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US Session
March 04, 2010 4:47 PM CET
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G10 Advancers and Decliners vs USD |
 | CAD | -0.23 | | | GBP | -0.36 | | | SEK | -0.51 | | | JPY | -0.72 | | | AUD | -0.78 | | | DKK | -0.81 | | | EUR | -0.84 | | | CHF | -0.89 | | | NOK | -0.94 | | | NZD | -0.95 | |
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Global Indexes |
Current Level |
% Change |
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| FTSE 100 Index | 5'524.08 | - 0.17 | | DAX Index | 5'806.75 | - 0.19 | | SMI Index | 6'804.84 | - 0.12 | | S&P 500 Index | 1'120.36 | + 0.14 | | DJIA Index | 10'419.05 | + 0.21 | | Nikkei 225 Futures | 10'120.00 | - 0.59 | | Hang Seng Futures | 20'574.00 | - 1.36 |
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World Markets |
Current Level |
% Change |
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| Gold | 1'132.55 | - 0.64 | | Silver | 17.13 | - 0.39 | | VIX | 18.61 | - 1.17 | | Crude wti | 80.31 | - 0.69 | | USD Index | 80.37 | + 0.48 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| Fri 5 Mar | --- | --- | --- | | Manufacturing production, % m/m Jan | 0.3 | -0.5 | NOK/09:00 | | Producer input prices, % m/m (y/y) Feb | 0.2 (7.8) | 2.0 (8.4) | GBP/09:30 | | Producer output prices, % m/m (y/y) Feb | 0.2 (0.4) | 0.4 (3.8) | GBP/09:30 | | Germany: Factory orders % m/m (y/y) Jan | 1.3 (15.4) | -2.3 (8.4) | EUR/11:00 | | Change in nonfarm payrolls, thous Feb | -65 | -20 | USD/13:30 | | Unemployment rate, % Feb | 9.8 | 9.7 | USD/13:30 |
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Currency Tech |
EURUSD
R 2: 1.3800
R 1: 1.3735
CURRENT: 1.3595
S 1: 1.3444
S 2: 1.3425
USDJPY
R 2: 90.20
R 1: 89.50
CURRENT: 89.00
S 1: 88.00
S 2: 87.37
GBPUSD
R 2: 1.5350
R 1: 1.5255
CURRENT: 1.5050
S 1: 1.5025
S 2: 1.4857
AUDUSD
R 2: 0.9170
R 1: 0.9095
CURRENT: 0.8995
S 1: 0.8935
S 2: 0.8790
USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0330
S 1: 1.0200
S 2: 1.0100
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Market Brief |
• Eurozone GDP (Q4 09) was in line with expectations at +0.1% q/q, -2.1% y/y (+0.4%/-4.1% prior)
• UK Halifax House Price Index (Feb) -1.5% m/m (0.3% expected)
• The Times reports that snow and stamp duty responsible for sending UK house prices down 1.5%
• Greece begins sale of 10-year bonds
• EU Commission stated that new Greek measures should stimulate growth
• BoE keeps rates unchanged at 0.50% and maintains existing asset purchase target of GBP200bn
• ECB keeps rates unchanged at 1.00% as expected, Trichet repeats that rates remain ‘appropriate’
• US Initial Claims (27 Feb) were roughly in line with forecasts at 469k (470k expected, prior revised up to 498k from 496k)
• US Continuing Claims (20 Feb) encouragingly much lower than forecast at 4500k (4600k expected, prior revised up slightly to 4634k from 4617k)
• US Non-Farm Productivity (Q4 final) much higher than expected 6.9% (6.3% expected, 6.2% prior)
• US Unit Labor Costs (Q4 final) -5.9% (-4.4% expected, -4.4% prior)
• US Factory Orders (Jan) came out at 1.7% m/m (1.8% expected, prior revised up to 1.5% from 1.0%)
• US Pending Home Sales (Jan) dramatically missed forecasts at -7.6% (1.0% expected, prior month revised down to 0.8% from 1.0%)
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BOE and ECB Take Center Stage
March 04, 2010 9:07 AM CET
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G10 Advancers and Decliners vs USD |
| | JPY | 0.20 |  | | CAD | -0.23 | | | DKK | -0.38 | | | EUR | -0.38 | | | CHF | -0.41 | | | GBP | -0.47 | | | SEK | -0.65 | | | NOK | -0.76 | | | AUD | -0.84 | | | NZD | -0.92 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 10,145.72 | - 1.04 | | Hang Seng Index | 20,636.76 | - 1.14 | | Shanghai Index | 3,023.37 | - 2.37 | | FTSE futures | 5,520.50 | + 1.03 | | DAX futures | 5,773.00 | - 0.72 | | SMI Futures | 6,755.00 | - 0.50 | | S&P future | 1,114.90 | - 0.25 |
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World Markets |
Current Level |
% Change |
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| Gold | 1,134.55 | - 0.45 | | Silver | 17.07 | - 0.74 | | VIX | 18.83 | - 1.20 | | Crude wti | 80.40 | - 0.58 | | USD Index | 80.14 | + 0.18 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| Preliminary GDP, % | 0.1 | 0.1F | EUR / 10:00 | | BoE MPC Bank Rate decision, % | .50 | .50 | GBP / 12.00 | | BoE MPC asset purchase target, £ bn | 200 | 200 | GBP / 12.00 | | ECB rate announcement, % | 1.00 | 1.00 | EUR / 12.45 | | ECB press conference - Macros Published | -- | -- | EUR / 13.30 | | Nonfarm productivity, % q/q | 6.2 | 6.2 | USD / 13.30 | | Unit labour costs, % q/q | -4.4 | -4.4 | USD / 13.30 | | Initial jobless claims, thous | -- | 496 (474) | USD / 13.30 | | Factory orders, % m/m (y/y) | 1.2 (8.5) | 1.0 (3.6) | USD / 15.00 | | Pending home sales, % m/m (y/y) | 1.7 (22.2) | 1.0 (10.9) | USD / 15.00 | | Chicago Fed President Evans (FOMC non-voter) speak | -- | -- | USD / 18.00 | | St. Louis Fed President Bullard (FOMC voter) speak | -- | -- | USD / 18.15 |
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Currency Tech |
EURUSD
R 2: 1.3800
R 1: 1.3695
CURRENT: 1.3644
S 1: 1.3444
S 2: 1.3425
USDJPY
R 2: 90.22
R 1: 89.50
CURRENT: 88.24
S 1: 87.55
S 2: 87.00
GBPUSD
R 2: 1.5580
R 1: 1.5325
CURRENT: 1.5053
S 1: 1.4780
S 2: 1.4700
AUDUSD
R 2: 0.9090
R 1: 0.9065
CURRENT: 0.8993
S 1: 0.8935
S 2: 0.8790
USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0329
S 1: 1.0200
S 2: 1.0100
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Market Brief |
TOday markets will be focused on the ECB and BoE meetings. The Bank of England is expected to keep rates on hold at 0.50% this month and to maintain its asset purchase target at GBP 200bn for the time being. The risks however, have been gradually shifting towards a possibility of the resumption of quantitative easing just a month after the MPC signaled a pause. Voting member David Miles asserted in a speech last week that “there are still more risks of growth not recovering to more normal levels than of substantially exceeding it”, and Governor Mervyn King also erred to the dovish side in his recent address to the Treasury. With the high level of uncertainty abound in Europe as a whole; the recent slump in GBPUSD is no doubt indicative of the market already starting to price in an increase to the asset purchase target in coming months.
After last week’s massively underwhelming Eurozone inflation print at -0.8% MoM, and the ongoing concern about the PIGS, it is unsurprising that analysts are universally predicting an unchanged decision from the ECB (rates currently 1.00%). The market will however want to hear from Trichet what the next steps will be in the gradual withdrawal of emergency lending measures. The ECB President is likely to affirm that rates remain ‘appropriate’, but given the dramatic slump in EURUSD of late, the more important details will be what Trichet’s opinions are on the prospects for Greece and the proposed German-led bailout plan.
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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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