{"id":21,"date":"2012-02-28T04:17:00","date_gmt":"2023-03-31T20:04:36","guid":{"rendered":""},"modified":"2024-06-18T10:16:58","modified_gmt":"2024-06-18T10:16:58","slug":"commodity-and-emg-currencies-saw-a-nice-rebound-overnight","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/ar\/commodity-and-emg-currencies-saw-a-nice-rebound-overnight\/","title":{"rendered":"Commodity and EMG currencies saw a nice rebound overnight"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"margin-bottom: 1.5pt;\"><span style=\"font-size: small;\">Good Morning,<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; Commodity- and EMG currencies saw a nice rebound overnight, after they have been mainly under pressure. Also equity markets in Asia rallied towards the end of their session. Oil continued to drift lower from the 11 months high hit last Friday. EURUSD has digested S+P&#8217;s EFSF outlook revision and another Greece downgrade well.<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; Stocks: Nikkei +0.92 %, Hang Seng +1.11 %, Shanghai Composite -0.01 %, Dow Jones -0.44 %, S+P500 +0.14 %<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; European Financial Stability Facility AA+\/A-1+ ratings affirmed by S&amp;P.<\/span><\/p>\n<ul>\n<li>\n<p>S&amp;P says outlook reflects lowering of outlooks of France, Austria to negative on Jan. 13<\/p>\n<\/li>\n<li>\n<p>S&amp;P may lower EFSF ratings if it lowers L-T sovereign credit ratings on any of EFSF&#8217;s AAA or AA+ rated members (Germany, France, Netherlands, Austria, Finland, Luxembourg) to below AA+<\/p>\n<\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin-bottom: 1.5pt;\"><span style=\"font-size: small;\">&#8211; Greece&#8217;s credit ratings were cut to &#8220;Selective Default&#8221; by Standard &amp; Poor&#8217;s after it negotiated the biggest sovereign debt restructuring in history.<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; Standard &amp; Poor&#8217;s decision to lower Greece&#8217;s credit rating to Selective Default, was &#8220;duly anticipated and taken into account in the planning of the PSI operation,&#8221; Luxembourg&#8217;s Prime Minister Jean-Claude Juncker, who also heads the group of euro-area finance ministers.<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; ECB Nowotny said the ECB has shelved its government bond purchase program for the time being. &#8220;This program is more or less on hold,&#8221; Nowotny said late yesterday in London. He said there is a &#8220;clear policy line&#8221; of keeping it &#8220;in reserve&#8221; while &#8220;there is not an intention of using it.&#8221;<\/span><\/p>\n<p><span style=\"font-size: small;\">&#8211; Japanese Finance Minister Jun Azumi said on Tuesday he told his counterparts at a Group of 20 meeting over the weekend that he is prepared to take firm measures against excessive currency moves, reiterating his threat of intervention against yen gains. <\/span><br \/><span style=\"font-size: small;\">&#8211; Federal Reserve Governor Elizabeth Duke said slow improvement in housing and mortgage markets has impeded the benefit from record-low interest rates to U.S. economic growth.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<table>\n<caption>&nbsp;<\/caption>\n<tbody>\n<tr>\n<td><span style=\"font-size: small;\">Japan Data recap<\/span><\/td>\n<td><span style=\"font-size: small;\">Period<\/span><\/td>\n<td><span style=\"font-size: small;\">Survey<\/span><\/td>\n<td><span style=\"font-size: small;\">Actual<\/span><\/td>\n<td><span style=\"font-size: small;\">Prior<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: small;\">Retail Trade yoy<\/span><\/td>\n<td><span style=\"font-size: small;\">Jan<\/span><\/td>\n<td><span style=\"font-size: small;\">1.0%<\/span><\/td>\n<td><span style=\"font-size: small;\">4.1%<\/span><\/td>\n<td><span style=\"font-size: small;\">0.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: small;\">Large Retailer Sales<\/span><\/td>\n<td><span style=\"font-size: small;\">Jan<\/span><\/td>\n<td><span style=\"font-size: small;\">-1.1%<\/span><\/td>\n<td><span style=\"font-size: small;\">.1.0%<\/span><\/td>\n<td><span style=\"font-size: small;\">-0.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: small;\">Small Business Confidence<\/span><\/td>\n<td><span style=\"font-size: small;\">Feb<\/span><\/td>\n<td><span style=\"font-size: small;\">&#8211;<\/span><\/td>\n<td><span style=\"font-size: small;\">45.3<\/span><\/td>\n<td><span style=\"font-size: small;\">45.7<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"MsoNormal\" style=\"margin-bottom: 1.5pt;\"><span style=\"font-size: small;\">&#8211; 1430 US Durable Goods Orders Jan<\/span><br \/><span style=\"font-size: small;\">&#8211; 1500 US S+P\/Case Shiller Home Price Index Dec<\/span><br \/><span style=\"font-size: small;\">&#8211; 1600 US Consumer Confidence Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1600 Fed Duke<\/span><br \/><span style=\"font-size: small;\">&#8211; 0800 Germany GfK Consumer Confidence Mar<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 Eurozone Business Climate Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 Eurozone Consumer Confidence Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 Eurozone Economic Confidence Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 Eurozone Industrial Confidence Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 Eurozone Service Confidence Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 1100 ECB Nowotny<\/span><br \/><span style=\"font-size: small;\">&#8211; 1200 UK CBI Reported Sales Feb<\/span><br \/><span style=\"font-size: small;\">&#8211; 2210 BOE Tucker<\/span><br \/><span style=\"font-size: small;\">&#8211; 0800 Switzerland Consumption Indicator Jan<\/span><br \/><span style=\"font-size: small;\">&#8211; 1830 SNB Jordan<\/span><br \/><span style=\"font-size: small;\">&#8211; 0930 Sweden PPI Jan<\/span><br \/><span style=\"font-size: small;\">&#8211; 0930 Sweden Retail Sales Jan<\/span><br \/><span style=\"font-size: small;\">&#8211; 0930 Sweden Trade Balance Jan<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 1.5pt;\">&nbsp; &nbsp; &nbsp; (CET)<\/p>\n<p><span style=\"font-size: small;\">Have a good day!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good Morning, &#8211; Commodity- and EMG currencies saw a nice rebound overnight, after they have been mainly under pressure. Also equity markets in Asia rallied towards the end of their session. Oil continued to drift lower from the 11 months high hit last Friday. EURUSD has digested S+P&#8217;s EFSF outlook revision and another Greece downgrade [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-21","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"_edit_last":["4"],"rank_math_analytic_object_id":["2513"],"_edit_lock":["1718705819:4"],"rank_math_seo_score":["10"],"rank_math_primary_category":["2"],"rank_math_internal_links_processed":["1"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/comments?post=21"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":4134,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/21\/revisions\/4134"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/media?parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/categories?post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/tags?post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}