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US Session: Risk Aversion Trade Back In Play As Investors Await Treasury Auction and FOMC
June 22, 2009 9:39 PM CEST
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G10 Advancers and Decliners vs USD |
| | Jpy | 0.36 |  |  | Chf | -0.47 | | | Eur | -0.52 | | | Dkk | -0.54 | | | Sek | -0.86 | | | Gbp | -0.93 | | | Cad | -1.45 | | | Nzd | -1.83 | | | Aud | -2.13 | | | Nok | -2.29 | |
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Global Indexes |
Current Level |
% Change |
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| DJIA Index | 8,376.19 | - 1.92 | | S&P 500 Index | 897.93 | - 2.53 | | NASDAQ 100 Index | 1,775.21 | - 2.86 | | Nikkei 225 Futures | 9,740.00 | + 0.92 | | Hang Seng Futures | 18,045.00 | + 0.72 | | FTSE futures | 4,188.00 | - 2.98 | | SMI Futures | 5,300.00 | - 2.11 |
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World Markets |
Current Level |
% Change |
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| Crude wti | 66.95 | - 3.74 | | Gold | 921.90 | - 1.30 | | Silver | 13.74 | - 3.41 | | USD Index | 80.76 | + 0.62 | | VIX | 31.35 | + 12.00 |
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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: 0.8379
R 2: 0.8265
R 1: 0.8120
CURRENT: 0.7981
S 1: 0.7828
S 2: 0.7745
S 3: 0.7700
EURJPY
R 3: 139.22
R 2: 138.30
R 1: 135.37
CURRENT: 133.11
S 1. 132.36
S 2: 131.50
S 3: 129.70
USDSGD
R 3: 1.4800
R 2: 1.4745
R 1: 1.4666
CURRENT: 1.4575
S 1: 1.4425
S 2: 1.4385
S 3: 1.4336
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Market Brief |
The U.S. Dollar saw mixed movement today as it rose against Sterling in anticipation of Wednesday’s FOMC meeting where decisions will be made regarding Treasury purchases. The EurUsd fell from 1.3934 to 1.3824 as the World Bank said the global recession would worsen 2.9% in 2009.The GbpUsd saw some volatile movement, jumping between 1.64 and 1.65, with an overall decline of 0.89%. The UsdJpy fell 0.9% as equity markets weakened in the U.S., with the Dow slipping 1.95%, the FTSE off 2.57%, and the MSCI down 3.044%. Commodities are lower across the board with oil down 3.57%, below $68bbl, while Gold fell 1.4% to a monthly low of $918.3oz in New York, as the dollar strengthened with the Dollar Index up 0.657%.
Risk averse behavior was driving U.S. markets today as treasury prices rallied following a flight to the safe haven US dollar. Despite a 1.9% rise in German ifo climate index for June and a positive 2010 outlook from Central Bank president Jean-Claude Trichet, the World Bank’s revised 2009 global economic outlook turned most currency pairs on their heads as it came out lower than the previously forecasted negative 1.7% contraction in March. Often used as a gauge of risk aversion, the yen and dollar rose against most majors. A weaker dollar is expected in the short term as the US government plans to sell 104 billion dollars worth of debt between the 23rd and 25th of June; giving Russia and China greater incentive to push for a supranational currency.
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Asian Session: Slow Start to the Trading Week
June 22, 2009 10:34 AM CEST
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G10 Advancers and Decliners vs USD |
| | JPY | 0.21 | | | GBP | -0.31 | | | CAD | -0.62 | | | CHF | -0.63 | | | NOK | -0.64 | | | EUR | -0.68 | | | DKK | -0.71 | | | SEK | -0.92 | | | AUD | -0.99 | | | NZD | -1.13 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 9,826.27 | + 0.40 | | Hang Seng Index | 18,049.88 | + 0.72 | | Shanghai Index | 2,896.30 | + 0.54 | | FTSE 100 Index | 4,305.13 | - 0.93 | | DAX Index | 4,781.25 | - 1.20 | | SMI Index | 5,398.28 | - 0.43 | | DJIA futures | 8,440.00 | - 0.42 |
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World Markets |
Current Level |
% Change |
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| Gold | 933.49 | - 0.06 | | Silver | 14.05 | - 1.26 | | VIX | 27.99 | - 6.79 | | Crude wti | 69.19 | - 0.51 | | USD Index | 80.62 | + 0.43 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| Germany: IFO business climate, index Jun | 85.0 | 84.2 | EUR / 08.00 | | Germany: IFO current assessment, index Jun | 83.1 | 82.5 | EUR / 08.00 | | Germany: IFO business expectations, index Jun | 87.0 | 85.9 | EUR / 08.00 | | ECB President Trichet gives a keynote speech | -- | -- | EUR / 12.00 | | NBH interest rate announcement, % 23-Jun | 9.50 | 9.50 | HUF / 12.00 | | BoI interest rate announcement, % 25-Jun | 0.50 | 0.50 | ILS / 14.30 |
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Currency Tech |
AUDUSD
R 3: 0.8379
R 2: 0.8265
R 1: 0.8120
CURRENT: 0.7981
S 1: 0.7828
S 2: 0.7745
S 3: 0.7700
EURJPY
R 3: 139.22
R 2: 138.30
R 1: 135.37
CURRENT: 133.11
S 1. 132.36
S 2: 131.50
S 3: 129.70
USDSGD
R 3: 1.4800
R 2: 1.4745
R 1: 1.4666
CURRENT: 1.4575
S 1: 1.4425
S 2: 1.4385
S 3: 1.4336
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Market Brief |
The USD was stronger in the Asian session, as risk barometers, such as AUD, point to a decline in FX risk appetite. The EURUSD traded down to 1.3660 from 1.3960, while the USDJPY, in choppy trading, traded between 96.30 and 95.80. Commodity prices were also softer, with crude wti trading below the $70.00bll level. Markets have been debating whether the momentum of Chinese commodity stockpiles has been slowing and the spillover effect on prices. We expect direction conviction to be scarce and FX prices to be range bound ahead of this week's FOMC meeting. The main event for today will be the German IFO. The index has been a timely indicator to the Euro region's largest economy and the market has become very sensitive to its changes.
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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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