Market Brief
Asia was in the red for the fifth consecutive session overnight as investors' risk aversion continues to be supported by global growth concerns, especially the one originating from the world's top three economies, the US, China and Japan. The NIKKEI 225 dropped 0.32% during the Asian session, along with Hong Kong's Hang Seng which lost 0.26% of its value. The AUD however rose against all 10 of its major peers, gaining 0.26% against the USD as the Westpac consumer confidence rose by 3.7% the most in five months, coming in at 99.1. The currency was also given a boost by Premier Jiabao's statement that "growth-stabilizing policies include boosting consumption and diversifying exports, but what is important now is to promote a reasonable growth in investment". As for oil, it managed to rise as much as 1.34% to trade at 84.58 at 06:20 GMT as API Crude inventories showed the world's largest oil consumer's stockpiles declined by 695,000 barrels. Inventories have been dropping by large amounts as the US has been trying to get rid of an oversupply of the commodity. Gold that declined markedly yesterday to reach $1564 is looking for a recovery and is trading around $1572 within yesterday’s range. The commodity will probably be affected by the FOMC minutes to be released today at 20:00 GMT as a large part of speculative spot gold buying has been correlated with market expectation of a further QE by the Fed. The next level for gold on the upside is located at the 18-DMA right above yesterday’s opening level at $1590. Today Germany will be auctioning off 10-Year Bunds even as its shorter maturity note yields advanced into negative territory in the course of the last trading sessions. Spanish and Italian yields deflated yesterday as EU finance ministers brought a concrete execution plan for bond buying and approved the immediate release of EUR 30BN as part of the 100BN credit line granted to Spain to help shore up its ailing banking system. During the US session, US and Canadian trade balances will be released at 12:30 GMT.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 8829.18 | -0.32 |
| Hang Seng Index | 19346.48 | -0.26 |
| Shanghai Index | 2172.57 | 0.37 |
| FTSE 100 Index | 5664.07 | 0.65 |
| DAX Index | 6438.33 | 0.79 |
| SMI Index | 6191.20 | 0.49 |
| DJIA Index | 12653.12 | -0.65 |
| Global Indexes | Current Level | % Change |
| Gold | 1576.53 | 0.59 |
| Silver | 27.03 | 0.75 |
| VIX | 18.72 | 4.11 |
| Crude wti | 84.64 | 0.87 |
| USD Index | 83.30 | -0.12 |
| Todays Calender | Estimates | Previous | Country / GMT |
| AU Westpac Consumer Sentiment | -- | 0.30% | AUD/00:30 |
| AU Home Loans (MoM) | 0.7% | 0.2% | AUD/01:30 |
| GE CPI (YoY) | 1.7% | 1.7% | EUR/06:00 |
| FR Current Account | -3.50B | -4.20B | EUR/06:45 |
| GE 10-Year Bund Auction | -- | 1.520% | EUR/09:30 |
| US Trade Balance | -48.5B | -50.1B | USD/12:30 |
| CA Trade Balance | -1.0B | -0.4B | CAD/12:30 |
| US 10-Year Note Auction | -- | 1.622% | USD/17:00 |
| US FOMC Meeting Minutes | -- | -- | USD/18:00 |
Currency Tech
EURUSD
R 2: 1.2539
R 1: 1.2402
CURRENT: 1.2258
S 1: 1.2152
S 2: 1.2045
GBPUSD
R 2: 1.5623
R 1: 1.5551
CURRENT: 1.5526
S 1: 1.5454
S 2: 1.5404
USDJPY
R 2: 80.620
R 1: 80.100
CURRENT: 79.320
S 1: 79.140
S 2: 78.790
AUDUSD
R 2: 1.0329
R 1: 1.0293
CURRENT: 1.0219
S 1: 1.0149
S 2: 1.0107
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
