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.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 9,786.82 | -0.79 |
| Hang Seng Index | 18,020.45 | -1.27 |
| Shanghai Index | 2,755.66 | -0.45 |
| FTSE futures | 4,402.00 | -0.72 |
| DAX futures | 5,026.50 | 0.3 |
| SMI Futures | 5,403.00 | 0.05 |
| DJIA futures | 8,737.00 | -0.25 |
| World Markets | Current Level | % Change |
| Gold | 950.63 | -0.12 |
| Silver | 14.92 | -0.23 |
| VIX | 29.77 | 0.5 |
| Crude wti | 68.85 | 1.11 |
| USD Index | 80.95 | 0.04 |
| Todays Calender | Estimates | Previous | Country / GMT |
| Germany Trade balance, bn (sa) | 9.2 | 8.9 | EUR / 06.00 |
| Germany: Industrial production, % m/m (y/y) | -0.1 | 0.0 (-20.3 | EUR / 10.00 |
| Wholesale inventories, % m/m (y/y) | -1.0 (-5.4 | -1.6 (-3.5 | USD / 14.00 |
| Core machinery order, % m/m | -0.7 | -1.3 | JPY / 23.50 |
| Corporate goods price index, % y/y | -5.1 | -3.8 | JPY / 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
