UWC Currency - page 16
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13.10.2011
Stagnating Chinese
trade in September
The Chinese trading figures for September came in weaker than expected. The trade balance show a surplus on 14,51 Billion USD,
1.8 B USD less than the forecasts with weaker export and import numbers. Inflation is still running high on 6 %. The somewhat disappointing numbers had, however, no influence on Asian stock markets that continued to rally for the 6th consecutive day. The Japanese Nikkei is up more than 1 % after a new strong day for the US-exchanges. DOW is up 0,90 % and Nasdaq 0,84 %.
Copper and oil prices are slightly weaker in the morning trade with Brent 111, 17. South Korean and Australian currencies are stronger, and the EURO continue to climb against the USD at 1.3796 after reaching 1.3825 in early morning trade. The stronger Euro and the continued stock rally reflects investors belief that the EU-countries shall take quick and decisive action to recapitalize struggling banks and to avoid the Greek debt crisis to contagion further and hit Spain and Italy.
The speech by EU-Commission President, Jose Barroso, yesterday was seen in this light and as a strong expression of European willingness to take strong action to save ailing Western European banks.
19.10.2011
Markets rally on
EU-solution rumors
After a dismal start on the trading week, rumors on a French-German agreement on increasing the emergency fund for sovereign debt and bank recapitalization to 2 Trillion Euros, spurred a strong world market rally initiated in US where Dow rose 1,58 and Nasdaq 1,63 %. Asian markets jump, and European futures are pointing up. US futures are down on disappointing quarterly results also from Apple. Finance and banking shares have recovered. Bank of America is up 7 %.
The rumors from Europe has led to a strong rebound in the EURO. Euro/USD trading at 1.3812. Oil prices are up; NYMEX at 88 and Brent on 111 levels. Greece is facing a Parliamentarian vote on continued austerity measures on Thursday. All Greece is on strike. Premier Papandreou is seeing the vote as decisive to avoid default. Moodys has downgraded Spain credit rating. This does not, however, place Spain on the same credit standing as Greece, Europe and Portugal.
In spite of some renewed market optimism, Angela Merkel yesterday repeated that the European credit crisis is deep rooted and shall be with the markets for a long time to come.
24.10.2011
Negotiations of the European leaders
keep investors in suspense
At EU summit in Brussels which first stage has passed on October, 23rd, leaders of the European countries have depicted an overall picture of the program of rescue of region. In particular potential measures on support of banks have been planned and questions of increase in a role of IMF in a question of rendering assistance to region were mentioned. Last decision will be taken on Wednesday, on October, 26th.
Indexes grew last week and today we also expect positive opening because all investors live in hope that the European regulators will take measures in the decision of debt crisis. Positive reporting of some companies also have supported purchasing moods. According to WSJ, quarter results about 70 % of the reported companies have surpassed expectations of analysts.
Following the results of the trading session the indicator of "blue chips" index Dow Jones Industrial Average has raised on 2,31 % and was closed on a level of 11808,79 points, an index of wide market S&P 500 has risen on 1,88 % to level 1238,25 points, and the index of hi-tech companies Nasdaq has raised on 1,49 % to a level 2637,46 points.
The prices for oil and gold also show an ascending trend. NYMEX is on 88,54 and Brent 110.76. Gold is up at 1652.28.
25.10.2011
The fourth week of October:
European summit in focus
On Monday, on October, 24th, American indexes were closed with an increase. Corporate reporting and increasing oil prices have supported purchasing moods. At the same time, market growth limits the European factor. Despite some progress at the summit, regulators can't come to the consent on some questions, as for example, what share of losses will be incurred by private creditors on the Greek debt. Investors hope for a positive outcome of the second summit on Wednesday, but at the same time while some uncertainty remains, investors are careful, and we can see rather low volumes.
Following the results of the trading session the indicator of "blue chips" index Dow Jones Industrial Average has raised on 0,89 % and was closed on a level of 11913,62 points, an index of wide market S&P 500 has risen on 1,29 % to level 1254,19 points, and Nasdaq has reached on 2,35 % to a level 2699,44 points.
The price for futures for oil of mark Light has raised on $3,87 or 4,4 % to level of $91,27 for barrel. Oil reached its maximum since 3rd of August.
The price for futures for gold with delivery in December has raised on $16,20 or 1 % to value of $1652,30 for ounce. Gold has risen due to the fact that dollar is weakening towards all other reserve currencies.
Today trading session can be affected by the statistics from USA.
26.10.2011
Nervous markets wait
outcome of EU-summit
Leading western indexes have decreased yesterday because of the published weak macroeconomic statistics. As well as the concern of investors that the anti-recessionary plan is not going to be accepted after it became known that the meeting of Ministers of Finance of the European Union countries, planned for October, 26th, is cancelled.
No clear direction in the stock markets in sight. As a result the American market has finished Tuesday’s trading session with fall of leading indexes on 1,7-2,3 %, due to the negative data of macroeconomic statistics and some weak reports of the companies. Dow reached level of 11706.62 with a decrease of 1.73%, S&P 500 was closed on a level of 1229.05 points with a decrease of more than 2%.
The extremely disturbing, yesterday has appeared the data on an index of consumer confidence to economy of the USA which in October has fallen to the minimum level for last 2,5 years, practically having reached crisis levels of 2008. From 10 indexes of sectors of the wide market of the USA yesterday have decreased all 10, and the financial sector which index has lost 3,1 % became the outsider.
Nevertheless, futures for share indexes of the USA this morning add 0,4-0,5 %, Brent continues movement below $112, increase above the given level assumes further growth.
Negotiations on the final plan seem still left open.