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Market Session Snap-Shot
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European Session − NFP in Focus
Fri, May 2 2008, 10:05 GMT
by Peter Rosentreich
ACM - Advanced Currency Markets
Market Brief
Usd was weaker in European Session as markets bracing for weaker then expected payroll figure. It was a day of substantial gains in the US equity markets on Thursday, as much of the world was on holiday. The S&P500 rose 1.7%, while the NASDAQ rose 2.8%. Eight of the ten sectors rose, led by Financials (+3.9%), Consumer Discretionary (+3.3%) and Info Tech (+3.2%). Energy (-2.2%) was the main decliner, as Exxon (-3.6%) missed numbers and crude sold off another 2%. Gold and other commodities were also lower, as the dollar rose vs most currencies. Financials strength was seen in all regions, with large cap and regional banks higher. Asian stocks are higher this morning, with the region's benchmark index hitting its highest level in three months. The Nikkei is up 2.2%, the Hang Seng is up 1.9% and the MSCI A-P is up 1.6%. The dollar has continued its mini-rally, while the Japanese manufacturers rose after they hit record market share in the US in April, following the vehicle sales released, with Asian brands hitting 44.7%
Markets will be waiting for US Non Farm Payrolls before closing the week. Given the recent economic data (barring an overly optimistic ADP) the risk are clearly skewed to the downside. The latest weekly data on jobless claims were soft and the labor market components of the consumer confidence surveys have moderated significantly. Traders should begin to consider the market reaction should US data continues to weaken and Ussd bullish sentiment wears off.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 14,049.26 | 2.05 |
| Hang Seng Index | 26,272.65 | 2 |
| Shanghai Index | 3,693.11 | 4.81 |
| FTSE 100 Index | 6,136.80 | 0.8 |
| CAC 40 Index | 5,034.83 | 0.76 |
| SMI Index | 7,604.42 | 1 |
| DJIA futures | 12,991.00 | -0.01 |
| World Markets | Current Level | % Change |
| Gold | 854.49 | 0.21 |
| Silver | 16.23 | 0.21 |
| VIX | 18.88 | -9.18 |
| Crude wti | 112.25 | -0.24 |
| USD Index | 73.24 | -0.04 |
| Todays Calender | Estimates | Previous | Country / GMT |
| Change in Non-Farm Payrolls (Apr) | -75,000 | -80,000 | US / 13.30 |
| Unemployment Rate (Apr) | 5.20% | 5.10% | US / 13.30 |
| Average Hourly Earnings (Apr) | +0.3%(+3.6 | +0.3%(+3.6 | US / 13.30 |
| Average Weekly Hours Worked (Apr) | 33.7 | 33.8 | US / 13.30 |
| Factory Orders (Mar) | 0.20% | -1.30% | US / 15.00 |
| Tur CPI (Apr) | +1.5%(+9.4 | +1.0%(+9.2 | TUR / 15.00 |
Currency Tech
AUDUSD
R 3: 0.9496
R 2: 0.9473
R 1: 0.9445
CURRENT: 0.9303
S 1: 0.9272
S 2: 0.9249
S 3: 0.9206
EURJPY
R 3: 163.88
R 2: 163.25
R 1: 162.46
CURRENT: 162.04
S 1: 160.60
S 2: 159.83
S 3: 159.70
USDSGD
R 3: 1.3887
R 2: 1.3746
R 1: 1.3659
CURRENT: 1.3635
S 1: 1.3554
S 2: 1.3470
S 3: 1.3318
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
Published on Fri, May 2 2008, 10:16 GMT
Archive
- Asian Session - Equity Selling Continues
Published On Tue, Dec 2 2008, 10:13 GMT - Asian Session - Markets Position for an Uncertain Week
Published On Mon, Dec 1 2008, 10:04 GMT - Japanese Industrial production fell by 3.1% m/m
Published On Fri, Nov 28 2008, 10:08 GMT - Asian Session - China's Aggressive Rate Cut Supports Asian Stock Markets
Published On Thu, Nov 27 2008, 10:14 GMT - Asian Session - Short Term Optimism Wanes - Back to Safe Haven Buying
Published On Wed, Nov 26 2008, 09:37 GMT
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