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USSession: Financial Markets Attempt to Rebound on Hints of Positive Economic Data out of the US
June 18, 2009 11:06 PM CEST
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G10 Advancers and Decliners vs USD |
| | Nzd | 0.73 |  | | | Aud | 0.67 | |  | Cad | -0.07 | | | Dkk | -0.32 | | | Eur | -0.32 | | | Nok | -0.43 | | | Gbp | -0.44 | | | Chf | -0.63 | | | Jpy | -0.78 | | | Sek | -0.85 | |
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Global Indexes |
Current Level |
% Change |
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| DJIA Index | 8,555.60 | + 0.69 | | S&P 500 Index | 918.37 | + 0.84 | | NASDAQ 100 Index | 1,807.72 | - 0.02 | | Nikkei 225 Futures | 9,690.00 | - 0.41 | | Hang Seng Futures | 17,761.00 | - 0.61 | | FTSE futures | 4,289.50 | + 0.37 | | SMI Futures | 5,369.00 | + 1.17 |
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World Markets |
Current Level |
% Change |
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| Crude wti | 71.22 | + 0.27 | | Gold | 932.40 | - 0.69 | | Silver | 14.20 | - 0.98 | | USD Index | 80.62 | + 0.44 | | VIX | 30.03 | - 4.79 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| No Major Events Scheduled | | | |
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Currency Tech |
AUDUSD
R 3: 0.8378
R 2: 0.8263
R 1: 0.8108
CURRENT: 0.7932
S 1: 0.7828
S 2: 0.7745
S 3: 0.7703
EURJPY
R 3: 141.74
R 2: 139.22
R 1: 138.33
CURRENT: 133.50
S 1: 131.49
S 2: 129.73
S 3: 126.98
USDSGD
R 3: 1.4803
R 2: 1.4748
R 1: 1.4666
CURRENT: 1.4564
S 1: 1.4425
S 2: 1.4386
S 3: 1.4336
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Market Brief |
Employment data out of the US lifted equity futures into positive territory. Initial jobless claims were slightly worse than expected at 608k vs. 604k, while continuing claims declined for the first time since January. Investors continue to struggle with clues to confirm the timing a recovery, inflation fears may take a temporary backseat as the Fed is expected to release a statement to add more clarity in regards to the monetary policy intentions. The dollar has been gradually losing steam following these announcements on a moderate pickup in risk appetite. Treasures have undergone strong selling pressure adding to our long-term view that the dollar will depreciate due to rich levels in interest rate instruments like govt debt. The Federal Reserve Bank of Philadelphia general economic index rose to -2.2 from -22.6. In addition, Leading economic indicators increased 1.2% vs. 1.0% expected. A large sect still believes we are poised for a recovery.
The Sterling is the biggest mover among the G10, dropping as much as 212pips to 1.6189. It has since rebounded to 1.6303 a recovery of 112 pips, despite burgeoning retail sales in the UK. Retail sales fell 0.6% vs. a projected gain of 0.3%, statements released by Darling called for more action to be taken regarding the current deficit in the UK economy. All of which contribute to a slower then hoped for, a negative point for cable longs. An additional currency to highlight is the Chf, the SNB released a statement saying that they do not have a specific level to cap the currency’s gains. The Chf was stronger early in the session but has since, weakened versus the dollar and the Euro.
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Asian Session: Markets Watching EURCHF
June 18, 2009 12:31 PM CEST
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G10 Advancers and Decliners vs USD |
| | CHF | 0.14 | | | | NOK | 0.06 | | | EUR | -0.05 | | | CAD | -0.21 | | | GBP | -0.28 | | | JPY | -0.30 | | | NZD | -0.32 | | | AUD | -0.36 | | | SEK | -0.43 | | | DKK | -0.46 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 9,703.72 | - 1.39 | | Hang Seng Index | 17,776.66 | - 1.70 | | Shanghai Index | 3,057.43 | + 1.56 | | FTSE 100 Index | 4,276.00 | - 0.16 | | DAX Index | 4,807.50 | - 0.06 | | SMI Index | 5,294.00 | - 0.23 | | DJIA futures | 8,450.00 | + 0.10 |
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World Markets |
Current Level |
% Change |
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| Gold | 937.80 | + 1.80 | | Silver | 937.80 | + 0.19 | | Crude wti | 71.55 | + 0.55 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| SNB Interest rate announcement, % Q2 | 0.0 - 0.50 | 0.0 - 0.75 | CHF / 7.30 | | Retail sales, % m/m (y/y) May | 0.4 (-0.2) | 0.9 (2.6) | GBP / 8.30 | | BoE provisional M4 growth, % m/m (y/y) May | -- | 0.1 (17.4) | GBP / 8.30 | | CBI industrial trends survey, total orders, net ba | -48 | -56 | GBP / 10.00 | | CPI, % y/y May | -0.2 | 0.4 | CAD / 11.00 | | Bank of Canada core CPI: % y/y May | 1.6 | 1.8 | CAD / 11.00 | | Initial jobless claims, thous (4wk mvg avg) Jun 13 | -- | 601 (622) | USD / 12.30 | | Leading indicators, % (y/y) May | 0.9 (-2.1) | 1.0 (-3.0) | USD / 14.00 | | Philadelphia Fed Index Jun | -18.0 | -22.6 | USD / 14.00 |
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Currency Tech |
AUDUSD
R 3: 0.8378
R 2: 0.8263
R 1: 0.8108
CURRENT: 0.7932
S 1: 0.7828
S 2: 0.7745
S 3: 0.7703
EURJPY
R 3: 141.74
R 2: 139.22
R 1: 138.33
CURRENT: 133.50
S 1: 131.49
S 2: 129.73
S 3: 126.98
USDSGD
R 3: 1.4803
R 2: 1.4748
R 1: 1.4666
CURRENT: 1.4564
S 1: 1.4425
S 2: 1.4386
S 3: 1.4336
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Market Brief |
The USD was stable in the Asian session, on light volumes. The EURUSD and USDJPY traded in relatively tight ranges of 1.3920-1.3970 and 95.60-96.00, respectively, despite the fact that general risk appetite continues to struggle. Mounting negative news has yet to see follow through into the USD, making us consider the decline of the risk aversion trade. The EURCHF was able to push down to 1.5020 before concerns over the SNB intervention policy were reinforced at today's policy meeting. Yesterday, Governor Mervyn King stated that there are signs that the British domestic economy is starting to stabilise. However, it was too early to reverse the BoE 'extraordinary policy stimulus`. Yet, he noted that while it was too early to begin execution it was not too early to begin planning an exit strategy
Ahead today, initial claims, leading indicators and the Philly Fed index are due. At -17, the market is looking for a rebound in the Philly Fed (previous -22.6).
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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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