Market Brief
Asian markets traded with some consternation this morning as unrest in Jakarta tended to unsettle investors sending the Yen higher on risk aversion. This further exacerbated the fears that lender CIT was imminently close to bankruptcy. This said the recent optimism in markets on the back of strong earning’s numbers, a solid GDP reading and manufacturing data was still present while investors read into “Dr. Gloom” – Pr. Nouriel Roubini’s comments on the recession. Roubini who predicted the recession said his comments that the crisis was almost over were “taken out of context” – he said things were improving but that we had some ways to go before we could call victory.
The Australian government announced during the session that it had set a new monthly record by sell AUD 1.94Bn in the spot FX market as part of its “reserve management” during the month of June. The Aussie export price index also exceeded expectations coming in at -20.6% (cons.-16%, prev. -4.6%).
As markets get thinner into the summer months we expect to stick to the ranges, however the low liquidity will mean any action by big players will have the potential to move markets violently – we suggest that clients take heed when trading, if in doubt stay out!
| Global indexes | Current level | % Change |
| Nikkei 225 Index | 9395.32 | + 0.55 |
| Hang Seng Index | 18843.97 | + 2.63 |
| Shanghai Index | 3189.74 | + 0.19 |
| FTSE 100 Index | 4385.73 | + 0.55 |
| DAX Index | 4997.23 | + 0.81 |
| DJIA futures | 8711.82 | + 1.11 |
| Nasdaq futures | 1885.03 | + 1.19 |
| World markets | Current level | % Change | |
| Gold | 936.68 | - 0.07 | |
| Silver | 13.27 | - 0.28 | |
| VIX | 25.42 | - 1.82 | |
| Crude wti | 61.69 | - 0.53 | |
| USD Index | 79.536 | + 0.37 |
| odays calender | Estimates | Previous | Country / GMT |
| EURO Zone Trade Balance | 0.0B | 2.7B | EUR / 09:00 |
| CAD Consumer Price Index | -0.3% | 0.1% | CAD / 11:00 |
| CAD CPI | 1.9% | 2.0% | CAD / 11:00 |
Currency Tech
AUDUSD
R 2: 0.8155
R 1: 0.8035
CURRENT: 0.7996
S 1: 0.7700
S 2: 0.7630
EURJPY
R 2: 134.80
R 1: 132.82
CURRENT: 131.95
S 1: 127.82
S 2: 126.98
AUDJPY
R 2: 76.022
R 1: 75.205
CURRENT: 74.88
S 1: 73.204
S 2: 71.476
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
