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Market Morning Briefing
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Market Morning Briefing
Tue, Nov 3 2009, 03:41 GMT
by Kshitij Consultancy Service Team
EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.Morning Briefing : 03-Nov-2009 - 0345 GMT
GOOD MORNING!
EQUITIES
The Dow (9789.44) and the Nasdaq (2049.20) have started off well this week. US stocks recovered part of last week's losses as Dow rose 0.70%. The Asian indices are trading mixed. Shanghai is up 1.07%. Nikkei is closed today because of Culture Day. The Sensex had closed sharply lower last week and will have to be seen if the 15800 Support holds today. Else, 15500 would be the next level to watch before 15200.
COMMODITIES
The Crude (79.05) and Gold (1065.40) have risen yesterday after the US ISM which had come in better than expected. Having been Supported at 76.40 and 1025 respectively over the last few days, we would expect them to move up towards 90 and 1100 respectively over the next several days.
CURRENCIES
The Euro (1.4799) has risen from yesterday's low of 1.4704 and might see further rise towards 1.4850-1.4900 today. Dollar-Yen (90.35) might test the Resistance at 91.00 today and the Euro-Yen Cross might see a rise towards 135.00 today.
The Pound (1.6395) may continue to retain the broad range 1.6200-6600. Aussie (0.9037) is expected to continue with the overall uptrend. The RBA has increased the interest rates by 25 bps at 3.50%. Swiss has been ranged between 1.0150-0280 for sometime and we expect the overall downtrend to continue.
The Korean-Won (1183.30) continue to trade strong near 1183.
DATA TODAY
03:30 GMT AUD RBA Interest Rate
....Expected 3.50%...Previous 3.25%
DATA YESTERDAY
US Manufacturing ISM
...Actual 55.7...Previous 52.6
http://www.kshitij.com/fundamentals/funcharts/usism.shtml
Published on Tue, Nov 3 2009, 03:49 GMT
Archive
- Market Morning Briefing
Published On Mon, Nov 23 2009, 03:32 GMT - Market Morning Briefing
Published On Fri, Nov 20 2009, 03:35 GMT - Market Morning Briefing
Published On Thu, Nov 19 2009, 03:27 GMT - Market Morning Briefing
Published On Wed, Nov 18 2009, 03:36 GMT - Market Morning Briefing
Published On Tue, Nov 17 2009, 03:34 GMT
Kshitij Consultancy Service
| Suite 2G, Tower C, Hastings Court, 96 Garden Reach Road, Kolkata 700 023
http://www.fxthoughts.com | info@kshitij.com
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These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.Related reports
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