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
Global Indexes | Current Level | % Change |
FTSE 100 Index | 5,851.30 | + 4.31 |
CAC 40 Index | 4,867.50 | + 4.72 |
DAX Index | 6,820.53 | + 5.92 |
SMI Index | 7,683.88 | + 4.45 |
DJIA futures | 12,315.00 | + 0.35 |
Nasdaq futures | 1,809.50 | + 0.11 |
S&P future | 1,346.70 | + 0.38 |
World Markets | Current Level | % Change |
Gold | 892.5 | 0.24 |
Silver | 16.08 | -0.06 |
VIX | 29.02 | -6.41 |
Crude wti | 87.6 | 0.7 |
USD Index | 76.31 | -0.12 |
Todays Calender | Estimates | Previous | Country / GMT |
Existing Home Sales (Dec) | 4,950K | 5,000K | US / 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
USDJPYR 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
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