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Gold Slumps On China Speculation
March 09, 2010 5:18 PM CET
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G10 Advancers and Decliners vs USD |
| | JPY | 0.58 |  | | | AUD | 0.20 | | | | CAD | 0.04 | | | | NZD | 0.00 | |  | CHF | -0.35 | | | NOK | -0.41 | | | EUR | -0.43 | | | DKK | -0.44 | | | GBP | -0.67 | | | SEK | -0.74 | |
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Global Indexes |
Current Level |
% Change |
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| FTSE 100 Index | 5'598.23 | - 0.15 | | DAX Index | 5'875.50 | - 0.01 | | SMI Index | 6'865.26 | + 0.21 | | S&P 500 Index | 1'141.15 | + 0.23 | | DJIA Index | 10'575.64 | + 0.22 | | Nikkei 225 Futures | 10'450.00 | - 0.67 | | Hang Seng Futures | 21'198.00 | + 0.59 |
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World Markets |
Current Level |
% Change |
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| Gold | 1'117.60 | - 0.53 | | Silver | 17.17 | - 0.43 | | VIX | 17.97 | + 1.01 | | Crude wti | 81.36 | - 0.62 | | USD Index | 80.61 | + 0.22 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| Wed 10 Mar | --- | --- | --- | | Germany: Final HICP, % m/m (y/y) Feb | 0.2 (0.3) | 0.2 (0.3) | EUR/07:00 | | Industrial production, % m/m Jan | 0.8 | 1.8 | SEK/08:30 | | CPI, % m/m (y/y) Feb | 0.9 (2.6) | 0.2 (2.5) | NOK/09:00 | | Industrial production, % m/m (y/y) Jan | 0.3 (-0.8) | 0.5 (-3.6) | GBP/09:30 | | Manufacturing output, % m/m (y/y) Jan | 0.2 (1.4) | 0.9 (-1.9) | GBP/09:30 | | Wholesale inventories, %m/m Jan | 0.2 | -0.8 | USD/15:00 |
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Currency Tech |
EURUSD
R 2: 1.3800
R 1: 1.3735
CURRENT: 1.3570
S 1: 1.3444
S 2: 1.3425
USDJPY
R 2: 91.90
R 1: 90.70
CURRENT: 89.80
S 1: 89.50
S 2: 88.15
GBPUSD
R 2: 1.5350
R 1: 1.5278
CURRENT: 1.4970
S 1: 1.4900
S 2: 1.4857
AUDUSD
R 2: 0.9280
R 1: 0.9170
CURRENT: 0.9120
S 1: 0.8935
S 2: 0.8790
USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0270
S 1: 1.0200
S 2: 1.0100
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Market Brief |
• UK BRC Retail Sales (Feb) rose +2.2% y/y
• France’s Trade Deficit (Jan) was better than expected at EUR -3.681bn
• Switzerland CPI (Feb) ticked down to+0.9% y/y (1.0% expected, 1.0% prior)
• UK Trade Deficit (Jan) came out at a lower than anticipated GBP -7.987bn (7.00bn expected) but last month’s reading revised up to -7.01bn from -7.28bn
• An article in the UK’s Guardian reports that Europe bars Wall Street banks from government bond sales
• French Economy Minister Lagarde quoted as saying European Monetary Fund idea interesting but not a short term priority
• According to the IMF, Chinese growth may lead to changes in Yuan valuation "in coming months"
• Gold is lower today after headlines suggested China no longer puts gold as a major component of foreign exchange (lows today $1108.88)
• Fed’s Evans said inflation is “significantly below” his benchmark, and added accommodative policy likely to be “appropriate for some time”.
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China Adds Clarity to Potential Exchange Rate Flexibility
March 09, 2010 8:44 AM CET
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G10 Advancers and Decliners vs USD |
| | JPY | 0.51 | | | AUD | -0.08 | | | CAD | -0.12 | | | CHF | -0.20 | | | EUR | -0.21 | | | NZD | -0.22 | | | DKK | -0.35 | | | NOK | -0.35 | | | SEK | -0.44 | | | GBP | -0.62 | |
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Global Indexes |
Current Level |
% Change |
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| Nikkei 225 Index | 10,567.65 | - 0.10 | | Hang Seng Index | 21,212.68 | + 0.07 | | Shanghai Index | 3,069.14 | + 0.52 | | FTSE futures | 5,590.00 | + 0.53 | | DAX futures | 5,867.50 | - 0.08 | | SMI Futures | 6,858.00 | + 0.08 | | S&P future | 1,134.60 | - 0.21 |
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World Markets |
Current Level |
% Change |
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| Gold | 1,122.06 | - 0.13 | | Silver | 17.16 | - 0.49 | | VIX | 17.79 | + 2.12 | | Crude wti | 81.50 | - 0.45 | | USD Index | 80.57 | + 0.17 |
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Todays Calender |
Estimates |
Previous |
Country / GMT |
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| CPI, % m/m (y/y) | 0.2 (1.0) | -0.1 (1.0) | CHF / 08.15 | | CPI (% y/y) | -- | 0.7 | CZK / 09.00 | | Trade balance, £ bn | -- | -7.3 | GBP / 09.30 | | NFIB small business optimism index | -- | 89.3 | USD / 12.30 | | Chicago Fed President Evans (FOMC non-voter) speak | -- | -- | USD / 14.30 | | CPI (% m/m) | 0.51 | 1.09 | MXN / 16.00 | | RBA Deputy Governor Lowe speaks in Sydney | -- | -- | AUD / 22.00 |
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Currency Tech |
EURUSD
R 2: 1.3800
R 1: 1.3735
CURRENT: 1.3606
S 1: 1.3444
S 2: 1.3425
USDJPY
R 2: 91.40
R 1: 90.55
CURRENT: 89.92
S 1: 89.50
S 2: 88.15
GBPUSD
R 2: 1.5350
R 1: 1.5255
CURRENT: 1.4982
S 1: 1.5000
S 2: 1.4857
AUDUSD
R 2: 0.9280
R 1: 0.9170
CURRENT: 0.9098
S 1: 0.8935
S 2: 0.8790
USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0279
S 1: 1.0200
S 2: 1.0100
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Market Brief |
• Japan Jan leading index rose 2.4 points, coincident index up 2.5 points.
• UK Feb RICS house price balance jumped to 17 vs. 30 exp lowest since Aug "09, prior Jan reading 31.
• UK Feb BRC like-for-like retail sales 2.2% y/y vs.Jan -0.7%, lowest in survey history, while Feb total sales 4.5%
• Australia Feb NAB business conditions index rose to 8, confidence climbed 19, Jan 3, 15.
• Australia Feb job ads 19.1% m/m, highest in yr, newspaper 13.1%, internet 19.6%.
• According to a UK Times poll Labor-Tories are currently neck-neck in marginal seats
• Wall Street Journal states that Moody’s sees UK bank bailout wind-down could trigger UK bank ratings cuts.
• In China, SAFEs Yi Gang states that reserves are appropriately diversified in USD, EUR, JPY and emerging ccys and reiterates yesterdays Wen comment on the CNY exchange rate policy.
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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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