Market Brief
The Bank of China Gov. Zhou Xiaochuan said yesterday that the economy accelerated in the second quarter and that he expected the government’s 8% growth forecast was going to be met. Further data showed that during the month of June electricity consumption jumped by 3.8% from a year before. Reports from a large bank in the region stated that manufacturing activity had accrued in the month of June – this comes as a welcomed sign of a steady recovery in the region. China is largely believed to lead the region and the world out of this crisis – the Chinese economy expanded 6.1% in the first quarter, it’s weakest in a decade – but leaps and bounds better than any other large economy.
Japan’s jobless rate rose a new 5-1/2 year high in May while availability for jobs fell aswell. This said household spending and consumption rose, analysts believe we should see a modest improvement in the Japanese economy as soon as this quarter – however, sluggish domestic demand and poor production levels continue to plague Japan’s rebound attempts.
USDJPY continues to trade it’s 95.00 – 96.60 range with a modest tendancy for the downside. EURUSD tries for new highs, breaking away from it’s previous weekly high of 1.4140 – now capped at June 11th high of 1.4180.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 9958.44 | 1.79 |
| Hang Seng Index | 18515 | -0.07 |
| Shanghai Index | 2959 | -0.54 |
| DAX Index | 4878.53 | -0.14 |
| FTSE 100 Index | 4248 | -0.21 |
| DJIA futures | 8463 | 0.06 |
| Nasdaq futures | 1482.75 | 0.08 |
| World Markets | Current Level | % Change |
| Gold | 941.53 | 0.38 |
| Silver | 14.045 | 1.3 |
| VIX | 25.35 | -2.24 |
| Crude wti | 72.39 | 1.26 |
| USD Index | 79.65 | -0.29 |
| Todays Calender | Estimates | Previous | Country / GMT |
| CAD GDP (MoM) | - | -0.30% | CAD / 12:30 |
| US Consumer Confidence | 55.3 | 54.9 | USD / 14:00 |
| US ABC Consumer confidence | -51 | -53 | USD / 21:00 |
Currency Tech
AUDUSD
R 3: 0.8375
R 2: 0.8263
R 1: 0.8150
CURRENT: 0.8136
S 1: 0.8079
S 2: 0.7985
S 3: 0.7930
EURJPY
R 3: 139.20
R 2: 138.33
R 1: 135.35
CURRENT: 134.78
S 1: 133.38
S 2: 133.00
S 3: 131.41
USDSGD
R 3: 1.4800
R 2: 1.4748
R 1: 1.4649
CURRENT: 1.4466
S 1: 1.4454
S 2: 1.4385
S 3: 1.4334
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
