FOREX REVIEW
As Spanish 10-year debt yields moved north of 7.6% the sense of urgency is rising amongst politicians to create a direct lender than can recapitalize banks directly. The ECB is expected to play a bigger role in bailing out banks once the nations agree on terms and conditions however historical differences and tensions could pose a threat to any accord. European equities remained weak across the board as the Spanish IBEX plunged -3.58% followed by a -2.71% slide in the Italian MIB as Italian 10-year yields soared over 4.10% yesterday to 6.597%. The Euro Stoxx 50 also fell, declining -1.27%. EURUSD broke another key level at 1.2050 yesterday although has since rebounded 0.09% to 1.2072.
Asian stocks are trending lower for a 4th straight session as the lack of clarity in Europe coupled with a Chinese slowdown is rattling investors. While concerns about the pace of expansion in China were highlighted yesterday by the IMF as the employment picture gradually weakens, Japan in a surprise move posted a trade surplus. This is accounted for by lower energy prices which have reduced import costs dramatically. The Nikkei is Asia's worst performing index today, crumbling -1.00% as the Australian ASX and Hong Kong Hang Seng fall -0.40% and -0.37% respectively. NZDUSD continues to underperform peers, falling -0.22% ahead of today's RBNZ rate decision. Rates are expected to remain unchanged at 2.50%.
U.S. markets were not immune to the sentiment circling the globe especially as bell-weather companies like UPS and Apple reported earnings that came up short of analyst expectations. The technology-weighted Nasdaq fell -0.94% while the S&P 500 dropped -0.90%. The Dow Jones also recorded a decline, slipping -0.82%. The one bright spot is that housing prices have recorded the first year-over-year increase since 2007 according to Zillow. Even though housing data has shown to be a mixed bag with recent data, the supply is gradually being mopped up which is pushing prices higher. Soft commodities ended mixed as corn futures pushed 0.39% higher while sugar and soybeans recorded losses, ticking down -1.67% and -0.89% respectively.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. CONNECTED
Visit Us www.deryworldscorp.web.id
As Spanish 10-year debt yields moved north of 7.6% the sense of urgency is rising amongst politicians to create a direct lender than can recapitalize banks directly. The ECB is expected to play a bigger role in bailing out banks once the nations agree on terms and conditions however historical differences and tensions could pose a threat to any accord. European equities remained weak across the board as the Spanish IBEX plunged -3.58% followed by a -2.71% slide in the Italian MIB as Italian 10-year yields soared over 4.10% yesterday to 6.597%. The Euro Stoxx 50 also fell, declining -1.27%. EURUSD broke another key level at 1.2050 yesterday although has since rebounded 0.09% to 1.2072.
Asian stocks are trending lower for a 4th straight session as the lack of clarity in Europe coupled with a Chinese slowdown is rattling investors. While concerns about the pace of expansion in China were highlighted yesterday by the IMF as the employment picture gradually weakens, Japan in a surprise move posted a trade surplus. This is accounted for by lower energy prices which have reduced import costs dramatically. The Nikkei is Asia's worst performing index today, crumbling -1.00% as the Australian ASX and Hong Kong Hang Seng fall -0.40% and -0.37% respectively. NZDUSD continues to underperform peers, falling -0.22% ahead of today's RBNZ rate decision. Rates are expected to remain unchanged at 2.50%.
U.S. markets were not immune to the sentiment circling the globe especially as bell-weather companies like UPS and Apple reported earnings that came up short of analyst expectations. The technology-weighted Nasdaq fell -0.94% while the S&P 500 dropped -0.90%. The Dow Jones also recorded a decline, slipping -0.82%. The one bright spot is that housing prices have recorded the first year-over-year increase since 2007 according to Zillow. Even though housing data has shown to be a mixed bag with recent data, the supply is gradually being mopped up which is pushing prices higher. Soft commodities ended mixed as corn futures pushed 0.39% higher while sugar and soybeans recorded losses, ticking down -1.67% and -0.89% respectively.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. CONNECTED
Visit Us www.deryworldscorp.web.id
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