Daily Market Outlook from ACFX

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Daily Market Outlook

Posted by on January 17, 2013

Important Financial Indicators of the day Forecast Previous
USD 15:30 (GMT) Building Permits 0.91M 0.90M
USD 15:30 (GMT) Unemployement Claims 369K 371K
USD 17:00 (GMT) Philly Fed Manufacturing Index 7.1 8.1
NZD 23:45 (GMT) CPI q/q 0.1% 0.3%
Currencies

AUD/USD Australia’s dollar slid versus all of its 16 major counterparts after a report today showed employers in the country unexpectedly cut payrolls last month, adding to concern the domestic economy is slowing.
Australia’s dollar lost 0.6 percent to $1.0507 at 2:53 p.m. in Sydney. It dropped 0.7 percent to 92.80 yen, extending its 1.2 percent decline in the previous two days. New Zealand’s currency slid 0.2 percent to 83.90 U.S. cents after rising 0.2 percent yesterday. It weakened 0.3 percent to 74.09 yen

USD/JPY The yen fell, snapping a two-day gain, as investors weighed the likelihood of new monetary easing measures by the Bank of Japan (8301) next week.
The yen slid 0.4 percent to 88.74 per dollar at 3:09 p.m. in Tokyo, after gaining 1.2 percent over the previous two days. It sank to 89.67 on Jan. 14, the lowest since June 2010. It fell 0.5 percent to 117.96 per euro. The euro was little changed at $1.3295.

USD/CAD The Canadian dollar fell against most of its major peers as government officials in Russia and Japan criticized monetary policies that have devalued major currencies in an attempt to spark economic growth.
The Canadian dollar, known as the loonie for the image of the waterfowl on the C$1 coin, declined 0.2 percent to 98.59 cents per U.S. dollar at 5:05 p.m. in Toronto. One loonie buys $1.0143

Commodities

Oil fell in New York as investors
speculated a rally to the highest level in four months was
exaggerated amid concern the global economic recovery may
falter, curbing fuel demand
Crude for February delivery declined as much as 44 cents to
$93.80 a barrel in electronic trading on the New York Mercantile
Exchange and was at $93.83 at 1:12 p.m. Singapore time. The
contract climbed 96 cents to $94.24 yesterday, the most since
Jan. 2. It was the highest close since Sept. 18.
Brent oil for March settlement on the London-based ICE
Futures Europe exchange decreased as much as 23 cents to $109.45
a barrel. The European benchmark crude was at a premium of
$15.27 to New York-traded West Texas Intermediate for the same
month. The spread ended yesterday’s session at $16.37, the
narrowest since Sept. 19.

Gold traded little changed near a
two-week high as investors weighed concern about slowing global
economic growth and expectations for more stimulus. Palladium
was near the highest level since September 2011.

Spot gold was at $1,680.05 an ounce at 10:29 a.m. in Singapore from $1,679.95 yesterday. The metal reached $1,685.25 on Jan. 15, the most expensive since Jan. 3, as U.S. lawmakers wrangled over increasing the $16.4 trillion debt ceiling. Since 1960, Congress has raised or revised the debt limit 79 times, including 49 times under Republican presidents, according to the Treasury Department.

Equities

Asian stocks declined, with the regional benchmark index poised to fall a second day, after touching a 17-month high this week. The Nikkei 225 (NKY) Stock Average headed for its biggest two-day drop since November 2011 after the yen reversed its losses.
The MSCI Asia Pacific Index dropped 0.5 percent to 130.84
as of 1:42 p.m. Tokyo time, erasing gains of as much as 0.6
percent. The gauge rallied 9.8 percent from Nov. 14 through
yesterday as Japanese shares surged on speculation Prime
Minister Shinzo Abe will pursue more aggressive stimulus
policies and reports showed recovery in the U.S. and China.

European stocks were little changed,
erasing an earlier retreat for the region’s benchmark Stoxx
Europe 600 Index, as U.S. industrial production climbed and
Goldman Sachs Group Inc.’s earnings topped estimates.

The Stoxx 600 rose less than 0.1 percent to 286.03 at the
close of trading, after earlier falling as much as 0.4 percent.
The gauge has advanced 2.3 percent since the start of the year
after U.S. lawmakers agreed on a budget, avoiding tax increases
and spending cuts

U.S stocks fell, following yesterday’s gain, as a cut in the World Bank’s growth forecasts offset a rally in Apple Inc. as investors watched earnings.
.
Three stocks retreated for every two rising on U.S. exchanges at 4 p.m. New York time. The Standard & Poor’s 500 Index advanced less than 0.1 percent to 1,472.63. The Dow Jones Industrial Average declined 23.66 points, or 0.2 percent, to 13,511.23. About 5.6 billion shares changed hands on U.S. exchanges, or 8.6 percent below the three-month average.

 

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Daily Market Outlook

Posted by on January 21, 2013

Important Financial Indicators of the day Forecast Previous
EUR 09:00 (GMT) EuroGroup Meeting text text

Currencies

AUD/JPY The Australian dollar declined
versus the yen before an inflation report this week that may
prompt further interest-rate cuts, damping demand for the
nation’s assets.
Australia’s dollar declined 0.4 percent to 94.28 yen as of
1:21 p.m. in Sydney, and traded little changed at $1.0516 after
touching $1.0486 on Jan. 18, the least since Jan. 8. New
Zealand’s currency, known as the kiwi, weakened 0.8 percent to
74.84 yen. It declined 0.2 percent to 83.47 cents, after
touching 83.34, the lowest since Jan. 7.

USD/JPY The yen rallied from its weakest
level in 2 1/2 years as Asian stock declines spurred demand for
safety and a decrease in bearish bets supported the currency.
The yen rose 0.4 percent to 89.75 per dollar as of 11:52 a.m. in Tokyo after earlier touching 90.25, the weakest since June 2010. Japan’s currency gained 0.3 percent to 119.59 per euro, after sliding 0.8 percent last week. The dollar was little changed at $1.3324 per euro from its close on Jan. 18, when it advanced 0.4 percent.

GBP/USD The pound had its steepest weekly
drop against the dollar since June on concern the U.K. economy
is struggling to expand and as growing investor confidence in
the euro-area damps demand for the currency as a haven.

The pound fell 1.7 percent to $1.5861 in the week to 5:46
p.m. London time yesterday, after sliding to $1.5854, the lowest
level since Nov. 16. The U.K. currency lost 1.5 percent to 83.83
pence per euro after depreciating to 83.95 pence, the weakest
since March 28.

USD/CAD The Canadian dollar fell the most in a month against its U.S. counterpart as selling pressure emerged after signs of economic growth from the U.S. and China failed to drive the currency above a key technical level.
The loonie fell 0.7 percent to 99.17 cents per U.S. dollar
this week in Toronto, the largest decline since the five days
ended Dec. 21. One loonie buys $1.0084.

Commodities

Oil dropped from the highest price
in four months in New York before U.S. lawmakers vote on budget
measures and European finance ministers meet to discuss the debt
crisis that threatens the region’s economy.
WTI for February delivery, which expires tomorrow, slid as
much as 36 cents to $95.20 a barrel in electronic trading on the
New York Mercantile Exchange and was at $95.23 at 1:23 p.m.
Sydney time. The more-active March future declined 27 cents to
$95.77. The front-month future increased 7 cents to $95.56 on
Jan. 18, the highest close since Sept. 17.
Brent for March settlement fell 25 cents to $111.64 a barrel on the London-based ICE Futures Europe exchange. The average volume of all contracts traded was 84 percent above the 100-day average. The European benchmark contract was at a premium of $15.89 to WTI futures for the same month. The gap was $15.16 on Jan. 17, the narrowest since July 24

Gold advanced on expectations for
more stimulus while U.S. lawmakers wrangle over the country’s
debt limit. Silver traded near the highest level in a month and
was set for the longest rally in a year
Gold rallied for a 12th year in 2012 on global stimulus
measures. The Bank of Japan starts a two-day policy meeting
today, while European finance ministers meet in Brussels for the
first time this year. In the U.S., House Republicans will use a
planned Jan. 23 vote on a three-month debt-ceiling increase to
try to force Senate Democrats to adopt a budget to spell out
their spending plan.

Equities

Asian stocks fell amid
speculation shares may have risen too far, too fast. Japanese
shares led the retreat as the yen climbed against the dollar
after hitting its lowest level in 2 1/2 years.

The MSCI Asia Pacific Index slid 0.1 percent to 132.62 as
of 11:35 a.m. in Tokyo, with about four stocks falling for every
three that rose. The gauge rallied 11 percent from Nov. 14
through Jan. 18 as Japanese shares jumped on optimism Prime
Minister Shinzo Abe will pursue more aggressive stimulus
policies to boost the economy.

European stocks were little changed
this week as better-than-expected economic data from China and
the U.S. offset concern that debt-ceiling talks will weigh on
recovering growth in the world’s biggest economy.

The Stoxx 600 Europe Index fell less than 0.1 percent to 287.03 this week. The measure climbed to its highest level since February 2011 last week amid speculation that U.S. companies’ earnings would exceed analysts’ estimates.

U.S stocks rose for a third week,
driving benchmark indexes to five-year highs, as earnings from
companies including General Electric Co. and Goldman Sachs Group
Inc. beat estimates and debt-limit talks progressed.

The S&P 500 (SPX) rose 1 percent to 1,485.98, extending its 2013 advance to 4.2 percent. The Dow Jones Industrial Average added 161.27 points, or 1.2 percent, to 13,649.70. Both measures closed at their highest levels since December 2007.

 

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Daily Market Outlook

Posted by on January 22, 2013

Important Financial Indicators of the day Forecast Previous
JPY Tentative BOJ Press Conference
EUR 12:00 (GMT) German ZEW Economic Sentiment 12.2 6.9
CAD 15:30 (GMT) Core Retail Sales m/m 0.1% 0.5%
USD 17:00 (GMT) Existing Home Sales 5.09M 5.04M
EUR 20:00 (GMT) ECB President Draghi Speaks

Currencies

AUD/JPY The Australian dollar halted a two- day decline against the yen before the Bank of Japan (8301) concludes a policy meeting amid speculation it will announce further stimulus measures.
Australia’s dollar traded at 94.14 yen as of 1:41 p.m. in
Sydney from 94.23 yesterday after a 0.6 percent two-day decline.
It rose 0.1 percent to $1.0522. New Zealand’s dollar bought
75.04 yen from 74.91 yesterday and rose 0.4 percent to 83.89
U.S. cents

USD/JPY The yen weakened toward the lowest level since June 2010 after the Bank of Japan (8301) announced open- ended asset purchases and adopted a 2 percent inflation target.
The yen lost 0.2 percent to 89.78 per dollar at 1:11 p.m. in Tokyo. Japan’s currency weakened 0.4 percent to 119.78 per euro following a 0.6 percent advance to 119.30 yesterday. The euro gained 0.3 percent to $1.3350.

Commodities

Oil traded near a four-month high in New York as Japan’s central bank said it will expand asset purchases to lift the world’s third-biggest crude consumer out of its third recession in five years. Brent prices advanced.
Crude for February delivery, which expires today, was at
$95.59 a barrel in electronic trading on the New York Mercantile
Exchange, up 3 cents at 11:53 a.m. Singapore time. The more
active March contract gained 8 cents at $96.12. Yesterday’s
transactions will be booked with today’s trades for settlement
purposes. Front-month futures rose 7 cents to $95.56 on Jan. 18,
the highest close since Sept. 17.
Brent oil for March settlement on the London-based ICE
Futures Europe exchange traded at $112.05 a barrel, up 34 cents.
The average volume of all contracts was 4 percent above the 100-
day average. The European benchmark crude was at a premium of
$15.97 to New York futures for the same month. The spread was
$15.16 on Jan. 17, the narrowest since July 24.

Gold extended its advance toward a one-month high after the Bank of Japan set a 2 percent inflation target and shifted to Federal Reserve-style open-ended asset purchases in an attempt to end two decades of deflation.
Spot gold increased as much as 0.2 percent to $1,693.30 an
ounce and traded at $1,692.60 at 12:08 p.m. in Singapore.
Bullion reached a one-month high of $1,696.29 on Jan. 17 on
concern global growth may slow. Gold for February delivery
gained 0.3 percent to $1,691.90 on the Comex in New York.

Equities

Asian stocks rose as the Bank of Japan (8301) said it would set a 2 percent inflation target and shifted to Federal Reserve-style open-ended asset purchases.
The MSCI Asia Pacific Index rose 0.2 percent to 132.43 as of of 1:12 p.m. in Tokyo, with about the same number of stocks rising and falling. Asia’s benchmark equities index is poised to gain for a third month amid signs the U.S. and Chinese economies are recovering and as Japanese shares rallied on Prime Minister Shinzo Abe’s more aggressive stimulus policies.

European stocks climbed to a one-
week high as euro-area finance ministers met for the first time
this year to address the region’s debt crisis. U.S. index
futures advanced.

The Stoxx Europe 600 Index (SXXP) rose 0.3 percent to 287.78 at the close of trading, the highest since Jan. 9. The gauge has gained 2.9 percent this year after U.S. lawmakers agreed on a budget deal avoiding most tax increases and spending cuts that had threatened to push the economy into a recession. With the so-called fiscal cliff averted, Congress now must decide whether to lift the federal debt limit as soon as mid-February

Canadian stocks rose, closing at the highest level in more than 17 months, as European finance ministers met for the first time this year to discuss a solution to the region’s debt crisis.
The Standard & Poor’s/TSX Composite Index (SPTSX) rose 68.56 points, or 0.5 percent, to 12,794.25 in Toronto, the highest close since August 2011. The benchmark gauge has gained 2.9 percent this year. Markets in New York were closed for Martin Luther King Jr. Day.

 

[acfx]

Daily Market Outlook

Posted by on January 25, 2013

Important Financial Indicators of the day Forecast Previous
EUR 11:00 (GMT) German Ifo Business Climate 103.1 102.4
GBP 11:30 (GMT) Prelim GDP q/q -0.1% 0.9%
CAD 15:30 (GMT) Core CPI m/m -0.2% 0.0%
USD 17:00 (GMT) New Home Sales 387K 377K

Currencies

EUR/USD The Australian dollar rose versus the yen for a second day on speculation pressure will increase on the Bank of Japan (8301) to expand stimulus after core consumer prices in the nation declined last month.
Australia’s dollar rose 0.2 percent to 94.54 yen as of 1:45
p.m. in Sydney. It fell as low as $1.0439, the weakest since
Jan. 4, before trading little changed at $1.0452.

USD/JPY The yen headed for a record stretch
of weekly losses against the dollar as data showing a decline in
Japanese consumer prices added to the case for further monetary
stimulus from the central bank.
The Japanese currency slid 0.1 percent to 90.45 per dollar
at 1:17 p.m. in Tokyo from yesterday, after earlier touching
90.69, the weakest since June 21, 2010. It was set for an 11th
weekly loss, the longest losing streak in data compiled by
Bloomberg going back to 1971.

GBP/USD The pound fell to the weakest level in 11 months versus the euro before data tomorrow that economists said will show U.K. gross domestic product shrank last quarter.
The pound depreciated 0.8 percent to 84.76 pence per euro
at 4:35 p.m. London time after sliding to 84.81 pence, the
weakest since Feb. 28. Sterling fell 0.4 percent to $1.5780
after declining to $1.5757, the lowest since Aug. 28.

Commodities

Oil headed for a seventh weekly
advance in New York, the longest run of gains in almost four
years, amid signs of global economic growth and a drop in crude
stockpiles at Cushing, the U.S. storage hub.
Crude for March delivery was at $95.88 a barrel, down 7
cents, in electronic trading on the New York Mercantile Exchange
at 1:11 p.m. Sydney time. Futures rose 0.8 percent to $95.95
yesterday, the most since Jan. 17, and are up 0.4 percent this
week. A seventh weekly gain would be the longest run since April
2009. The average volume of all futures traded today was 61
percent below the 100-day average.
Brent for March settlement fell 17 cents to $113.11 a
barrel on the London-based ICE Futures Europe exchange. The
European benchmark contract was at a premium of $17.27 to WTI
futures, down from $17.33 yesterday. The gap was $15.16 on Jan.
17, the narrowest in almost six months.

Gold was poised for a weekly decline after reports from the U.S. to China signaled improving global growth, curbing demand for the metal as a haven asset. Platinum was on course for the best run of weekly gains in almost a year.
Gold for immediate delivery fell as much as 0.3 percent to $1,663.85 an ounce, the cheapest since Jan. 14, and was at $1,667.85 at 12:51 p.m. in Singapore. Prices are 1 percent lower this week, the most since the period to Dec. 21. Bullion for February delivery dropped as much as 0.4 percent to $1,662.60 an ounce, also the lowest since Jan. 14, on the Comex in New York

Equities

Asian stocks rose as declines
in Japanese consumer prices added to the case for more monetary
stimulus, boosting the Topix Index toward its longest weekly
winning streak in 40 years. Shares also gained after U.S.
jobless claims fell to a five-year low.

The MSCI Asia Pacific Index (MXAP) rose less than 0.1 percent to 131.49 as of 12:50 p.m. in Tokyo. About five stocks gained for every four that fell. The gauge is set for a 0.9 percent loss this week after a two-day retreat from the highest close in 17- months on Jan 22.

European stocks climbed to their
highest level since February 2011 as jobless claims in the U.S.
fell to a five-year low and the House of Representatives voted
to temporarily suspend the federal government’s borrowing limit.

The Stoxx Europe 600 Index (SXXP) gained 0.2 percent to 288.89 at the close of trading, after earlier sliding as much as 0.4 percent. The equity benchmark has climbed 3.3 percent this year after U.S. lawmakers agreed on a compromise budget.

U.S stocks rose, with the Standard & Poor’s 500 Index briefly topping 1,500, as an unexpected drop in jobless claims and better-than-forecast earnings offset the worst slump for Apple Inc. (AAPL) in four years.
The S&P 500 (SPX) was unchanged at 1,494.82, after rallying as much as 0.5 percent earlier. The Dow Jones Industrial Average gained 46 points, or 0.3 percent, to 13,825.33. The Nasdaq 100 Index (NDX) slid 1.4 percent to 2,723.53. More than 6.8 billion shares traded hands on U.S. exchanges today, or 10 percent above the three-month average.

 

[acfx]

Daily Market Outlook from ACFX 29/1/2013

Daily Market Outlook

Posted by on January 29, 2013

Important Financial Indicators of the day Forecast Previous
USD 15:00 (GMT) CB Consumer Confidence 64.8 65.1

Currencies

■EUR/USD The dollar weakened against most of its 16 major counterparts as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two-day meeting tomorrow. The U.S. currency was 0.2 percent from its lowest in 11 months versus the euro before a report today forecast to show confidence among U.S. consumers declined this month.
■The dollar traded at $1.3440 per euro as of 3:03 p.m. in Tokyo from $1.3456 in New York. It reached $1.3479 per euro on Jan. 25, the weakest level since Feb. 29, 2012.
■AUD/USD The so-called Aussie dollar rose against 14 of its 16 major counterparts after data showed the nation’s business confidence for December rebounded by the most in more than a decade.
■Australia’s dollar rose 0.4 percent to $1.0454 from the close yesterday when it touched $1.0385, the least since Jan. 2
■USD/CAD The Canadian dollar traded close to a six-month low versus its U.S. counterpart as signs of slower economic growth weighed on demand.
■The loonie, as the Canadian dollar is called for the image of the aquatic bird on the C$1 coin, was little changed at C$1.0063 per U.S. dollar at 5 p.m. in Toronto, after reaching its lowest point since July 26. One loonie buys 99.37 U.S. cents.

Commodities

■Oil traded near the highest level in four months in New York on signs of economic growth in the U.S. and after OPEC Secretary General Abdalla El-Badri said prices are unlikely to drop this year.
■Crude for March delivery was at $96.72 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 1:22 p.m. Singapore time. The average volume of all contracts traded was 50 percent below the 100-day average. Futures rose to $96.44 yesterday, the highest since Sept. 17.
■Brent for March settlement rose 10 cents to $113.58 a barrel on the London-based ICE Futures Europe exchange. The average volume of all contracts traded was 40 percent below the 100-day average. The European benchmark grade was at a premium of $16.86 to West Texas Intermediate futures, from $17.04 yesterday.
■Gold holdings in exchange-traded products are poised for the biggest monthly decline in more than a year as signs that the global economic recovery is strengthening curb demand for haven investments.
■Gold for April delivery gained as much as 0.4 percent to $1,661.50 an
ounce, and traded at $1,660.40 at 1:11 p.m. in Singapore. Futures fell
0.9 percent this year, lagging behind gains in silver, platinum and
palladium, metals used mainly in industry that benefit from faster
economic growth.

Equities
■Asian stocks rose, with the regional benchmark index headed for its biggest gain in a week, as Japan’s largest lenders jumped on speculation a recent share rally will boost profit. Australia’s market climbed after a holiday and Korean shares rebounded from yesterday’s loss.
■The MSCI Asia Pacific Index rose 0.9 percent to 132.5 as of 3:33 p.m. in Tokyo, headed for its biggest advance since Jan. 18, with more than twice as many shares rising as declining. The gauge jumped 9.6 percent from Nov. 14 through yesterday, led by Japanese shares on optimism Prime Minister Shinzo Abe’s new government will take the necessary steps to fight deflation.
■U.K. stocks rose, extending their highest level since May 2008, as a report showed that durable- goods orders in the U.S., Britain’s biggest trading partner, rose at a faster rate than economists had estimated.
■The FTSE 100 added 9.96 points, or 0.2 percent, to 6,294.41 at the close in London. The equity benchmark has gained 6.7 percent so far in 2013, its best start to a year since 1989, as U.S. lawmakers agreed on a compromise budget. The broader FTSE All-Share Index rose 0.1 percent today, while Ireland’s ISEQ Index was little changed.
■U.S stocks fell, following the longest rally for the Standard & Poor’s 500 Index since 2004, as a drop in pending home sales overshadowed a rise in durable- goods orders while investors watched earnings.
■The S&P 500 fell 0.2 percent to 1,500.18 at 4 p.m. in New York. The equity benchmark closed above 1,500 last week for the first time since December 2007 after an eight-day rally.
■The Dow Jones Industrial Average lost 14.05 points, or 0.1 percent, to 13,881.93 today. The Nasdaq 100 Index added 0.2 percent to 2,742.43. About 6.1 billion shares traded hands on U.S. exchanges today, or 1.1 percent below the three-month average.

 

[acfx]

Daily Market Outlook

Posted by on January 30, 2013

Important Financial Indicators of the day Forecast Previous
EUR Tentative Italian 10 Yr Bond Auction 4.48/1.5
USD 15:15 (GMT) ADP Non Farm Employment Change 164K 215K
USD 15:30 (GMT) Advance GDP q/q 1.1% 3.1%
USD 21:15 (GMT) FOMC Statement
NZD 22:00 (GMT) Official Cash rate 2.50% 2.50%
NZD 22:00 (GMT) RBNZ Rate Statement

Currencies

■USD/JPY The yen declined versus most of its major counterparts as Asian stocks rose for a second day, spurring investors to buy higher-yielding assets amid expectations Japan will expand monetary stimulus.
The yen slid 0.2 percent to 90.92 per dollar as of 2:39
p.m. in Tokyo. It lost 0.2 percent to 122.62 per euro. The
dollar traded at $1.3487, little changed from yesterday, when it
touched $1.3497, the lowest level since Dec. 2, 2011.

■GBP/USD The pound strengthened from a five- month low against the dollar after Bank of England policy maker David Miles said U.K. economic growth is likely to improve to between 2 percent and 2.5 percent a year within 18 months.
The pound appreciated 0.3 percent to $1.5741 at 4:30 p.m.
London time after dropping to $1.5675 yesterday, the lowest
level since Aug. 17. The U.K. currency gained 0.2 percent to
85.56 pence per euro after declining to 85.87 pence yesterday,
the weakest since December 2011.

■USD/CAD The Canadian dollar posted its
biggest gains against its U.S. counterpart in almost a month
after four straight days of losses as the currency failed to
fall below a key technical level.
The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, rose 0.5 percent to
C$1.0009 per U.S. dollar at 5 p.m. in Toronto, it’s largest gain
since Jan. 2. It matched an almost six-month low yesterday and
last traded weaker than C$1.01 on July 27. One loonie buys 99.91
U.S. cents

Commodities

■Oil traded near the highest level in
four months before a Federal Reserve policy statement that may
signal the central bank will keep adding economic stimulus in
the U.S., the world’s biggest crude user.
WTI crude for March delivery was at $97.52 a barrel, down 5 cents, in electronic trading on the New York Mercantile Exchange at 1:25 p.m. Singapore time. The volume of all futures traded was 51 percent below the 100-day average. Futures rose to $97.57 yesterday, the highest since Sept. 14, and are up 6.2 percent in January.
Brent for March settlement rose 6 cents to $114.42 a barrel
on the London-based ICE Futures Europe exchange. The volume of
all futures traded was 25 percent below the 100-day average. The
European benchmark grade was at a premium of $16.77 to West
Texas Intermediate futures, from $16.79 yesterday.

■Gold headed for a fourth decline after data from the U.S. to China added to signs of a recovery, paring demand for haven assets. Palladium advanced to a 16-month high.
Gold gained 0.1 percent to $1,666.05 an ounce,
trimming January’s drop to 0.6 percent, the worst run since May.

Equities

■Asian stocks rose, with the benchmark index poised for is highest close since August 2011, as Japanese shares surged on earnings and amid speculation the Federal Reserve will renew its commitment to asset purchases.
The MSCI Asia Pacific Index gained 0.7 percent to 133.44 as
of 2:19 p.m. in Tokyo, with more than twice as many stocks
climbing as falling. The gauge is poised to advance for a third
month as Japanese shares rally on optimism Prime Minister Shinzo
Abe’s new government will add stimulus to fight deflation.

■European stocks rose to the highest
level in more than 23 months as companies reported earnings and
a report showed house prices in 20 U.S. cities increased.
The Stoxx Europe 600 Index added 0.3 percent to 290.3 at the close in London, the highest level since Feb. 18, 2011. The index has climbed 3.8 percent so far this year amid optimism about company earnings and as U.S. lawmakers agreed on a compromise budget to avoid automatic fiscal-reduction measures.

■U.S stocks advanced, sending the Dow Jones Industrial Average to a five-year high,
as companies including Pfizer Inc. and Valero Energy Corp. reported
earnings that beat estimates.
The Standard & Poor’s 500 Index rose 0.5 percent to 1,507.84 at 4
p.m. in New York. The Dow added 72.49 points, or 0.5 percent, to
13,954.42, the highest level since October 2007. About 6.9 billion
shares traded hands on U.S. exchanges today, or 12 percent above the
three-month average.

 

[acfx]

Daily Market Outlook

Posted by on January 31, 2013

Important Financial Indicators of the day Forecast Previous

CAD 15:30 (GMT) GDP m/m 0.2% 0.1%
USD 15:30 (GMT) Unemployment Claims 362K 330K

Currencies
■EUR/USD The euro may strengthen further against the dollar as the region’s economy exceeds forecasts, said Alan Ruskin, global head of Group of 10 foreign-exchange strategy at Deutsche Bank AG in New York.
The 17-nation euro gained 0.5 percent to $1.3553 per euro
at 9:45 a.m. New York time and topped $1.35 for first time since
December 2011. The 17-nation shared currency has strengthened
2.8 percent against the dollar this month.

■AUD/USD slid against most
of its 16 major counterparts as Asian stocks declined, sapping
demand for higher-yielding assets.
Australia’s dollar dropped 0.3 percent to $1.0390 as of
3:58 p.m. in Sydney and is little changed this month. New
Zealand’s currency, known as the kiwi, fell 0.1 percent to 83.50
U.S. cents, paring a monthly gain to 0.8 percent.

■USD/CAD traded close to a
six-month low versus its U.S. counterpart as data showed the
economy of the nation’s largest trading partner unexpectedly
shrank in the fourth quarter.
The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, was little changed at
C$1.0014 per U.S. dollar at 5 p.m. in Toronto after earlier
falling 0.4 percent to C$1.0053. One loonie buys 99.86 U.S.
cents. The currency touched C$1.01 on Jan. 28, the weakest level
since July 27.

Commodities
■Oil traded near the highest price in more than four months in New York as the Federal Reserve maintained an asset-purchase program to boost the economy of the world’s biggest crude-consuming nation.
Crude for March delivery was $97.92 a barrel, down 2 cent, in electronic trading on the New York Mercantile Exchange at 1:52 p.m. Singapore time. The average volume of all contracts traded was 59 percent below the 100-day average. Futures rose 37 cents to $97.94 yesterday, the highest close since Sept. 14. Prices are up 6.7 percent in January and poised for a third monthly gain, the longest run since April 2011.
Brent for March settlement climbed 21 cents to $115.11 a
barrel on the London-based ICE Futures Europe exchange. The
average volume of all contracts traded was 33 percent below the
100-day average. The European benchmark grade was at a premium
of $17.16 to West Texas Intermediate futures, from $16.96
yesterday.

■Gold climbed for a third day toward
a one-week high after data showed that the U.S. economy
unexpectedly shrank and the Federal Reserve maintained asset
purchases. Platinum headed for the best month in a year.
Spot gold gained as much as 0.2 percent to $1,680.80 an ounce, and traded at $1,679.55 at 1:13 p.m. in Singapore. Bullion climbed as much as 1.2 percent yesterday to $1,683.28, the highest price since Jan 24. The metal is poised to snap three months of losses. Platinum, the best-performing precious metal this year, has jumped 9.4 percent this month in the biggest advance since January 2012.

Equities
■Asian stocks swung between gains and losses on the busiest day of Japan’s earnings season, after the country’s industrial production missed estimates and U.S. growth unexpectedly stalled. Kawasaki Heavy Industries Ltd. (7012) jumped after raising its profit forecast.
The MSCI Asia Pacific Index rose less than 0.1 percent to 133.33 as of 3:01 p.m. in Tokyo, after falling as much as 0.4 percent. About an equal number of stocks declined as gained. Japan’s Nikkei 225 Stock Average (NKY) climbed 0.2 percent, reversing earlier losses in the last 17 minutes of trading.

■European stocks dropped the most this year as Saipem (SPM) SpA plunged and a report showed that the U.S. economy unexpectedly contracted in the fourth quarter.
The Stoxx Europe 600 Index lost 0.6 percent to 288.63 in London, falling from its highest level since Feb. 18, 2011. The gauge has still jumped 3.2 percent in January, heading for its longest streak of monthly gains since 1997.

■U.S stocks fell, dragging benchmark indexes from five-year highs, as the Federal Reserve said it will maintain its program to buy securities after the economy unexpectedly shrank in the fourth quarter.
The S&P 500 fell 0.4 percent to 1,501.96 at 4 p.m. in New York. The Dow Jones Industrial Average lost 44 points, or 0.3 percent, to 13,910.42. Both measures yesterday reached their highest levels since 2007. The Russell 2000 Index slid 1.2 percent, falling from yesterday’s record high. About 6.8 billion shares traded hands on U.S. exchanges today, or 9.5 percent above the three-month average

 

[acfx]

Daily Market Outlook

Posted by on February 1, 2013

Important Financial Indicators of the day Forecast Previous

GBP 11:30 (GMT) Manufacturing PMI 51.0 51.4
USD 15:30 (GMT) Non farm Employement Change 161K 155K
USD 15:30 (GMT) Unemployement Rate 7.8% 7.8%
USD 17:00 (GMT) ISM Manufacturing PMI 50.8 50.7

Currencies
■AUD/USD The Australian dollar fell, erasing
earlier gains, after growth in Chinese manufacturing trailed
economists’ estimates, damping trade prospects.
Australia’s dollar declined 0.3 percent to $1.0392 at 4:27
p.m. in Sydney, after rising as much as 0.2 percent. The so-
called Aussie bought 95.78 yen and touched 95.84, the highest
since August 2008. Australia’s currency dropped to NZ$1.2350,
the lowest since August 2011, before trading at NZ$1.2352, 0.6
percent below yesterday’s close.

■USD/JPY The yen fell to its lowest in 2 1/2 years against the dollar and euro amid speculation Prime Minister Shinzo Abe is nearing selection of a new Bank of Japan (8301) governor who will boost monetary stimulus to spur inflation.
The yen sank 0.5 percent to 92.20 per dollar as of 1:52 p.m. in Tokyo, after earlier touching 92.27, the weakest since June 2010. It slid to 125.72 per euro, the least since May 2010, before trading at 125.59, 0.8 percent lower than yesterday’s close.

■USD/CAD The Canadian dollar was worth more
than its U.S. counterpart for the first time in a week after a
government report showed the economy grew faster than forecast
in November.
The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, rose 0.4 percent to 99.72
cents per U.S. dollar at 5:02 p.m. in Toronto. The last time it
closed stronger than parity was Jan. 23. One loonie buys
$1.0028.

Commodities
■Oil headed for the longest run of weekly gains in more than eight years in New York before a report that may show the U.S. added jobs last month, signaling an economic recovery in the world’s biggest crude consumer.
Crude for March delivery was at $97.52 a barrel, up 3 cents, in electronic trading on the New York Mercantile Exchange at 12:51 p.m. Singapore time. The volume of all contracts traded was in line with the 100-day average. Futures slid 45 cents to $97.49 yesterday. Prices are up 1.7 percent this week.
Brent for March settlement climbed 27 cents to $115.82 a barrel on the London-based ICE Futures Europe exchange yesterday. The volume of all contracts traded was 35 percent above the 100-day average. The European benchmark grade was at a premium of $18.30 to WTI futures, up from $18.06 yesterday.

■Gold extended the longest run of
monthly losses since May before a report that may show U.S.
employers added jobs last month, reducing the appeal of bullion
as a haven. Platinum was set to snap four weeks of gains.
Spot gold fell as much as 0.2 percent to $1,660.45 an
ounce, and traded at $1,661.45 at 1:30 p.m. in Singapore,
dropping for a second day. Gold retreated 0.7 percent in January
for a fourth monthly drop. Platinum, down 1.2 percent this week,
fell after a 9 percent gain last month that was the best showing
in a year.

Equities
■Asian stocks swung between gains and losses, with the regional benchmark index paring a weekly advance, after a gauge of China’s manufacturing unexpectedly fell. Japanese shares advanced on earnings and a weaker yen
The MSCI Asia Pacific Index slid 0.2 percent to 132.99 as
of 1:37 p.m. in Tokyo after rising as much as 0.3 percent. About
five stocks climbed for every four that slid. The measure is
headed for a 1 percent advance this week and is trading near the
highest since August 2011. Shares pared losses after a separate
report focusing on smaller manufacturers signaled growth.

■European stocks fell for a second day, paring their biggest monthly advance since July, as companies from AstraZeneca Plc to Banco Santander SA (SAN) slid after reporting earnings
The Stoxx Europe 600 Index (SXXP) retreated 0.5 percent to 287.22 at the close, as more than two stocks fell for every one that rose. The equity benchmark has still advanced 2.7 percent in January, its eighth month of gains and its longest winning streak since 1997.

■U.S stocks fell, trimming the best January rally for the Dow Jones Industrial Average since 1994, on disappointing earnings as investors weighed economic data ahead of tomorrow’s jobs report.
The Standard & Poor’s 500 Index fell 0.3 percent to 1,498.11 at 4 p.m. in New York. The Dow lost 49.84 points, or 0.4 percent, to 13,860.58. About 7.1 billion shares traded hands on U.S. exchanges today, or 16 percent above the three-month average.

 

[acfx]

Daily Market Outlook

Posted by on February 5, 2013

Important Financial Indicators of the day Forecast Previous

GBP 11:30 (GMT) Services PMI 49.8 48.9
USD 17:00 (GMT) ISM Non-Manufacturing PMI 55.2 56.1

Currencies

■EUR/USD The euro fell against the yen,
following yesterday’s drop which was the biggest since June,
amid corruption allegations against Spanish Premier Mariano
Rajoy and uncertainty ahead of Italian elections this month.

The euro fell 0.2 percent to 124.59 yen as of 1:58 p.m. in
Tokyo from yesterday, when it dropped 1.4 percent, the most
since June 25. It declined 0.2 percent to $1.3488. The yen was
little changed at 92.37 per dollar after yesterday falling as
low as 93.18, the weakest since May 13, 2010.

■AUD/USD Australia’s dollar fell against all of its major peers, erasing earlier gains, after the central bank signaled it’s prepared to cut interest rates to a record- low this year after holding them unchanged today.

The Aussie fell 0.3 percent to $1.0404 at 4:50 p.m. in Sydney from yesterday, after earlier climbing as much as 0.2 percent. It declined 0.3 percent to 96.12 yen, after touching 97.08 in New York, the highest since August 2008. New Zealand’s kiwi dollar slid 0.1 percent to 84.20 U.S. cents from yesterday. It was down 0.1 percent at 77.80 yen.

■GBP/USD The pound appreciated from the weakest level in 15 months against the euro as political turmoil pressured Spanish and Italian government bonds and boosted the relative appeal of Britain’s currency.

The pound strengthened 1.1 percent to 85.98 pence per euro
at 4:49 p.m. London time after depreciating to 87.17 pence on
Feb. 1, the weakest since Oct. 31, 2011. Sterling advanced 0.3
percent to $1.5746 after declining 0.7 percent last week

Commodities

■Oil traded near the lowest level in more than a week in New York, after sliding the most in two months, before a report that may show rising stockpiles in the U.S., the world’s biggest crude consumer.

Crude for March delivery was at $96.11 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 1:44 p.m. Singapore time. The volume of all futures traded was 57 percent above the 100-day average. The contract slid $1.60 yesterday to $96.17, the lowest close since Jan. 25 and the biggest decrease since Dec. 6. that may show rising stockpiles in the U.S., the world’s biggest crude consumer.

Brent for March settlement declined 40 cents to $115.20 a
barrel on the London-based ICE Futures Europe exchange. The
volume of all futures traded was 68 percent above the 100-day
average. The European benchmark grade was at a premium of $19.10
to West Texas Intermediate futures, from $19.43 yesterday.

Equities

■Asian stocks fell, dragging the
regional benchmark equities index down from an 18-month high,
amid renewed concern about Europe’s debt crisis.

The MSCI Asia Pacific Index (MXAP) slid 0.7 percent to 132.72 as of 11:38 a.m. in Hong Kong, with almost four stocks falling for each that rose

■European stocks U.K. stocks tumbled the most in almost three months as Vodafone Group Plc retreated and Spanish and Italian bonds declined amid political uncertainty in both Mediterranean countries.

The FTSE 100 lost 100.4 points, or 1.6 percent, to 6,246.84 at the close in London, its biggest drop since Nov. 7. The equity benchmark has still gained 5.9 percent in 2013, its best start to a year since 1998, as U.S. lawmakers agreed on a compromise budget. The broader FTSE All-Share Index retreated 1.5 percent today, while Ireland’s ISEQ Index lost 1 percent.

■U.S stocks fell, driving the Standard & Poor’s 500 Index to its biggest decline since November, on concern that the European debt crisis may intensify.

The S&P 500 slipped 1.2 percent, the most since Nov. 14, to 1,495.71 in New York, after reaching a five-year high last week. The Dow (INDU) Jones Industrial Average lost 129.71 points, or 0.9 percent, to 13,880.08. More than 6.3 billion shares traded handed on U.S. exchanges today, in line with the three-month average.

 

[acfx]

Daily Market Outlook from ACFX 08/09/2013


Important Financial Indicators of the day

CAD - 15:30 (GMT) - Employment Change
Forecast 6.2K
Previous -0.4K

CAD - 15:30 (GMT) - Unemployment Rate
Forecast 7.1%
Previous7.1%



Currencies

•EUR/USD The dollar is poised to drop against most of its major peers this week before Chinese data that will probably add to signs of stabilization in the Asian economy, buoying demand for higher-yielding assets. •The euro was little changed from yesterday at $1.3384 and set for a 0.8 percent weekly gain. It yesterday reached $1.34, the strongest level since June 19. The shared currency dropped 0.2 percent to 129.06 yen, set for a 1.7 percent decline since Aug. 2. The dollar slid 0.3 percent to 96.43 yen, heading for a 2.5 percent weekly loss, the most since the middle of June

•GBP/USD The pound strengthened to a seven-week high against the dollar after Bank of England Governor Mark Carney reiterated policy makers’ commitment to bring down inflation, fueling speculation interest rates will rise. •The pound advanced 0.4 percent to $1.5550 at 4:32 p.m. London time after rising to $1.5574, the highest level since June 19. Sterling was little changed at 86.10 pence per euro after advancing to 85.79 pence yesterday, the strongest since July 10.

•USD/CAD Canada’s dollar strengthened the most in almost a month after improved trade data from China and Germany added to signs the global economy is recovering, fueling speculation demand for the nation’s commodities will increase.

•Canada’s currency, nicknamed the loonie for the image of the bird on the C$1 coin, appreciated 0.9 percent, the most on a closing basis since July 11, to C$1.0328 per U.S. dollar at 5 p.m. in Toronto. It gained as much as 1.1 percent to C$1.0304, the strongest level since Aug. 1, after sliding yesterday to C$1.0445, the weakest since July 11. One Canadian dollar purchases 96.82 U.S. cents



Commodities

•Oil West Texas Intermediate crude rose for the first time in six days, trimming a weekly decline before government data forecast to show that retail sales climbed last month in China, the second-biggest oil consumer.

•WTI for September delivery advanced as much as 96 cents to $104.36 a barrel in electronic trading on the New York Mercantile Exchange and was at $104.25 at 1:16 p.m. Sydney time. The volume of all futures traded was 26 percent below the 100-day average. The contract fell 97 cents to $103.40 yesterday. Prices are down 2.5 percent this week.

•Brent for September settlement rose as much as 52 cents to $107.07 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $2.87 to WTI futures, down from $3.28 yesterday.

•Gold traded near its highest in four days after climbing the most in more than two weeks yesterday as investors weighed speculation the Federal Reserve will pare bond purchases. Platinum rose to the highest in two months.

•Bullion for immediate delivery added as much as 0.3 percent to $1,317.10 an ounce and was at $1,314.74 by 10:59 a.m. in Singapore. Prices rose 2 percent yesterday, the most since July 22, and are set to gain 0.2 percent this week. Gold for December increased 0.3 percent at $1,313.90 on the Comex in New York.


Equities
•Asian stocks index is on course to snap its longest weekly winning streak since January after Nikon Corp. (7731) cut its profit forecast and as investors await Chinese industrial production data.

•The MSCI Asia Pacific Index slid 0.2 percent to 133.56 as of 12:48 p.m. in Tokyo, with four stocks falling for every three that rose. The gauge is headed for a 1.5 percent decline this week, ending six weeks of gains. That was the longest run of weekly gains since the first week of this year.

•U.S stocks rose, with the Standard & Poor’s 500 Index halting a three-day drop, as Chinese trade data topped estimates and jobless claims fell to the lowest monthly rate since before the recession.

•The S&P 500 climbed 0.4 percent to 1,697.48 at 4 p.m. in New York, paring the index’s weekly drop to 0.7 percent. The Dow Jones Industrial Average gained 27.65 points, or 0.2 percent, to 15,498.32. About 5.9 billion shares changed hands on U.S. exchanges, 6.9 percent below the three-month average

 

[acfx]

Daily Market Outlook from ACFX 08/12/2013


Important Financial Indicators of the day

JPY - 02:50 (GMT) - Prelim GDP q/q

Forecast 0.9%

Previous 1.0%



Currencies

•EUR/USD The Dollar Index climbed for a second day before U.S. data forecast to show retail sales rose a fourth-straight month, adding to the case for the Federal Reserve to reduce monetary stimulus.•The greenback rose 0.3 percent to 96.51 yen, after dropping to 95.81 on Aug. 8, the lowest since June 19. It added 0.1 percent to $1.3325 per euro. Europe’s shared currency rallied 0.2 percent to 128.60 yen after earlier reaching 127.98, the weakest since June 27.

•NZD/USD New Zealand’s two-year swap rate was near the highest since 2011 after a private report showed housing prices remained close to an all-time high in the South Pacific nation. •New Zealand’s currency was little changed at 80.31 U.S. cents, while the Aussie fell 0.2 percent to 91.86 U.S. cents. The kiwi climbed 2.6 percent and the Aussie jumped 3.4 percent last week, the biggest gain for both currencies since December 2011.


Commodities

•Oil West Texas Intermediate crude swung between gains and losses after the biggest rally in more than a week as hedge funds cut bullish bets. •WTI for September delivery was at $106.07 a barrel in electronic trading on the New York Mercantile Exchange, up 10 cents at 2:40 p.m. Singapore time. The contract advanced $2.57 to settle at $105.97 on Aug. 9. The volume of all futures traded was 13 percent below the 100-day average. Prices fell 0.9 percent last week.
•Brent for September settlement slid 14 cents to $108.08 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $2.02 to WTI contracts. The spread narrowed on Aug. 9 for the first time in six days to $2.25

•Gold climbed to the highest level this month after holdings in the biggest bullion-backed exchange-traded product expanded for the first time since June. Platinum advanced for a fourth day to a two-month high. •Bullion for immediate delivery rallied as much as 1.5 percent to $1,333.94 an ounce, the highest price since July 31, and traded at $1,331.69 at 2:05 p.m. in Singapore. Gold for December delivery climbed as much as 1.6 percent to $1,333 an ounce on the Comex in New York and was at $1,330.40.



Equities

•Asian stocks outside Japan rose as Chinese property developers and commodities companies climbed. Japanese shares fell after growth in the world’s third-largest economy slowed more than forecast.

•The MSCI Asia Pacific excluding Japan Index advanced 1 percent to 444.77 as of 2:30 p.m. in Hong Kong. All 10 groups on the gauge rose. More than two stocks climbed for each that dropped. China’s Shanghai Composite Index (SHCOMP), now at the cheapest valuation of the world’s top 10 stock markets, added 2 percent, on course for the highest closing level in two months

•European stocks have risen half as much as global benchmarks this year, leaving them cheaper than equities in the U.S. and Asia as the region’s economy starts to recover from the longest recession on record.
•After a 7.2 percent gain in 2013, the Euro Stoxx 50 Index (SX5E) trades at 12.5 times projected earnings, 6.7 percent less than in 2009, the last time the euro area was in the final quarter of a contraction, data compiled by Bloomberg show. In the U.S., where the economy is in its 10th straight quarter of growth, the Standard & Poor’s 500 Index is valued at 15.3 times estimated profit and Japan’s Topix trades at 14.2 times income after Prime Minister Shinzo Abe vowed to end two decades of deflation.

•U.S stocks fell for the week, with benchmark indexes posting the worst losses since June, as better-than-estimated data on trade and service industries fueled concern the Federal Reserve may reduce its stimulus.
•The Standard & Poor’s 500 Index dropped 1.1 percent to 1,691.42. The Dow Jones Industrial Average slid 232.85 points, or 1.5 percent, to 15,425.51. Both gauges capped their worst week since June 21 after closing at records on Aug. 2.

 

[acfx]

Daily Market Outlook from ACFX 08/13/2013

Daily Market Outlook from ACFX 08/13/2013

Important Financial Indicators of the day

GBP - 11:30 (GMT) - CPI y/y - Forecast 2.8% - Previous 2.9%
EUR - 12:00 (GMT) - German ZEW Economic Sentiment - Forecast 40.3 - Previous 36.3
USD - 15:30 (GMT) - Core Retail Sales m/m - Forecast 0.4% - Previous 0.0%
USD - 15:30 (GMT) - Retail Sales m/m - Forecast 0.2% - Previous 0.4%


Currencies

EUR/USD The dollar touched the highest in
almost a week versus the yen before a report today that may show
U.S. retail sales climbed for a fourth month.

The dollar rose 0.4 percent to 97.30 yen as of 1 p.m. in
Tokyo after earlier touching 97.44, the strongest since Aug. 7.
It fetched $1.3310 per euro, down 0.1 percent from yesterday.
Japan’s currency slid 0.5 percent to 129.49 per euro.

AUD/USD Australia’s dollar fell for a second
day before U.S. data that may show retail sales climbed, adding
to the case for the Federal Reserve to taper monetary stimulus
that tends to weaken the greenback.

Australia’s currency lost 0.4 percent to 91.14 U.S. cents
as of 10:07 a.m. in Sydney from yesterday. The kiwi dollar
dropped 0.5 percent to 79.76 U.S. cents. It posted a 2.6 percent
weekly gain on Aug. 9, the most since December 2011

USD/CAD Canada’s dollar declined for the
first time in three days after it failed to breach a key
technical level, a move that might have signaled gains beyond a
one-week high it reached last week, spurring speculation the
currency’s run of strength is at an end.

Canada’s currency depreciated 0.2 percent to C$1.0307 per
U.S. dollar at 5 p.m. in Toronto after gaining earlier to
C$1.0281. Its 100-day moving average is C$1.0279. It touched
C$1.0276 on Aug. 9, the strongest level since Aug. 1. One
Canadian dollar buys 97.02 U.S. cents.


Commodities

Oil West Texas Intermediate crude traded
near the highest price in five days amid speculation that U.S.
stockpiles fell for the sixth time in seven weeks as summer
driving buoyed demand.

WTI for September delivery was at $106.18 a barrel in
electronic trading on the New York Mercantile Exchange, up 7
cents at 12:20 p.m. Singapore time. The volume of all futures
traded was 34 percent below the 100-day average. Prices have
climbed 16 percent this year.

Brent for September settlement gained 2 cents to $108.99 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $2.83 to WTI, from $2.86 yesterday.

Gold snapped a four-day advance as a
rally to the highest level in almost three weeks damped demand
and prompted some investors to sell. Silver declined.

Spot gold fell as much as 0.6 percent to $1,330.35 an ounce
and was at $1,336.55 at 11:57 a.m. in Singapore. Bullion climbed
4.3 percent in the four days through yesterday, when it touched
$1,344.40, the highest price since July 24.


Equities

Asian stocksrose for a fourth day, with Japanese shares gaining after the yen weakened as a report showed machinery orders beat estimates and amid a report Prime Minister Shinzo Abe is considering a corporate-tax cut.

The MSCI Asia Pacific Index added 0.5 percent to 134.81 as of 11:39 a.m. in Hong Kong, with about three shares rising for each that fell. Nine of the 10 industry groups increased on the gauge, which is headed for its longest winning streak in six weeks.

European stocks closed little
changed at a 10-week high as a rally in mining companies offset
slower-than-forecast economic growth in Japan.

The Stoxx Europe 600 Index increased less than 0.1 percent to 306.08 at the close of trading, having earlier risen as much as 0.2 percent ad declined 0.6 percent. The benchmark gauge added 0.6 percent last week as better-than-forecast economic data in Europe and China outweighed concern that the Federal Reserve will reduce the pace of its bond-purchase program. The measure has rallied 9.4 percent .

U.S stocks fell, giving the Standard & Poor’s 500 Index to its fifth drop in
six sessions, as data showed a slowdown in Japan’s economic growth and
investors awaited tomorrow’s report on America’s retail sales.

The S&P 500 fell 0.1 percent to 1,689.47 at 4 p.m. in New York, extending its loss from a record high to 1.2 percent. The Dow Jones Industrial Average declined 5.83 points, or less than 0.1 percent, to 15,419.68. About 5 billion shares changed hands on U.S. exchanges, 20 percent below the three-month average.

 

[acfx]

Daily Market Outlook 08/16/2013

Daily Market Outlook 08/16/2013

Important Financial Indicators of the day


CAD - 15:30 (GMT) - Manufacturing Sales m/m - Forecast 0.5% - Previous 0.7%
USD - 15:30 (GMT) - Building Permits - Forecast 0.95M - Previous 0.92M
USD - 16:55 (GMT) - Prelim UoM Consumer Sentiment - Forecast 85.6 - Previous 85.1


Currencies

EUR/USD The dollar headed for its biggest weekly advance in a month against the yen before U.S. reports that economists said will show housing starts and consumer confidence improved.

The dollar was little changed at 97.35 yen at 8:36 a.m. in
London, having risen 1.2 percent this week, the most since the
period ended July 19. The U.S. currency was also little changed
at $1.3348 per euro. The yen traded at 129.92 per euro from
129.97 yesterday.

GBP/USD The pound headed for a second
weekly gain versus the dollar and the euro after data added
to signs the U.K. economy is strengthening.

The pound slid 0.1 percent to $1.5626 at 7:39 a.m. London
time after appreciating to $1.5652 yesterday, the highest since
June 19. It has gained 0.8 percent this week. The U.K. currency
was little changed at 85.35 pence per euro after reaching 85.05
pence yesterday, the strongest since July 3. It has appreciated
0.8 percent since Aug. 9.

USD/CAD Canada’s dollar gained the most this week as speculation the Federal Reserve will begin slowing stimulus as soon as September weighed on demand for assets denominated in the U.S. currency.

The loonie, as Canada’s currency is nicknamed for the image
of the aquatic bird on the C$1 coin, appreciated 0.4 percent,
the most on a closing basis since Aug. 9, to C$1.0306 per U.S.
dollar at 5 p.m. in Toronto. It declined earlier to C$1.0364
after touching C$1.0370 yesterday, the weakest since Aug. 8. One
loonie buys 97.03 U.S. cents



Commodities

Oil West Texas Intermediate crude traded
near the highest price in two weeks as an escalating conflict in
Egypt fanned concern that oil shipments through the country may
be disrupted.

WTI for September delivery was at $107.39 a barrel in electronic trading on the New York Mercantile Exchange, up 6 cents at 3 p.m. Singapore time. The volume of all futures traded was 26 percent below the 100-day average. The contract ended yesterday’s session at $107.33, the highest close since Aug. 1. Prices have advanced 1.3 percent this week.

Brent for October settlement increased 3 cents to $109.63 a
barrel on the London-based ICE Futures Europe exchange. The
September contract expired yesterday after climbing 91 cents to
$111.11, the highest since March 7. The front-month European
benchmark crude was at a premium of $2.54 to WTI futures. The
spread widened for a fourth day yesterday to $3.78.

Gold traded near a two-month high,
set for the best week in five, on signs of increased physical
demand and as sales from exchange-traded products slowed. Silver
was set for the best week since October 2011.

Spot gold rose as much as 0.5 percent to $1,372.97 an ounce,
the highest since June 19, and traded at $1,364.55 at 2:05 p.m.
in Singapore. Silver was little changed at $23.01 an ounce after
yesterday rising more than 20 percent from a 34-month low on
June 27 to meet the common definition of a bull market.



Equities

Asian stocks fell as investors shied away from riskier assets after an unexpected drop in U.S. jobless claims fueled speculation the Federal Reserve will cut stimulus next month. Chinese shares reversed the biggest intraday surge since March 2009.

The MSCI Asia Pacific Index slid 0.5 percent to 134.23 as of 2:20 p.m. in Hong Kong, with all 10 industry groups on the gauge retreating. More than two shares dropped for each that rose. The measure is on course for a 0.2 percent gain this week.

European stocks were little changed,
after the Stoxx Europe 600 Index dropped the most in more than
five weeks yesterday, as investors awaited reports on the U.S.
housing market. U.S. futures rose, while Asian shares fell.

The Stoxx 600 slipped 0.2 percent to 304.85 at 8:38 a.m. in London, extending its decline this week to 0.3 percent. Standard & Poor’s 500 Index futures added 0.3 percent, while the MSCI Asia Pacific Index retreated 0.2 percent.

U.S stocks fell the most since June as forecasts from Cisco Systems Inc. and Wal-Mart Stores Inc. disappointed while improving economic data pushed bond yields higher amid concern the Federal Reserve will reduce stimulus. The Standard & Poor’s 500 Index slipped 1.4 percent, the most since June 20, to 1,661.32 at 4 p.m. in New York. The Dow Jones Industrial Average dropped 225.47 points, or 1.5 percent, to 15,112.19, the lowest level since July 3. About 6.6 billion shares exchanged hands on U.S. exchanges today, 4.5 percent above the three-month average. Treasury yields rose to the highest levels in two years.

 

[acfx]

Daily Market Outlook from ACFX 08/19/2013


Currencies

EUR/USD The euro was 0.4 percent from a one-week high against its U.S. peer before German data this week
that analysts predict may show the currency bloc’s largest
economy is gaining momentum

The euro bought $1.3324 as of 1:28 p.m. in Tokyo from $1.3329 at the end of last week, when it touched $1.3380, the strongest level since Aug. 9. The currency was little changed at 130.01 yen. The dollar added 0.1 percent to 97.58 yen, after earlier strengthening as much as 0.3 percent.

AUD/USD Australia’s dollar rose to a three-week high on speculation minutes tomorrow of the Reserve Bank’s meeting this month will signal the central bank is in no hurry to cut interest rates.

The Australian currency gained 0.3 percent to 92.15 U.S.
cents as of 2:30 p.m. in Sydney from Aug. 16, after touching
92.33, the highest since July 29. New Zealand’s dollar gained
0.2 percent to 81.20 U.S. cents, after touching 81.29, the
strongest since June 14.




Commodities

Oil West Texas Intermediate oil swung between gains and losses near a two-week high. Goldman Sachs Group Inc. raised its price forecasts for Brent, citing supply disruptions in Libya and Iraq.

WTI for September delivery, which expires tomorrow, climbed 9 cents to $107.55 a barrel in electronic trading on the New York Mercantile Exchange at 12:20 p.m. Singapore time. The volume of all futures traded was about 3 percent above the 100-day average. The contract ended the session at $107.46 on Aug. 16, the highest close since Aug. 1. The more active October future was up 7 cents at $107.36.

Brent for October settlement increased 8 cents to $110.48 a
barrel on the London-based ICE Futures Europe exchange. It was
at a premium of $3.12 to WTI. The spread narrowed for the first
time in a week on Aug. 16 to $3.11.

Gold rose to a two-month high after
holdings in the largest exchange-traded product posted the first
weekly expansion this year. Silver headed for the longest rally
since March 2008.

Spot gold gained as much as 0.6 percent to $1,384.55 an ounce, the highest since June 18, and traded at $1,382.45 at 10:05 a.m. in Singapore. Silver added 1.6 percent to $23.6225 an ounce, the highest since May 14, after entering a bull market last week



Equities

Asian stocks fell for a third day as a retreat in emerging markets dragged the
regional benchmark gauge to its lowest level in a week. Japan’s
Topix index swung from losses to gains amid low trading volumes.

The MSCI Asia Pacific excluding Japan Index fell 0.5 percent to 444.56 as of 12:30 p.m. in Hong Kong. Seven of the 10 industry groups on the gauge dropped. The measure has lagged an increase in U.S. stocks this year as growth slows in China and speculation that the Federal Reserve will curb U.S. bond buying spurred investors to sell assets perceived as riskier across Asia and emerging markets. The Federal Open Market Committee’s July meeting minutes are scheduled to be released on Aug. 21.

European stocks advanced for a third straight week as data showing the euro area emerged from the longest recession on record outweighed speculation the Federal Reserve will trim monetary stimulus.

The benchmark Stoxx Europe 600 Index increased 0.1 percent to 306.36 this past week, extending its 2013 advance to 9.5 percent. The Euro Stoxx 50 Index added 1 percent for a sixth week of gains. Gross domestic product in the 17-nation euro area expanded 0.3 percent in the second quarter after a six straight periods of contraction

U.S stocks Investors are favoring U.S. stocks over emerging markets by the most
ever as fund flows and volatility measures show institutions are
increasingly seeking the relative safety of American equities.

The S&P 500 slid 2.1 percent to 1,655.83 last week, paring its gain
this year to 16 percent, as data on rising retail sales, subdued
inflation and a drop in jobless claims fueled speculation the Fed will
cut monetary stimulus, known as quantitative easing. The central bank
will probably reduce the $85 billion in monthly bond purchases next
month

 

[acfx]

Daily Market Outlook from ACFX 08/21/2013


Important Financial Indicators of the day


USD - 17:00 (GMT) - Existing Home Sales - Forecast 5.15M - Previous 5.08M
USD - 21:00 (GMT) - FOMC Meeting Minutes


Currencies

EUR/USD The dollar rose versus its Asia-Pacific counterparts as investors await the release today of
minutes from the Federal Reserve’s last meeting for signals on
when it may curtail monetary stimulus.

The euro bought $1.3422 from $1.3417 yesterday, when it
reached $1.3452, the highest since Feb. 14. It was little
changed at 130.52 yen.

GBP/USD The British pound is reversing its
best monthly gain in a year against the Swiss franc as trading
patterns suggest its rise was too much, too soon.

The pound has climbed 2.8 percent in August versus a basket of 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes, the biggest monthly gain since September 2011, as unemployment requests dropped more in July than economists forecast. Sterling bears view the data strength as temporary with the Bank of England remaining prepared to loosen monetary policy.

USD/CAD The Canadian dollar fell to the lowest in almost two weeks as oil, the nation’s biggest export, slid amid bets the Federal Reserve will slow monetary stimulus that has fueled demand for riskier assets as soon as next month. The loonie, as Canada’s currency is nicknamed for the image of the aquatic bird on the C$1 coin, depreciated for a third day, losing 0.5 percent to C$1.0392 per U.S. dollar at 5 p.m. in Toronto. It touched C$1.0401, the weakest level since Aug. 8. One Canadian dollar buys 96.23 U.S. cents.



Commodities

Oil West Texas Intermediate crude swung
between gains and losses after declining the most in two months
yesterday amid speculation the Federal Reserve will taper
economic stimulus. Industry data showed U.S. supplies fell.

WTI for October delivery was at $104.90 a barrel, down 21
cents, in electronic trading on the New York Mercantile Exchange
at 12:35 p.m. Singapore time. The volume of all futures traded
was about 29 percent below the 100-day average. The September
contract expired at $104.96 yesterday after losing 2 percent,
the most since June 20.

Brent for October settlement slid 35 cents to $109.80 a
barrel on the London-based ICE Futures Europe exchange. The
European benchmark crude was at a premium of $4.90 to WTI. The
spread was $5.04 yesterday, the widest since June 28.

Gold fluctuated between gains and
losses before the U.S. Federal Reserve releases minutes from its
last meeting, which may provide clues on whether the pace of
stimulus will be slowed amid signs of increased bullion demand.

Spot gold gained and fell at least 0.3 percent, and was up
45 cents at $1,371.62 an ounce at 11:30 a.m. in Singapore.
Prices rose to a two-month high of $1,384.55 on Aug. 19. Assets
in the biggest exchange-traded product expanded for the fourth
time this month, while the volume for Shanghai’s benchmark spot
contract climbed to the highest in more than two weeks.



Equities

Asian stocks index fell for a fifth day to trade at the lowest level in six weeks before the release of minutes of the Federal Reserve’s July meeting.

The MSCI Asia Pacific Index dropped 0.7 percent to 130.68
as of 12:20 p.m. in Hong Kong, with all 10 industry groups on
the gauge falling. The measure fell 3.3 percent in the past four
days to the lowest closing level since July 9.

European stocks fell for a second day, following Asian shares lower, amid speculation the Federal Reserve will curb its bond-buying program as soon as next month. The Stoxx Europe 600 Index lost 0.8 percent to 302.25 at the close of trading, its lowest level since July 31. The equity benchmark has fallen 2.7 percent from its peak this year on May 22 as Fed Chairman Ben S. Bernanke said the U.S. central bank could pare stimulus measures if the economy improves in line with its forecasts.

U.S stocks rose, with the Standard & Poor’s 500 snapping a four-day losing
streak, as retailers’ results surpassed estimates and investors awaited
signals on stimulus measures from the Federal Reserve.

The S&P 500 rose 0.4 percent to 1,652.35 at 4 p.m. in New York. The
Dow Jones Industrial Average fell 7.75 points, or less than 0.1 percent,
to 15,002.99, erasing earlier gains of as much as 0.4 percent. Almost
5.3 billion shares changed hands on U.S. exchanges today, 16 percent
below the three-month average, as more than three stocks rose for each
that fell.

 

[acfx]

Daily Market Outlook from ACFX 08/22/2013

Daily Market Outlook from ACFX 08/22/2013


Important Financial Indicators of the day


EUR - 10:00 (GMT) - French Flash Manufacturing PMI - Forecast 50.4 - Previous 49.7
EUR - 10:30 (GMT) - German Flash Manufacturing PMI - Forecast -51.1 - Previous 50.7
USD - 15:30 (GMT) - Core Retail Sales m/m - Forecast 0.1% - Previous 1.2%
USD - 15:30 (GMT) - Unemployment Claims - Forecast329K - Previous 320K


Currencies

EUR/USD The dollar advanced versus most of
its major counterparts before housing and employment data that
may signal continued recovery in the U.S., boosting the case for
a reduction in central bank stimulus.

The dollar added 0.5 percent to 98.17 yen as of 1:31 p.m. in Tokyo. It gained 0.1 percent to $1.3340 per euro after climbing 0.5 percent yesterday. Europe’s shared currency bought 130.96 yen, 0.4 percent stronger than the close in New York

AUD/USD Australia’s dollar rallied against
all 16 major peers after a private report showed China’s
manufacturing expanded for the first time in four months,
boosting trade prospects.

Australia’s currency gained 0.3 percent to 89.93 U.S. cents
at 3:23 p.m. in Sydney after falling 2.4 percent in the previous
three sessions. The Aussie added 0.4 percent to NZ$1.1473 after
touching NZ$1.1483, the highest since Aug. 5. New Zealand’s
dollar was little changed at 78.43 U.S. cents.

USD/CAD The Canadian dollar dropped to a
six-week low after after Federal Reserve meeting minutes showed
officials in broad agreement to start tapering bond purchases
later this year.

The loonie, as Canada’s currency is nicknamed for the image
of the aquatic bird on the C$1 coin, depreciated 0.8 percent to
C$1.0474 per U.S. dollar at 5 p.m. in Toronto after touching
C$1.0483, the weakest level since July 10. One Canadian dollar
buys 95.48 U.S. cents.



Commodities

Oil West Texas Intermediate crude traded
near the lowest level in almost two weeks as signs that the U.S.
will taper economic stimulus this year raised speculation oil
demand may falter in the world’s biggest consumer.

WTI for October delivery was at $103.60 a barrel, down 25 cents, in electronic trading on the New York Mercantile Exchange at 9:54 a.m. Sydney time. The volume of all futures traded was about 67 percent below the 100-day average. The contract slid $1.26 to $103.85 yesterday, the lowest close since Aug. 8.

Brent for October settlement fell 34 cents, or 0.3 percent,
to $109.81 a barrel on the London-based ICE Futures Europe
exchange yesterday. The European benchmark crude ended the
session at a premium of $5.96 to WTI futures, the widest gap
since June 26.

Gold pared losses as investors weighed the minutes of the U.S. Federal Reserve’s last meeting, which reinforced expectations that stimulus will be tapered, against an unexpected increase in China’s manufacturing.

Spot gold fell as much as 0.8 percent to $1,355.30 an ounce,
before trading 0.2 percent lower at $1,364.49 at 10:40 a.m. in
Singapore. Prices fell 0.3 percent yesterday after the minutes
of the July meeting showed policy makers were comfortable with a
plan to start reducing bond buying later this year if the
economy improves, with a few saying tapering may be needed soon.



Equities

Asian stocks fell, with the regional
gauge close to wiping out all this year’s gains, as it heads for
its longest losing streak since November, after Federal Reserve
minutes showed officials support stimulus cuts this year.

The MSCI Asia Pacific Index dropped 0.9 percent to 129.45 as of 2:20 p.m. in Tokyo, less than 0.1 percent away from wiping out this year’s gains. About two stocks declined for each that rose as all 10 industry groups fell on the measure.

European stocks posted their longest losing streak in eight weeks amid speculation that the minutes of the Federal Reserve’s July meeting will give further details of when the central bank will slow its monthly bond purchases.

The Stoxx Europe 600 Index slipped 0.5 percent to 300.61 at the close of trading, extending its lowest level since July 31. The gauge has fallen 3.2 percent from this year’s high on May 22 as speculation mounted that the Fed will start to slow the pace of its quantitative-easing program next month.

U.S stocks fell, giving the Dow Jones Industrial Average its longest slump in 13 months, as minutes of the Federal Reserve’s July meeting showed officials support stimulus cuts this year if the economy improves.

The Standard & Poor’s 500 Index (SPX) lost 0.6 percent to 1,642.80 at 4 p.m. in New York, the lowest since July 8. The Dow dropped 105.44 points, or 0.7 percent, to 14,897.55. The measure retreated for a sixth day, the longest losing streak since July 2012. About 5.6 billion shares changed hands on U.S. exchanges today, 11 percent below the three-month average.

 

[acfx]

Daily Market Outlook from ACFX 08/23/2013

Daily Market Outlook from ACFX 08/23/2013



Important Financial Indicators of the day

Forecast

Previous

EUR - 10:00 (GMT) - French Flash Manufacturing PMI - Forecast 50.4 - Previous 49.7
EUR - 10:30 (GMT) - German Flash Manufacturing PMI - Forecast 51.1 - Previous 50.7
USD - 15:30 (GMT) - Core Retail Sales m/m - Forecast 0.1% - Previous 1.2%
USD - 15:30 (GMT) - Unemployment Claims - Forecast 329K - Previous 320K


Currencies

EUR/USD The dollar advanced versus most of
its major counterparts before housing and employment data that
may signal continued recovery in the U.S., boosting the case for
a reduction in central bank stimulus.

The dollar added 0.5 percent to 98.17 yen as of 1:31 p.m. in Tokyo.
It gained 0.1 percent to $1.3340 per euro after climbing 0.5 percent yesterday.
Europe’s shared currency bought 130.96 yen, 0.4 percent stronger than the close in New York

AUD/USD Australia’s dollar rallied against
all 16 major peers after a private report showed China’s
manufacturing expanded for the first time in four months,
boosting trade prospects.

Australia’s currency gained 0.3 percent to 89.93 U.S. cents
at 3:23 p.m. in Sydney after falling 2.4 percent in the previous
three sessions. The Aussie added 0.4 percent to NZ$1.1473 after
touching NZ$1.1483, the highest since Aug. 5. New Zealand’s
dollar was little changed at 78.43 U.S. cents.

USD/CAD The Canadian dollar dropped to a
six-week low after after Federal Reserve meeting minutes showed
officials in broad agreement to start tapering bond purchases
later this year.

The loonie, as Canada’s currency is nicknamed for the image
of the aquatic bird on the C$1 coin, depreciated 0.8 percent to
C$1.0474 per U.S. dollar at 5 p.m. in Toronto after touching
C$1.0483, the weakest level since July 10. One Canadian dollar
buys 95.48 U.S. cents.



Commodities

Oil West Texas Intermediate crude traded
near the lowest level in almost two weeks as signs that the U.S.
will taper economic stimulus this year raised speculation oil
demand may falter in the world’s biggest consumer.

WTI for October delivery was at $103.60 a barrel, down 25 cents,
in electronic trading on the New York Mercantile Exchange at 9:54 a.m. Sydney time.
The volume of all futures traded was about 67 percent below the 100-day average.
The contract slid $1.26 to $103.85 yesterday, the lowest close since Aug. 8.

Brent for October settlement fell 34 cents, or 0.3 percent,
to $109.81 a barrel on the London-based ICE Futures Europe
exchange yesterday. The European benchmark crude ended the
session at a premium of $5.96 to WTI futures, the widest gap
since June 26.

Gold pared losses as investors weighed the minutes of the U.S. Federal Reserve’s last meeting,
which reinforced expectations that stimulus will be tapered,
against an unexpected increase in China’s manufacturing.

Spot gold fell as much as 0.8 percent to $1,355.30 an ounce,
before trading 0.2 percent lower at $1,364.49 at 10:40 a.m.
in Singapore. Prices fell 0.3 percent yesterday after the minutes
of the July meeting showed policy makers were comfortable with a
plan to start reducing bond buying later this year if the
economy improves, with a few saying tapering may be needed soon.


Equities

Asian stocks fell, with the regional
gauge close to wiping out all this year’s gains, as it heads for
its longest losing streak since November, after Federal Reserve
minutes showed officials support stimulus cuts this year.

The MSCI Asia Pacific Index dropped 0.9 percent to 129.45 as of 2:20 p.m. in Tokyo,
less than 0.1 percent away from wiping out this year’s gains.
About two stocks declined for each that rose as all 10 industry groups fell on the measure.

European stocks posted their longest losing streak in eight weeks amid speculation
that the minutes of the Federal Reserve’s July meeting will give further details of when
the central bank will slow its monthly bond purchases.

The Stoxx Europe 600 Index slipped 0.5 percent to 300.61 at the close of trading,
extending its lowest level since July 31. The gauge has fallen 3.2 percent from
this year’s high on May 22 as speculation mounted that the Fed will start to slow
the pace of its quantitative-easing program next month.

U.S stocks fell, giving the Dow Jones Industrial Average its longest slump in 13 months,
as minutes of the Federal Reserve’s July meeting showed officials support stimulus cuts
this year if the economy improves.

The Standard & Poor’s 500 Index (SPX) lost 0.6 percent to 1,642.80 at 4 p.m. in New York,
the lowest since July 8. The Dow dropped 105.44 points, or 0.7 percent, to 14,897.55.
The measure retreated for a sixth day, the longest losing streak since July 2012.
About 5.6 billion shares changed hands on U.S. exchanges today, 11 percent below the three-month average.

 

[acfx]

Daily Market Outlook from ACFX 08/26/2013

Daily Market Outlook from ACFX 08/26/2013


Important Financial Indicators of the day

USD - 15:30 (GMT) - Core Durable Good Orders m/m - Forecast 0.6% - Previous -0.1%


Currencies

EUR/USD The dollar maintained a weekly
decline against the euro as investors speculated over whether
the U.S. economy is strong enough to support a reduction in
Federal Reserve stimulus next month.

The dollar was little changed at $1.3381 per euro as of
2:04 p.m. in Tokyo from Aug. 23, when it completed a 0.4 percent
weekly loss. It traded at 98.60 yen from 98.72 at the end of
last week. The euro was at 131.94 yen, after reaching 132.43 on
Aug. 23, the most since July 25.

AUD/USD Australian government bonds rose along with the currency,
as investors weigh the U.S. central bank’s timing for tapering stimulus
that has supported higher-yielding assets globally.

Australia’s 10-year government bond yield dropped four
basis points, or 0.04 percentage point, to 4.01 percent as of
2:13 p.m. in Sydney. The rate on sovereign debt due in two years
fell one basis point to 2.51 percent. The nation’s currency
added 0.1 percent to 90.40 U.S. cents after gaining 0.7 percent
in the two days ended Aug. 23.

USD/CAD Canada’s dollar lost the most in more than two months as wholesale
and retail sales fell and consumer-price gains stayed below the central bank’s
inflation target for a 15th month, fueling concern the economy is slowing.

Canada’s currency depreciated 1.5 percent to C$1.0496 per
U.S. dollar this week in Toronto, the biggest drop since the
five days ended June 21. It touched C$1.0568 yesterday, the
weakest since July 9. One Canadian dollar buys 95.27 U.S. cents.



Commodities

Oil West Texas Intermediate crude rose for a third day as speculation the Federal Reserve
will maintain economic stimulus boosted the demand outlook in the world’s
biggest oil user. Brent’s premium to WTI narrowed.

WTI for October delivery climbed as much as 95 cents to $107.37 a barrel in
electronic trading on the New York Mercantile Exchange and was at $107.02
at 1:57 p.m. Sydney time. The contract climbed 1.3 percent to $106.42 on Aug. 23,
the biggest gain since Aug. 9.

Brent for October settlement advanced 26 cents to $111.30 a
barrel on the London-based ICE Futures Europe exchange. The
European benchmark crude was at a premium of $4.27 to WTI, down
from $4.62 on Aug. 23.

Gold swung between gains and losses after climbing to the highest level since
June as investors weighed the outlook for stimulus in the U.S., with a
slump in new-home sales boosting the case for sustained debt-buying.

Bullion for immediate delivery rose as much as 0.7 percent to $1,407.18 an ounce,
the highest since June 7, before trading 0.2 percent lower at $1,395.64 at 11:23 a.m. in Singapore.
Gold for December delivery rose as much as 0.8 percent to $1,407
an ounce on the Comex, also the highest since June 7.



Equities
Asian stocks rose for a second day after a slump in U.S. home sales eased speculation the Federal Reserve will reduce economic stimulus next month. The MSCI Asia Pacific Index advanced 0.3 percent to 131.80
as of 1:42 p.m. in Tokyo, with all of the 10 industry groups on
the gauge rising.

 

[acfx]

Daily Market Outlook from ACFX 08/27/2013


Important Financial Indicators of the day

USD - 15:30 (GMT) - Core Durable Good Orders m/m - Forecast 0.6% - Previous -0.1%


Currencies

EUR/USD The dollar maintained a weekly
decline against the euro as investors speculated over whether
the U.S. economy is strong enough to support a reduction in
Federal Reserve stimulus next month.

The dollar was little changed at $1.3381 per euro as of
2:04 p.m. in Tokyo from Aug. 23, when it completed a 0.4 percent
weekly loss. It traded at 98.60 yen from 98.72 at the end of
last week. The euro was at 131.94 yen, after reaching 132.43 on
Aug. 23, the most since July 25.

AUD/USD Australian government bonds rose along with the currency, as investors
weigh the U.S. central bank’s timing for tapering stimulus that
has supported higher-yielding assets globally.

Australia’s 10-year government bond yield dropped four
basis points, or 0.04 percentage point, to 4.01 percent as of
2:13 p.m. in Sydney. The rate on sovereign debt due in two years
fell one basis point to 2.51 percent. The nation’s currency
added 0.1 percent to 90.40 U.S. cents after gaining 0.7 percent
in the two days ended Aug. 23.

USD/CAD Canada’s dollar lost the most in more than two months as wholesale
and retail sales fell and consumer-price gains stayed below the central bank’s inflation
target for a 15th month, fueling concern the economy is slowing.

Canada’s currency depreciated 1.5 percent to C$1.0496 per
U.S. dollar this week in Toronto, the biggest drop since the
five days ended June 21. It touched C$1.0568 yesterday, the
weakest since July 9. One Canadian dollar buys 95.27 U.S. cents.



Commodities

Oil West Texas Intermediate crude rose for a third day as speculation the Federal Reserve
will maintain economic stimulus boosted the demand outlook in the world’s
biggest oil user. Brent’s premium to WTI narrowed.

WTI for October delivery climbed as much as 95 cents to $107.37 a barrel in
electronic trading on the New York Mercantile Exchange and was at $107.02
at 1:57 p.m. Sydney time. The contract climbed 1.3 percent to $106.42 on Aug. 23,
the biggest gain since Aug. 9.

Brent for October settlement advanced 26 cents to $111.30 a
barrel on the London-based ICE Futures Europe exchange. The
European benchmark crude was at a premium of $4.27 to WTI, down
from $4.62 on Aug. 23.

Gold swung between gains and losses after climbing to the highest level since
June as investors weighed the outlook for stimulus in the U.S., with a
slump in new-home sales boosting the case for sustained debt-buying.

Bullion for immediate delivery rose as much as 0.7 percent to $1,407.18 an ounce,
the highest since June 7, before trading 0.2 percent lower at $1,395.64 at 11:23 a.m.
in Singapore. Gold for December delivery rose as much as 0.8 percent to $1,407 an ounce
on the Comex, also the highest since June 7.



Equities

Asian stocks rose for a second day after a slump in U.S. home sales eased speculation
the Federal Reserve will reduce economic stimulus next month.

The MSCI Asia Pacific Index advanced 0.3 percent to 131.80
as of 1:42 p.m. in Tokyo, with all of the 10 industry groups on
the gauge rising.

 

[acfx]

Daily Market Outlook from ACFX 08/28/2013

Daily Market Outlook from ACFX 08/28/2013



Important Financial Indicators of the day


GBP - 14:45 (GMT) - BOE Gov Carney Speaks
USD - 17:00 (GMT) - Pending Home Sales m/m - Forecast 0.2% - Previous -0.4%


Currencies

USD/JPY The yen held its biggest gains in 2
1/2 months against the dollar and euro as traders sought haven
investments amid escalating tension in Syria.

The yen was little changed at 97.06 per dollar at 1:55 p.m.
in Tokyo from yesterday when it rallied 1.5 percent, the most
since June 11. It touched 96.82, the strongest since Aug. 12.
Japan’s currency gained 0.1 percent to 129.83 per euro after
rising 1.3 percent yesterday, the most since June 14.

USD/CAD Canada’s dollar advanced from almost a seven-week low after crude oil,
the nation’s biggest export, climbed to the highest level since July on
speculation tension in Syria will disrupt Middle East supplies.

The loonie, nicknamed for the image of the aquatic bird on the C$1 coin,
appreciated 0.3 percent to C$1.0474 per U.S. dollar at 5 p.m. in Toronto
after touching 1.0472, the strongest since Aug. 22. It lost as much as
0.4 percent earlier to C$1.0540 after touching C$1.0568 on Aug. 23,
the weakest since July 9. One Canadian dollar buys 95.48 U.S. cents.



Commodities

Oil West Texas Intermediate crude surged to the highest price since May 2011
on concern that conflict in Syria may spread and threaten oil supplies from the Middle East.

WTI for October delivery rose as much as $3.11 to $112.12 a
barrel in electronic trading on the New York Mercantile
Exchange, the highest intraday price since May 3, 2011. It was
at $112.03 at 2:47 p.m. Sydney time. The volume of all futures
traded was about 340 percent above the 100-day average. The
contract increased $3.09 to $109.01 yesterday, the highest close
since Feb. 24 last year. Prices are up 22 percent in 2013.

Brent for October settlement advanced as much as $2.87, or
2.5 percent, to $117.23 a barrel on the London-based ICE Futures
Europe exchange after settling yesterday at the highest since
Feb. 25. The European benchmark crude was at a premium of $5.07
to WTI from $5.35 yesterday.

Gold traded near the highest level since May after a four-day rally
as speculation that the U.S. may lead military strikes against Syria within days
spurred investors’ demand for a haven. Silver and platinum advanced.

Bullion for immediate delivery rose as much as 0.3 percent to $1,419.55
an ounce and was at $1,417.17 at 11:38 a.m. in Singapore. Prices climbed
to $1,423.95 yesterday, the highest since May 15. Gold for December delivery
declined 0.2 percent to $1,417 an ounce on the Comex after rising 2 percent yesterday.



Equities

Asian stocks slumped, with the
regional benchmark index heading for the lowest close in two
months, on concern the U.S. will take military action against
Syria for using chemical weapons.

The MSCI Asia Pacific Index dropped 1.9 percent to 128.72
as of 12:51 p.m. in Tokyo, heading for the lowest close since
June 27 as more than eight shares fell for each that rose. The
gauge is on course for its eighth decline in 10 days as the
prospect of the Federal Reserve paring stimulus as soon as next
month spurs investors to shun riskier assets.

European stocks slid the most in nine weeks after U.S. Secretary
of State John Kerry said the Obama administration will hold Syria accountable
for using chemical weapons against its own people.

The Stoxx 600 slid 1.8 percent to 299.01 at the close in London. The equity
benchmark has still rallied 8.5 percent from this year’s low on June 24 as
the European Central Bank said that interest rates will remain low for an extended period.