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Ut laoreet condimentum eros, a dapibus eros hendrerit eu. Integer erat est, mattis ac egestas vitae, tincidunt a lacus. Donec scelerisque metus nec pellentesque varius. Nunc malesuada, nisi ut adipiscing porttitor, odio velit placerat tortor, at commodo purus massa a elit. Proin euismod et ante vel tempus. Ut nec volutpat dui. Curabitur quis nibh at dolor cursus mollis. Ut sagittis, tortor sit amet fringilla blandit, mi libero suscipit est, ac lacinia sem nulla ac arcu. Maecenas ligula leo, auctor sit amet urna sit amet, consectetur lobortis justo. Proin non venenatis erat. Quisque sem elit, sagittis vitae congue vel, tempor sit amet mauris. Curabitur adipiscing diam nec eleifend accumsan. Curabitur gravida commodo neque vel euismod. Proin sed massa pharetra, facilisis nisi vitae, placerat ipsum. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Phasellus id purus rhoncus sapien fermentum imperdiet accumsan a sapien.

Daily Market Review 30/07/2013

In currencies today, the US dollar has climbed higher today, recovering from recent falls, on caution that the Federal Reserve may lay the groundwork for curbing stimulus at a policy meeting this week. The dollar index was up 0.1 percent at 81.724, pulling away from Monday’s five-week low of 81.499 and holding above chart support at 81.524, the 200-day moving average.

The dollar has been in a state of downward pressure over the past few weeks, folllowing Federal Reserve Chairman Ben Bernanke’s indications that a highly accommodative monetary policy was still necessary. U.S. monthly jobs figures are due to be released on Friday, and some traders are hoping this month’s results could lead to a stronger dollar.

The Australian dollar slid 1.5 percent today to $0.9064, just above a near three-year low of $0.8998 hit in mid-July.Reserve Bank of Australia Governor Glenn Stevens said the currency could fall further and there was room for more interest rate cuts.

The Swedish crown also lost ground after data showed the Swedish economy unexpectedly contracted by 0.1 percent during the second quarter of the year, helping the euro rise 0.6 percent to 8.6412 crowns.

In Europe, the euro is currently steady at $1.3266, just below Friday’s five-week high of $1.32975, whilt the European Central Bank and the Bank of England are expected to maintain pledges to keep monetary policy loose after policy meetings ending on Thursday. Analysts recommended traders reinitiate short euro/dollar positions, with a target of $1.28 and a stop at $1.3430.

In Asian markets, the US dollar was up 0.3 percent at 98.19 against the Japanese yen in trade today.  Japan’s Nikkei average rebounded from a one-month low today as the yen’s retreat against the dollar drove exporters higher, while a rise in Chinese shares for the first time in five days lifted investor sentiment. The Nikkei Index gained 1.5 percent to 13,869.82 after falling yesterday to the lowest level since June.

Meanwhile, China’s top decision-making body, the politburo, held a meeting on the economic situation in the first half of the year and to discuss key tasks for the second half. . The Chinese economy has slowed in nine of the past 10 quarters, and the meeting is intended to curb this slide, with official data showing economic growth slowed to 7.5 percent in the second quarter from 7.7 percent in the previous quarter

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 20/06/2013

Shares, bonds and commodities have fallen sharply around the world this morning as the dollar rose after the U.S. Federal Reserve explicitly signaled an end to easy money and data showed China’s economy is losing momentum.

The sell-off began after Fed chairman Ben Bernanke confirmed that U.S. economic growth was strong enough to begin tapering back on its $85 billion in monthly asset purchases later this year.

“Bernanke came across as being quite clear and I think people were hoping for a less clear cut path to higher rates and that came as a little bit of shock to the market,” Said Luca Jellinek, head of European interest-rate strategy at Credit Agricole.

Ten-year U.S. Treasury note yields are now at 15-month highs of about 2.38 percent after the comments, lifting the dollar against a wide range of global currencies and sparking a slump in global equity markets.

The selling accelerated when a survey of China’s factories showed activity slumping to a nine-month low just as a squeeze in the nation’s money markets sent short term rates to record highs.

Among a host of unwanted milestones, Asian stocks outside Japan have suffered their biggest daily losses since late 2011, German Government bond futures have dropped to their lowest levels since February and oil has slumped by around $1.50 a barrel.

The prospect of higher U.S. rates ahead added momentum to sell-offs across emerging markets, sending MSCI’s benchmark index 3 percent lower. While in Asia currency falls sparked intervention from central banks in India and South Korea.

In Europe the broad FTSEurofirst 300 index, which only last month hit a 5-1/2 year high, was down by 1.5 percent in early trade, while the euro zone’s blue-chip Euro STOXX 50 index has fallen 2 percent.

The euro zone’s private sector business slump has also eased more than expected this month, business surveys are showing today, but a continued slide in new orders suggests a full recovery is still some way off.

The data will come as good news for the European Central Bank as the decline eased across the 17-nation bloc.

Markit’s Flash Eurozone Composite Purchasing Managers’ Index, which makes up around 85 percent of the final reading and is seen as a reliable economic growth indicator for the bloc, rose to 48.9 in June from May’s 47.7.

That was its highest since March 2012, and beat forecasts for a more modest upturn to 48.1, but the index has been below the 50 mark that separates growth from contraction for all apart from one of the last 22 months.

The flash manufacturing PMI has inched up to 48.7 from 48.3, just pipping forecasts for a reading of 48.6. However, as in every month for the last two years, some of that activity was generated by running down backlogs of work.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

 

Economic Events 27/03/2013

07:00 EUR German Consumer Climate

Forecast: 5.9 Previous: 5.9

The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

07:45 EUR French GDP (QoQ)

Forecast: Previous: -0.3%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

08:00 CHF KOF Leading Indicators

Forecast : 1.02 Previous: 1.03

The KOF Leading Indicators Index is designed to predict the direction of the economy over the following six months. The index is a composite reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing. A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.

09:30 GBP Current Account

Forecast: –12.7B Previous: -12.8B

The Current Account index measures the difference in value between exported and imported goods, services and interest payments during the reported month. The goods portion is the same as the monthly Trade Balance figure. Because foreigners must buy the domestic currency to pay for the nation’s exports the data can have a sizable effect on the GBP. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

09:30 GBP GDP (YoY)

Forecast: 0.3% Previous: 0.3%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

09:30 GBP GDP (QoQ)

Forecast: –0.3% Previous: 0.3%

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

12:30 CAD Core CPI (MoM)

Forecast: Previous: 0.1%

The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

12:30 CAD CPI (MoM)

Forecast: 1.0% Previous: 1.0%

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

12:30 CAD CPI (YoY)

Forecast: 1.0% Previous: 0.5%

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

14:00 USD Pending Home Sales (MoM)

Forecast: –0.5% Previous: 4.5%

The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

21:45 NZD Building Consents (MoM)

Forecast: Previous: -0.4%

Building Consents (also known as Building Permits) measures the change in the number of new building consents issued by the government. Building consents are a key indicator of demand in the housing market. A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.

A Brief Look at FTSE 100 18/03/2013

Forex on FTSE 100 are trading lower today as the fears over Cyprus’ bailout weigh heavily on investors’ decisions. The major index in Britain opened 86 points down this morning breaking the support at 6535.

Last week Forex on FTSE 100 topped their new highest level of 6535. The previous high was also made last week and it hit the highest price of December 2007. Sharp decline fromis morning of the index price could continue as traders concerns over the bank stability of the Cyprus region will weigh on markets.

The biggest losers of the index for today are Eurasian Natural Resources and Barclays which are falling respectively 7.73% and 5.12%. On the other side of the river are Mark & Spencer Group and Croda International with gains of 7.73% and 1.40% in the middle of the trading day in London.

On other hand, a lot of important news for the U.K. economy is estimated this week. The beginning is with the annual inflation report that is waiting tomorrow at 9:30 GMT. Change in the price of goods and services purchased by consumers are forecasted to rise from 2.7% to 2.8%. The Producer Price Index also is estimated higher than previous on Tuesday. Monthly PPI for January is 1.3% while the percentage for the previous is predicted to become 1.6. On Wednesday, forex traders should look at the Unemployment rate with forecast at the same level like the previous 7.8%.There is also important news on Thursday when monthly Retail Sales report would be released at 9:30 London time. Analysts await economic indicator to move above positive zone for the first time since five months.

After the negative gap opening today, price of the index returned half of the loss. Forex on FTSE 100 reversed again below 6500 mark and currently are trading around 6445. General positive momentum is still intact and only break below 6242 could be taken as a sign for larger decline. Until this level holds daily outlook will stay bullish. On upside, break of the highest level of this year would lead the price towards 6614 level first and all-time high at 6750 after that.

Disclaimer:

The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

A Brief Look at Nikkei 225 15/03/2013

The Japanese major index rallied to a fresh four-and-half year high today as investor’s sentiment was led by the rumors over monetary stimulus. Forex on the Nikkei 225 gained 179.76 points or 1.45% to close the day at 12560.95. The psychological mark of 12 500 was broken and further a rise could be expected during the next week if the positive economic sentiment continues.

Japan’s upper house of parliament approved the nomination of Prime Minister Shinzo Abe as the new governor of Bank of Japan. The last step is to see a confirmation from Haruhiko Kuroda to become the new governor of the BOJ. Kikuo Iwata and Hiroshi Nakaso were nominated for deputy governors. The Tokyo index rallied as hopes of a fiscal stimulus gained fresh momentum after approval. Market participants that the new governor will start aggressive monetary easing, as announced by Prime Minister Shinzo Abe in November 2012.

For the last year Forex on the Nikkei 225 gained 24.08% as the index traded around 8238.96 one year before. A sharp rally started in the middle of November after a clear break above the 9000 points mark. This trend is very strong and provides good places for new entries as we didn’t see some deeper correction of the positive movement.

Market analysts are looking ahead and a new wave on the upside is expected. The ranging trading from the previous week is already over and the current first support on the downside could be set at the previous highest level of the year at 12440. A break there could lead the price to the next support level of 12190. Price movement above this level would return neutral trading but general the bullish trend will stay intact. Only a break above the major support of 11050 would trigger a further decline. Above this level the trend will be bullish and new highs are estimated.

Disclaimer:

The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

 

Economic Events 11/03/2013

08:15 CHF Retail Sales (YOY)

Forecast: 2.8% Previous: 5.1%

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.

18:30 INR Indian Interest Rate Decision

Forecast: Previous: 7.75%

Monetary policy refers to the actions undertaken by a country’s monetary authority, central bank or government to achieve certain national economic goals. It is based on the relationship between interest rates at which money can be borrowed and total supply of money. Policy rates are the most important rates within a country’s monetary policy. Changing them influences economic growth, inflation, exchange rates and unemployment. A higher than expected reading should be taken as positive/bullish for the INR, while a lower than expected reading should be taken as negative/bearish for the INR.

23:50 JPY BSI Large Manufacturing Conditions

Forecast: Previous: -10.3

The Business Sentiment Index (BSI) Large Manufacturing Conditions Index measures business sentiment in manufacturing. The data is derived from a survey of large Japanese manufacturers. It is a key indicator of the strength of the Japanese economy, which relies heavily on the manufacturing industry. A level above zero indicates improving conditions; a level below indicates worsening conditions. This survey may help to predict the Bank of Japan’s Tankan Large Manufacturing Index which is generally released about a week later. A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.

Daily Market Review 11/02/2013

U.S. equities ended slightly higher on a relatively low volume on Friday, providing traders of binary call options with excellent opportunities for making money. The tech-heavy NASDAQ index finished the session at its highest level since November 2000, but gains remained somewhat limited as market participants preferred to stay on the sidelines, waiting for stronger signals in order to open larger positions in technology stocks. In spite of this, all major indices finished higher on Friday, the Dow remained below the psychologically significant 14,000 level, finishing the week in the red, after advancing for five consecutive weeks before that. The Dow Jones Industrial Average rose by 48.92 points, or 0.35%, to close at 13,992.97, propelled higher by Hewlett-Packard and United Health, and the S&P 500 added 8.54 points, or 0.57%, to finish at 1,517.93. The NASDAQ gained 28.74 points, or 0.91%, to end at 3,193.87. The CBOE Volatility Index (VIX), considered by many to be the best indicator of fear in the market, declined to finish the day around 13. Over the course of the week, the Dow dropped 0.12%, the S&P 500 inched 0.31% higher, and the NASDAQ rose 0.46%. Pfizer was the biggest loser among Dow components for the week, while UnitedHealth was the biggest gainer. Among key S&P sectors, consumer staples advanced by the greatest amount, while telecoms lost ground. On the economic front, the U.S. trade deficit surprised market participants, coming at its narrowest in three years. The wholesale inventories, however, dropped to $497.65 billion in December, according to the Commerce Department. This was the indicator’s first decline since June. China announced that its exports rose by 25% in January on a year-over-year basis, the strongest reading since April 2011 and ahead of market expectations for a 17% increase. Imports were also released above expectations, gaining 28.8% for the year. Meanwhile, data for the German trade balance showed that the country had a surplus of 16.8 billion for 2012, which is the country’s second highest reading in over 60 years. CIT Group advanced after Reuters announced that the bank is having preliminary talks to sell itself to other banks including Toronto-Dominion and Wells Fargo. McDonald’s inched slightly higher even though the fast-food company announced that same-store sales for January slipped 1.9%, a steeper decline than what analysts were projecting. McDonald’s issued a warning last month that sales will disappoint. Among individual stocks, LinkedIn advanced after the social-networking site released earnings results that were far ahead of market expectations and announced revenue guidance for the current quarter, which was ahead of what analysts were projecting. Activision Blizzard jumped after the videogame developer bested analysts’ earnings and revenue projections and announced guidance for the present quarter, which surprised on the upside. Moody’s bested earnings projections and issued strong earnings guidence for 2013. Shares of the ratings company, however, slipped, finishing among the worst-performing S&P 500 stocks for the day as market participants worried over a federal fraud lawsuit. Up till now, almost 60% of S&P 500 companies have announced results for the fourth quarter of 2012, with 70% of them besting earnings expectations and 66% posting better-than-expected revenues.

Most Asian markets finished the Monday session in negative territory, providing traders of binary put options with decent opportunities for making money. The trading volumes remained relatively thin as a lot of the markets in the region are closed for the celebration of the Lunar New Year holidays. Australian stocks moved in and out of positive territory, trading near a 34­ month closing high, which they posted on Friday. Major mining companies lost ground as metal prices moved lower. BHP Billiton and Rio Tinto lost 0.5% each, but trading volumes were slim as traders across Asia preferred to stay on the sidelines, celebrating the Chinese New Year. The earnings season in the region starts today, with results for the first half scheduled to be released from Commonwealth Bank, CSL and Rio Tinto. The Australian blue-chip S&P/ASX 200 index slipped 0.1%. The benchmark finished 1% higher in the previous week. In New Zealand the NZX 50 index dipped 5.2 points to trade at 4,220.5. The exchange operator ASX advanced as the Australian government postponed a decision to open the country’s equities clearing facility to competition for two years. The shares of the company rose 0.5% to A$36.14 on the news. The BSE index slipped 0.1%, while the broader NSE index declined 0.1%, with bank companies among the worst performers. Markets in Japan, South Korea, China, Hong Kong, Singapore and Malaysia remained closed for a public celebration.

European stocks were mixed on Monday, as market participants are waiting for the results of the European finance ministers, which is scheduled to be held later today. In Europe, the horse meat scandal is still in the news with consumers requesting tighter regulation for meat products. Findus Nordic announced on Sunday that it will sue French firm Comigel and its suppliers after horsemeat was found in its beef lasagne meals. The scandal originated in Britain and Ireland, but quickly spread to France and could affect consumer confidence in the food industry. On Saturday, the French and British governments said they will take legal actions against the companies responsible for selling horsemeat. In Spain, support for the governing People’s Party (PP) dropped to the lowest level in 20 years as the government corruption scandal is still discussed and the economy is still in recession. Spanish Prime Minister Mariano Rajoy announced his earnings and tax records from the previous 10 years on Saturday in an effort to appease market participants, although members of the opposition say that many questions are still up for discussion. Today European finance minister will probably discuss the state of the global monetary system and potential global currency wars at their meeting. French policy makers announced that they will raise the issue of the appreciating euro at the meeting, and on Friday when the G20 finance ministers meet in Russia. European Central Bank (ECB) executive board member Joerg Asmussen said that French economic problems do not stem from the exchange rate of the euro but are a result of the country’s economic weakness. In earnings news, French cosmetics giant L’Oreal releases results for the previous fiscal year

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

Daily Market Review 06/02/2013

We begin today’s review with a look at the Asian Market. Most Asian exchanges are trading in the green  today, providing traders of binary call options with good opportunities to make a profit. The main culprit behind this positive movement is the yesterday’s announcement of the OJ governor that he will exit early, almost 3 weeks before his term, helping the prime minister’s plan for aggressive easing. This news from the Bank of Japan was taken as optimistic by investors, and as a result, the broader MSCI Asia Pacific Index managed to add some points to its value. At the beginning of the Asian trading session, the index was trading 1.4% higher at 133.36 points, but didn’t manage to finish in the green, ending 1.55% lower at 131.59 points. The Japanese key benchmark NIKKEI 225 reached 11,515.00 points today, the highest level since September 2008, after the world’s largest car maker Toyota Motor Corporation increased its profit forecasting to hit a five-year high. As a result of this, the company’s shares gained 6.06% to 4 815 yen per share, and this helped the NIKKEI 225 to close 3.77% higher. The fifth-largest gaming company by revenue in the world – KONAMI – also helped the NIKKEI 225 to increase its value, as the company’s shares finished 3% above the open price at 1 920 yen per share. Honda Motor Corporation and Mitsubishi finished 3.32% higher at 3 580 yen and 2.50% up at 533 yen per share respectively. The broader TOPIX 500 also followed the same positive movement, finishing at 756.34 points, which is 3.25% higher than its open price. South Korea’s key benchmark KOSPI opened 0.8% higher over speculation that the yen’s continued weakness will spark South Korea’s central bank to intervene in the currency market, thereby weakening the won and protecting the country’s exporters. The capitalization-weighted index of all common shares on the Korean Stock Exchanges lost 1.99 of its points during the trading session, finishing 0.10 % lower at 1 936.19 points. Meanwhile, in Australia, the local S&P/ASX 200 climbed 0.78% to 4 920.95 points, independently of decreased retail sales data out of the country, which fell for a third consecutive month in December. The gauge is very important for traders of Forex, because it measures the change in the total value of inflation-adjusted sales at the retail level. The actual results were posted as minus 0.2%, disappointing investors, who expected this number to be 0.3%. On the FOREX market USD/JPY is trading at an almost three-year-high after the news around BOJ governor was announced. Today the currency pair USD/JPY continues its upward movement, and is currently trading at 93.81 yen for each US dollar. Against the single currency, the yen slightly depreciated by 0.05 percent, and now the currency pair EURJPY is available for trading at 127.24. Against the Canadian and Australian dollar, the yen is mixed with CAD/JPY rising 0.03% to 94.082 and AUD/JPY dipping 0.30% to 96.994 respectively.

The value of Forex on European stocks climbed today, in spite of the fact that the European crisis is expected to deepen. The German and French key benchmarks DAX Index and CAC Index increased in value by 0.35% to 7 664.66 points and 0.95% to 3 694.70 points respectively, as French president Francois Holland and German Chancellor Angela Merkel are set to meet in Paris today. Some of the biggest winners in the DAX Index are Allianz and Deutsche Bank, whose shares climbed 1.71% to 104.26 euros and 1.44% to 37.77 euros respectively. Among the French assets, some of the biggest winners are L’Oreal and Vivendi. The companies’ shares gained 2.21% to 110.60 euros and 1.52% to 15.71 euros per share respectively. Today investors vigorously await the announcement of further economic data from Germany. German Factory Orders will be published later today, which is an important indicator for traders of Forex, because it measures the change in the total value of new purchase orders placed with manufacturers for both durable and non-durable goods. The forecast is for 0.9%, considering minus 1.8% for the previous period. The results will come at 11:00 Greenwich Mean Time. In the UK, the Halifax House Price Index, which was posted at minus 0.2%, helped the UK’s key benchmark FTSE 100 Index decrease in value by 0.05%. Currently, the value of the Forex on the index is available for trading at 6 279.91. On the FOREX market the euro is mixed against its major counterparts. Against the greenback, the 17-nation currency is slightly down by 0.32%, trading at 1.3540. Against the Canadian and the Australian dollars, the euro is down by 0.29% to 1.3483 and slightly up by 0.40% to 1.3126 respectively, and against the Japanese yen, the single currency is down by 0.24%, and currently the EUR/JPY is available for trading at 126.88 yen for each euro.

During yesterday’s trading session in the United States, the US markets closed on the positive side, after better-than-expected earnings reports and positive economic data out of the country. US key benchmark Dow Jones Industrial Average finished 0.71% higher at 13 979.30 points. This level is very close to the psychological 14 000 points, so the trading there should be conducted with greater attention. Some of the biggest winners in the index were the Bank of America Corporation and Coca-Cola Corporation, whose shares finished 3.48% higher at $11.88 and 2.12% higher at $38.14 respectively. The biggest loser in the index was the largest computer-services provider – International _usiness Machines _orporation. The company’s shares dropped 0.49%, finishing at $202.79. The broader S&P 500 Index increased 1.04%, finishing at 1 511.29 points, breaking the psychological 1 500 level without any difficulty. Generally, the index increased its value by 12.42 percent for one year. The tech-heavy NASDAQ Composite also followed the same positive trend as its counterparts, finishing 1.29% higher at 3 171.58 points. Apple Inc. gained 3.51% to $457.84 per share yesterday. Google Inc. continued its rally yesterday, finishing 0.89% higher to $765.74 per share. Facebook gained 1.89% to $28.64 per share. On the FOREX market the greenback is mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD rising 0.08% higher to 0.9964, AUD/USD decreasing 0.51% to 1.0337 and NZD/USD slipping 0.24% to 0.8433 US dollars for each New Zealand dollar. Today, the investors in Forex are expecting the results about the Crude Oil Inventories and Gasoline Inventories. Both of the announcements are expected to come at 10:30 local time.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument. 

Daily Market Review US Opening 05/02/2013

Asian Markets finished in the red today, as concerns over investors regarding Europe’s debt crisis deepened. The Japanese key benchmark Nikkei 225 slumped 1.90% today, paring all its gains from the beginning of the week, when the Forex on the index reached 11286 points, which is the highest level in more than 32 months. The biggest loser in the index was cable producer Fujikura Ltd., which fell 7.3 percent. Hitachi Ltd. also helped the index to finish in the red, as the company’s shares sagged more than 6.35 percent, finishing at 531 yen per share, after the company cuts its forecasts. Sony Corporation slid by 0.69 percent, finishing at 1 447 yen per share. The boarder TOPIX 500 also followed the same downward movement as its counterpart, finishing 1.71 percent down from yesterday at 732.56 points. The world’s largest car producer Toyota Motor Corporation finished 1.2 percent down at 4 540 yen per share before posting its earnings at the close. Its counterpart Honda Motor Corporation dropped 2.39 percent, finishing 85 yen down at 3 465 yen per share. Mitsubishi also followed suit, ending 1.89 percent down at 520 yen. On the FOREX market however, USD/JPY is trading at an almost three-year-high after the BOJ governor announced he will exit early, almost 3 weeks before his term. In September the pair traded at 78, and now it’s available for trading at 93.37 yen for each US dollar. Against the single currency, the yen has depreciated 1.55 percent, and now the currency pair EURJPY is available for trading at 126.86. Against the Canadian and Australian dollar, the yen lost 1.17% to 93.58 and 0.59% to 97.01 respectively.

The value of Forex on European stocks climbed today, despite signs that the European crisis will deepen. The region’s key benchmark Stoxx Europe 600 index increased its value to 285.22, despite the Retail Sales out of Europe, which were posted worse than expected. The gauge is very important for traders of Forex, because it measures the change in the total value of inflation-adjusted sales at the retail level. The actual results came in at minus 0.8%, disappointing investors in Forex, who expected this number to be minus 0.5 percent. Generally, the Stoxx Europe 600 index has climbed 2.4 percent since the beginning of the year. Germany posted data about the German Services PMI today, which measures the activity level of purchasing managers in the services sector. The actual data was posted as being 55.7, beating the estimates of 55.3. This helped the country’s key benchmark DAX index to add 0.37 percent to its value to 7 666.54. Some of the highest performers in the index were Deutsche Bank and Allianz, as the company’s shares finished 1.78% up, at 37.765 and 1.85% higher than 103.95 euro respectively. On the other hand, one of the biggest car makers in Germany – Bayerische Motoren Werke, also known as BMW, finished 0.12% lower at 71.86 euro per each share. The French CAC 40  index managed to finish 0.95 percent higher at 3 694.70 points, as the country’s president Francois Hollande called for leaders to steer the currency’s exchange rate. On the island, the Services Purchasing Manager’s Index, whic posted better than expected results, helped the UK broad FTSE 100 to add some points to its value, and the index finished 0.58% higher at 6 282.76 points. On the FOREX market the euro gained against its major counterparts. Against the greenback, the 17-nation

US market opened higher today, as corporate earnings exceeded analyst estimates. The country’s key benchmark Dow Jones Industrial Average is gaining 0.80% to 13 991.51 points so far. The S&P 500 continues its rally, gaining 0.86%, as a result of better than expected earnings results from companies in the index. Generally, the Standard and Poor’s index is only 3.6 percent below its record of 1 565.15, reached in October 2007, as US lawmakers reached an agreement on a budget. Today, the investors in Forex are expecting the earnings results for Disney Corporation, which is in the S&P 500. The technological NASDAQ Composite also follows the same negative trend as its counterparts, climbing 1.03%. The index is currently trading at 3 161.02 points. Apple Inc. gained 2.01% to $451.01 per share. Google Inc. continues its rally, climbing 1.16% today to $767.84 per share. Facebook gains 2.07 % to $28.68 per each share. On the FOREX market the greenback is mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD falling 0.12% lower to 0.9976, AUD/USD decreasing 0.48% to 1.0388 and NZD/USD rising 0.11% to 0.8441 US dollars for each New Zealand dollar.

Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.