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But The Head And ShouldersTitle:
Wall Street falls on Europe, but S&P off lows
Stocks fell on Monday but the S&P 500 came off lows after slipping below a key support level on fears of worsening political turmoil in the euro zone and signs of weakening Chinese growth.
Economically sensitive shares, including banks and natural resources companies, led the decline. Morgan Stanley (MS.N) fell 3.1 percent to $14.48, while Exxon Mobil Corp (XOM.N) lost 1 percent to $82.26.
JPMorgan Chase & Co (JPM.N) announced the first exit of a top executive after suffering trading losses that could reach $3 billion or more. The bank said Ina Drew, its investment chief, would retire. JPMorgan shares fell 1.8 percent to $36.31 after losing 9 percent on Friday.
The three major indexes briefly fell more than 1 percent on Monday, with the S&P dropping under an important support level at 1, ...
Title:
Forex Exchange Morning Report
Market wrap
A disappointing US payrolls report hurt sentiment, pushing equities, risky currencies, commodities and interest rates lower. Only 115,000 jobs were added in April versus 160,000 expected. There were, however, positive back revisions and the unemployment rate fell from 8.2% to 8.1%, initially causing some confusion in markets before judgement was passed it was a weak outcome. Also reported was lower Eurozone manufacturing activity, adding to the negative market tone. The S&P500 closed down 1.6% and the CRB commodities index fell 1.4%. US 10yr treasury yields closed 5bp lower at 1.88%, earlier making a 3 Feb low at 1.87%. Australian 3yr bond yields fell 6bp. A few hours ago, results from European elections were announced. France has a new (socialist) president, and Greece's two ...
Title:
RBA surprises with 50 bps cut
Forex Morning Briefing : RBA surprises with 50 bps cut
Whats new:
Forex: Aussie tumbles on RBA rate cut; euro off two-week lows against yen
Global Markets: Asian shares hurt by concerns over US and European economies, lifted by RBA
Australia: RBA cuts rates by 50 bps to 3.75 percent
China: Manufacturing PMI rises as expected to 53.6
Euro zone: Eurogroup head quits citing intolerance to Franco-German interference
Euro zone: Spain slips back into recession
United States: Feds Fisher and Williams say no need for further monetary easing
United States: ISM manufacturing index due today at 16:00 CET
Rates in Asia and Indices:
EUR/USD 1.3234 1.3260 0.11 %
USD/CHF 0.9060 0.9077 0.11 %
GBP/USD 1.6212 1.6241 -0.07 %
USD/JPY 79.64 79.95 ...
Title:
Market Drivers - Currencies
Market Drivers - Currencies
Risk aversion was really in focus again after the fairly poor PMI data from China as well as the euro zone. The safe-haven currencies appreciated, and particularly the most risky currencies were sold. It seems that still more currencies indicate that the FX complex in general will breach in the direction of a flight to safe haven over the coming period. For instance, recently the commodity currencies have traded with negative bias. Each time USD, JPY and GBP are undergoing a correction, they will be bought again.
Macro-economics: It is particularly worrying that PMI data both in France and Germany plummeted yesterday. If the recession in the euro zone is not to deteriorate, the economic indicators must really turn around. This means that both consumers and ...
Title:
Euro slammed by poor data, European political risks
The euro slid against the dollar on Monday after two days of gains, rattled by poor euro zone data and concerns that the region's debt crisis could spread to other healthier European nations after Dutch officials failed to agree on budget cuts.
Analysts said sentiment toward the common currency was bearish, with most investors looking to sell it on any rally before debt auctions this week in Italy and the Netherlands.
After the breakdown in budget negotiations, Dutch Prime Minister Mark Rutte said he tendered his cabinet's resignation to the Dutch queen, adding that she will consider it and had asked for the government in the meantime to keep doing whatever was in the country's interest.
The budget impasse in the Netherlands could threaten its triple-A rating and weighed on the euro.
A ...
Title:
D-Day For The Aussie And The RBA
At its last meeting the RBA put the fate of interest rates squarely on the shoulders of this week's CPI figures. The bank sated that a case could be made for more monetary easing if inflation moderates. Hence, the market will be carefully watching the consumer prices data as leading indicator of the RBA's meeting in May.
The overall tone of the RBA has been more dovish of late which has led to heightened speculation in favour of a rate cut next month. Last time the bank move to ease policy the board pointed towards weaker than expected growth in the domestic economy and an economic softening in Australia's largest trading partner (China), and they also removed a common line about the mining led investment boom which has been the only real domestic bright spot in the RBA's commentary.
...
Title:
Market Drivers - Currencies : 23/04/2012
Today's Comment
On Friday, IFO turned out to be a tad better than expected, and therefore we saw a positive bias in the financial market. This offers renewed confidence that the positive 'spring sentiments' in respect of the EU's debt problems will continue as the IFO data are still offering positive surprises.
Overnight the market did, however, see a slight setback after the release of the HSBC's Chinese PMI data (49.1), which showed a slight improvement from 48.3. However, the figure 50 still marks the line between improvement and setback in the manufacturing industry. This is now the sixth month in a row that the economic indicators has been below 50. We note, however, that the recent figure shows a slight improvement and expect that the PMI data will rise above 50 in the current ...
Title:
SunBirdFX Daily Market Analysis : 04/09/2012
www.sunbirdfx.com
The US stock markets closed last week with the worst performance since the beginning the year and the signals for an incoming bearish correction are increasing. However, the NASDAQ closed high and looks like it is ready for another bullish session, unlike the other main indices that look more bearish. The trading week will open on the background of the disappointing Non-Farm payrolls data from Friday that showed that the American economy created just 107K jobs during the previous month, whereas analysts expected it to create 207K new jobs.
EUR/USD
Many of the central banks in Europe are closed today due to Eastern holiday and therefore the Euro might trade in narrow range, as it was on last Friday. The pair broke down the support at 1.325, which we analyzed last week ...
Title:
Weak US Job report on friday the USD lower. JPY strong overnight
Forex Morning Briefing : Weak US Job report on friday the USD lower. JPY strong overnight
Whats new:
Forex: Yen extends its gains, up to 1-month high with US dollar following US jobs data
Global Markets: Asian shares hurt by slower than expected US jobs report
Japan: Current account returns to surplus
United States: Jobs report shows NFP at lowest in 5 months; 121k versus 221k
Rates in Asia and Indices:
EUR/USD: 1.3033 1.3105
USD/CHF: 0.9167 0.9217
GBP/USD: 1.5836 1.5894
USD/JPY: 81.19 81.59
EUR/CHF: 1.2009 1.2019
EUR/JPY: 106.17 106.87
Dow Jones: 13060.14 CLOSED
NASDAQ: 3'080.50 CLOSED
S & P 500: 1'398.08 CLOSED
Nikkei: 9546.26 -1.47%
Shanghai: 2'290.72 -0.69%
Gold: $ 1643.35
Crude Oil: $ 102.12
Comments:
Market activity was very high last week as key US events gave ...
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