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US Session: Dollar holds steady as encouraging economic data boosts consumer confidence
July 14, 2009 11:03 PM CEST
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G10 Advancers and Decliners vs USD |
| | Cad | 1.27 |  | | | Aud | 0.90 | | | | Nzd | 0.56 | | | | Gbp | 0.38 | | | | Nok | 0.35 | |  | Eur | -0.21 | | | Dkk | -0.21 | | | Sek | -0.37 | | | Jpy | -0.52 | | | Chf | -0.64 | |
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Global Indexes |
Current Level |
% Change |
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| DJIA Index | 8,359.49 | + 0.53 | | S&P 500 Index | 902.00 | + 0.72 | | NASDAQ 100 Index | 1,448.00 | + 0.38 | | Nikkei 225 Futures | 9,262.81 | + 2.28 | | Hang Seng Futures | 17,885.73 | + 3.52 | | FTSE futures | 4,237.68 | + 0.85 | | SMI Futures | 5,365.05 | + 0.94 |
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World Markets |
Current Level |
% Change |
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| Crude wti | 59.44 | - 0.42 | | Gold | 925.25 | + 0.54 | | Silver | 12.92 | + 0.58 | | USD Index | 80.16 | + 0.08 | | VIX | 25.02 | - 4.90 |
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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 2: 0.8155
R 1: 0.8040
CURRENT: 0.7876
S 1: 0.7630
S 2: 0.7450
EURJPY
R 2: 132.82
R 1: 130.88
CURRENT: 130.31
S 1: 126.98
S 2: 124.40
USDCAD
R 2: 1.1815
R 1: 1.1725
CURRENT: 1.1498
S 1: 1.1420
S 2: 1.1330
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Market Brief |
The dollar held steady against most majors, responding to positive U.S. economic data. The EurUsd dropped 30pips, while the UsdJpy fell 17pips to a low range of 92.9. The GbpUsd remains bullish with inflation rates expected to continue rising in the near term. Equity markets were somewhat flat in the US and Europe with the Dow up just .08% or 6.34pts and the FTSE up .85% or 35.55pts. The yield on 10-year notes rose .09% to 3.44% and the 30-year note yield was up .06% to 4.29%. Commodities are mixed with Brent crude rising above $61bbl and gold rising .55% to $923oz.
There was very little movement in the market today despite the stronger than expected earnings reported from Goldman Sachs. Johnson and Johnson also had earnings that beat estimates, although their profits have decreased year on year on the strength of the USD. PPI figures were higher than expected, putting downward pressure on the USD and JPY. To round off the cycle of good news, U.S. retail sales rose by .6% from a month earlier versus an expected increase of .4%. Sterling rose and then reversed its gains against the USD for a second day as the U.K. inflation rate fell below the BoE’s 2% target level to 1.8% in June; analysts predict inflation will continue to decline. Negative economic news from the eurozone put downward pressure on the euro versus the cable and USD following a drop in the German ZEW sentiment index, which declined from 44.8 to 39.5 versus an estimated 47.4 increase for July; German GDP is expected to contract 6% this year. Oil rose over $61 a barrel, sending the Cad to its highest level in three weeks, and making it one of the biggest movers in the G10 today.
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Asian Session: Risky Assets Improve Ahead of Corporate Earnings
July 14, 2009 11:52 AM CEST
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G10 Advancers and Decliners vs USD |
| | AUD | 0.96 | | | | NOK | 0.86 | | | | GBP | 0.79 | | | | SEK | 0.64 | | | | NZD | 0.52 | | | | CAD | 0.47 | | | | EUR | 0.18 | | | | DKK | 0.17 | | | | CHF | 0.02 | | | JPY | -0.69 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 9,261.81 | + 2.33 | | Hang Seng Index | 17,896.39 | + 3.71 | | Shanghai Index | 3,145.16 | + 2.09 | | FTSE 100 Index | 4,229.00 | + 0.63 | | DAX Index | 4,766.85 | + 0.94 | | SMI Index | 5,372.41 | + 1.07 | | DJIA futures | 8,280.00 | + 0.24 |
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World Markets |
Current Level |
% Change |
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| Gold | 922.45 | + 0.23 | | Silver | 12.92 | + 0.58 | | VIX | 26.31 | - 9.33 | | Crude wti | 60.54 | + 1.42 | | USD Index | 80.00 | - 0.11 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| German ZEW economic expectations index Jul | 47.8 | 44.8 | EUR / 09.00 | | Industrial production, % m/m (y/y wda) May | 1.0 | -1.5,-20.7 | EUR / 09.00 | | Retail sales, % m/m (y/y) Jun | 0.5 (-9.3) | 0.5 (-9.5) | USD / 12.30 | | Retail sales ex autos, % m/m (y/y) Jun | 0.5 (-7.6) | 0.5 (-7.2) | USD / 12.30 | | PPI, % m/m (y/y) Jun | 0.8 (-5.2) | 0.2 (-5.0) | USD / 12.30 | | Core PPI, % m/m (y/y) Jun | 0.1 (2.9) | -0.1 (3.0) | USD / 12.30 | | Business inventories, % m/m (y/y) May | -1.0,-7.5 | -1.1,-6.6 | USD / 14.00 |
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Currency Tech |
AUDUSD
R 2: 0.8155
R 1: 0.8040
CURRENT: 0.7876
S 1: 0.7630
S 2: 0.7450
EURJPY
R 2: 132.82
R 1: 130.88
CURRENT: 130.31
S 1: 126.98
S 2: 124.40
USDCAD
R 2: 1.1815
R 1: 1.1725
CURRENT: 1.1498
S 1: 1.1420
S 2: 1.1330
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Market Brief |
Risky currencies had a strong rally overnight, as stock markets rallied ahead of some important earnings reports and economic data today. US financials led the US equity markets higher (6.5%), ahead of the first bank earnings release. The positive sentiment has carried over to Asian and European trading. The EURUSD remained elevated, trading in a 1.3960 - 1.4010 range, while the USDJPY traded with a bullish bias to 93.25 from 92.80. While some currencies have seen decent price action, overall most are trapped in range bound trading. This lack of direction accompanied by low volumes stinks of listless summer price action. With the USD weaker, oil and gold were able to shrug of its recent downtrend. Crude wti fell to a low of $58.30bbl before rallying above $60.00bbl, while gold drove above $921oz (oil and gold correlations with the USD have increased over the past months). In New Zealand, RBNZÕs Bollard spoke this morning, stating that the country needs a weaker exchange rate: "What is needed is for the New Zealand dollar to be persistently weak over the coming years, to encourage the needed business investment to be export-oriented and supportive of improvement in New Zealand 's external liability position." With German ZEW, Eurozone industrial production and US retails, as well as the corporate earning season kickoff with Goldman Sachs, this will prove to be an interesting trading day.
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