Market Brief

The U.S government stated it would raise its current stake in the Wall Street bank to as much as 40% in a recapitalization plan. This sent the dollar tumbling as risk appetite somewhat returned – Asian markets took well to the news except for the Nikkei which traded lower by half a percent. EURUSD traded a range of 1.2764 – 1.2949, rising as the dollar faltered on a brief return of risk appetite.

Gold traded as high as $1’006.42/oz on Friday as it was reported many Japanese funds were buying gold as the Yen lost it’s haven status. A distinct correlation between the monthly USDJPY and Gold chart shows this relationship clearly. USDJPY traded a 92.76 – 93.66 range as the Yen continues to slide against the dollar despite a broad weakening of the dollar. Risk appetite seems to have returned momentarily as further measures to secure the U.S financial system spurs on investors – Gold set to continue rising.

Euro-zone heads hold talks over the weekend that didn’t amount to much – however they do announce a Euro-zone bond issue set to start soon. This is the first sign of a concerted effort – which did well to boost the Euro.

Snap Shot

Global Indexes Current Level % Change
Nikkei 225 Index7376- 0.54
Hang Seng Index13175+ 3.75
Shanghai Index2305+ 1.96
FTSE 100 Index3948+ 1.53
DAX Index4084+ 1.73
DJIA futures7489+ 1.59
Nasdaq futures1192+ 1.79

World Markets Current Level % Change
Gold984.5- 0.85
Silver14.23- 1.45
VIX49.3+ 4.72
Crude wti40.58+ 1.37
USD Index86.15- 0.38

Todays Calender Estimates Previous Country / GMT
Retail sales-2.7%-2.4%CAD / 13:30


Currency Tech

AUDUSD
R 3: 0.6850
R 2: 0.6641
R 1: 0.6550
CURRENT: 0.6525
S 1: 0.6506
S 2: 0.6478
S 3: 0.6418

EURJPY
R 3: 128.59
R 2: 126.34
R 1: 122.18
CURRENT: 121.44
S 1: 120.69
S 2: 120.36
S 3: 120.05

USDSGD
R 3: 1.5500
R 2: 1.5407
R 1: 1.5341
CURRENT: 1.5228
S 1: 1.5185
S 2: 1.5153
S 3: 1.5044

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