Search
Market Session Snap-Shot
0
0
Asian Session − G7 Releases Strong Statement
Mon, Oct 13 2008, 08:09 GMT
by Peter Rosentreich
ACM - Advanced Currency Markets
Market Brief
The Usd was weaker in the Asian session as the initial reaction to the G7 plan is positive. The EurUsd climbed from 1.3410 to 1.3670, while the UsdJpy seesawed first to 101.19, before slipping to 99.57 and now failing moment on a race to 100.58. In addition, Asian regional equity indexes are positive and European & US stock futures are pointing to a positive open. G7 statement relased Friday was the pledge to "use all available tools to support systemically important financial institutions and prevent their failure". The G7 plan released lacked the real details the market was hoping for, but did convey the following points 1) unlimited liquidity in interbank lending; 2) support critical financial institutions 3) make certain that the banks are adequately capitalized, with individual banks having access to direct government or private capital sources. So far, the markets have reacted positively and traders will be watching to see if the trend continues. Should the positive sentiment continues, we expect the Jpy to come under significant selling pressure.
In the UK, inflation figures will capture the market's attention. Today's Producer Prices and tomorrow's CPI will provide the market with evidence if the UK prolonged period of high inflation is over and monetary policy can focus on growth. On that, we look for the BoE to ease rates by another 125bps over the next 12 months, bringing the base rate down to 3.25%.
| Global indexes | Current level | % Change |
| Nikkei 225 Index | 8,276.43 | -962.00% |
| Hang Seng Index | 15,926.38 | 763.00% |
| Shanghai Index | 2,073,57 | 364.00% |
| FTSE 100 Index | 4,147 | 545.00% |
| CAC 40 Index | 3,347 | 535.00% |
| SMI Index | 5,646 | 558.00% |
| DJIA futures | 8,760.00 | 465.00% |
| World markets | Current level | % Change |
| Gold | 861.45 | 1.34 |
| Silver | 10.56 | 4.86 |
| VIX | 69.95 | 9.43 |
| Crude wti | 81.11 | 4.38 |
| USD Index | 81.47 | -1.84 |
| Todays calender | Estimates | Previous | Country / GMT |
| Producer Prices (Sep) Input | -1.5%,19.8 | -2.0%,26.0 | UK / 8.30 |
| Producer Prices (Sep) Output | -0.4%,8.8% | -0.6%,9.7% | UK / 8.30 |
| Producer Prices (Sep) Core | -0.1%,+6.0 | -0.1%,+6.4 | UK / 8.30 |
Currency Tech
AUDUSD
R 3: 0.7357
R 2: 0.7148
R 1: 0.6877
CURRENT: 0.6733
S 1: 0.6437
S 2: 0.6331
S 3: 0.6245
EURJPY
R 3: 144.97
R 2: 141.07
R 1: 139.71
CURRENT: 137.19
S 1: 134.23
S 2: 132.24
S 3: 130.62
USDSGD
R 3: 1.5086
R 2: 1.4980
R 1: 1.4845
CURRENT: 1.4685
S 1: 1.4562
S 2: 1.4489
S 3: 1.4458
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
Published on Mon, Oct 13 2008, 08:14 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
Advanced Currency Markets, S.A.
| 50 Rue du Rhone CH-1204 Geneva
http://www.ac-markets.com | support@ac-markets.com
Legal disclaimer and risk disclosure
This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.Related reports
Daily Forex Outlook - Markets Recover lead by GE surge by Easy Forex
Wed, Dec 3 2008, 02:11 GMT
Short Term Analysis - EURUSD is forming a short term cycle bottom by ForexCycle.com
Wed, Dec 3 2008, 01:20 GMT
Daily Forex Strategy Briefing - Greenback Modestly Lower as Stocks Recover by CMS Forex
Tue, Dec 2 2008, 23:38 GMT
Daily Market Commentary - What is Behind the Dollar Rally? by GFT (Global Forex Trading)
Tue, Dec 2 2008, 22:17 GMT
Market Session Recaps - New York Session by FOREX.com
Tue, Dec 2 2008, 22:13 GMT
usdsek, audusd, eurusd, boe, silver, crisis, ftse, gold, bailout, usdcad, g7, usdnok, eurozone, nikkei, gbpusd, usdchf, uk, cpi, nzdusd, banks, stocks, usddkk, usdjpy
View AllRelated content
Big Thai rate cut seen after airport siege, CPI data
Thomson Financial News | Wed, Dec 3 2008, 04:51 GMT
RPT-GLOBAL MARKETS-Asia stocks, oil rebound but caution prevails
Thomson Financial News | Wed, Dec 3 2008, 04:28 GMT
RPT-GLOBAL MARKETS-Asian stocks, oil rebound, but caution prevai
Thomson Financial News | Wed, Dec 3 2008, 03:48 GMT
GLOBAL MARKETS-Asian stocks, oil rebound, but caution prevails
Thomson Financial News | Wed, Dec 3 2008, 03:47 GMT
Asian Shares Not Taking Wall Street Bait; Gains Muted
Dow Jones | Wed, Dec 3 2008, 02:58 GMT
usdsek, audusd, eurusd, boe, silver, crisis, ftse, gold, bailout, usdcad, g7, usdnok, eurozone, nikkei, gbpusd, usdchf, uk, cpi, nzdusd, banks, stocks, usddkk, usdjpy
View All
Interested in forex trading? forex brokerage firms!
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.