Archive for November 25th, 2009

 

Mid-Day Report: Yen Firm, High-Yielders Pressured by Dubai Debt Delay

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

Yen remains firm after earlier rally that sent it to new 14 year high against dollar. Other major currencies are dragged down against dollar by sharp selloff in respective yen crosses. News that Dubai World, a government investment company having debts totaling around $60b, has asked creditors for postponing its…

Events to Watch: Japan Unemployment, CPI, Retail Sales

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

Unemployment rate plunged to 0.2% percentage point to 5.3% in September and gave a positive sign to the market that the job market has started to improve. The unemployment is expected to have stayed flat at 5.3% in October. However, it does not imply that the rate has peaked at…

EMEA: Dubai Concerns Weigh on Markets

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

The EMEA FX and fixed income markets have come under some pressure today as a result of the Dubai authorities asking investors for a debt standstill in Dubai World – the Dubai government?s flagship company for real estate development. This has increased concerns about a potential Dubai sovereign default, sending…

Euroland: No Comfort for the ECB

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

M3 declined more than consensus expected. This was not so surprising though as the decline is due to base effects. Monthly developments in M3 have been pretty much flat since October last year with outstanding amounts staying in the EUR9.380-9.430bn range. In October, M3 fell 0.14% from EUR9.414bn to EUR9.4014bn.

Equity Sell-Off Empowers The Dollar Bulls

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

Overall, the sell-off from the equity markets had a major influence on the pound and on the aussie, but interestingly, it had only limited effects on the euro and swissy. Driven by risk-aversion, the yen broke below the 86.00 area, to reach the lowest value since 1995. Thanksgiving Day has…

United Kingdom’s Pound and Stocks Decline Due to Dubai’s World Delaying Debts

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

Dubai World, one of the key investment companies in Dubai, which is owned by the government, requested to postpone paying its debt to creditors until May of 2010; with liabilities worth $59 billion. The company was negatively affected by the credit crisis, which was believed to be the worst credit…

EURUSD: Clears The 1.5062 Level, Corrects

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

After exactly one month following its loss of upside momentum at the 1.5062 level, EUR was seen decisively breaking through that level on Wednesday as well as the 1.5082 and the 1.5100 levels to close higher at 1.5132. This victory and its medium term resumption is coming on the back…

GBPUSD: Downside Pressure Still Dominates

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

The pair was seen wiping out its Wednesday losses in early trading today suggesting further downside losses towards the 1.6459 level where its Nov 20?09 high is located. Further downside risk comes in at the 1.6249/60 area, its Oct 26?09/Nov 03?09 lows. These two key levels must hold if tested…

FX Thoughts for the Day

Nov 25, 2009 in Grow Financially, Investment Protection, Opportunities

Cable has fallen sharply today and taken Support of the lower end of the Channel on the daily. If this channel Support which is at 1.6500 today continues to hold, the uptrend is still alive. A break of this Support would bring with it a downward pressure on the pair…

Forex Economic Calendar

Nov 25, 2009 in Grow Financially, Opportunities

Date Time* Source Description Forecast Previous
11/26/2009 00:30 AUS Private Capital Expenditure 1.0% 3.3%
11/26/2009 02:00 NZ NBNZ Business Confidence n/a 48.2
11/26/2009 09:00 EU Euro-Zone M3 s.a. (YoY) 0.8% 1.8%
11/26/2009 11:00 UK U.K. CBI Quarterly Distributive Trades n/a n/a
11/26/2009 21:45 NZ Trade Balance -480M -424M
11/26/2009 23:30 JPN Natl CPI YoY -2.4% -2.2%
11/26/2009 23:50 JPN Retail Trade YoY -1.6% -1.3%
11/27/2009 02:00 NZ Money Supply M3 YoY n/a 2.7%
11/27/2009 07:00 GE Import Price Index (YoY) -7.8% -11.0%
11/27/2009 10:00 EU Business Climate Indicator -1.65 -1.78
11/27/2009 13:30 CA Current Acount (BOP) -$13.3B -$11.2B
11/29/2009 21:45 NZ Building Permits MoM n/a 3.3%
11/29/2009 23:30 AUS TD Securities Inflation YoY% n/a 1.2%
11/29/2009 23:50 JPN Industrial Production YoY n/a -18.4%
11/30/2009 00:00 AUS HIA New Home Sales (MoM) n/a -4.5%
11/30/2009 00:01 UK GfK Consumer Confidence Survey n/a -13
11/30/2009 00:30 AUS Inventories n/a -3.4%
11/30/2009 01:30 JPN Labor Cash Earnings YoY n/a -1.8%
11/30/2009 04:00 JPN Vehicle Production (YoY) n/a -21.6%
11/30/2009 05:00 JPN Housing Starts (YoY) n/a -37.0%
11/30/2009 09:30 UK M4 Money Supply (YoY) n/a 11.0%
11/30/2009 10:00 EU Euro-Zone CPI Estimate (YoY) n/a -0.1%
11/30/2009 13:30 CA GDP MoM n/a -0.1%
11/30/2009 14:45 US Chicago Purchasing Manager 53.0 54.2
11/30/2009 15:30 US Dallas Fed Manf. Activity n/a -3.3%
11/30/2009 21:15 US Bloomberg FCI Monthly n/a n/a
11/30/2009 22:30 AUS AiG Performance of Mfg Index n/a 51.7
12/1/2009 00:30 AUS Building Approvals (YoY) n/a 11.7%
12/1/2009 03:30 AUS RBA CASH TARGET 3.75% 3.50%
12/1/2009 05:00 JPN Vehicle Sales (YoY) n/a 12.6%
12/1/2009 05:30 AUS RBA Commodity Index SDR YoY% n/a -31.1%
12/1/2009 08:55 GE Unemployment Change (000′s) n/a n/a
12/1/2009 09:00 EU PMI Manufacturing n/a n/a
12/1/2009 09:30 UK PMI Manufacturing n/a 53.7
12/1/2009 10:00 EU Euro-Zone Unemployment Rate n/a 9.7%
12/1/2009 15:00 US ISM Manufacturing 55.0 55.7
12/1/2009 22:00 US ABC Consumer Confidence n/a n/a
12/1/2009 23:50 JPN Monetary Base (YoY) n/a 4.4%
12/2/2009 09:30 UK PMI Construction n/a 46.2
12/2/2009 10:00 EU Euro-Zone PPI (YoY) n/a -7.7%
12/2/2009 12:30 US Challenger Job Cuts YoY n/a n/a
12/2/2009 13:15 US ADP Employment Change n/a -203K
12/2/2009 19:00 US Fed’s Beige Book n/a n/a
12/2/2009 22:30 AUS AiG Performance of Service n/a 54.8
12/2/2009 23:50 JPN Capital Spending n/a -21.7%
12/3/2009 01:30 AUS Retail Sales s.a. (MoM) n/a -0.2%
12/3/2009 02:00 NZ ANZ Commodity Price n/a 4.6%
12/3/2009 08:55 GE PMI Services n/a n/a
12/3/2009 09:00 EU PMI Services n/a n/a
12/3/2009 09:30 UK PMI Services n/a 56.9
12/3/2009 10:00 EU Euro-Zone Retail Sales (YoY) n/a -3.6%
12/3/2009 12:45 EU ECB Announces Interest Rates n/a 1.00%
12/3/2009 13:30 US Nonfarm Productivity 8.7% 9.5%
12/3/2009 13:30 US Initial Jobless Claims n/a n/a
12/3/2009 13:30 US Continuing Claims n/a n/a
12/3/2009 15:00 US ISM Non-Manf. Composite 51.5 50.6
12/3/2009 16:00 US ICSC Chain Store Sales YoY n/a 2.1%
12/4/2009 12:00 CA Net Change in Employment n/a -43.2K
12/4/2009 13:30 US Change in Nonfarm Payrolls -125K -190K
12/4/2009 15:00 CA Ivey Purchasing Managers Inde n/a 61.2
12/4/2009 15:00 US Factory Orders 0.5% 0.9%

* Times listed are GMT