|
|
| 30.07 19:56 |
Hot Stocks: Siemens АG, Moody's Corp.
The housing rescue legislation signed by President Bush bolster mortgage finance giants Fannie Mae and Freddie Mac.
The industrial conglomerate Siemens AG said its third-quarter profit fell 31% from the same period a year ago, but was strengthened by better orders for power plants.
The world's second-largest credit-rating company Moody's Corp.
said second-quarter profit fell 48% to $135.2M as demand slumped for
ratings on mortgage bonds and collateralized debt obligations.
The clothing maker Hanesbrands Inc reported second-quarter profit of 65 cents a share, missing analysts’ estimates.
|
| 30.07 19:28 |
CRUDE OIL: Spikes to $127+, up over $5, late in the session |
| 30.07 19:08 |
GBP/USD :
Has also lifted back into the upper echelons of the day's range,
lifting to $1.9820 after earlier carving out fresh lows under $1.9750
after filling bids down there. Pair now within striking distance of
overnight highs at $1.9840, a thicket of offers up there.
|
| 30.07 18:51 |
American focus: Dollar advances to one-month high as U.S. Companies add Jobs
The dollar rose to a one-month high versus the euro after a private report showed U.S. companies unexpectedly added jobs.
``The worst may be behind the U.S. dollar,'' said Steven Butler,
director of foreign-exchange trading at Scotia Capital Inc. in Toronto.
``We can also look a little bit forward and hope that perhaps the U.S.
is starting to show some small signs of recovery.''
The U.S. dollar strengthened versus the euro as ADP Employer Services
reported that companies added 9,000 jobs in July after cutting a
revised 77,000 positions in the previous month. The median forecast of
29 economists was for a reduction of 60,000 jobs.
``Everything starts to align for the dollar,'' said Brian Dolan, chief
currency strategist at FOREX.com, a unit of online currency trading
firm Gain Capital in Bedminster, New Jersey. ``There's optimism that
we're starting to see some stabilization in the U.S. economy.''
The Labor Department will probably report on Aug. 1 that non-farm
payrolls dropped by 75,000 this month following a decline of 62,000 in
June, according to the median forecast.
The U.S. payroll report, which includes government hiring, has shown a
reduction in jobs each month this year, while ADP has recorded only two
declines.
The dollar pared its gain versus the euro after an Energy Department
report showing an unexpected decline in gasoline inventories pushed oil
prices higher.
Crude oil rose 0.3 percent to $122.50 a barrel on the New York Mercantile Exchange.
The dollar fell to an all-time low of $1.6038 per euro on July 15 on
concern losses in financial firms and record fuel prices may prolong
the economic slowdown in the U.S.
The Federal Reserve extended its emergency lending programs to Wall
Street firms through January after policy makers judged that markets
are still too weak to operate without a backstop from the central bank.
``It suggests the market is still fragile, and we're not out of the
woods yet,'' said Benedikt Germanier, a currency strategist at UBS AG
in Stamford, Connecticut. ``That means the Fed won't raise rates any
time soon. ''
|
| 30.07 18:18 |
Dow +49.59 at 11445.52, Nasdaq -6.71 at 2312.70, S&P +4.63 at 1267.65
The major indices are on the decline as crude prices (+2.1% to $124.72) rally to session highs. With the exception of energy (+3.1%), the recent pullback is broad-based, with financials (-0.6%), tech (-0.4%), healthcare (-0.7%), and consumer discretionary (-0.4%) now all posting a Electronic Artsloss.
The tech-heavy Nasdaq fall into negative territory, with notable weakness in Garmin ( -8.32), Cisco (-0.34) and (-3.94).
|
| 30.07 17:55 |
CRUDE OIL: Gains extend to about $2.25 after earlier losses of about $1. Crude trading at $124.75. |
| 30.07 17:37 |
Wall Street extends rally
Dow surges 150 points as stocks get an early boost from a surprise
jobs report, a mortgage relief bill and an extension of the Fed's
emergency loan program.
Stocks continued to soar Wednesday on an unexpected rise in private
payrolls, the signing of a mortgage relief bill to aid the housing
crisis, and a continuation of a Federal Reserve plan to help banks
during the credit crisis.
Stocks soared at the open, after a jobs report surprise gave investors hope of a brighter economic outlook.
The U.S. private sector added a seasonally adjusted 9,000 jobs during
the month of July, according to Wednesday's ADP employment report. That
was unexpected; economists had forecast a 60,000-job decline. July
marked a significant improvement over June's numbers, when the private
sector shed a revised 77,000 jobs.
The ADP payrolls survey came two days ahead of the more closely watched
employment report from the U.S. Labor Department, which is due out
Friday.
After initially threatening to veto the bill, President Bush on
Wednesday signed a sweeping measure to offer affordable
government-backed mortgages to homeowners at risk of foreclosure. The
law will also bolster government-sponsored mortgage finance giants
Fannie Mae and Freddie Mac with a temporary rescue plan and stricter
regulation. Congress approved the bill last week.
The Federal Reserve said Wednesday it is extending its emergency
borrowing program to assist Wall Street banks with liquidity during the
credit crisis. The plan was extended until Jan. 30. The U.S. central
bank originally said the plan, which began in March, would end in
mid-September.
Crude prices fell $1 to $121.19 per barrel. Oil has fallen $26 since setting a record high of $147.27 on July 11.
GPS navigation device maker Garmin reported quarterly earnings
Wednesday that rose 20%, but the company offered tepid guidance. Shares
plunged 13% Wednesday.
The NASDAQ was also restrained by disappointing earnings from Urltimate Softwae , down 27%, and Silicon Motion , off by 30%.
Financial rating and analysis company Moody's reported earnings that fell 48% from a year earlier, but results managed to beat analysts' expectations. Shares rose 1%.
COMEX gold for August delivery fell $20 to settle at
$896.50 per ounce, after fluctuating above and below the breakeven
point for much of the day.
Treasury prices fell Tuesday, sending the yield on
the benchmark 10-year note up to 4.11% from 4.05% late Tuesday. Bond
prices and yields move in opposite directions.
|
| 30.07 16:26 |
Dow +122.38 at 11517.98, Nasdaq +13.00 at 2332.62, S&P +12.62 at 1275.40
The S&P 500 is sporting a solid gain of 1.0%, but is off its
session high when it was up 1.4%. The pullback from its best level has
been mostly broad-based, although the financial sector has seen the
sharpest drop.
The financial sector is currently trading up 0.4% after retreating from
a gain of 3.4%. The life and health insurance group (-2.2%) is posting
the largest decline within the sector. MetLife (-2.63) reported a
larger-than-expected drop in profit due to the declining equity market
and catastrophes in its homeowners business. Second quarter earnings
per share declined 24% year-over-year to $1.20, which missed the
consensus estimate by $0.21.
|
| 30.07 15:44 |
USA EIA Crude Inventories (Jul 26) -1.6M |
| 30.07 15:33 |
Dow +111.39 at 11509.68, Nasdaq +6.91 at 2326.58, S&P +10.19 at 1273.40
The stock market continues to post a hefty gain. The Nasdaq is in
positive territory, but is up less than half of the S&P 500's
advance of 0.8%.
Nasdaq components Electronic Arts (-4.45) and Garmin (-6.70)
are getting hammered due to disappointment over their respective
quarterly earnings reports. Garmin increased profit compared to the
prior year, but the company's results and outlook fell short of Wall
Street estimates due to slower growth in GPS demand.
Electronic Arts saw a 41% increase in revenue, but its earnings per share of $0.42 was $0.09 worse than the consensus estimate.
|
| 30.07 15:03 |
JP Morgan about US labour-market data
JPM keeps -85k est
for July payrolls, says ADP "has overshot the first prints of the
official private-payroll figures in each of the last eight months."
|
| 30.07 14:44 |
OPTIONS: Expiries of note for today's 1400GMT cut
EUR/USD: $1.5650, $1.5750
USD/JPY: Y107.30, Y107.05
GBP/USD: $2.0020
AUS/USD: $0.9500, $0.9550, $0.9570, $0.9400
Kiwi: $0.7505, $0.7530
|
| 30.07 14:33 |
US Stocks Open: DJIA +95.51, Nadaq +14.46, S&P +9.94 |
| 30.07 14:23 |
Before the bell: futures suggest a modestly higher open
Futures suggest a slightly higher start after climbing to their best levels of the session (S&P futures +5.0, Nasdaq futures +5.2) following the better-than-expected ADP employment report. Energizer reported
a increase in net profit, although the results fell short of Wall
Street's estimate as economic conditions impact its battery business. FedEx was downgraded to Equal Weight from Overweight at Morgan Stanley. In earnings news, Moody's, Office Depot, Office Max and Viacom topped expectations. Several companies fell short of estimates, including Comcast, Garmin and MetLife. Shares of Wyeth and Elan are
getting hammered in premarket trading on disappointing data regarding
their Alzheimer drug; WYE is down 14.4% and ELN is down 32%. In
other news, the SEC extended its temporary rules to restrict naked
short selling on several financial stocks and President Bush signed the
housing bill into law that includes support for Fannie Mae and Freddie
Mac .
|
| 30.07 14:02 |
GBP/USD Back below $1.9800
Back below $1.9800, as rate gats pulled lower by euro-dollar's react to
the ADP release (general dollar demand) while euro-sterling holds
toward the low end of its tight stg0.7860/80 range. Bids seen palced
around $1.9760/50.
|
| 30.07 13:50 |
HFE about US DATA
"The bottom line here is that ADP is a very noisy survey, like the
official data, and single monthly observations have to be viewed
skeptically. The trend in employment is downwards and the trend in the
unemployment rate is upwards."
|
| 30.07 13:23 |
USA ADP employment (July) +9K |
| 30.07 13:14 |
Median estimate on ADP report on employment: -79K |
| 30.07 13:07 |
European session: Dollar trades near one-month high against Euro as stocks rise [M]
The following data were issued 08:00ItalyPPI (June) 0.8% 0.8% 1.5% 08:00ItalyPPI (June) Y/Y 8.2% - 7.5% 09:00EU(15)Economic sentiment index (July) 89.5 93.2 94.8 (94.9) 09:00EU(15)Business climate indicator (July) -0.21 - 0.13 (0.14)
The dollar traded near a one-month high versus
the euro, after its biggest gain in almost a month yesterday, before a U.S.
employment report and as oil fell for a second day. The U.S.
currency gained most versus the New Zealand
dollar and the South African rand as stocks rose in Asia and Europe
on optimism easing oil prices will curb company production costs. New Zealand's
dollar dropped to a 10-month low after Reserve Bank Governor Alan Bollard said
slowing economic growth will curb inflation in the next two years.

EUR/USD opened in early Europe
around $1.5570. Sell pressure took the pair to fresh lows for the day at
$1.5559. Good demand to buy ahead of $1.5550 saw the pair coming back to highs
for the day above $1.5614, with euro-dollar coming back to $1.5580.Bids $1.5560/50, bids $1.5480, offers $1.5520. GBP/USD opened early Europe
at $1.9783 before falling to the lows around $1.9770. Later rate recovered to $1.9840
where sellers were waiting and pound retreated to $1.9780. Cable bids $1.9770,
$1.9760/50, $1.9715/00. Offers $1.9840/50-70. USD/JPY opened in early Europe
around Y108.08 before sliding to Y107.95. Dlr-yen bids Y107.70/65, stops
below,bids Y107.30. Offers Y108.20/30.
At 12:15 GMT focus will be on
private ADP report on employment in US. The report is very important as it
comes ahead of Friday’s Non-farm payrolls report. At 12:30 GMT
Canada
is due to release its PPI report.
|
| 30.07 12:47 |
OPTIONS: Expiries of note for today's 1400GMT cut,
EUR/USD: $1.5650, $1.5750 USD/JPY: Y107.30, Y107.05 GBP/USD: $2.0020 AUS/USD: $0.9500, $0.9550, $0.9570, $0.9400 Kiwi: $0.7505, $0.7530
|
| 30.07 12:35 |
EUR/USD holds below $1.5600
EUR/USD still
under pressure after rate was punched back down to $1.5575 from earlier highs
of $1.5616, currently trading around $1.5590. Offers remain in place to
$1.5620, more around $1.5630 ahead of $1.5650/60. Main bids noted toward
$1.5550, with stops below, with interim interest noted at $1.5570.
|
| 30.07 12:20 |
US, White house: Bush signs housing rescue plan |
| 30.07 12:19 |
European focus: Euro recovers against dollar on inflation concerns [M]
The euro recovered from one-month lows against the
dollar as inflation concerns re-emerged after yesterday’s strong Germany CPI
report. Analysts believe the strong inflation reading in Germany has
increased the risk that inflation figures in the euro zone will come in above
expectations on Thursday.
Attention will fall on the dollar later
with the release of ADP's U.S.
private payrolls figures, particularly to give some indication of what to
expect from official non-farm payrolls data on Friday.
"Consensus
looks for the ADP figure to improve slightly from last month's 79,000 decline,
and we suspect a positive outturn could see further support for the
dollar," said Huw Worthington, strategist at Barclays Capital.
Elsewhere, the
pound remained under pressure from Tuesday's dismal data on high street and
housing market activity.
|
| 30.07 11:58 |
Crude WTI oil futures are back under pressure and trading near session low at $121.45 |
| 30.07 11:45 |
USD/JPY techs:
Resistance 3: Y110.00 Resistance 2: Y109.60 Resistance 1: Y108.30 Current price: Y107.91 Support 1: Y107.70 Support 2: Y106.50 Support 3: Y106.00 Comments: Dollar resumed decline with support mentioned near channel line on Y107.70. Below losses may widen to Y106.50 and Y106.00. Resistance comes at yesterday’s highs on Y108.30, then – at Y109.60. Strong resistance comes near channel line on Y110.00/05.
|
| 30.07 11:41 |
USD/CHF techs:
Resistance 3: Chf1.0610 Resistance 2: Chf1.0500 Resistance 1: Chf1.0480 Current price: Chf1.0452 Support 1: Chf1.0440 Support 2: Chf1.0380 Support 3: Chf1.0300 Comments: After yesterday’s rally dollar retreated a bit, testing support at 23.6% Fibo level on Chf1.0440 overnight. Below correction may dip to 61.8% Fibo on Chf1.0380. Key level comes at Chf1.0300 (channel support line from Jul 15). Resistance is around yesterday’s highs on Chf1.0480. A bit higher there is stronger level on Chf1.0500 (upper bound of the upward channel from Jul 15). Break above will open the way to May highs on Chf1.0610.
|
| 30.07 11:17 |
GBP/USD techs:
Resistance 3: $2.0070 Resistance 2: $1.9960 Resistance 1: $1.9840 Current price: $1.9810 Support 1: $1.9750 Support 2: $1.9650 Support 3: $1.9580 Comments: Techs on pound hasn’t changed. Strong support comes at channel line from Jul 15 on $1.9750/60 (yesterday pound failed to break under). Further target comes at Jul 22 lows on $1.9650. Key support is around trend line from Apr 2006 on $1.9580. Minor resistance is mentioned near 38.2% Fibo level of yesterday’s sell-off on $1.9840. Stronger level is near channel line from Jul 15 on $1.9960. Break above will open the way to Jul 07 highs on $2.0070.
|
| 30.07 11:04 |
EUR/USD techs:
Resistance 3:$1.5820 Resistance 2: $1.5750 Resistance 1: $1.5600 Current price: $1.5604 Support 1: $1.5560 Support 2: $1.5500 Support 3: $1.5440 Comments: Euro testing minor resistance around $1.5600, then resistance comes near Tuesday’s high on $1.5750. Stronger level comes at channel line on $1.5820. Strong support comes at channel line from Jul 15 at $1.5560 with a break under will widen losses to key support line, passing at trend line from Dec 08 2007 on $1.5500. Below there is a chance for decline down to $1.5440.
|
| 30.07 10:50 |
EU stocks get higher
European equity bourses are higher
Wednesday with strong results from Arcelor Mittal and Siemens improving
sentiment. Mining stocks are also higher with steelmaker ThyssenKrup bid after upgrade
from Merrill Lynch from "neutral" to "buy". CAC-50 is up
45pts, Xetra-DAX is up 39pts, FTSE-100 is up 71pts.
|
| 30.07 10:20 |
OPTIONS: Expiries of note for today's 1400GMT cut,
EUR/USD: $1.5650, $1.5750 USD/JPY: Y107.30, Y107.05 GBP/USD: $2.0020 AUS/USD: $0.9500, $0.9550, $0.9570, $0.9400 Kiwi: $0.7505, $0.7530
|
| 30.07 10:03 |
EU(15) Consumer confidence (July) -20 |
| 30.07 10:02 |
EU(15) Industry confidence (July) -8 |
| 30.07 10:01 |
EU(15) Economic sentiment index (July) 89.5 |
| 30.07 09:51 |
Rabobank is pessimistic on euro
“The euro
zone economy's outlook has really become more bleak,” said Jan Lambregts at
Rabobank International. “Ultimately, that means the upside for the euro-dollar
is becoming more capped at the moment.” Rabobank forecasts the euro will
decline to $1.55 by the end of this year.
|
| 30.07 09:41 |
Orders:
EUR Bids: $1.5550 Offers: $1.5620, $1.5650
JPY Bids: Y107.70, Y107.30 Offers: Y108.60
GBP Bids: $1.9760/50, $1.9715/00,
$1.9695/90
Offers: $1.9825, $1.9840/50
 AUSSIE Bids: $0.9450/40, $0.9330 Offers: $0.9520
|
| 30.07 09:20 |
Mizuho Corporate Bank on USD
“I still
remain super dollar-bearish,” said Michiyoshi Kato at Mizuho Corporate Bank
Ltd.. “As long as housing prices are plunging, the U.S. cannot pull the economy out of
its slump. Systemic risks of a credit crisis still prevail.”
|
| 30.07 09:03 |
ITALY: June PPI rose 0.8% m/m, 8.2% y/y |
| 30.07 08:55 |
Asian session: Yen trades near 1-month low [M]
The yen traded near a one-month low
against the dollar on speculation Japanese investors will invest their
summer bonuses in overseas assets offering higher yields. The
currency may fall for a second day as Japanese finance companies seek to raise
about 380 billion yen ($3.5 billion) in the remainder of this week for funds
investing abroad. The Australian dollar declined after a
government report showed home-building approvals unexpectedly dropped in June
for a second month. New Zealand's dollar fell to a
10-month low after Reserve Bank Governor Alan Bollard said a slowing economy
will slow inflation over the next two years. The dollar may rise for a
second day against the euro after crude oil dropped to a 12-week low of $120.42
a barrel yesterday, helping drive U.S. stocks higher. The euro
may decline on speculation a European report today will show
economic sentiment fell to a five-year low in July, adding to signs of cooling
growth in the 15-nation region's economy.
EUR/USD tested key support zone
between $1.5550/60 and recovered to $1.5600. In general, rate holds within the $1.5550/$1.5610
channel.
GBP/USD consolidated within
the $1.9800/20 range overnight before it fell to $1.9760. Currently rate holds near
$1.9800/05.
USD/JPY printed low on Y107.80
before it rebounded to Y108.20. But dollar failed to set above the figure and
back off to Y107.94.
EU data
starts with inflation numbers from Italia. But more important EU economic and
consumer indexes will be. At 12:15 GMT focus will be on private
ADP report on employment in US. The report is very important as it
comes ahead of Friday’s Non-farm payrolls report. At 12:30 GMT
Canada
is due to release its PPI report.
|
| 30.07 08:49 |
Japan stocks closed higher
Japan's
benchmark stock indies ended Wednesday's session higher, with the benchmark Nikkei
225 up 208.34 points, or 1.58%, at 13367.79. The broader-based TOPIX was 21.35
points higher at 1302.35.
|
| 30.07 08:31 |
Stock market: Tuesday summary
Stock market fixing: Nikkei 225 - 194.33 -1.5% 13,159.45
Topix -19.15 -1.5% 1,281.64
DAX 30 -85.56 -1.33% 6,351.15
САС 40 -3.96
-0.09% 4,320.49
FTSE 100 -40.00 -0.75% 5,312.60
Dow +266.48 +2.39% 11,397.56
Nasdaq +55.40 +2.45% 2,319.62
S&P +28.83 +2.34% 1,263.20
10YR+0.2600 +0.065% 4.044%
NYMEX Crude Oil -2.54 -2.04% 122.19
Gold -11.40 -1.22% 926.40
Japan stocks fell to the lowest in a week on
concern surging energy costs will erode earnings and spending, and financial
companies' credit losses will accelerate. Toyota
Motor Corp. dropped after cutting its sales forecast, while parts affiliate
Aisin Seiki Co. plunged the most in six months. Nomura Holdings Inc., the
nation's biggest brokerage, sank near a two-week low after Merrill Lynch &
Co. announced more writedowns. Mitsui O.S.K. Lines Ltd. led shipping lines
lower after cargo rates for commodities fell a 12th straight day. Japan's jobless
rate climbed to 4.1% in June, the highest level in almost two years, the
statistics bureau said today. Economists had forecast the gauge to remain at 4%.
Household spending fell 1.8%, a fourth month of decline. Merrill
Lynch said Monday it will raise an additional $8.5 billion by selling shares
and take a $5.7 billion writedown because of losses on collateralized debt
obligations. Meanwhile, the IMF stood by its forecast for $1 trillion in credit
market losses and said an end to the U.S. housing recession is ``not
visible.''
European stocks rose for the first
time in four days after a report showed U.S. consumer confidence
unexpectedly advanced this month. Nestle SA
and L'Oreal SA led gains by companies that rely on the U.S. for more
than a quarter of their sales. Air France-KLM Group, Europe's
biggest airline, and Ryanair Holdings Plc advanced as oil dropped to a 10-week
low. Better-than-estimated profit from U.S. Steel Corp. lifted steelmakers. SAP
AG rallied after increasing its full-year revenue and margin forecasts. British
Airways Plc added 6%. Europe's third-biggest carrier said it's holding talks
with Spain's
Iberia Lineas Aereas de Espana SA about a merger. Shares in Iberia rallied 21%. ArcelorMittal,
the world's biggest steelmaker, jumped 4.8%. ThyssenKrupp AG, Germany's largest, climbed 2.9%. SAP surged
9.8%. The world's largest maker of business-management software said it sees
full-year revenue increasing to the top end of the target range between 24% and
27%. UBS AG
dropped 3.6% and Barclays Plc sank 4.1% after Merrill Lynch & Co. said it
will book more writedowns and sell $8.5 billion of stock.
Dow soared by more than 200 points on
encouraging news from Merrill Lynch and a surprise rise in consumer confidence.
Oil prices tumble, adding to rally.
Investment
bank Merrill Lynch said late Monday it would take a $5.7 billion writedown and
sell off $11.1 billion in mortgage securities in the current quarter. The
brokerage also said it plans to raise $8.5 billion through the issuance of new
stock. The market then continued its gains
as oil prices fell further. Crude prices fell $3.15 to $121.58 per
barrel Tuesday after OPEC president Chakib Khelil said oil was overpriced and
will soon sink to $70 a barrel. Consumer confidence got a surprise
boost in July, according to the Conference Board's Consumer Confidence Index
released Tuesday. The index rose nearly a point after falling in the previous
six months. Analysts anticipated the index to fall again by 0.4 points. Separate
report was less optimistic, showing May home prices dropped a record
15.8% from a year ago. It was the 22nd consecutive month of decline recorded by
the index.
|
| 30.07 08:10 |
FOREX. Tuesday summary
The dollar advanced to a one-month high versus the euro and the yen as U.S. consumer confidence
increased and crude oil prices dropped, reducing concern the economy may fall
into a recession. The New York-based Conference Board's U.S. consumer confidence index rose
this month to 51.9, higher than forecast, from a revised 51 in June, the lowest since
February 1992. The pound dropped sharply in value
against other currencies after a survey by the Confederation of British
Industry showed UK
high street sales are falling off the charts.In its distributive
trades survey, the CBI said the balance of retail sales came of -36% (the
lowest reading since the survey began in July 1983) versus June's -9%. Analysts
had expected a more modest fall to -15%. "The
survey... significantly bolsters the case for the Bank of England to hold off
from raising interest rates despite current elevated inflation levels and
risks," said Howard Archer at Global Insight. "Indeed, it very much
boosts the case for the next move in interest rates to be down," he added. The yen declined earlier against the dollar after government reports showed Japan's
unemployment rate rose in June to 4.1 percent, the highest level in almost two
years, and household spending fell, adding to signs the economy's longest
postwar expansion may be ending.

EUR/USD consolidated
within the $1.5740/55 range overnight before sliding to $1.5725. Later euro recovered
to session high, but strong data from US spurred the sell-off down to $1.5550. GBP/USD rose
to $1.9968, but offers ahead of $1.9980 capped the rise and rate retreated to $1.9931.
Later weak CBI retail sales report dragged the pound down to $1.9760. USD/JPY held
within the Y107.30/45 before rising to Y108.30 and set stable around Y108.10/30.
EU data
starts with inflation numbers from Italia. But more important EU economic and
consumer indexes will be. At 12:15 GMT
focus will be on private ADP report on employment in US. The report is very important
as it comes ahead of Friday’s Non-farm payrolls report. At 12:30 GMT
Canada
is due to release its PPI report.
|
| 30.07 07:49 |
USD/JPY techs:
Resistance 3: Y110.00 Resistance 2: Y109.60 Resistance 1: Y108.30 Current price: Y108.07 Support 1: Y107.70 Support 2: Y106.50 Support 3: Y106.00 Comments: Dollar holds within the rising channel from Jul 16 with resistance comes at yesterday’s highs on Y108.30, then – at Y109.60. Strong resistance comes near channel line on Y110.00/05. Support mentioned near channel line on Y107.70. Below losses may widen to Y106.50 and Y106.00.
|
| 30.07 07:42 |
USD/CHF techs:
Resistance 3: Chf1.0610 Resistance 2: Chf1.0500 Resistance 1: Chf1.0480 Current price: Chf1.0452 Support 1: Chf1.0440 Support 2: Chf1.0380 Support 3: Chf1.0300 Comments: After yesterday’s rally dollar retreated a bit, testing support at 23.6% Fibo level on Chf1.0440 overnight. Below correction may dip to 61.8% Fibo on Chf1.0380. Key level comes at Chf1.0300 (channel support line from Jul 15). Resistance is around yesterday’s highs on Chf1.0480. A bit higher there is stronger level on Chf1.0500 (upper bound of the upward channel from Jul 15). Break above will open the way to May highs on Chf1.0610.
|
| 30.07 07:15 |
GBP/USD techs:
Resistance 3: $2.0070 Resistance 2: $1.9960 Resistance 1: $1.9840 Current price: $1.9773 Support 1: $1.9750 Support 2: $1.9650 Support 3: $1.9580 Comments: Pound remains under pressure after yesterday’s release of weak CBI retail sales numbers. Strong support comes at channel line from Jul 15 on $1.9750/60 (yesterday pound failed to break under). Further target comes at Jul 22 lows on $1.9650. Key support is around trend line from Apr 2006 on $1.9580. Minor resistance is mentioned near 38.2% Fibo level of yesterday’s sell-off on $1.9840. Stronger level is near channel line from Jul 15 on $1.9960. Break above will open the way to Jul 07 highs on $2.0070.
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| 30.07 06:58 |
EUR/USD techs:
Resistance 3:$1.5820 Resistance 2: $1.5750 Resistance 1: $1.5600 Current price: $1.5564 Support 1: $1.5560 Support 2: $1.5500 Support 3: $1.5440 Comments: Euro testing channel support line from Jul 15 at $1.5560 with a break under will widen losses to key support line, passing at trend line from Dec 08 2007 on $1.5500. Below there is a chance for decline down to $1.5440. Minor resistance is around session highs at $1.5600, then – near Tuesday’s high on $1.5750. Stronger level comes at channel line on $1.5820.
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| 30.07 06:46 |
Major European bourses are seen trading higher Weds, helped by the extended gains in the US: the FTSE up 48, the DAX up 48, the CAC up 36 and the Eurostoxx 50 up 30 |
| 30.07 06:34 |
Daily History for July 29, 2008
High Low Close EUR/USD 1.5756 1.5551 1.5583 USD/JPY 108.29 107.27 108.14 GBP/USD 1.9967 1.9760 1.9799 USD/CHF 1.0478 1.0316 1.0465
EUR/JPY 169.45 168.27 168.53 EUR/GBP 0.7912 0.7861 0.7869 GBP/JPY 214.79 213.70 214.12 GBP/CHF 2.0727 2.0564 2.0722
Change % Change Last Nikkei 225 - 194.33 -1.5% 13,159.45 Topix -19.15 -1.5% 1,281.64 DAX 30 -85.56 -1.33% 6,351.15 САС 40 -3.96 -0.09% 4,320.49 FTSE 100 -40.00 -0.75% 5,312.60 Dow +266.48 +2.39% 11,397.56 Nasdaq +55.40 +2.45% 2,319.62 S&P +28.83 +2.34% 1,263.20 10YR+0.2600 +0.065% 4.044% NYMEX Crude Oil -2.54 -2.04% 122.19 Gold -11.40 -1.22% 926.40
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| 30.07 06:15 |
Schedule for today, Wednesday, July 30, 2008
08:00 Italy PPI (June) 0.8% 1.5% 08:00 Italy PPI (June) Y/Y - 7.5% 09:00 EU(15) Economic sentiment index (July) 93.2 94.9 09:00 EU(15) Business climate indicator (July) - 0.14 12:15 USA ADP employment (July) -45K -79K 17:00 France Unemployment (June) - +5.4K 23:01 UK Gfk consumer confidence (July) -36 -34
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