Market Brief

The USD traded higher during late US session as Hurricane Gustav was downgraded to a tropical storm after going from a category 3 hurricane to a 2. Dollar continued it's recent strength on the back of commodities as Crude declined to $111.15. Gold declined sharply on the first day of the month from recent highs of $835 to $817, which then extended into early Asian trading, falling near $804 levels.

Japanese markets continue to burst as the seams as Prime Minister Fukuda unexpectedly quits, in a remake of Shinzo Abe's resignation after only a short time in office. The Nikkei 225 dropped 1.7% on Monday and is down almost 16% this year. Despite this, The Japanese Yen held it's sharp rally against majors from last week, easing somewhat but staying 1.2% higher against the dollar at 108.09.

Australian Central bank cut rates by 25 basis points to 7% for the first time in almost 7 years in a bid to offset a globally-driven tightening in financial conditions and quell increasing risk of recession. Aussie rose after the announcement but subsequently fell 140pips in 2 hours to a one year low against the dollar, currently trading at 0.8408.

Snap Shot

Global indexes Current level % Change
Nikkei 225 Index 12592-1.88
Hang Seng Index 20764-0.68
Shanghai Index 2323-0.05
FTSE futures 5644-0.7
DAX futures 6500-0.09
Nasdaq futures 1882-1.59
DJIA futures 11512-0.21

World markets Current level % Change
Gold 815.33-0.29
Silver 13.35-0.71
VIX 20.656.28
Crude wti 111.15-3.73
USD Index 77.7540.14

Todays calender Estimates Previous Country / GMT
EUR Zone PPI 1.20%0.90%EUR / 09:00
USD ISM Prices Paid 8288.5US / 14:00


Currency Tech

AUDUSD
R 3: 0.8814
R 2: 0.8694
R 1: 0.8586
CURRENT: 0.8423
S 1: 0.8482
S 2: 0.8276
S 3: 0.8173

EURJPY
R 3: 162.01
R 2: 161.13
R 1: 159.73
CURRENT: 157.16
S 1: 157.56
S 2: 156.03
S 3: 155.16

USDSGD
R 3: 1.4401
R 2: 1.4333
R 1: 1.4276
CURRENT: 1.4300
S 1: 1.4116
S 2: 1.4078
S 3: 1.4016

  • S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot