ZuluTrade Blog
Image

Market View

Currencies traded in a narrow range overnight

Friday, December 16, 2011 12:00 AM GMT

Good Morning,

  • Currencies traded in a narrow range overnight, after the big risk sell off yesterday. Swiss National bank’s rate decision  will be highlight today, besides a lot of US data in the afternoon.
  • Stocks: Nikkei -1.66 %, Hang Seng -2.25 %, Shanghai Composite -1.81 %, Dow Jones -1.10 %, S+P500 -1.13 %
  • ECB Noyer said that credit-rating companies have become "incomprehensible and   irrational" and said the U.K. should be downgraded before France, according to an interview published in Le Telegramme newspaper. "A downgrade doesn't strike me as justified based on economic fundamentals," Noyer was quoted. "Or if it is, they should start by downgrading the U.K., which has a bigger deficit,  as much debt, more inflation, weaker growth and where bank lending  is collapsing," he said.
  • Federal Reserve Chairman Ben S. Bernanke told Republican senators the Fed plans no additional aid to European banks amid the region's sovereign debt crisis, according to two lawmakers who attended the meeting.
China Data RecapPeriodSurveyActualPrior
Actual FDI yoy Nov - -9.8 % 8.8 %
HSBC Flash China Manuf PMI Dec - 49.0 47.7
  • Boosting domestic demand in China will be the "central strategy" to sustain growth in the nation next year, Zhou Xiaochuan, governor of the People's Bank of China, said at a conference in Beijing today. The financial sector should provide more support for the real economy, he said.
  • China will impose punitive duties of up to 22 percent on large cars and SUVs  exported from the United States, China's Commerce Ministry said on Wednesday, the latest in a series of trade disputes between the world's two largest economies.
Japan Data RecapPeriodSurveyActualPrior
Tankan Large Manufacturer Index Q4 -2 -4 2
Tankan Non-Manufacturing Q4 1 4 1
Tankan Large Mfg Outlook Q4 -3 -5 4
Tankan Non-Mfg Outlook Q4 1 0 1
Tankan Large All Indust Capex Q4 2,5% 1,4% 3,0%
Machine Tool Orders Nov F - 15,8 15,9
  • Australia Consumer Inflation Expectations were 2.4 % in December versus 2.5 %  in the previous month.
  • New Zealand Business PMI in November was down at 45.7 from 46.6 in October.

- 1430 US PPI Nov
- 1430 US Current Account Q3
- 1430 US Empire Manufacturing Dec
- 1430 US Initial Claims
- 1500 US TIC Data Oct
- 1515 US Industrial Production Nov
- 1515 US Capacity Utilization Nov
- 1600 US Philly Fed Dec
- 2120 Fed Lockhart
- 0900 France Manufacturing PMI Dec
- 0900 France Services PMI Dec
- 0930 Germany Manufacturing PMI Dec
- 0930 Germany Services PMI Dec
- 1000 Eurozone Manufacturing PMI Dec
- 1000 Eurozone Services PMI Dec
- 1100 Eurozone CPI Nov
- 1100 Eurozone Employment Q3
- 1225 ECB Draghi
- 0915 Switzerland Industrial Production Q3
- 0930 SNB Rate Announcement
- 1030 UK Retail Sales Nov
- 1030 UK BOE/GFK Inflation Next 12 Months Nov
- 1000 Norway Trade Balance Nov
- 0930 Sweden Unemployment Rate Nov
- 1430 Canada Capacity Utilization Q3

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.