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Asian Session: Market Jitters

Tue, Jun 9 2009, 07:59 GMT
by Peter Rosentreich

ACM - Advanced Currency Markets  |  View company's profile


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Market Brief

The USD strengthened in Asian session as the S&P downgraded Ireland's sovereign credit rating for the second time in three months prompting risk aversion trading. The dollar Index climbed back above 80, a crucial level as more and more economic data indicates that the worst of recession is over. Investors’ appetite for gold also seems to be waning as Turkey, one of world’s leading gold consumers, reported gold consumption falling back to zero in May from 26kg the previous month. With the global economy recovering and the dollar regaining momentum, it is hard to see further gold gains which were mainly supported by risk aversion.

Snap Shot

Global Indexes Current Level % Change
Nikkei 225 Index9,786.82-0.79
Hang Seng Index18,020.45-1.27
Shanghai Index2,755.66-0.45
FTSE futures4,402.00-0.72
DAX futures5,026.500.3
SMI Futures5,403.000.05
DJIA futures8,737.00-0.25

World Markets Current Level % Change
Gold950.63-0.12
Silver14.92-0.23
VIX29.770.5
Crude wti68.851.11
USD Index80.950.04

Todays Calender Estimates Previous Country / GMT
Germany Trade balance, bn (sa)9.28.9EUR / 06.00
Germany: Industrial production, % m/m (y/y)-0.10.0 (-20.3EUR / 10.00
Wholesale inventories, % m/m (y/y)-1.0 (-5.4-1.6 (-3.5USD / 14.00
Core machinery order, % m/m-0.7-1.3JPY / 23.50
Corporate goods price index, % y/y-5.1-3.8JPY / 23.50


Currency Tech

AUDUSD
R 3: 0.8378
R 2: 0.8263
R 1: 0.8123
CURRENT: 0.7878
S 1: 0.7745
S 2: 0.7703
S 3: 0.7630

EURJPY
R 3: 144.61
R 2: 141.75
R 1: 139.75
CURRENT: 136.18
S 1: 135.30
S 2: 133.89
S 3: 131.49

USDSGD
R 3: 1.4803
R 2: 1.4748
R 1: 1.4666
CURRENT: 1.4639
S 1: 1.4425
S 2: 1.4386
S 3: 1.4336

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


Archive


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.
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