ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Go Before Jobs MarketsTitle:
Asian Market Update : 22/05/2012
Short-covering momentum builds on China infrastructure spending hopes
Economic Data
(NZ) NEW ZEALAND Q2 RBNZ 2-YR INFLATION EXPECTATIONS: 2.4% V 2.5% PRIOR (11-quarter low and 4th consecutive quarter of decline)
(CN) CHINA APR CONFERENCE BOARD LEADING ECONOMIC INDEX M/M: 0.8% V 0.8% PRIOR
(TW) TAIWAN APR UNEMPLOYMENT RATE: 4.2% V 4.1%E
(KR) SOUTH KOREA Q1 EXTERNAL SHORT TERM DEBT: $136.3B V $136.1B PRIOR
Markets Snapshot (as of 04:15GMT)
Nikkei225 +1.0%
S&P/ASX +0.8%
Kospi +1.2%
Shanghai Composite +0.5%
Hang Seng +0.8%
June S&P Futures flat at 1,315
June gold flat at $1,589/oz
July Crude +0.1% at $92.96
Overview/Top Headlines
Asian equity markets have extended the overnight rally with another session of moderate gains, as hopes for progress in European talks took a back- ...
Title:
Markets extend gains on value hunt, hopes for EU summit
(Reuters) - Markets extended gains in Asia on Tuesday with investors hunting for bargains in shares beaten down to 2012 lows late last week, as hopes grew that Europe could agree on fresh action to tackle its debt crisis while promoting growth.
A Chinese media report saying Beijing will accelerate infrastructure investments to combat slowing growth lifted Hong Kong and Chinese shares by 1.2 percent .HSI and 0.6 percent .SSEC respectively.
European shares looked likely to extend gains, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open as much as 1.0 percent higher. U.S. stock futures were up 0.1 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.4 percent, having recovered on Monday from a ...
Title:
Gold off 4-1/2 month low on increased physical buying
Gold rose more than 1 percent on Thursday, bouncing off a 4-1/2 month low, as weaker prices attracted new physical buyers, but gains were likely to be limited as the euro was undermined by fears of a deepening debt crisis in Greece.
Spot gold rose 1 percent to $1,553.80 an ounce by 09.07 a.m. EDT, from $1,538.30 late in New York on Wednesday, when it plunged to $1,527 - its weakest since December 29.
The precious metal rose to a high of $1,557.56 earlier, helped by the approaching expiry of gold options in the COMEX futures market.
U.S. gold futures hit a high of $1,557.90 an ounce and were at $1,554.30, up 1.1 percent. The contract had plunged to a multi-month low of $1,526.70 on Wednesday.
Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as ...
Title:
U.K. Unexpectedly Surprises Markets with Upbeat Jobs Report
The sentiment improved today after the United Kingdom provided markets with the jobs report, where unemployment has unexpectedly dropped in the three months ending in March, raising optimism that the "balanced budget" previously provided by the Chancellor of Exchequer, George Osborne, might have a positive impact on the royal economy and the labor market as well, despite speculations joblessness will peak 8.7% this year before falling again.
Unemployment in the United Kingdom unexpectedly fell to 8.2% from the previous of 8.3%, beating estimates of 8.4%, the thing that raised positivity in the market, supporting the sterling pound to erase most of the losses incurred earlier today; however, the sentiment is still mixed after Greeks found no common grounds regarding the creation of the ...
Title:
Pressures intensify on European leaders
Confidence is already in short supply in financial markets and could evaporate further in the coming week if investors judge that Europe's often fractious political leaders aren't mapping out a sustainable path through the current crisis.
Over the past week investors have been rocked by the increased likelihood of Greece leaving the euro, and an admission by one of the world's more highly regarded banks, JPMorgan Chase (JPM.N), of an embarrassing failure in risk management.
Many in the markets are now looking to Europe's political leaders to signal a shift in the German-led austerity drive across Europe which they now see as threatening the fragile recovery underway in the world economy if cuts are not tempered with some efforts to encourage growth.
Credit rating agency Fitch put the ...
Title:
Oil ends mixed on China, OPEC, U.S. jobs data
Oil prices ended mixed in choppy trading on Thursday as weaker-than-expected Chinese trade data, higher OPEC production and evidence of a strengthening U.S. jobs market muddied the oil demand outlook.
China, the world's second largest oil consumer after the United States, reported that its exports and imports in April grow at a far slower rate than forecast.
Its trade performance that month was also surprisingly weak, and analysts said the government would need to loosen monetary policy to spur expansion or risk missing annual growth targets.
The Organization of the Petroleum Exporting Countries said it pumped 1.62 million barrels more per day, to 31.62 million bpd last month, as Iraq ramped up output and Libya's oil industry recovered. That's above the 30 million bpd target it had set ...
Title:
YouTradeFX Daily Market Analysis : 10/05/2012
Fundamental News
Today’s highlights:
- ECB Monthly Report (EUR, 09:00 GMT)
- Italian Industrial Production (MoM) (ITA, 09:00 GMT)
- Trade Balance +Manufacturing Production (MoM)+ Industrial Production (MoM) (GB, 09:30 GMT)
- Interest Rate Decision (GB, 12:00 GMT)
- Initial Jobless Claims + Trade Balance (U.S, 13:30 GMT)
- Trade Balance (CAD, 13:30 GMT)
- Fed Chairman Bernanke Speaks (U.S, 14:30 GMT)
Wholesale inventories in the U.S. rose by 0.3% (less than expected) in the month of March, according to a report released by the Commerce Department on Wednesday. Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized, the National Association of Realtors said in a report yesterday.
According to Bloomberg ...
Title:
Global shares pressured by weak China data, Europe jitters
(Reuters) - Asian shares struggled on Thursday, as a weak Chinese trade data stoked fears of a growth slowdown and further undermined risk appetite already reduced by worries about the health of Spanish banks and deepening political chaos in Greece.
European shares will likely open mixed, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open between a 0.3 percent rise and a 0.4 percent fall. U.S. stock futures were up 0.2 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS, which has declined for the past five days, last stood nearly flat after bouncing between positive and negative territory. During the session it fell as much as 0.3 percent to its lowest in nearly four months and briefly rose as much as ...
Title:
Uncertainty over Europe hits euro, shares slip
Investors sold European shares and the euro on Tuesday, unnerved by the political stalemate in Greece and the threat of a Franco-German split over policies to tackle the region's debt crisis.
The uncertainty in Europe added to worries about global growth after weak American jobs data, sending industrial commodities like oil and copper lower. U.S. shares were also expected to open down on Wall Street. .N
While markets were in a risk averse mood, activity was less volatile than on Monday when European shares initially fell sharply in reaction to the weekend's election results before firming after Spain said it was prepared to use public funds to help its troubled banks.
Spain is the euro zone's fourth largest economy and investors have focused on its troubles because it would be expensive ...
|