Market Brief

The Usd was range bound in the Asian session, as risk sentiment rebounded slightly prompting the Usd and Jpy selling. The EurUsd traded between 1.2993 and 1.2879, while the UsdJpy from 92.40 to 90.90. Market optimism improved mainly due to the expectations of president Obama's $800bn+ stimulus package and bank package proposed by Treasury Secretary Geithner, expected Tuesday. The sharp deterioration in US labor markets, highlighted Friday by Non-farm payrolls printed at 598k vs. 540k exp decline, only increased the probability that the proposed stimulus package would pass Congressional scrutiny. Asian equity markets closed higher and European indexes are currently gaining ground.

In Japan, Machinery orders for December fell by 1.7% m/m, less than market expectations of a decline of 8.6% m/m and after a November -16.2% m/m decline

With a light economic calendar today markets will be watching for developments surrounding the President Obama’s stimulus plan and corresponding reaction in equity markets.

Snap Shot

Global Indexes Current Level % Change
Nikkei 225 Index7,969.03- 1.33
Hang Seng Index13,769.06+ 0.83
Shanghai Index2,224.71+ 1.99
FTSE 100 Index4,280.59- 0.33
DAX Index4,611.38- 0.71
SMI Index5,124.70+ 0.03
DJIA futures8,163.00- 1.10

World Markets Current Level % Change
Gold904.41- 0.77
Silver13.02- 0.76
VIX43.37- 0.82
Crude wti39.73- 1.09
USD Index85.45+ 0.12

Todays Calender Estimates Previous Country / GMT
Germany: Trade balance, ¤ bn (sa) Dec10.010.7GE / 7.00
E15: MFI interest rate statistics published Dec----EZ / 9.00


Currency Tech

AUDUSD
R 3: 0.7269
R 2: 0.6844
R 1: 0.6803
CURRENT: 0.6686
S 1: 0.6476
S 2: 0.6403
S 3: 0.6355

EURJPY
R 3: 125.28
R 2: 122.17
R 1: 119.98
CURRENT: 117.89
S 1: 115.71
S 2: 114.22
S 3: 113.15

USDSGD
R 3: 1.5178
R 2: 1.5115
R 1: 1.5066
CURRENT: 1.4989
S 1: 1.4809
S 2: 1.4755
S 3: 1.4675

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