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Morning Comment
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Optimism Ahead of US Earning Results
Tue, Jul 14 2009, 10:30 GMT
by Tauane Sousa
- Business sentiment rises in Australia
- US Earning Results on focus
- Sterling rises amid strong report figures
The Business Sentiment in Australia has risen in Australia for the first time since 2007. The sentiment index rose 6 points to 4 after been stagnated below zero for 17 months, according to a National Australia Bank Ltd. Survey of more than 400 companies questioned. Much of the improvement in sentiment can “be put down to the prospect that ‘Armageddon’ had been avoided,” said Alan Oster, chief economist at National Australia Bank in Melbourne. “Business conditions appear to have rebounded to a level roughly similar to that reported prior to the collapse of Lehman Brothers Holdings Inc. in September.”
Today the focus will be on the US Earning Results. Strong gains on Wall Street were underpinning demand for riskier currencies such as the euro and the New Zealand and Australian dollars, dealers said. Markets would be paying close attention to companies' earnings forecasts, "which will also have a significant impact on investor sentiment," they added.
Sterling began the day yesterday weighed down by adverse risk sentiment. The optimist ahead of today's US earnings results helped the GBP to recover some grounds. Gains against the dollar have been further aided by news overnight from RICS that its house prices balance, though still negative, was at its highest since September 2007 with price expectations turning positive.
Published on Tue, Jul 14 2009, 10:39 GMT
Archive
- Markets Turn Cautious Ahead of Data
Published On Wed, Aug 5 2009, 10:30 GMT - Markets Remain in Optimistic Mood
Published On Fri, Jul 24 2009, 12:11 GMT - Risk Appetite Returns
Published On Thu, Jul 16 2009, 12:44 GMT - Optimism Ahead of US Earning Results
Published On Tue, Jul 14 2009, 10:30 GMT - Sterling is Doomed by Inflation
Published On Mon, Jul 13 2009, 12:16 GMT
Tamley Global Markets
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This market research report has been prepared by Tamley Global Markets. The information herein has been obtained from sources believed to be reliable and although every effort has been taken to ensure that the assumptions on which the report is based are reasonable, we do not endorse that this is accurate or complete and it should not be relied upon as such. This report does not intend to be an offer, or the solicitation of any offer, to buy or sell securities referred to herein. All opinions and data herein constitute a Tamley Global Markets judgment as of the data of the report and are subject to change without notice.Related reports
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