|
|
US Session: The Dollar Declines as Risk Appetite Returns on Corporate Earnings and Improving Equity Markets
July 15, 2009 11:13 PM CEST
|
|
G10 Advancers and Decliners vs USD |
| | Eur | 1.01 |  | | | Jpy | 0.78 | | | | Gbp | 0.69 | |  | Dkk | -1.00 | | | Nok | -1.09 | | | Aud | -1.27 | | | Chf | -1.31 | | | Sek | -1.55 | | | Nzd | -1.59 | | | Cad | -1.62 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| DJIA Index | 8,616.21 | + 3.07 | | S&P 500 Index | 932.68 | + 2.96 | | NASDAQ 100 Index | 1,862.90 | + 3.51 | | Nikkei 225 Futures | 9,380.00 | + 0.96 | | Hang Seng Futures | 18,255.00 | + 0.00 | | FTSE futures | 4,309.00 | + 2.74 | | SMI Futures | 5,465.00 | + 1.98 |
|
|
World Markets |
Current Level |
% Change |
|
| Crude wti | 61.74 | + 3.73 | | Gold | 939.16 | + 1.45 | | Silver | 13.28 | + 2.75 | | USD Index | 79.40 | - 0.81 | | VIX | 25.89 | + 3.48 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| No Major Events Scheduled | | | |
|
|
|
Currency Tech |
AUDUSD
R 2: 0.8155
R 1: 0.8035
CURRENT: 0.7964
S 1: 0.7700
S 2: 0.7630
EURJPY
R 2: 134.80
R 1: 132.82
CURRENT: 131.26
S 1: 127.82
S 2: 126.98
USDCAD
R 2: 1.1665
R 1: 1.1515
CURRENT: 1.1331
S 1: 1.1270
S 2: 1.1090
|
|
Market Brief |
The dollar and yen dropped against majors as better-than-expected corporate earnings and economic data spurred demand for risk, prompting traders to unwind safety positions in the dollar and yen. The EurUsd rose 148pips to 1.41 and trending higher as RSI hovered above the 50 level, reflecting a strong buying momentum in the market. The GbpUsd continued to march upward, rising 116pips to the mid range of 1.64 as investors moving into riskier currencies. The UsdJpy edged up 63pips to the 94.1 level, but it may see a slight pullback as RSI broke into the overbrought level. Equity markets in the US and Europe posted strong gains, with the Dow jumping 180pts or 2.17% and the DAX reaping a 146pts or 3.07% gain. The yield curve steepened as risk appetite returns with the 10yr yield rising 0.081 to 3.55%. Commodity prices rose across the board as oil up $1.35 or 2.27% to $60bbl and gold surged $16 or 1.79% to $939oz.
Better-than-expected corporate earnings this week so far sparked speculation on more earning reports will beat expectations, combined with positive economic data, lifting optimism toward the worst of the recession is over. Risk appetite gained support from earnings reports of global companies across industries, as Intel, Goldman Sachs and Johnson and Johnson all had positive surprises. The Consumer Price Index increased 0.7% vs 0.6% forecasted, while the NY Fed’s Empire State Survey climbed to -0.6% vs -5% forecasted. The CPI and NY Fed’s data weighed on the dollar as risk aversion eroded and traders become more confident in taking risk.
Risk Disclaimer:
Although every investment involves some degree of risk, the risk of loss in trading off‐exchange forex contracts can be substantial. Therefore if you are considering trading in this market, you should be aware of the risks associated with this product so you can make an informed decision prior to investing. The material presented here is not to be construed as trading advice or strategy. ACMNY makes a strong effort to use reliable, expansive information, but we make no representation that it is accurate or complete. In addition, we have no obligation to notify you when opinions or data in this material change.
|
|
Asian Session: GS Results Provides Spark
July 15, 2009 11:45 AM CEST
|
|
G10 Advancers and Decliners vs USD |
| | SEK | 0.98 | | | | NOK | 0.93 | | | | AUD | 0.91 | | | | NZD | 0.89 | | | | EUR | 0.70 | | | | DKK | 0.68 | | | | CHF | 0.66 | | | | GBP | 0.54 | | | | CAD | 0.42 | | | JPY | -0.31 | |
|
|
Global Indexes |
Current Level |
% Change |
|
| Nikkei 225 Index | 9,269.25 | + 0.08 | | Hang Seng Index | 18,227.45 | + 1.91 | | Shanghai Index | 3,188.55 | + 1.38 | | FTSE 100 Index | 4,272.01 | + 0.81 | | DAX Index | 4,850.20 | + 1.43 | | SMI Index | 4,850.20 | + 1.43 | | DJIA futures | 8,361.00 | + 0.68 |
|
|
World Markets |
Current Level |
% Change |
|
| Gold | 928.87 | + 0.34 | | Silver | 13.06 | + 1.08 | | VIX | 25.02 | - 4.90 | | Crude wti | 60.63 | + 1.86 | | USD Index | 79.66 | - 0.48 |
|
|
Todays Calender |
Estimates |
Previous |
Country / GMT |
|
| FOMC meeting minutes published | -- | -- | USD / 18.00 | | Claimant count unemployment, change K Jun | 43.0 | 39.3 | GBP / 08.30 | | ILO unemployment rate, % May | 7.4 | 7.2 | GBP / 08.30 | | HICP, % m/m (y/y) Jun | 0.2 (-0.1) | -0.1 "flas | EUR / 09.00 | | HICP ex tobacco, index (2005 = 100) (y/y) Jun | -- | 108.10 | EUR / 09.00 | | Manufacturing shipments, % m/m May | -0.8 | -0.1 | CAD / 12.30 | | CPI, % m/m (y/y) Jun | 0.6 (-1.6) | 0.1 (-1.3) | USD / 12.30 | | Core CPI, % m/m (y/y) Jun | 0.1 (1.7) | 0.1 (1.8) | USD / 12.30 | | Empire manufacturing, index Jul | -5.00 | -9.41 | USD / 12.30 | | Industrial production, % m/m (y/y) Jun | -0.6,-13.7 | -1.1,-13.5 | USD / 13.15 | | Industrial production: mfg, % m/m (y/y) Jun | -- | -1.0,-15.3 | USD / 13.15 | | Capacity utilisation, % Jun | 67.9 | 68.3 | USD / 13.15 | | CPI % q/q Q1 | 0.5 | 0.3 | NZD / 22.45 | | Tertiary industry index , % m/m May | 0.3 | 2.2 | JPY / 23.50 |
|
|
|
Currency Tech |
AUDUSD
R 2: 0.8155
R 1: 0.8035
CURRENT: 0.7964
S 1: 0.7700
S 2: 0.7630
EURJPY
R 2: 134.80
R 1: 132.82
CURRENT: 131.26
S 1: 127.82
S 2: 126.98
USDCAD
R 2: 1.1665
R 1: 1.1515
CURRENT: 1.1331
S 1: 1.1270
S 2: 1.1090
|
|
Market Brief |
The better than expected Goldman Sachs second quarter earnings, released yesterday, have captured the markets imagination over a recovery in the banking sector and has provided continued support for the rally in risk appetite. In addition, better than expected Retail sales and PPI (gasoline prices were a major driver) helped fuel optimism. The EURUSD rallied above the 1.4000 (key resistance now stands at 1.4203 ), while the AUDUSD marches towards the 0.8000 psychological resistance. Equity markets are green across the board and US stock futures are pointing to a higher open. Even the Baltic Dry index seems to have troughed and is gaining momentum to the upside. Interestingly China's reserves rose to $150bn to $2.13tn in the Q2, one of the fastest reserve accumulations ever recorded. Currently, the momentum in FX markets has eased slightly, as several more financial institutions are set to release this afternoon and expectations are now higher. In Japan, the BoJ concluded its two-day meeting, leaving the rate unchanged, as was universally expected. However, the BoJ did announce that they would extend its asset purchase program and adjusted its growth forecast lower to -3.4% and 1.0% in 2009 and 2010 respectively. We now doubt the market's conviction of testing 90 levels and growing comfortable with the idea of significant JPY selling near term. A rash of economic data highlighted by the FOMC minutes (no major surprises expected) and corporate earnings will keep traders vigilant.
|
|
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.
|
| |
|
|
| |
| |
|