|
|
| 19.06 19:52 |
Gold steadied on Friday as the dollar index reversed earlier losses,
but trading was muted as the U.S. currency remained hemmed into ranges ahead of a Federal Reserve meeting next week. Spot gold was bid at $932.90 an ounce at 14:20 GMT, against $932.35 an ounce late in New York on Thursday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange eased 70 cents to $933.90 an ounce.
Prices awaited new direction from the currency markets, currently the
main driver of gold. Gold becomes cheaper for holders of other
currencies as the U.S. dollar slips. "If you are looking at the ups and
downs of gold in its narrow trading range, it is more or less a
reflection of the swings in the euro/dollar exchange rate," said Peter Fertig, a consultant at Quantitative Commodity Research in Germany.
|
| 19.06 19:32 |
The Dollar is falling across the board during Friday.
In the last hour Greenback was able to recover part of the losses.
EUR/USD fell to 1.3960 after reaching an intra-day high at 1.4012.
Currently the price is 1.3975/80 which is 0.50% above today opening
price. On the upside, resistance lies at 1.4015 (intra-day high) and
1.4060. Support could be found at 1.3950 and 1.3880. During the
American session EUR/USD has risen more than 80 pips.
|
| 19.06 19:06 |
Hot stocks:
CarMax Inc The biggest U.S. used-car dealer
posted first-quarter earnings excluding some items of 11 cents a share,
more than triple the average analyst estimate.
Research in Motion Limited The
BlackBerry maker’s earnings for the first quarter ended May 30 rose 33%
to $643M, or $1.12 a share, compared to earnings of $482.5M, or 84
cents a share, in the same period in the prior fiscal year, on strong
sales of the company's line of BlackBerry smartphones.
Smith & Wesson Holdings Corp The 157-year-old gunmaker agreed to buy privately held Universal Safety Response Inc. and reported a $200M order backlog.
Sealy Corp The
world’s largest bedding manufacturer said in a preliminary statement
that second-quarter sales were as much as $301M, well exceeding
analysts’ expectations.
|
| 19.06 18:38 |
Dow -26.60 at 8529.00, Nasdaq +16.32 at 1824.04, S&P +1.00 at 919.37 |
| 19.06 18:37 |
American focus:
The dollar declined against most of its major counterparts as speculation the global recession is easing prompted investors to buy higher-yielding assets. Sterling rose
for the first time in three days versus the dollar after Bank of
England Governor Mervyn King said policy makers are seeing evidence
that the U.K.’s economic contraction is beginning “to flatten off.” The
dollar extended its drop versus the euro and yen as Moody’s Investors
Service said it may cut California’s credit rating. “The market is
listless,” said Lane Newman, director of currency trading at ING Financial Markets LLC
in New York. “In absence of any real news, that is enough to get the
market to sell the dollar,” he added, referring to California. EUR/USD has
risen around 130 pips to climbs above 1.4000 and post the 1.4012 as new
1-week high. The pair is trading around 1.3980/90 right now, 0.55%
above today's opening price action. Cable has risen around 170
pips in the last hour from 1.6390 to post 1.6561 as new 1-week high.
The pair has been fueled by the Dollar sell of in the European closing
bell on options expires. Currently the pair is posting a 1.05% daily
gains from opening price to the current 1.6525/35. The Dollar
sell of in the American session has driven the USD/JPY to levels close
to 96.00, the pair has fallen around 75 pips in the last hour. On the
day, the pair is falling 0.70% from opening price to the current
96.00/10.
|
| 19.06 17:51 |
Dow -10.73 at 8544.87, Nasdaq +15.90 at 1823.62, S&P +1.13 at 919.50 |
| 19.06 17:40 |
There have been recent signs that the pace of decline in the economy is levelling off but it is too soon to draw strong conclusions from that, Bank of England Governor Mervyn King was quoted as saying on Friday.
In an interview published on the Southern Daily Echo newspaper's website, King was
quoted as saying: "We are seeing now some signs that the rate at which
outlook was falling is beginning to flatten off but I don't think
anyone should draw strong conclusions." The newspaper said he went on
to note that confidence had dropped markedly as the economy had fallen
into recession. "You can't regain it quickly, so it's bound to take a
lot longer to recover than it was to fall into recession, which was a
very sharp fall in activity over the last six months," he was quoted as
saying. "I don't think it would be sensible to expect activity to pick
(up) as quickly." King's comments in the regional newspaper are
in line with the cautious tone on the economy he employed in a major
speech he made on Wednesday.
|
| 19.06 17:26 |
Oil topped $72 a barrel on Friday,
gaining for a third day, supported by views on equity markets that the economy may be stabilising and
due to geopolitical concerns over key oil producers Iran and Nigeria.
Support came from disruptions to supply from Africa's top oil exporter
Nigeria and political turmoil in Iran, the world's fourth largest
producer, after its presidential election. "We will see support
continue to come from Iran and Nigeria. There is no immediate supply
threat from Iran but in Nigeria (there) is an actual physical
disruption," oil analyst Olivier Jakob of Petromatrix said. Oil majors such as Royal Dutch Shell and Chevron have been targeted by militant sabotage attacks in Nigeria and their oil output has been dented. U.S. crude rose 71 cents to $72.08 a barrel . London Brent crude gained 68 cents to $71.74.
|
| 19.06 16:50 |
Stocks surged Friday, gaining for the second session in a row, as investors sought to restart the stalled-out rally amid revived optimism that the economy is closer to stabilizing.
Blue chips posted
slim gains Thursday after better-than-expected reports on the labor
market and manufacturing helped counter a recent batch of mixed
economic news. That revived optimism remained in play Friday.
Dow
S&P500
Nasdaq
Trading
Friday was likely to be influenced by the quadruple options expiration,
a quarterly event in which stock index futures and options and
individual stock futures and options all expire at the same time.
After
surging more than 40% in three months, stocks have been meandering for
the last week as investors worried that the rally may have outpaced any
signs of recovery.
The three major gauges are on track to all close lower this week for the first time in five weeks.
The jobless rate rose in nearly every state in the nation in May, the government reported.
Apple's iPhone 3G
S went on sale Friday, and was expected to sell as many as 500,000
copies this weekend, according to a Piper Jaffray analyst. The third
generation of the iPhone features a better camera that includes video
capturing and editing capabilities, a longer-lasting battery,
voice-command control and a built-in digital compass.
The
16-gigabyte version costs $199 with a new contract with AT&T and
the 32-gigabyte version costs $299 with a new activation. Apple will
also still sell an 8-gigabyte version for $99.
Apple shares gained 2% Friday morning.
Stock gains were pretty broad-based, with 21 out of 30 Dow components rising, led by Boeing (BA), 3M (MMM), McDonald's (MCD), Johnson & Johnson (JNJ) and Hewlett-Packard (HPQ).
In addition to Apple and Hewlett-Packard, other tech gainers included Intel (INTC), Dell (DELL), Cisco Systems (CSCO) and Microsoft (MSFT).
Late Thursday, Research in Motion
(RIMM) reported higher quarterly earnings that topped estimates and
higher revenue that missed estimates. The BlackBerry maker also
forecast current-quarter earnings that are above forecasts and sales at
the low end of forecasts. Shares fell 1.5% Friday.
U.S. light crude oil for July delivery rose 49 cents to $71.86 a barrel on the New York Mercantile Exchange.
COMEX gold for August delivery rose $2.20 to $936.80 an ounce.
|
| 19.06 16:28 |
European equity bourses are set to close higher Friday, although down between 4 to 5% on the week.
Wednesday saw the lowest dip of the week, with the FTSE-100 touching
4239.74, the CAC-40 3136.91, and the Xetra-DAX 4761.20. The markets
have seem some strength coming from the options market today, ahead of
Liffe stock options, stock index options and stock index futures
expiration. Oil stocks have given back some strength this afternoon's
crude prices fell, although BP (BP) is still leading gains. Mining
stocks have also slipped a little, still firm in London, with Xstrata
(XTA) offering most support. On the other side, automakers have
remained weak in Frankfurt, where Volkswagen (VOW) leads losses, and
Daimler (DAI) is down -2.3%, suffering after S&P downgraded their
long-term credit rating to 'BBB+'. BT (BT.A) is has also underperformed
following the news this morning that they will be contracting out some
of their employees in order to avoid compulsory job losses.
The FTSE-100 is currently up 66pts (+1.5%), CAC-40 up 21pts (+0.7%), and Xetra-DAX up 9pts (+0.2%).
|
| 19.06 16:10 |
GBP/USD got support at $1.6380
Corrective pullback eases through reported support at $1.6400/1.6390
but meets fresh demand ahead of $1.6380 which allows rate to climb back
above the figure. Bids remain ahead of $1.6380 ahead of $1.6350/40
ahead of $1.6305/00.
|
| 19.06 15:56 |
Dow +34.01 at 8589.61, Nasdaq +24.12 at 1831.84, S&P +5.43 at 923.80
The
major equity averages have pared a portion of their early gains.
Telecom (-0.3%) and utilties (-0.1%) are now in negative territory,
while energy stocks dance along the unchanged mark after trading with a
0.8% gain at their session high. The downward move among energy
stocks comes as crude oil prices pull back. Crude prices had been up
nearly 1% in early pit trading but are now up a more modest 0.3% at
$71.60 per barrel. Meanwhile, natural gas prices are also up modestly. Contracts were recently quoted at $4.11 each, up 0.4%. In
other commodities trading, gold prices are up a healthy 0.3% to $936.50
per ounce. Silver is up fractionally to $14.25 per ounce.
|
| 19.06 15:41 |
US: May BLS state employment data show overall payrolls -356k vs -345k in the May national payrolls total. |
| 19.06 15:33 |
DB: "it is premature to start calling the end of the current recession..."
DB economist Joe LaVorgna says "it is premature to start calling the
end of the current recession, in fact we do not expect this to occur
until H1 2010. Nevertheless, there are preliminary signs that the
economic deterioration is slowing significantly- such as the recent
performance of the index of leading indicators (+1.2% in May vs. +1.1%
in April). When the economy exits recession, the largest positive
factors for growth are typically consumer spending, inventory
restocking and residential construction."
|
| 19.06 15:14 |
Dow +50.94 at 8606.47, Nasdaq +24.40 at 1832.14, S&P +8.17 at 926.38
Stocks are putting together some solid gains in an impressive start,
which has nine of the 10 major sectors in the S&P 500 trading
higher. The advance is the strongest in the health care sector, which is up 1.4% as it outperforms the broader market for the fourth straight session.
Conversely,
utilities stocks are lagging. They are down fractionally and make up
the only major sector to trade with a loss. The downturn among utilities comes after they logged an impressive gain in the previous session. Duke Energy (DUK 14.58, -0.06) and Southern (SO 30.93, -0.16) are among the sector's primary laggards.
|
| 19.06 14:46 |
European equity bourses are heading into the Wall St open higher Friday, consolidating gains near session highs.
Traders have reported some strength coming from the options market, as
Liffe stock options, stock index options and stock index futures expire
today. Oil and energy stocks are still holding firm amid building
strength in the crude market, with E.ON AG (EOAN), Total SA (FP) and BP
(BP.) offering most support. The mining sector has strengthened through
midday, buoyed by gains in the metals markets, with BHP Billiton (BLT),
Anglo American (AAL) and Xstrata (XTA) outperforming. On the other
side, automakers are still weaker in Frankfurt, where Volkswagen (VOW)
is down around -4.5%, and Daimler (DAI) is down -1.6%, suffering after
S&P downgraded their long-term credit rating to 'BBB+'. BT (BT.A)
has lost a little ground again, following the news this morning that
they will be contracting out some of their employees in order to avoid
compulsory job losses.
The FTSE-100 is up 82pts (+1.9%), CAC-40 up 46pts (+1.4%), and Xetra-DAX up 26pts (+0.6%).
|
| 19.06 14:21 |
Before the bell: U.S. stocks were expected to open higher Friday, supported by encouraging signs in the job market and rising commodity prices.
The price of oil rose 88 cents a barrel to $72.25.
A weekly report on jobless claims
released Thursday showed the number of Americans filing continuing
claims slumped for the first time since the start of the year.
Companies:
BlackBerry maker Research in Motion (RIMM) posted a rise in quarterly
profit and sales late Thursday. But the company issued a disappointing
sales outlook.
Apple's (AAPL) new iPhone goes on sale
Friday. A Piper Jaffray research analyst estimates that Apple will sell
half a million units of the new iPhone this weekend.
Stocks in Asia finished mostly higher. In midday trading, major European markets were modestly higher
|
| 19.06 14:06 |
Commerzbank on Fed policy
Economists at Commerzbank say "The econ situation is still
much too fragile for swift rate hikes" and normally Fed waits until
unemployment rate falls before hiking. "However, the huge extent of
unconventional measures probably requires Fed to initiate its exit
strategy earlier" - they call for rate hikes in Fall 2010.
|
| 19.06 13:40 |
Fed's Hoenig: Fed risks inflation outbreak if liquidity is not withdrawn timely and quickly. |
| 19.06 13:32 |
CANADA: April retail sales -0.8% vs +0.3% in March
- April retail sales ex-autos -0.5% vs -0.3% in March
|
| 19.06 13:25 |
GBP/USD keeps positive mood
Cable retains a firm tone, holding just
off recovery highs at $1.6450 (61.8%
$1.6622/1.6187). Offers seen placed from
this level through to $1.6470, a break above to open a move toward $1.6500 ahead of
stronger area toward $1.6520 (76.4% ). Support seen back at $1.6380/70.
|
| 19.06 13:12 |
European session review: Yen declines Friday
Data released 06:00 Germany PPI (May) 0.0% 0.0% -1.4% 06:00 Germany PPI (May) Y/Y -3.6% -3.6% -2.7%
The yen declined as
rising stocks spurred investors to seek returns in higher-yielding
assets, reducing demand for the Japanese currency as a haven. The
yen fell the most against the Australian dollar and South African rand
and pared its first weekly advance against the euro in more than a
month, after European Union leaders said they saw the first signs of a
“sustainable economic recovery”. The yen fell for a third day against the euro after
the Federal Reserve Bank of Philadelphia said yesterday its general
economic index climbed to minus 2.2 from minus 22.6 in May. The
World Bank yesterday raised its growth forecast for China this year,
saying the economy will expand 7.2% in 2009 from a year earlier, up
from a 6.5% forecast in March. The yen still headed for weekly
gains versus the dollar and the euro after U.S. reports earlier this
week showed confidence among homebuilders fell unexpectedly and
industrial production dropped for a seventh month, raising concerns any
recovery by the world’s largest economy will take time. The British pound snapped two days of declines versus the dollar after Bank of England Governor Mervyn King said the U.K. recession may be easing.
EUR/USD
opened around $1.3916. Reported demand placed between $1.3885/80
contained the move around $1.3882. Rate recovered back above $1.3900,
with move up aided by strong demand for cable. Rate again met decent
resistance at $1.3920 on the recovery but remained above $1.3900 ahead
of the NY open.
GBP/USD opened at $1.6346. Cable met strong demand
again in the $1.6330/20 area with recovery this time able to ascend
$1.6400. Cable extended move to $1.6450 with underlying tone remaining
firm ahead of NY.
USD/JPY opened around Y96.65. Rate break above Y97.00 to print highs around Y97.18.
At 12:30 GMT Canadian retail sales data will be released.
|
| 19.06 12:52 |
OPTIONS: Expiries of note for today's 1400GMT cut,
EUR/USD $1.4000, $1.3800 USD/JPY Y96.75, Y96.25, Y95.00, Y98.20, Y98.50 AUD/USD C$0.8925 AUD/NZD NZ$1.25 USD/CAD C$1.1350, C$1.1400, C$1.1200
|
| 19.06 12:37 |
Credit Suisse sees no rate rise this year
Credit Suisse sees small upward revisions to their global growth and inflation ests as the recession comes to an end but does not expect the major central banks to raise interest rates until next year.
|
| 19.06 12:23 |
European focus: Swiss franc pressured by intervention talk
The Swiss franc remained on the back foot on Friday following speculation that the Swiss National Bank had intervened to stem the currency’s strength. Although
there was no official confirmation, many investors believed the Bank
for International Settlements intervened on the SNB’s behalf on
Thursday after the Swiss franc hit a three-month high against the euro
and threatened to break through SFr1.50 against the single currency for
the first time since March. In March the SNB intervened aggressively to sell the Swiss franc in an attempt to stop currency appreciation hampering the domestic economy. While
the SNB has said it does not have a specific intervention level in
mind, many investors believe SFr1.50 against the euro is the central
bank’s “line in the sand”. Meanwhile, the yen came under pressure on Friday as improving risk appetite damped haven demand for the low-yielding Japanese currency. Investor
optimism was boosted on Thursday by a better than expected Philadelphia
Fed survey of manufacturing in the US Mid-Atlantic, as well as figures
showing weekly US continuing jobless claims fell for the first time
since January.
|
| 19.06 11:59 |
Techs on USD/JPY:
Resistance 3: Y99.80 Resistance 2: Y98.50 Resistance 1: Y97.30 Current price: Y96.84 Support 1: Y95.40 Support 2: Y94.40 Support 3: Y93.80 COMMENTS: Rate looks optimistic with resistance comes at Y97.30, then – on Y98.50 and Y99.80 (May 07 high). Strong support is near Jun 17 lows at Y95.40. Below – on Y94.40. Stronger level is near May 22 lows on Y93.80.
|
| 19.06 11:37 |
Techs on USD/CHF:
Resistance 3:Chf1.1050 Resistance 2:Chf1.0950 Resistance 1:Chf1.0880 Current price: Chf 1.0858 Support 1:Chf1.0760 Support 2:Chf1.0650 Support 3:Chf1.0600 СOMMENTS: Dollar tested channel resistance line from Apr 22 on Chf1.0880 and retreated. Above the target comes at Chf1.0950/30 and Chf1.1050 (May 21 high). Support is near yesterday’s low on Chf1.0760, stronger – on Chf1.0650 (Jun 11 low). Then the rate may decline to Chf1.0590/00 (Jun 02 low).
|
| 19.06 11:20 |
Techs on GBP/USD:
Resistance 3:$1.6640 Resistance 2:$1.6580 Resistance 1: $1.6500 Current price: $1.6435 Support 1: $1.6200 Support 2: $1.6120 Support 3: $1.5960 COMMENTS: The sterling rises. Resistance comes at June 16 high on $1.6500. Above there is a room for rising up to $1.6580 and then - to $1.6640 (June 03 high). Support – yesterday’s low on$1.6200. Below losses may widen to $1.6120 and further to $1.5960 (23,6% FIBO of $1.3650-$ 1.6660 growth).
|
| 19.06 10:57 |
Techs on EUR/USD:
Resistance 3:$1.4300 Resistance 2:$1.4180 Resistance 1:$1.4000 Current price: $1.3914 Support 1: $1.3860 Support 2: $1.3720 Support 3: $1.3610 COMMENTS: Euro tries to recover. Resistance comes at yesterday’s highs on $1.4000 with a break above will target $1.4180 (peak of June 11). Above resistance is around $1.4330 (six-month high). The nearest support is $1.3860 (session lows). Below correction may reach $1.3720 (area of May 13 high and May 21 low) and 50,0% FIBO of $1,2880-$ 1,4330 growth on $1.3610.
|
| 19.06 10:30 |
EUR/GBP decline supports cable
EUR/GBP breaks below its Asian base at stg0.8494 and pushes down to stg0.8468, the move allowing cable to rally back above $1.6400 to $1.6432. Euro-sterling support seen at stg0.8465/60 ahead of stg0.8445/40. For cable, resistance now seen placed between $1.6425/35 ahead of $1.6470.
|
| 19.06 10:15 |
BOE: Bought stg263mln commercial paper in week to June 18 |
| 19.06 09:56 |
USD/JPY holds higher
USD/JPY breaks above Y97.00 and moves up to Y97.12. Earlier reports placed offers to Y97.30 with recent comments noting stops above, with stops interest extending toward Y97.50.
|
| 19.06 09:36 |
EUR/USD gets down
EUR/USD slowly squeezing lower, moves to begin challenge on support in the area between $1.3910/00. One trader earlier suggested that a break under $1.3910 could provide an early signal for a deeper move toward $1.3850/40 area. Below $1.3900 to allow for an initial move toward $1.3885/80.
|
| 19.06 09:24 |
HONG KONG STOCKS: Hang Seng Index ends up 0.81% at 17,920.93 points on Friday. |
| 19.06 09:03 |
Asian session:
The euro rose the most in two weeks against
the yen after European Union leaders said the 16-nation region is on
course for a “sustainable economic recovery.” Europe’s currency
also gained against the dollar after the leaders also said “further
budgetary stimulus would not be warranted,” in the draft of a statement
to be approved today, signaling the recession is easing. The yen
fell for a third day against the euro after the Federal Reserve Bank of
Philadelphia said yesterday its general economic index climbed to minus
2.2 from minus 22.6 in May. The Conference Board’s index of U.S.
leading economic indicators rose more than forecast in May for the
second month. The yen still headed for weekly gains versus the
dollar and the euro after U.S. reports earlier this week showed
confidence among homebuilders fell unexpectedly and industrial
production dropped for a seventh month, raising concerns any recovery
by the world’s largest economy will take time. The euro also
strengthened against the dollar and yen on speculation European Central
Bank officials speaking today will signal they intend to keep interest
rates on hold amid signs the global slump is waning. ECB members
including Mario Draghi and Lorenzo Bini Smaghi speak today. The central
bank kept its benchmark rate at a record low of 1 percent on June 4.
President Jean-Claude Trichet said at a press conference the same day
that the ECB hadn’t decided it was the lowest that rates could go.
EUR/USD the rate remained supported therefore the session high in the field of $1,3950 established

GBP/USD the pair remained within the limits of $1,6300-$ 1,6380
USD/JPY the rate continued yesterday's growth having reached area Y97,00
Today at 12:30 GMT will be published data on retail sales in Canada.
|
| 19.06 08:47 |
FTSE +15.28 (+0.36%) at 4,296.14, CAC +0.08 (0.00%) at 3,194.14,Dax -12.86 (-0.27%) at 4,824.62 |
| 19.06 08:31 |
Forex: Thursday results
The yen and the dollar fell against
a majority of their most-traded counterparts after reports showed U.S.
economic growth recovered, reducing the haven demand for the
currencies. The Federal Reserve Bank of Philadelphia’s general
economic index climbed to minus 2.2 from minus 22.6 in May, the slowest
pace in nine months. Negative numbers signal contraction. The
Conference Board’s index of U.S. leading economic indicators also rose
more than forecast in May for the second straight month, reinforcing
signs that the worst recession in five decades may end this year. The
gauge, which points to the direction of the economy over the next three
to six months, rose 1.2 percent after a revised 1.1 percent in April. The
Euro's spike against the Greenback on better than expected Philadelphia
Fed Business Index has found resistance at 1.4000 level and the pair
has been launched down to test the 1.3950 support (MA-200 level in
hourly chart). Currently the pair is trading around 1.3955/65, losing
its profit and going 0.10% below today's opening price. The Pound
has already retaken back more than half of the ground lost on the
European morning sell-off as rebound on 1.6210 intra-week low extended
to 1.6350 level on buoyant results of June's Philadelphia Fed Business
Index. USD/JPY has risen above the 96.00 level after the better than
expected Philadelphia Fed Business Index and the pair has posted 96.35
as fresh intra-day high. The pair has risen 60 pips in the last two
hours. Currently the pair is trading positive on the day after rising
0.30% so far today from opening price to the current 96.25/35.
EUR/USD the
pair was lead first half of yesterday's session within the limits of
$1,3900-$ 1,4000. Later the rate could show low in area $1,3870,
however returned back former range
 GBP/USD shown
high in the field of $1,6470 the pair sharply fallen, reached thus of a
mark $1,6187. By the end of session the rate was corrected in area
$1,6340 USD/JPY for yesterday's session the yen lost about 10 point against dollar Today at 12:30 GMT will be published data on retail sales in Canada.
|
| 19.06 08:16 |
OPTIONS: Expiries of note for today's 14:00GMT cut
EUR/USD $1.4000, $1.3800 USD/JPY Y96.75, Y96.25, Y95.00, Y98.20, Y98.50 AUD/USD C$0.8925 AUD/NZD NZ$1.25 USD/CAD C$1.1350, C$1.1400, C$1.1200
|
| 19.06 08:04 |
Orders
EUR/USD Bids $1.3910/00, $1.3885/80 Offers $1.3950
|
| 19.06 07:59 |
Stocks:Thursday results
Japanese stocks fell for the third time in four days as the
local currency strengthened to a two- week high, diminishing the
earnings prospects for makers of cars and electronics. Honda Motor Co.,
which gets more than half its sales in North America, extended its
losing streak to the longest in 10 months, while electronics maker Sony
Corp. declined 3.1 percent. Mitsubishi Corp., a trading company that
gets more than half its profit from commodities, slid 4.2 percent as
metals prices had the longest stretch of losses in a half year.
Mitsubishi Motors Corp. added 3.3 percent on a newspaper report it
plans to develop a cheaper electric vehicle. “Optimism that the yen
will weaken to beyond 100 is evaporating,” said Mitsushige Akino, who
oversees about $574 million at Ichiyoshi Investment Management Co. in
Tokyo. “The economy has clearly hit bottom, but that’s been priced in.”
Mitsubishi Motors advanced 3.3 percent to 187 yen. The automaker plans
to develop an electric vehicle priced at 3 million yen ($31,000) by
2012, cheaper than its current model, the Nikkei newspaper said today.
Meidensha Corp., which supplies parts for Mitsubishi Motors’ electric
cars, added 6.2 percent to 613 yen, extending yesterday’s 16 percent
surge. “Investors feel environment-related shares will stay solid
even if the market enters a downward trend,” said Ichiyoshi’s Akino.
“As people become more convinced this rally is coming to a close, they
are more eager to buy these shares.”
European stocks
rose, with the Dow Jones Stoxx 600 Index rebounding from its longest
stretch of losses since February, as U.S. reports on leading economic
indicators, manufacturing and jobless claims suggested the global
recession may be near a bottom. ING Groep NV jumped 8 percent as
Goldman Sachs Group Inc. recommended buying shares of the largest Dutch
financial- services company. HeidelbergCement AG surged 17 percent
after announcing a refinancing agreement. DSG International Plc,
Europe’s second-largest electronics goods retailer, slid 6.3 percent as
U.K. retail sales unexpectedly declined. “The better-than-expected
leading indicators are a relief that not everything is as bad after
data over the last few days and weeks has been mixed,” said Gregor
Mast, an equity strategist at Clariden Leu in Zurich, which oversees
about $88 billion. “The data is pointing towards a stabilization.” European
stocks erased losses after the U.S. leading economic indicators index
climbed for a second straight month in May. The Conference Board’s
gauge of the economic outlook for the next three to six months advanced
1.2 percent after a revised 1.1 percent in April. The index was
forecast to rise 1 percent, according to a Bloomberg News survey of
economists.Another report today showed manufacturing in the
Philadelphia region contracted in June at the slowest pace in nine
months. The Federal Reserve Bank of Philadelphia said its general
economic gauge improved to minus 2.2 this month from minus 22.6 in May.
Negative readings indicate a contraction.In addition, the U.S. Labor
Department said the number of Americans receiving unemployment benefits
dropped for the first time since January, adding to evidence the job
market is starting to thaw.The World Bank said in a quarterly report
released today that China’s economy will expand 7.2 percent in 2009, up
from a 6.5 percent forecast in March. The World Bank joins Goldman
Sachs, Morgan Stanley and UBS AG in raising growth forecasts this year
after a 4 trillion yuan ($585 billion) stimulus package triggered
record loans and surging investment.
U.S. stocks
snapped a three-day losing streak as reports on jobless claims and
manufacturing added to evidence the recession may be near a bottom. Bank
of America Corp. and JPMorgan Chase & Co. climbed at least 4.4
percent as the total number of people collecting unemployment insurance
fell by the most in almost eight years. Alcoa Inc. and DuPont Co. added
more than 1.7 percent as gauges of leading economic indicators and
Philadelphia’s economy topped economists’ estimates. Discover Financial
Services rallied as the credit-card company’s loan losses grew less
than forecast. “The market has run out of fantastic reasons to
sell,” said Stephen Wood, who helps manage $136 billion as chief market
strategist for North America at Russell Investments in New York. “Those
Armageddon, Great Depression, worst-case scenarios being priced in a
few months ago are now a low probability, and the recovery reflects
that.”Stocks opened higher as the Labor Department said continuing
jobless claims decreased by 148,000 to 6.69 million, the first drop
since January, even after weekly initial claims increased 3,000 to
608,000. Gains accelerated after the Conference Board’s index of
leading economic indicators climbed 1.2 percent and a Federal Reserve
report showed Philadelphia- area manufacturing shrank at the slowest
pace in nine months. “The positive is that we’re not seeing the type
of deterioration in that jobless number that would show a greater
slowdown in the economy,” said Peter Kenny, a managing director in
institutional sales at Knight Equity Markets in Jersey City, New
Jersey. “It could have been much, much worse.” Treasury Secretary
Timothy Geithner defended the administration’s proposal to give the Fed
increased powers in his first public tussle with lawmakers skeptical
whether the central bank is up to the job. Obama’s plan calls for the
Fed to monitor the biggest, most interconnected banks, sets up a new
agency to oversee consumer financial products and brings hedge funds
and private equity firms under federal supervision for the first time. The dollar strengthened versus the euro. U.S. light crude oil for July delivery rose 17 cents to $71.20 a barrel on the New York Mercantile Exchange. COMEX gold for August delivery fell $1.40 to $934.60 an ounce.
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| 19.06 07:51 |
Japan Stocks
The Nikkei 225 Stock Average added 82.54, or 0.9 percent, to close at 9,786.26 in Tokyo. The broader Topix index rose 7.76, or 0.9 percent, to 918.97. Almost two stocks fell for each that advanced on the Topix
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| 19.06 07:34 |
Techs on USD/JPY:
Resistance 3: Y98.50 Resistance 2: Y97.30 Resistance 1: Y96.80 Current price: Y96.58 Support 1: Y95.40 Support 2: Y94.40 Support 3: Y93.80 COMMENTS:
The pair is consolidated after yesterday's growth. The nearest
resistance is on Y96.80 (38.2 % FIBO of Y98.70-Y95.50 falling. Above
the purpose of growth becomes Y97.30/40 (area MA(200) for H1 and June
16 high). Further is not excluded growth to Y98,50 (area of June 11 and
15 high). Strong support comes at yesterday’s lows on Y95.40. Below –
on Y94.40. Stronger level comes at May 22 lows near Y93.80.
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| 19.06 07:23 |
Techs on USD/CHF:
Resistance 3:Chf1.1150 Resistance 2:Chf1.1050 Resistance 1:Chf1.0950 Current price: Chf 1.0844 Support 1:Chf1.0760 Support 2:Chf1.0650 Support 3:Chf1.0600 СOMMENTS:
Essential changes hasn't occured. The nearest resistance - area
Chf1.0950/30. Above the target is on Chf1.1050 (May 21 high) and
Chf1.1150 (50% of Chf1.1720 - Chf1.0590 move). Support is near
yesterday’s low on Chf1.0760, stronger – on Chf1.0650 (Jun 11 low).
Then the rate may decline to Chf1.0590/00 (Jun 02 low).
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| 19.06 07:00 |
Germany PPI (May) 0,0%, Y/Y -3,6% |
| 19.06 06:46 |
Techs on GBP/USD:
Resistance 3:$1.6640 Resistance 2:$1.6580 Resistance 1: $1.6500 Current price: $1.6360 Support 1: $1.6200 Support 2: $1.6120 Support 3: $1.5960 COMMENTS:
The sterling bargains within the limits of yesterday's levels. Support
- week's low $1.6200. Below loss of a rate can will increase up to
$1.6120 and further to $1,5960 (23,6% FIBO of $1,3650-$ 1,6660 growth).
Resistance is in the field of June 16 high on $1.6500. Above growth is
probable up to $1.6580 and then - to $1.6640 (June 03 high)
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| 19.06 06:30 |
Techs on EUR/USD:
Resistance 3:$1.4330 Resistance 2:$1.4180 Resistance 1:$1.4000 Current price: $1.3919 Support 1: $1.3780 Support 2: $1.3720 Support 3: $1.3610 COMMENTS:
Significant changes of a tech hasn't occured. The nearest support is
the level $1.3780 (38,2 % FIBO of $1,2880-$ 1,4330 growth). Below
correction of a rate can reach $1.3720 (area of May 13 high and May 21
low). Below a rate can recede to 50,0% FIBO on $1.3610. High in the
field of $1.4000 are intermediate resistance. The capture of the given
mark will open road on $1.4180 (peak of June 11). Above is located the
six-month high on $1,4330.
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| 19.06 06:16 |
Daily History for June’18’2009:
High Low Close EUR/USD 1.4000 1.3869 1.3905 GBP/USD 1.6469 1.6187 1.6339 USD/JPY 96.68 95.61 96.56 USD/CHF 1.0899 1.0760 1.0856
EUR/JPY 134.97 133.00 134.27 EUR/GBP 0.8595 0.8489 0.8506 GBP/JPY 158.47 154.94 157.77 GBP/CHF 1.7783 1.7465 1.7738
Change % Change Last
Nikke -137.13 -1.39% 9,703.7
Topix -11.82 -1.30% 911.21
FTSE +2.40 +0.06% 4,280.86
CAC +32.92 +1.04% 3,194.06
Dax +37.50 +0.78% 4,837.48
Dow +58.42 +0.69% 8,555.60
NASDAQ -0.34 -0.02% 1,807.72
S&P +7.66 +0.84% 918.37
10yr Note +1.8700 +0.513% 3.834%
NYMEX Crude Oil +0.42 +0.59% 71.45
Gold -1.40 -0.15% 934.60
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| 19.06 06:01 |
Schedule for today, Friday June 19' of 2009
06:00 Germany PPI (May) Y/Y -2.7% 06:00 Germany PPI (May) -1.4% 12:30 Canada Retail sales excluding auto (April) -0.2% 12:30 Canada Retail sales (April) 0.3%
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