Market Brief

The USD was stronger in the Asian session, as risk barometers, such as AUD, point to a decline in FX risk appetite. The EURUSD traded down to 1.3660 from 1.3960, while the USDJPY, in choppy trading, traded between 96.30 and 95.80. Commodity prices were also softer, with crude wti trading below the $70.00bll level. Markets have been debating whether the momentum of Chinese commodity stockpiles has been slowing and the spillover effect on prices. We expect direction conviction to be scarce and FX prices to be range bound ahead of this week's FOMC meeting. The main event for today will be the German IFO. The index has been a timely indicator to the Euro region's largest economy and the market has become very sensitive to its changes.

Snap Shot

Global Indexes Current Level % Change
Nikkei 225 Index9,826.27+ 0.40
Hang Seng Index18,049.88+ 0.72
Shanghai Index2,896.30+ 0.54
FTSE 100 Index4,305.13- 0.93
DAX Index4,781.25- 1.20
SMI Index5,398.28- 0.43
DJIA futures8,440.00- 0.42

World Markets Current Level % Change
Gold933.49- 0.06
Silver14.05- 1.26
VIX27.99- 6.79
Crude wti69.19- 0.51
USD Index80.62+ 0.43

Todays Calender Estimates Previous Country / GMT
Germany: IFO business climate, index Jun85.084.2EUR / 08.00
Germany: IFO current assessment, index Jun83.182.5EUR / 08.00
Germany: IFO business expectations, index Jun87.085.9EUR / 08.00
ECB President Trichet gives a keynote speech----EUR / 12.00
NBH interest rate announcement, % 23-Jun9.509.50HUF / 12.00
BoI interest rate announcement, % 25-Jun0.500.50ILS / 14.30


Currency Tech

AUDUSD
R 3: 0.8379
R 2: 0.8265
R 1: 0.8120
CURRENT: 0.7981
S 1: 0.7828
S 2: 0.7745
S 3: 0.7700

EURJPY
R 3: 139.22
R 2: 138.30
R 1: 135.37
CURRENT: 133.11
S 1. 132.36
S 2: 131.50
S 3: 129.70

USDSGD
R 3: 1.4800
R 2: 1.4745
R 1: 1.4666
CURRENT: 1.4575
S 1: 1.4425
S 2: 1.4385
S 3: 1.4336

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