Equities followed the now familiar pattern of 2012: a more cautious close following earlier gains. Nevertheless US, Euro area and UK bourses looked like closing another week in positive territory, a further testimony to the wider improvement in risk sentiment this year. Unless the last days of the month see
The Fed statement was surprisingly dovish in light of recent encouraging US data. We now do not expect Fed to hike the fed funds rate until mid-2014.
In the euro area better-than-expected PMIs suggest that the recession will be relatively mild.
Japan’s trade balance showed a deficit for 2011 as a whole
While growth disappointed in Q4 we still see scope for growth in the area of 2.5% in 2012. Consumption growth is underpinned by decent income growth as employment is picking up and inflation has come down. And exports are likely to recover as export markets are recovering slowly. Corporate investment
Often you may hear about ‘month end’ flows having a positive or negative effect on a currency during the last few days of the month. Thus, I’ve decided to take a look at asset market capitalizations in the major market economies to help us try to determine which direction these
Today’s US GDP data was interesting in that it came in weaker than expected and breaking down the report we see that personal consumption was pretty soft and much of the gain in the fourth quarter came from the restocking of inventories.
Therefore with a soft GDP report the usual response
The GBP/USD has been resilient, but the bull run since 1/27 Asian-European session could not clear the 1/26 high at 1.5733. After the US stock market opened at 9:30 AM EST, the GBP/USD started to turn around, and in the following hour candle is falling back toward the previous session’s
USDJPY: The pair is now on a second day of sell off following its failure to continue its recovery strength started from the 76.54 level. It looks like USDJPY could be building up downside momentum with the possibility of returning to the mentioned support at 76.54 level, its Jan 17’2012
Sustained growth either boom nor bust remains the theme for this economy and has been our outlook now for some time. Real GDP rose at a 2.8 percent pace in the fourth quarter and is up 1.6 percent from a year ago. The gains in the fourth quarter
Asset markets backed off the bid again today after a lacklustre US GDP report particularly given the high expectations. The market will quickly forget about this one as the EU summit lies dead ahead, however.
US GDP came in at a weaker than expected 2.8%, particularly weak given that the
Having walked across to the other side of the room and picked up my dummy (spat yesterday) I’ll attempt to calmly relate to you how I see the market now.
Now it won’t be anything to do with levels, directions and/or strategies, more about mental health and stamina, if you will.
The 4H USD/CAD continues it’s decline below triangle support and below a support area around 1.0070. In the 1/27 Asian-European session, it is confirming the bearish outlook after a brief pullback in the previous US Session. The RSI shows persistent bearish momentum since breaking below the triangle, as the reading
The European sovereign debt market continues to show stabilization as successful auctions give the EUR a lift.
From Financial Times: “Italy sold its full target of €11bn of short-term treasury bills at sharply lower yields, underscoring the marked improvement in investor sentiment towards the world’s third-largest bond market, and nurturing hopes
The advance estimate of US fourth-quarter 2011 GDP growth was 2.8%, which was up from 1.8% and 1.3% increases in the third and second quarters, respectively, although slightly below market expectations for a 3.0% increase. The main contributor to the acceleration in growth in the fourth quarter of 2011 was
The corrective decline yesterday did not last long as the market found support in the 1/27 Asian session at the 1.3075-1.3080 pivot area seen more clearly in the 4H chart. The 1H chart shows that this was between 38.2%
Cable has risen above 1.5700. However, it is not gaining upside momentum to extend its upmove strongly above 1.5700. The Resistance in 1.5710-25 region mentioned in our Morning comments is holding well. Failure to rise past 1.5725 will keep up the chances of testing 1.5600 or even 1.5500 on the
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