You are not logged in.
- Trader, Analyst and webmaster for Forex-Tribe
- Registered: 16-07-2008
- Posts: 39318
- Reputation : 0
Share this topic :
Aussie rallies on the the back business confidence
Asia: Japanese stock market blue chip index gains 0.4 %
Forex: The Yen still in consolidation mode after last week’s losses
Forex: Economic data out of Australia and New Zealand supported the Aussie and the Kiwi overnight
Overnight rates and Indices:
EUR/USD 1.3429 1.3461 -0.08 %
USD/CHF 0.9251 0.9268 0.10 %
GBP/USD 1.5686 1.5714 0.11 %
USD/JPY 90.4 91.02 0.19 %
EUR/CHF 1.2426 1.2469 0.17 %
EUR/JPY 121.56 122.45 0.28 %
Dow Jones 13862.57 13915.72 -0.10 %
Nasdaq 2735.21 2752.54 0.20 %
S&P 500 1496.33 1503.23 -0.18 %
Nikkei 225 10751.01 10937.63 0.39 %
Shanghai 2337.35 2363.80 0.53 %
Gold spot 1654.50 1664.91 0.55 %
Crude Oil 96.42 96.97 0.42 %
The Japanese stock market blue chip index gained 0.4 % for the day on the back of a solid rally in bank shares. There were no major stories out of japan overnight, the Japanese Yen is still in consolidation-mode after last week`s losses.
Economic data out of Australia and New Zealand supported the Aussie- and the Kiwi-Dollar overnight. The Aussie rallied after data showed the Business Confidence Index from the National Australia Bank rose to 3 from minus 9 for the month of December. This was the biggest monthly improvement in sentiment since October 2001. Commentators attributed that jump mostly to the recent rise in equity markets. The data helped the AUD/USD to end a 3-day loosing-streak. The Kiwi was stronger as well after data showed that the annual trade deficit unexpectedly narrowed.
German GFK Consumer sentiment forecast for February rose to 5.8 this morning versus a forecast of a rise of 5.7 – EUR/USD is still trading sideways 50 pips below the years high established last Friday. We expect more volatility in the second half of the week with the publication of major Economic data such as the monthly non-farm payrolls out of the US on Friday.
Apart from 4 PM Conference Board consumer confidence index out of the US there will be no major economic data published today.
Henry Philippson - Junior Trader - RTFX Ltd