ZuluTrade Blog
Image

Market View

Commodity- and the EMG block is weaker against the USD across the board...

Thursday, September 20, 2012 3:23 AM GMT

        Good Morning,

 

- Risk on looks shorter lived after all the stimulus than many believed. Commodity- and the EMG block is weaker against the USD across the board. EURUSD set basically a one week low in Asia at 1.2986. Also EURCHF continues to suffer from the risk-off sentiment. USDJPY dropped also to 78.03 and EURJPY is more than 2 % off since the BOJ QE news (low so far 101.37).

 

- Stocks; Nikkei -1.34 %, Hang Seng -0.54 %, Shanghai Composite -1.12 %, Dow Jones +0.10 %, S+P500 +0.12 %

 

-ECB board member Noyer would be surprised if the ECB's bond-buying program was still in place in a few years' time, Frankfurter Allgemeine Zeitung. * Noyer says he hopes the program will show its effect very quickly * Noyer says ECB will stop its bond purchases immediately should the IMF and Euro-zone governments see that conditions for the program are not being met * Noyer calls the unlimited bond purchasing program "a weapon to deter," that the ECB won't hesitate to deploy to demonstrate its determination

 

-European Central Bank Governing Council member Erkki Liikanen said cross-border bank supervision in the euro area will focus on lenders with international operations and significant presence in the bloc.

 

-WSJ reported that Greece and Troika closed in on a budget cutting plan, citing a senior Greek finance ministry official.

 

-Federal Reserve Bank of Dallas President Richard Fisher said the central bank's third round of bond purchases will probably fail to create jobs while risking higher inflation.

 

-Fed Chairman Bernanke told members of the Senate Finance Committee that don't think Fed tools are strong enough to offset the effects of fiscal shocks, if fiscal cliff is not addressed.

 

-Japan's exports fell 5.8 percent in August from a year earlier, the third straight decline, on weakness in demand from the European Union and China.

 

-Japan Data Recap                        Period      Survey       Actual       Prior

* Merchand. Trade Balance JPY      Aug       -829.3b     -754.1n    -518.9b

* Merchand. Exports yoy                  Aug          -7.5           -5.8            -8.1

* Merchand. Imports yoy                  Aug          -5.5           -5.4             2.1

 * All Industry Activity Index               Jul            -0.5           -0.6             0.3

* Nationwide Dept Sales yoy          Aug             -             -1.0           -3.3

 * Tokyo Dept. Store Sales             Aug              -               0.2          -1.0

 

-China Data Recap                            Period   Survey      Actual      Prior

* HSBC Flash Manufacturing PMI         Sep        -              47.8      47.6

 

-Japanese manufacturers' sentiment index was -5 in Sept. and is seen at -4 in Dec., due to global slowdown and tensions with China, according to the Reuters Tankan survey. Sentiment at non-manufacturers declined one point to +7 in Sept. while seen improving to +10 in Dec.

 

-Takeda Masahiko, deputy director for the Asia-Pacific region at the International Monetary Fund, comments at conference in Sydney. * Says Australia growing at reasonable rate, inflation under control * Says still strong pessimism in Australia private sector amid 2-speed economy, high A$

 

-New Zealand Data Recap  Period      Survey     Actual        Prior

* ANZ NZ Jobs Ads              Aug            -                0.9 %       0.7 %

* GDP qoq                             Q2           0.4 %          0.6 %       1.1 % rev

* GDP yoy                              Q2           2.3 %         2.6 %        2.3 % rev

 

-New Zealand's incoming central bank Governor Graeme Wheeler agreed to focus on keeping annual consumer price gains near 2 percent, Finance Minister Bill English said today. The policy targets agreement with the government also includes a requirement for the Reserve Bank to monitor asset prices and to consider the soundness of the financial system when it sets monetary policy, English said in an e-mailed statement. It leaves intact the main price stability target, including keeping annual inflation in a range of 1 percent to 3 percent on average in the medium term.

 

-The International Monetary Fund's world economic forecasts, to be published in "about two weeks," won't be "incredibly different" from the current prognosis, Olivier Blanchard , the Washington-based lender's chief economist, said in a speech. The world economy is forecast to expand 3.5 in 2012 and 3.9 in 2013, according to the IMF's July forecast.

 

14:30

US Initial Claims

16:00

US Philadelphia Fed Index Sep

16:00

US Leading Indicators Aug

13:44

Fed Rosengren

15:30

Fed Lockhart

19:30

Fed Kocherlakota

23:00

Fed Pianalto

23:30

Fed Krieger

08:00

Germany PPI Aug

09:00

France PMI Manufacturing/Services Sep

09:30

Germany PMI Manufacturing/Services Sep

10:00

Eurozone PMI Manufacturing/Services/Composite Sep

10:00

Italy Industrial Orders/Sales Sep

16:00

Eurozone Consumer Confidence Sep

10:30

UK Retail Sales Aug

12:00

UK CBI Trends Total Orders Sep

12:00

UK CBI Trends Selling Prices Sep

20:00

UK BOE King

08:00

Switzerland Trade Balance Aug

09:15

Switzerland Industrial Production Q2

08:00

Japan Machine Tool Orders Aug

(CET)

 

Have a nice day !

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.