05
USDMXN
R 2: 13.815
R 1: 13.685
CURRENT: 13.495
S 1: 13.454
S 2: 13.260
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Market Brief |
It’s been a day of two halves in the FX markets as the morning began with continued USD-selling and risk appetite pushing risky assets higher. However late in the European morning equity indices started to turn lower and the USD began to stage a recovery; since recouping all of its losses to trade higher on the day (DXY 76.55).
There were relatively few data releases featured on the calendar; Swiss Unemployment ticked higher to 3.9% in Sep, but the figure was in line with consensus forecasts, while Norwegian Industrial Production continued the trend for better than expected data out of Norway with a 1.5% change MoM vs. -0.5% in the month prior. Eurozone final GDP readings for Q2 were slightly lower than forecast (-0.2% QoQ vs. -0.1% expected), but the currency was broadly unchanged around the 1.4725 levels until the USD rally later in the session.
Gold meanwhile has managed to hold its ground up at these levels; it briefly touched $1048.40 to mark a new high before paring back to settle around $1040. Silver is also enjoying the heightened demand for precious metals, trading up to $17.52 before retracing back to current levels at $17.40.
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European Session: RBA Hike Supports Risk Buying
October 07, 2009 10:21 AM CEST
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G10 Advancers and Decliners vs USD |
| | JPY | 0.73 |  | | | NZD | 0.56 | | | | AUD | 0.40 | | | | CAD | 0.36 | | | | DKK | 0.02 | | | EUR | -0.01 | | | GBP | -0.03 | | | NOK | -0.06 | | | CHF | -0.17 | | | SEK | -0.21 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 9,799.60 | + 1.11 | | Hang Seng Index | 21,257.86 | + 2.14 | | Shanghai Index | 2,779.44 | + 0.90 | | FTSE 100 Index | 5,126.91 | - 0.21 | | DAX Index | 5,646.16 | - 0.20 | | SMI Index | 6,269.44 | - 0.12 | | S&P future | 1,051.50 | + 0.37 |
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World Markets |
Current Level |
% Change |
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| Gold | 1,041.30 | - 0.07 | | Silver | 17.33 | - 0.15 | | VIX | 25.70 | - 4.24 | | Crude wti | 71.23 | + 0.49 | | USD Index | 76.27 | - 0.08 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| FRB of Kansas City President Hoenig speaks | -- | -- | USD / 01.45 | | Unemployment rate, % (sa) Sep | 4.1 | 4.0 | CHF / 05.45 | | Manufacturing production, % m/m Aug | -- | -0.5,-8.0 | NOR / 08.00 | | German New manufacturing orders, % m/m (y/y) Aug | 1.5 | 3.5,-19.9 | EUR / 10.00 | | Consumer credit, $bn Aug | -10.0 | -21.6 | USD / 19.00 |
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Currency Tech |
AUDUSD
R 2: 0.9130
R 1: 0.8940
CURRENT: 0.8938
S 1: 0.8645
S 2: 0.8570
USDCAD
R 2: 1.0960
R 1: 1.0825
CURRENT: 1.0540
S 1: 1.0590
S 2: 1.0445
EURJPY
R 2: 134.20
R 1: 132.10
CURRENT: 129.83
S 1: 130.45
S 2: 129.05
USDMXN
R 2: 13.815
R 1: 13.685
CURRENT: 13.47
S 1: 13.454
S 2: 13.260
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Market Brief |
The Greenback (USD) extended its declines yesterday against its major counterparts, and dropped to a record low versus the Gold on speculation that Arab oil producing nations along with Russia, China, Japan, and France are discussing secretly to end dollar dealings for oil and moving instead to a basket of currencies, including the euro, the yen and the Chinese Yuan according to Britain’s "Independent" newspaper. Officials in several of the countries either denied talks or said they had no knowledge, but still couldn’t prevent the selloff the US currency.
RBA’s decision which surprised the markets by raising its benchmark by 0.25% to 3.25%, weighed more on the Dollar and sending the AUD to a 14 months high. Other report showed that Australia’s trade balance showed deficit of AUD 1.52 B in Aug. The deficit could be due to a strong Aussie which is putting pressure on exports.
The EUR advanced against the USD on the back of Britain’s “independent” newspaper report, and the RBA decision which helped increase demand for higher yielding assets. The Euro traded with a high of 1.4760 and closed at 1.4722. The Sterling was the weakest currency yesterday falling against the US Dollar, as disappointing data from UK showed that manufacturing production fell 1.9% MoM in Aug, being the largest fall since the beginning of 2009. The pair is still trading within a range bound, and probably we’ll be awaiting for BoE meeting on Thursday to have a clearer picture. The CAD also advanced by risk appetite and higher commodity prices. The USD/CAD dropped to a new yearly low at 1.0545. we should be aware of any intervention from the central bank of Canada, as strong Canadian currency could weigh on its exports.
On the data front we’re Switzerland will be releasing its Unemployment rate for Sep which is expected to rise by 0.10% to 4.10%. From the Euro Zone the final GDP will be released and German Factory orders. Nothing much from the U.S. for today, just one major release, the Crude Oil inventories.
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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.
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