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German IFO Stronger

Thursday, January 24, 2008

Market Brief

Usd was mixed in European session. Usd was stronger against Jpy and Chf and weaker against the remainder G10 currencies as risk appetites increased with stock markets. Headline German business climate index rose to 103.4 vs. 102.3 exp. prior 103.0 reading. This is an encouraging sign that despite the recent turmoil in global markets, activity in the real German economy is holding up.

US Initial Jobless Claims (Jan) dropped to 301k which is lower than what markets were expecting at 320k, however the market shrugged off this positive data leaving the Usd mostly unchanged.

US equity market looks like they are going to follow the European market into positive territory as the momentum gains ground. US existing Home Sales and comments from ECB’s Trichet will rounds up this odd day.

16:20gmt - ECB's Trichet speaks
19:30gmt - Greenspan speaks on the US economy

G10 Advancers and Decliners vs USD


Global IndexesCurrent Level% Change
FTSE 100 Index5,851.30+ 4.31
CAC 40 Index4,867.50+ 4.72
DAX Index6,820.53+ 5.92
SMI Index7,683.88+ 4.45
DJIA futures12,315.00+ 0.35
Nasdaq futures1,809.50+ 0.11
S&P future1,346.70+ 0.38

World Markets Current Level % Change
Gold 892.50.24
Silver 16.08-0.06
VIX 29.02-6.41
Crude wti 87.60.7
USD Index 76.31-0.12

Todays CalenderEstimatesPreviousCountry / GMT
Existing Home Sales (Dec)4,950K5,000KUS / 15:00
National CPI (Dec)0.7%0.6%JP / 23:30
National CPI Ex. Fresh Food (Dec)0.6%0.4%JP / 23:30


Currency Tech

USDJPY
R 3: 114.00 P
R 2: 110.10 S
R 1: 107.38 M
CURRENT 106.05
S 1: 106.00 S
S 2: 105.63 M
S 3: 104.20 T

GBPUSD

R 3: 2.0245 S
R 2: 2.0100 S
R 1: 1.9985 M
CURRENT 1.9657
S 1: 1.9483 M
S 2: 1.9337 M
S 3: 1.9105 S

EURUSD

R 3: 1.5000 K
R 2: 1.4967 S
R 1: 1.4685 M
CURRENT 1.4697
S 1: 1.4500 P
S 2: 1.4311 T
S 3: 1.4280 S

S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot

Posted by MOHAMED SAID at 10:50 PM  

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