Daily Market Outlook from ACFX

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Daily Market Outlook

Posted by on January 16, 2013

Important Financial Indicators of the day Forecast Previous

USD 15:30 (GMT) Core CPI m/m 0.2% 1.1%

Currencies

EUR/USD The euro’s 8.4 percent gain against the U.S. dollar in the past six months is posing a fresh threat to the European economy just as it shows signs of escaping the debt crisis, said Jean-Claude Juncker, who leads the group of euro-area finance ministers.

The European currency dropped as much as 0.9 percent after Juncker’s comments, the biggest intraday decline since Jan. 3. The euro traded at $1.3306 at 5 p.m. New York time, down 0.6 percent. It touched an intraday high of $1.3404 on Jan. 14, the strongest since Feb. 29, 2012.

USD/JPY The yen headed for its biggest two- day gain in eight months amid speculation the Bank of Japan (8301) will fail to impress investors with extra policy measures at its Jan. 21-22 meeting.

The yen rose 0.7 percent to 88.16 per dollar as of 2:15

p.m. in Tokyo, following a 0.8 percent jump yesterday. It would

be the sharpest back-to-back gain since May 18. The Japanese

currency reached 89.67 on Jan. 14, a level unseen since June

2010. The euro slid 0.1 percent to $1.3289 after dropping 0.6

percent yesterday. It touched $1.3404 on Jan. 14, the strongest

since Feb. 29. The currency fell 0.9 percent to 117.14 yen.

USD/CAD The Canadian dollar weakened the most in six months against the yen on speculation the central bank may limit policies to devalue the currency after Japan’s economy minister said the country faces economic risks.

The Canadian dollar, called the loonie for the image of the aquatic bird on the C$1 coin, was little changed at 98.43 cents per U.S. dollar at 5:07 p.m. in Toronto, after declining the most since Jan. 4. One loonie buys $1.0160.

Commodities

Oil traded near the lowest level in almost a week in New York after U.S. crude stockpiles increased and the World Bank cut its economic growth forecasts.

Crude for February delivery was at $93.51 a barrel, up 23 cents, in electronic trading on the New York Mercantile Exchange at 1:46 p.m. Singapore time. The contract declined 0.9 percent to $93.28 yesterday, the biggest drop since Dec. 21 and the lowest close since Jan. 9.

Brent for February settlement, which expires today, was up

37 cents at $110.67 a barrel on the London-based ICE Futures

Europe exchange. The more active March contract rose 35 cents to

$109.98. The front-month European benchmark contract was at a

premium of $17.16 to WTI. It closed at $17.02 yesterday, the

narrowest spread since Sept. 19.

Gold advanced for a third day toward

a two-week high as expectations that global policy makers will

need to stimulate growth boosted demand for a store of value.

Platinum fell from the most expensive in three months.

Spot gold gained as much as 0.3 percent to $1,684.75 an ounce and traded at $1,682.45 at 12:48 p.m. in Singapore. The metal reached $1,685.25 yesterday, the costliest since Jan. 3, after Federal Reserve Chairman Ben S. Bernanke said the previous day that while the U.S. economy is responding to monetary stimulus there is still “quite a ways to go.”

Equities

Asian stocks fell, with the regional

benchmark index heading for its first loss in three days, amid

signs markets are overbought. The Nikkei 225 Stock Average slid

by the most in eight months.

The MSCI Asia Pacific Index (MXAP) slid 0.8 percent to 131.61 as of 3:03 p.m. Tokyo time, with almost three stocks falling for each that rose. The gauge has rallied since November after reports showed China’s economy is recovering and Japanese shares gained on speculation Prime Minister Shinzo Abe will pursue more aggressive policies to stimulate the world’s third-largest economy

European stocks were little changed as concern that debt-ceiling talks will harm the

U.S. economy and a report showing weaker-than-forecast German growth

offset Spain’s better-than-targeted sale of debt.

The Stoxx Europe 600 Index (SXXP) lost less than 0.1 percent to 285.97 at the close of trading. The measure has still gained 2.3 percent since the start of the year after U.S. lawmakers agreed on a budget, avoiding tax increases and spending cuts that threatened to push the world’s biggest economy into a recession.

U.S stocks advanced, rebounding from earlier losses in the Standard & Poor’s

500 Index, as a rally in retail and transportation companies

overshadowed concern about discussions on raising the debt ceiling.

The S&P 500 rose 0.1 percent to 1,472.34 at 4 p.m. New York time, after falling as much as 0.5 percent earlier. The Dow Jones Industrial Average added 27.57 points, or 0.2 percent, to 13,534.89. The Dow Jones Transportation Average gained 0.7 percent to a record 5,639.64. About 5.8 billion shares changed hands on U.S. exchanges, or 5.7 percent.

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Daily Market Outlook

Posted by on January 17, 2013

Important Financial Indicators of the day Forecast Previous

USD 15:30 (GMT) Building Permits 0.91M 0.90M

USD 15:30 (GMT) Unemployement Claims 369K 371K

USD 17:00 (GMT) Philly Fed Manufacturing Index 7.1 8.1

NZD 23:45 (GMT) CPI q/q 0.1% 0.3%

Currencies

AUD/USD Australia’s dollar slid versus all of its 16 major counterparts after a report today showed employers in the country unexpectedly cut payrolls last month, adding to concern the domestic economy is slowing.

Australia’s dollar lost 0.6 percent to $1.0507 at 2:53 p.m. in Sydney. It dropped 0.7 percent to 92.80 yen, extending its 1.2 percent decline in the previous two days. New Zealand’s currency slid 0.2 percent to 83.90 U.S. cents after rising 0.2 percent yesterday. It weakened 0.3 percent to 74.09 yen

USD/JPY The yen fell, snapping a two-day gain, as investors weighed the likelihood of new monetary easing measures by the Bank of Japan (8301) next week.

The yen slid 0.4 percent to 88.74 per dollar at 3:09 p.m. in Tokyo, after gaining 1.2 percent over the previous two days. It sank to 89.67 on Jan. 14, the lowest since June 2010. It fell 0.5 percent to 117.96 per euro. The euro was little changed at $1.3295.

USD/CAD The Canadian dollar fell against most of its major peers as government officials in Russia and Japan criticized monetary policies that have devalued major currencies in an attempt to spark economic growth.

The Canadian dollar, known as the loonie for the image of the waterfowl on the C$1 coin, declined 0.2 percent to 98.59 cents per U.S. dollar at 5:05 p.m. in Toronto. One loonie buys $1.0143

Commodities

Oil fell in New York as investors

speculated a rally to the highest level in four months was

exaggerated amid concern the global economic recovery may

falter, curbing fuel demand

Crude for February delivery declined as much as 44 cents to

$93.80 a barrel in electronic trading on the New York Mercantile

Exchange and was at $93.83 at 1:12 p.m. Singapore time. The

contract climbed 96 cents to $94.24 yesterday, the most since

Jan. 2. It was the highest close since Sept. 18.

Brent oil for March settlement on the London-based ICE

Futures Europe exchange decreased as much as 23 cents to $109.45

a barrel. The European benchmark crude was at a premium of

$15.27 to New York-traded West Texas Intermediate for the same

month. The spread ended yesterday’s session at $16.37, the

narrowest since Sept. 19.

Gold traded little changed near a

two-week high as investors weighed concern about slowing global

economic growth and expectations for more stimulus. Palladium

was near the highest level since September 2011.

Spot gold was at $1,680.05 an ounce at 10:29 a.m. in Singapore from $1,679.95 yesterday. The metal reached $1,685.25 on Jan. 15, the most expensive since Jan. 3, as U.S. lawmakers wrangled over increasing the $16.4 trillion debt ceiling. Since 1960, Congress has raised or revised the debt limit 79 times, including 49 times under Republican presidents, according to the Treasury Department.

Equities

Asian stocks declined, with the regional benchmark index poised to fall a second day, after touching a 17-month high this week. The Nikkei 225 (NKY) Stock Average headed for its biggest two-day drop since November 2011 after the yen reversed its losses.

The MSCI Asia Pacific Index dropped 0.5 percent to 130.84

as of 1:42 p.m. Tokyo time, erasing gains of as much as 0.6

percent. The gauge rallied 9.8 percent from Nov. 14 through

yesterday as Japanese shares surged on speculation Prime

Minister Shinzo Abe will pursue more aggressive stimulus

policies and reports showed recovery in the U.S. and China.

European stocks were little changed,

erasing an earlier retreat for the region’s benchmark Stoxx

Europe 600 Index, as U.S. industrial production climbed and

Goldman Sachs Group Inc.’s earnings topped estimates.

The Stoxx 600 rose less than 0.1 percent to 286.03 at the

close of trading, after earlier falling as much as 0.4 percent.

The gauge has advanced 2.3 percent since the start of the year

after U.S. lawmakers agreed on a budget, avoiding tax increases

and spending cuts

U.S stocks fell, following yesterday’s gain, as a cut in the World Bank’s growth forecasts offset a rally in Apple Inc. as investors watched earnings.

.

Three stocks retreated for every two rising on U.S. exchanges at 4 p.m. New York time. The Standard & Poor’s 500 Index advanced less than 0.1 percent to 1,472.63. The Dow Jones Industrial Average declined 23.66 points, or 0.2 percent, to 13,511.23. About 5.6 billion shares changed hands on U.S. exchanges, or 8.6 percent below the three-month average.

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Daily Market Outlook

Posted by on January 21, 2013

Important Financial Indicators of the day Forecast Previous

EUR 09:00 (GMT) EuroGroup Meeting text text

Currencies

AUD/JPY The Australian dollar declined

versus the yen before an inflation report this week that may

prompt further interest-rate cuts, damping demand for the

nation’s assets.

Australia’s dollar declined 0.4 percent to 94.28 yen as of

1:21 p.m. in Sydney, and traded little changed at $1.0516 after

touching $1.0486 on Jan. 18, the least since Jan. 8. New

Zealand’s currency, known as the kiwi, weakened 0.8 percent to

74.84 yen. It declined 0.2 percent to 83.47 cents, after

touching 83.34, the lowest since Jan. 7.

USD/JPY The yen rallied from its weakest

level in 2 1/2 years as Asian stock declines spurred demand for

safety and a decrease in bearish bets supported the currency.

The yen rose 0.4 percent to 89.75 per dollar as of 11:52 a.m. in Tokyo after earlier touching 90.25, the weakest since June 2010. Japan’s currency gained 0.3 percent to 119.59 per euro, after sliding 0.8 percent last week. The dollar was little changed at $1.3324 per euro from its close on Jan. 18, when it advanced 0.4 percent.

GBP/USD The pound had its steepest weekly

drop against the dollar since June on concern the U.K. economy

is struggling to expand and as growing investor confidence in

the euro-area damps demand for the currency as a haven.

The pound fell 1.7 percent to $1.5861 in the week to 5:46

p.m. London time yesterday, after sliding to $1.5854, the lowest

level since Nov. 16. The U.K. currency lost 1.5 percent to 83.83

pence per euro after depreciating to 83.95 pence, the weakest

since March 28.

USD/CAD The Canadian dollar fell the most in a month against its U.S. counterpart as selling pressure emerged after signs of economic growth from the U.S. and China failed to drive the currency above a key technical level.

The loonie fell 0.7 percent to 99.17 cents per U.S. dollar

this week in Toronto, the largest decline since the five days

ended Dec. 21. One loonie buys $1.0084.

Commodities

Oil dropped from the highest price

in four months in New York before U.S. lawmakers vote on budget

measures and European finance ministers meet to discuss the debt

crisis that threatens the region’s economy.

WTI for February delivery, which expires tomorrow, slid as

much as 36 cents to $95.20 a barrel in electronic trading on the

New York Mercantile Exchange and was at $95.23 at 1:23 p.m.

Sydney time. The more-active March future declined 27 cents to

$95.77. The front-month future increased 7 cents to $95.56 on

Jan. 18, the highest close since Sept. 17.

Brent for March settlement fell 25 cents to $111.64 a barrel on the London-based ICE Futures Europe exchange. The average volume of all contracts traded was 84 percent above the 100-day average. The European benchmark contract was at a premium of $15.89 to WTI futures for the same month. The gap was $15.16 on Jan. 17, the narrowest since July 24

Gold advanced on expectations for

more stimulus while U.S. lawmakers wrangle over the country’s

debt limit. Silver traded near the highest level in a month and

was set for the longest rally in a year

Gold rallied for a 12th year in 2012 on global stimulus

measures. The Bank of Japan starts a two-day policy meeting

today, while European finance ministers meet in Brussels for the

first time this year. In the U.S., House Republicans will use a

planned Jan. 23 vote on a three-month debt-ceiling increase to

try to force Senate Democrats to adopt a budget to spell out

their spending plan.

Equities

Asian stocks fell amid

speculation shares may have risen too far, too fast. Japanese

shares led the retreat as the yen climbed against the dollar

after hitting its lowest level in 2 1/2 years.

The MSCI Asia Pacific Index slid 0.1 percent to 132.62 as

of 11:35 a.m. in Tokyo, with about four stocks falling for every

three that rose. The gauge rallied 11 percent from Nov. 14

through Jan. 18 as Japanese shares jumped on optimism Prime

Minister Shinzo Abe will pursue more aggressive stimulus

policies to boost the economy.

European stocks were little changed

this week as better-than-expected economic data from China and

the U.S. offset concern that debt-ceiling talks will weigh on

recovering growth in the world’s biggest economy.

The Stoxx 600 Europe Index fell less than 0.1 percent to 287.03 this week. The measure climbed to its highest level since February 2011 last week amid speculation that U.S. companies’ earnings would exceed analysts’ estimates.

U.S stocks rose for a third week,

driving benchmark indexes to five-year highs, as earnings from

companies including General Electric Co. and Goldman Sachs Group

Inc. beat estimates and debt-limit talks progressed.

The S&P 500 (SPX) rose 1 percent to 1,485.98, extending its 2013 advance to 4.2 percent. The Dow Jones Industrial Average added 161.27 points, or 1.2 percent, to 13,649.70. Both measures closed at their highest levels since December 2007.

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Daily Market Outlook

Posted by on January 22, 2013

Important Financial Indicators of the day Forecast Previous

JPY Tentative BOJ Press Conference

EUR 12:00 (GMT) German ZEW Economic Sentiment 12.2 6.9

CAD 15:30 (GMT) Core Retail Sales m/m 0.1% 0.5%

USD 17:00 (GMT) Existing Home Sales 5.09M 5.04M

EUR 20:00 (GMT) ECB President Draghi Speaks

Currencies

AUD/JPY The Australian dollar halted a two- day decline against the yen before the Bank of Japan (8301) concludes a policy meeting amid speculation it will announce further stimulus measures.

Australia’s dollar traded at 94.14 yen as of 1:41 p.m. in

Sydney from 94.23 yesterday after a 0.6 percent two-day decline.

It rose 0.1 percent to $1.0522. New Zealand’s dollar bought

75.04 yen from 74.91 yesterday and rose 0.4 percent to 83.89

U.S. cents

USD/JPY The yen weakened toward the lowest level since June 2010 after the Bank of Japan (8301) announced open- ended asset purchases and adopted a 2 percent inflation target.

The yen lost 0.2 percent to 89.78 per dollar at 1:11 p.m. in Tokyo. Japan’s currency weakened 0.4 percent to 119.78 per euro following a 0.6 percent advance to 119.30 yesterday. The euro gained 0.3 percent to $1.3350.

Commodities

Oil traded near a four-month high in New York as Japan’s central bank said it will expand asset purchases to lift the world’s third-biggest crude consumer out of its third recession in five years. Brent prices advanced.

Crude for February delivery, which expires today, was at

$95.59 a barrel in electronic trading on the New York Mercantile

Exchange, up 3 cents at 11:53 a.m. Singapore time. The more

active March contract gained 8 cents at $96.12. Yesterday’s

transactions will be booked with today’s trades for settlement

purposes. Front-month futures rose 7 cents to $95.56 on Jan. 18,

the highest close since Sept. 17.

Brent oil for March settlement on the London-based ICE

Futures Europe exchange traded at $112.05 a barrel, up 34 cents.

The average volume of all contracts was 4 percent above the 100-

day average. The European benchmark crude was at a premium of

$15.97 to New York futures for the same month. The spread was

$15.16 on Jan. 17, the narrowest since July 24.

Gold extended its advance toward a one-month high after the Bank of Japan set a 2 percent inflation target and shifted to Federal Reserve-style open-ended asset purchases in an attempt to end two decades of deflation.

Spot gold increased as much as 0.2 percent to $1,693.30 an

ounce and traded at $1,692.60 at 12:08 p.m. in Singapore.

Bullion reached a one-month high of $1,696.29 on Jan. 17 on

concern global growth may slow. Gold for February delivery

gained 0.3 percent to $1,691.90 on the Comex in New York.

Equities

Asian stocks rose as the Bank of Japan (8301) said it would set a 2 percent inflation target and shifted to Federal Reserve-style open-ended asset purchases.

The MSCI Asia Pacific Index rose 0.2 percent to 132.43 as of of 1:12 p.m. in Tokyo, with about the same number of stocks rising and falling. Asia’s benchmark equities index is poised to gain for a third month amid signs the U.S. and Chinese economies are recovering and as Japanese shares rallied on Prime Minister Shinzo Abe’s more aggressive stimulus policies.

European stocks climbed to a one-

week high as euro-area finance ministers met for the first time

this year to address the region’s debt crisis. U.S. index

futures advanced.

The Stoxx Europe 600 Index (SXXP) rose 0.3 percent to 287.78 at the close of trading, the highest since Jan. 9. The gauge has gained 2.9 percent this year after U.S. lawmakers agreed on a budget deal avoiding most tax increases and spending cuts that had threatened to push the economy into a recession. With the so-called fiscal cliff averted, Congress now must decide whether to lift the federal debt limit as soon as mid-February

Canadian stocks rose, closing at the highest level in more than 17 months, as European finance ministers met for the first time this year to discuss a solution to the region’s debt crisis.

The Standard & Poor’s/TSX Composite Index (SPTSX) rose 68.56 points, or 0.5 percent, to 12,794.25 in Toronto, the highest close since August 2011. The benchmark gauge has gained 2.9 percent this year. Markets in New York were closed for Martin Luther King Jr. Day.

[acfx]

Daily Market Outlook

Posted by on January 24, 2013

Important Financial Indicators of the day Forecast Previous

EUR 10:30 (GMT) German Flash Manufacturing PMI 47.1 46.0

USD 15:30 (GMT) Unemployement Claims 359K 335K

Currencies

AUD/USD Australian

currency rose versus the yen after a survey of companies

showed Chinese manufacturing expanded at the fastest pace in two

years, brightening the outlook for commodity exports.

Australia’s dollar rose 0.3 percent to 93.79 yen as of 3:19

p.m. in Sydney. It fell 0.3 percent to $1.0520. New Zealand’s

currency gained 0.7 percent to 75.19 yen and added 0.1 percent

to 84.34 U.S. cents.

USD/JPY The yen weakened, snapping a three- day advance against the dollar, as signs of strengthening manufacturing in China curbed Asian stock losses and damped demand for safer assets.

The yen lost 0.7 percent to 89.18 per dollar as of 1:09

p.m. in Tokyo after gaining 1.7 percent in the previous three

days. The Japanese currency reached 90.25 on Jan. 21, the

weakest level since June 2010. It fell 0.6 percent to 118.75 per

euro from yesterday. The dollar was little changed at $1.3315

per euro.

USD/CAD The Canadian dollar fell to parity against its U.S. counterpart after the Bank of Canada said the need to raise interest rates is less urgent as the economy will take longer to reach full output

The Canadian dollar, known as the loonie for the image of the aquatic bird on the C$1 coin, fell 0.7 percent to 99.92 cents per U.S. dollar at 5:02 p.m. in Toronto. It touched the weakest level since Nov. 19. One loonie buys $1.0008.

The currency weakened beyond its 200-day moving average at

99.83 cents.

Commodities

Oil traded near the lowest level in

a week in New York after U.S. crude stockpiles gained and

capacity on the Seaway pipeline was reduced.

West Texas Intermediate crude for March delivery was at

$95.46 a barrel, up 23 cents, in electronic trading on the New

York Mercantile Exchange at 1:27 p.m. Sydney time. The contract

dropped $1.45 yesterday, the most since Dec. 21, to the lowest

price since Jan. 16. The average volume of all futures traded

was 75 percent above the 100-day average.

Brent for March settlement fell 32 cents to $112.48 a

barrel on the London-based ICE Futures Europe exchange. The

European benchmark contract was at a premium of $17.04 to WTI

futures, down from $17.57 yesterday. The gap was $15.16 on Jan.

17, the narrowest in almost six months

Gold will rally this year and into

2014 as U.S. Federal Reserve policy makers will probably

maintain asset purchases for two more years to buttress the

recovery of the largest economy, according to Morgan Stanley.

Gold for immediate-delivery fell 0.2 percent at $1,682.05 an ounce at 12:24 p.m. in Singapore. The price dropped to $1,625.85 on Jan. 4, the lowest level since August, after the release of the FOMC minutes. Gold, which slumped 5.5 percent in the three months to December, has gained 0.4 percent this year.

Equities

Asian stocks swung between gains and losses as Japanese shares rallied on a weaker yen, China’s manufacturing beat estimates and North Korea threatened a nuclear test. Apple Inc. (AAPL) suppliers fell after the company reported its slowest profit growth since 2003.

The MSCI Asia Pacific Index slid 0.1 percent to 131.96 as of 1:07 p.m. in Tokyo, after gaining as much as 0.1 percent and falling 0.4 percent. About four stocks rose for every three that retreated. The gauge jumped 10 percent through yesterday from Nov. 14, when elections were announced in Japan, spurring a rally in the country’s shares amid speculation the new government would do whatever was necessary to end deflation.

European stocks advanced, after remaining little changed for most of the day, as the U.S. House of Representatives gathered to vote on suspending the country’s debt limit and as results from Novartis to Unilever (ULVR) beat analyst estimates.

The Stoxx Europe 600 Index (SXXP) added 0.2 percent to 288.22 in London, as the number of shares rising and those falling were roughly even. The gauge this month surged to the highest level since February 2011 as U.S. lawmakers agreed on a compromise budget and American companies reported better-than-projected earnings.

U.S stocks rose, after benchmark indexes reached five-year highs, as lawmakers

voted to temporarily suspend the federal debt limit and technology

stocks rallied amid better-than-forecast earnings.

The Standard & Poor’s 500 Index gained 0.2 percent to 1,494.81 at 4

p.m. in New York. The Dow Jones Industrial Average rose 67.12 points, or

0.5 percent, to 13,779.33. About 6.1 billion shares changed hands on

U.S. exchanges, in line with the three-month average. Nasdaq 100 futures

dropped 1.7 percent to 2,712 as of 6:18 p.m. on Apple’s earnings

report.

[acfx]

Daily Market Outlook

Posted by on January 25, 2013

Important Financial Indicators of the day Forecast Previous

EUR 11:00 (GMT) German Ifo Business Climate 103.1 102.4

GBP 11:30 (GMT) Prelim GDP q/q -0.1% 0.9%

CAD 15:30 (GMT) Core CPI m/m -0.2% 0.0%

USD 17:00 (GMT) New Home Sales 387K 377K

Currencies

EUR/USD The Australian dollar rose versus the yen for a second day on speculation pressure will increase on the Bank of Japan (8301) to expand stimulus after core consumer prices in the nation declined last month.

Australia’s dollar rose 0.2 percent to 94.54 yen as of 1:45

p.m. in Sydney. It fell as low as $1.0439, the weakest since

Jan. 4, before trading little changed at $1.0452.

USD/JPY The yen headed for a record stretch

of weekly losses against the dollar as data showing a decline in

Japanese consumer prices added to the case for further monetary

stimulus from the central bank.

The Japanese currency slid 0.1 percent to 90.45 per dollar

at 1:17 p.m. in Tokyo from yesterday, after earlier touching

90.69, the weakest since June 21, 2010. It was set for an 11th

weekly loss, the longest losing streak in data compiled by

Bloomberg going back to 1971.

GBP/USD The pound fell to the weakest level in 11 months versus the euro before data tomorrow that economists said will show U.K. gross domestic product shrank last quarter.

The pound depreciated 0.8 percent to 84.76 pence per euro

at 4:35 p.m. London time after sliding to 84.81 pence, the

weakest since Feb. 28. Sterling fell 0.4 percent to $1.5780

after declining to $1.5757, the lowest since Aug. 28.

Commodities

Oil headed for a seventh weekly

advance in New York, the longest run of gains in almost four

years, amid signs of global economic growth and a drop in crude

stockpiles at Cushing, the U.S. storage hub.

Crude for March delivery was at $95.88 a barrel, down 7

cents, in electronic trading on the New York Mercantile Exchange

at 1:11 p.m. Sydney time. Futures rose 0.8 percent to $95.95

yesterday, the most since Jan. 17, and are up 0.4 percent this

week. A seventh weekly gain would be the longest run since April

2009. The average volume of all futures traded today was 61

percent below the 100-day average.

Brent for March settlement fell 17 cents to $113.11 a

barrel on the London-based ICE Futures Europe exchange. The

European benchmark contract was at a premium of $17.27 to WTI

futures, down from $17.33 yesterday. The gap was $15.16 on Jan.

17, the narrowest in almost six months.

Gold was poised for a weekly decline after reports from the U.S. to China signaled improving global growth, curbing demand for the metal as a haven asset. Platinum was on course for the best run of weekly gains in almost a year.

Gold for immediate delivery fell as much as 0.3 percent to $1,663.85 an ounce, the cheapest since Jan. 14, and was at $1,667.85 at 12:51 p.m. in Singapore. Prices are 1 percent lower this week, the most since the period to Dec. 21. Bullion for February delivery dropped as much as 0.4 percent to $1,662.60 an ounce, also the lowest since Jan. 14, on the Comex in New York

Equities

Asian stocks rose as declines

in Japanese consumer prices added to the case for more monetary

stimulus, boosting the Topix Index toward its longest weekly

winning streak in 40 years. Shares also gained after U.S.

jobless claims fell to a five-year low.

The MSCI Asia Pacific Index (MXAP) rose less than 0.1 percent to 131.49 as of 12:50 p.m. in Tokyo. About five stocks gained for every four that fell. The gauge is set for a 0.9 percent loss this week after a two-day retreat from the highest close in 17- months on Jan 22.

European stocks climbed to their

highest level since February 2011 as jobless claims in the U.S.

fell to a five-year low and the House of Representatives voted

to temporarily suspend the federal government’s borrowing limit.

The Stoxx Europe 600 Index (SXXP) gained 0.2 percent to 288.89 at the close of trading, after earlier sliding as much as 0.4 percent. The equity benchmark has climbed 3.3 percent this year after U.S. lawmakers agreed on a compromise budget.

U.S stocks rose, with the Standard & Poor’s 500 Index briefly topping 1,500, as an unexpected drop in jobless claims and better-than-forecast earnings offset the worst slump for Apple Inc. (AAPL) in four years.

The S&P 500 (SPX) was unchanged at 1,494.82, after rallying as much as 0.5 percent earlier. The Dow Jones Industrial Average gained 46 points, or 0.3 percent, to 13,825.33. The Nasdaq 100 Index (NDX) slid 1.4 percent to 2,723.53. More than 6.8 billion shares traded hands on U.S. exchanges today, or 10 percent above the three-month average.

[acfx]

Daily Market Outlook

Posted by on January 29, 2013

Important Financial Indicators of the day Forecast Previous

USD 15:00 (GMT) CB Consumer Confidence 64.8 65.1

Currencies

â– EUR/USD The dollar weakened against most of its 16 major counterparts as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two-day meeting tomorrow. The U.S. currency was 0.2 percent from its lowest in 11 months versus the euro before a report today forecast to show confidence among U.S. consumers declined this month.

â– The dollar traded at $1.3440 per euro as of 3:03 p.m. in Tokyo from $1.3456 in New York. It reached $1.3479 per euro on Jan. 25, the weakest level since Feb. 29, 2012.

■AUD/USD The so-called Aussie dollar rose against 14 of its 16 major counterparts after data showed the nation’s business confidence for December rebounded by the most in more than a decade.

■Australia’s dollar rose 0.4 percent to $1.0454 from the close yesterday when it touched $1.0385, the least since Jan. 2

â– USD/CAD The Canadian dollar traded close to a six-month low versus its U.S. counterpart as signs of slower economic growth weighed on demand.

â– The loonie, as the Canadian dollar is called for the image of the aquatic bird on the C$1 coin, was little changed at C$1.0063 per U.S. dollar at 5 p.m. in Toronto, after reaching its lowest point since July 26. One loonie buys 99.37 U.S. cents.

Commodities

â– Oil traded near the highest level in four months in New York on signs of economic growth in the U.S. and after OPEC Secretary General Abdalla El-Badri said prices are unlikely to drop this year.

â– Crude for March delivery was at $96.72 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 1:22 p.m. Singapore time. The average volume of all contracts traded was 50 percent below the 100-day average. Futures rose to $96.44 yesterday, the highest since Sept. 17.

â– Brent for March settlement rose 10 cents to $113.58 a barrel on the London-based ICE Futures Europe exchange. The average volume of all contracts traded was 40 percent below the 100-day average. The European benchmark grade was at a premium of $16.86 to West Texas Intermediate futures, from $17.04 yesterday.

â– Gold holdings in exchange-traded products are poised for the biggest monthly decline in more than a year as signs that the global economic recovery is strengthening curb demand for haven investments.

â– Gold for April delivery gained as much as 0.4 percent to $1,661.50 an

ounce, and traded at $1,660.40 at 1:11 p.m. in Singapore. Futures fell

0.9 percent this year, lagging behind gains in silver, platinum and

palladium, metals used mainly in industry that benefit from faster

economic growth.

Equities

■Asian stocks rose, with the regional benchmark index headed for its biggest gain in a week, as Japan’s largest lenders jumped on speculation a recent share rally will boost profit. Australia’s market climbed after a holiday and Korean shares rebounded from yesterday’s loss.

■The MSCI Asia Pacific Index rose 0.9 percent to 132.5 as of 3:33 p.m. in Tokyo, headed for its biggest advance since Jan. 18, with more than twice as many shares rising as declining. The gauge jumped 9.6 percent from Nov. 14 through yesterday, led by Japanese shares on optimism Prime Minister Shinzo Abe’s new government will take the necessary steps to fight deflation.

■U.K. stocks rose, extending their highest level since May 2008, as a report showed that durable- goods orders in the U.S., Britain’s biggest trading partner, rose at a faster rate than economists had estimated.

■The FTSE 100 added 9.96 points, or 0.2 percent, to 6,294.41 at the close in London. The equity benchmark has gained 6.7 percent so far in 2013, its best start to a year since 1989, as U.S. lawmakers agreed on a compromise budget. The broader FTSE All-Share Index rose 0.1 percent today, while Ireland’s ISEQ Index was little changed.

■U.S stocks fell, following the longest rally for the Standard & Poor’s 500 Index since 2004, as a drop in pending home sales overshadowed a rise in durable- goods orders while investors watched earnings.

â– The S&P 500 fell 0.2 percent to 1,500.18 at 4 p.m. in New York. The equity benchmark closed above 1,500 last week for the first time since December 2007 after an eight-day rally.

â– The Dow Jones Industrial Average lost 14.05 points, or 0.1 percent, to 13,881.93 today. The Nasdaq 100 Index added 0.2 percent to 2,742.43. About 6.1 billion shares traded hands on U.S. exchanges today, or 1.1 percent below the three-month average.

[acfx]

Daily Market Outlook

Posted by on January 30, 2013

Important Financial Indicators of the day Forecast Previous

EUR Tentative Italian 10 Yr Bond Auction 4.48/1.5

USD 15:15 (GMT) ADP Non Farm Employment Change 164K 215K

USD 15:30 (GMT) Advance GDP q/q 1.1% 3.1%

USD 21:15 (GMT) FOMC Statement

NZD 22:00 (GMT) Official Cash rate 2.50% 2.50%

NZD 22:00 (GMT) RBNZ Rate Statement

Currencies

â– USD/JPY The yen declined versus most of its major counterparts as Asian stocks rose for a second day, spurring investors to buy higher-yielding assets amid expectations Japan will expand monetary stimulus.

The yen slid 0.2 percent to 90.92 per dollar as of 2:39

p.m. in Tokyo. It lost 0.2 percent to 122.62 per euro. The

dollar traded at $1.3487, little changed from yesterday, when it

touched $1.3497, the lowest level since Dec. 2, 2011.

â– GBP/USD The pound strengthened from a five- month low against the dollar after Bank of England policy maker David Miles said U.K. economic growth is likely to improve to between 2 percent and 2.5 percent a year within 18 months.

The pound appreciated 0.3 percent to $1.5741 at 4:30 p.m.

London time after dropping to $1.5675 yesterday, the lowest

level since Aug. 17. The U.K. currency gained 0.2 percent to

85.56 pence per euro after declining to 85.87 pence yesterday,

the weakest since December 2011.

â– USD/CAD The Canadian dollar posted its

biggest gains against its U.S. counterpart in almost a month

after four straight days of losses as the currency failed to

fall below a key technical level.

The loonie, as the Canadian dollar is known for the image

of the aquatic bird on the C$1 coin, rose 0.5 percent to

C$1.0009 per U.S. dollar at 5 p.m. in Toronto, it’s largest gain

since Jan. 2. It matched an almost six-month low yesterday and

last traded weaker than C$1.01 on July 27. One loonie buys 99.91

U.S. cents

Commodities

â– Oil traded near the highest level in

four months before a Federal Reserve policy statement that may

signal the central bank will keep adding economic stimulus in

the U.S., the world’s biggest crude user.

WTI crude for March delivery was at $97.52 a barrel, down 5 cents, in electronic trading on the New York Mercantile Exchange at 1:25 p.m. Singapore time. The volume of all futures traded was 51 percent below the 100-day average. Futures rose to $97.57 yesterday, the highest since Sept. 14, and are up 6.2 percent in January.

Brent for March settlement rose 6 cents to $114.42 a barrel

on the London-based ICE Futures Europe exchange. The volume of

all futures traded was 25 percent below the 100-day average. The

European benchmark grade was at a premium of $16.77 to West

Texas Intermediate futures, from $16.79 yesterday.

â– Gold headed for a fourth decline after data from the U.S. to China added to signs of a recovery, paring demand for haven assets. Palladium advanced to a 16-month high.

Gold gained 0.1 percent to $1,666.05 an ounce,

trimming January’s drop to 0.6 percent, the worst run since May.

Equities

â– Asian stocks rose, with the benchmark index poised for is highest close since August 2011, as Japanese shares surged on earnings and amid speculation the Federal Reserve will renew its commitment to asset purchases.

The MSCI Asia Pacific Index gained 0.7 percent to 133.44 as

of 2:19 p.m. in Tokyo, with more than twice as many stocks

climbing as falling. The gauge is poised to advance for a third

month as Japanese shares rally on optimism Prime Minister Shinzo

Abe’s new government will add stimulus to fight deflation.

â– European stocks rose to the highest

level in more than 23 months as companies reported earnings and

a report showed house prices in 20 U.S. cities increased.

The Stoxx Europe 600 Index added 0.3 percent to 290.3 at the close in London, the highest level since Feb. 18, 2011. The index has climbed 3.8 percent so far this year amid optimism about company earnings and as U.S. lawmakers agreed on a compromise budget to avoid automatic fiscal-reduction measures.

â– U.S stocks advanced, sending the Dow Jones Industrial Average to a five-year high,

as companies including Pfizer Inc. and Valero Energy Corp. reported

earnings that beat estimates.

The Standard & Poor’s 500 Index rose 0.5 percent to 1,507.84 at 4

p.m. in New York. The Dow added 72.49 points, or 0.5 percent, to

13,954.42, the highest level since October 2007. About 6.9 billion

shares traded hands on U.S. exchanges today, or 12 percent above the

three-month average.

[acfx]

Daily Market Outlook

Posted by on January 31, 2013

Important Financial Indicators of the day Forecast Previous

CAD 15:30 (GMT) GDP m/m 0.2% 0.1%
USD 15:30 (GMT) Unemployment Claims 362K 330K

Currencies
■EUR/USD The euro may strengthen further against the dollar as the region’s economy exceeds forecasts, said Alan Ruskin, global head of Group of 10 foreign-exchange strategy at Deutsche Bank AG in New York.
The 17-nation euro gained 0.5 percent to $1.3553 per euro
at 9:45 a.m. New York time and topped $1.35 for first time since
December 2011. The 17-nation shared currency has strengthened
2.8 percent against the dollar this month.

â– AUD/USD slid against most
of its 16 major counterparts as Asian stocks declined, sapping
demand for higher-yielding assets.
Australia’s dollar dropped 0.3 percent to $1.0390 as of
3:58 p.m. in Sydney and is little changed this month. New
Zealand’s currency, known as the kiwi, fell 0.1 percent to 83.50
U.S. cents, paring a monthly gain to 0.8 percent.

â– USD/CAD traded close to a
six-month low versus its U.S. counterpart as data showed the
economy of the nation’s largest trading partner unexpectedly
shrank in the fourth quarter.
The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, was little changed at
C$1.0014 per U.S. dollar at 5 p.m. in Toronto after earlier
falling 0.4 percent to C$1.0053. One loonie buys 99.86 U.S.
cents. The currency touched C$1.01 on Jan. 28, the weakest level
since July 27.

Commodities
■Oil traded near the highest price in more than four months in New York as the Federal Reserve maintained an asset-purchase program to boost the economy of the world’s biggest crude-consuming nation.
Crude for March delivery was $97.92 a barrel, down 2 cent, in electronic trading on the New York Mercantile Exchange at 1:52 p.m. Singapore time. The average volume of all contracts traded was 59 percent below the 100-day average. Futures rose 37 cents to $97.94 yesterday, the highest close since Sept. 14. Prices are up 6.7 percent in January and poised for a third monthly gain, the longest run since April 2011.
Brent for March settlement climbed 21 cents to $115.11 a
barrel on the London-based ICE Futures Europe exchange. The
average volume of all contracts traded was 33 percent below the
100-day average. The European benchmark grade was at a premium
of $17.16 to West Texas Intermediate futures, from $16.96
yesterday.

â– Gold climbed for a third day toward
a one-week high after data showed that the U.S. economy
unexpectedly shrank and the Federal Reserve maintained asset
purchases. Platinum headed for the best month in a year.
Spot gold gained as much as 0.2 percent to $1,680.80 an ounce, and traded at $1,679.55 at 1:13 p.m. in Singapore. Bullion climbed as much as 1.2 percent yesterday to $1,683.28, the highest price since Jan 24. The metal is poised to snap three months of losses. Platinum, the best-performing precious metal this year, has jumped 9.4 percent this month in the biggest advance since January 2012.

Equities
■Asian stocks swung between gains and losses on the busiest day of Japan’s earnings season, after the country’s industrial production missed estimates and U.S. growth unexpectedly stalled. Kawasaki Heavy Industries Ltd. (7012) jumped after raising its profit forecast.
The MSCI Asia Pacific Index rose less than 0.1 percent to 133.33 as of 3:01 p.m. in Tokyo, after falling as much as 0.4 percent. About an equal number of stocks declined as gained. Japan’s Nikkei 225 Stock Average (NKY) climbed 0.2 percent, reversing earlier losses in the last 17 minutes of trading.

â– European stocks dropped the most this year as Saipem (SPM) SpA plunged and a report showed that the U.S. economy unexpectedly contracted in the fourth quarter.
The Stoxx Europe 600 Index lost 0.6 percent to 288.63 in London, falling from its highest level since Feb. 18, 2011. The gauge has still jumped 3.2 percent in January, heading for its longest streak of monthly gains since 1997.

â– U.S stocks fell, dragging benchmark indexes from five-year highs, as the Federal Reserve said it will maintain its program to buy securities after the economy unexpectedly shrank in the fourth quarter.
The S&P 500 fell 0.4 percent to 1,501.96 at 4 p.m. in New York. The Dow Jones Industrial Average lost 44 points, or 0.3 percent, to 13,910.42. Both measures yesterday reached their highest levels since 2007. The Russell 2000 Index slid 1.2 percent, falling from yesterday’s record high. About 6.8 billion shares traded hands on U.S. exchanges today, or 9.5 percent above the three-month average

[acfx]

Daily Market Outlook

Posted by on February 1, 2013

Important Financial Indicators of the day Forecast Previous

GBP 11:30 (GMT) Manufacturing PMI 51.0 51.4
USD 15:30 (GMT) Non farm Employement Change 161K 155K
USD 15:30 (GMT) Unemployement Rate 7.8% 7.8%
USD 17:00 (GMT) ISM Manufacturing PMI 50.8 50.7

Currencies
â– AUD/USD The Australian dollar fell, erasing
earlier gains, after growth in Chinese manufacturing trailed
economists’ estimates, damping trade prospects.
Australia’s dollar declined 0.3 percent to $1.0392 at 4:27
p.m. in Sydney, after rising as much as 0.2 percent. The so-
called Aussie bought 95.78 yen and touched 95.84, the highest
since August 2008. Australia’s currency dropped to NZ$1.2350,
the lowest since August 2011, before trading at NZ$1.2352, 0.6
percent below yesterday’s close.

â– USD/JPY The yen fell to its lowest in 2 1/2 years against the dollar and euro amid speculation Prime Minister Shinzo Abe is nearing selection of a new Bank of Japan (8301) governor who will boost monetary stimulus to spur inflation.
The yen sank 0.5 percent to 92.20 per dollar as of 1:52 p.m. in Tokyo, after earlier touching 92.27, the weakest since June 2010. It slid to 125.72 per euro, the least since May 2010, before trading at 125.59, 0.8 percent lower than yesterday’s close.

â– USD/CAD The Canadian dollar was worth more
than its U.S. counterpart for the first time in a week after a
government report showed the economy grew faster than forecast
in November.
The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, rose 0.4 percent to 99.72
cents per U.S. dollar at 5:02 p.m. in Toronto. The last time it
closed stronger than parity was Jan. 23. One loonie buys
$1.0028.

Commodities
■Oil headed for the longest run of weekly gains in more than eight years in New York before a report that may show the U.S. added jobs last month, signaling an economic recovery in the world’s biggest crude consumer.
Crude for March delivery was at $97.52 a barrel, up 3 cents, in electronic trading on the New York Mercantile Exchange at 12:51 p.m. Singapore time. The volume of all contracts traded was in line with the 100-day average. Futures slid 45 cents to $97.49 yesterday. Prices are up 1.7 percent this week.
Brent for March settlement climbed 27 cents to $115.82 a barrel on the London-based ICE Futures Europe exchange yesterday. The volume of all contracts traded was 35 percent above the 100-day average. The European benchmark grade was at a premium of $18.30 to WTI futures, up from $18.06 yesterday.

â– Gold extended the longest run of
monthly losses since May before a report that may show U.S.
employers added jobs last month, reducing the appeal of bullion
as a haven. Platinum was set to snap four weeks of gains.
Spot gold fell as much as 0.2 percent to $1,660.45 an
ounce, and traded at $1,661.45 at 1:30 p.m. in Singapore,
dropping for a second day. Gold retreated 0.7 percent in January
for a fourth monthly drop. Platinum, down 1.2 percent this week,
fell after a 9 percent gain last month that was the best showing
in a year.

Equities
■Asian stocks swung between gains and losses, with the regional benchmark index paring a weekly advance, after a gauge of China’s manufacturing unexpectedly fell. Japanese shares advanced on earnings and a weaker yen
The MSCI Asia Pacific Index slid 0.2 percent to 132.99 as
of 1:37 p.m. in Tokyo after rising as much as 0.3 percent. About
five stocks climbed for every four that slid. The measure is
headed for a 1 percent advance this week and is trading near the
highest since August 2011. Shares pared losses after a separate
report focusing on smaller manufacturers signaled growth.

â– European stocks fell for a second day, paring their biggest monthly advance since July, as companies from AstraZeneca Plc to Banco Santander SA (SAN) slid after reporting earnings
The Stoxx Europe 600 Index (SXXP) retreated 0.5 percent to 287.22 at the close, as more than two stocks fell for every one that rose. The equity benchmark has still advanced 2.7 percent in January, its eighth month of gains and its longest winning streak since 1997.

■U.S stocks fell, trimming the best January rally for the Dow Jones Industrial Average since 1994, on disappointing earnings as investors weighed economic data ahead of tomorrow’s jobs report.
The Standard & Poor’s 500 Index fell 0.3 percent to 1,498.11 at 4 p.m. in New York. The Dow lost 49.84 points, or 0.4 percent, to 13,860.58. About 7.1 billion shares traded hands on U.S. exchanges today, or 16 percent above the three-month average.

[acfx]

Daily Market Outlook

Posted by on February 5, 2013

Important Financial Indicators of the day Forecast Previous

GBP 11:30 (GMT) Services PMI 49.8 48.9
USD 17:00 (GMT) ISM Non-Manufacturing PMI 55.2 56.1

Currencies

â– EUR/USD The euro fell against the yen,
following yesterday’s drop which was the biggest since June,
amid corruption allegations against Spanish Premier Mariano
Rajoy and uncertainty ahead of Italian elections this month.

The euro fell 0.2 percent to 124.59 yen as of 1:58 p.m. in
Tokyo from yesterday, when it dropped 1.4 percent, the most
since June 25. It declined 0.2 percent to $1.3488. The yen was
little changed at 92.37 per dollar after yesterday falling as
low as 93.18, the weakest since May 13, 2010.

■AUD/USD Australia’s dollar fell against all of its major peers, erasing earlier gains, after the central bank signaled it’s prepared to cut interest rates to a record- low this year after holding them unchanged today.

The Aussie fell 0.3 percent to $1.0404 at 4:50 p.m. in Sydney from yesterday, after earlier climbing as much as 0.2 percent. It declined 0.3 percent to 96.12 yen, after touching 97.08 in New York, the highest since August 2008. New Zealand’s kiwi dollar slid 0.1 percent to 84.20 U.S. cents from yesterday. It was down 0.1 percent at 77.80 yen.

■GBP/USD The pound appreciated from the weakest level in 15 months against the euro as political turmoil pressured Spanish and Italian government bonds and boosted the relative appeal of Britain’s currency.

The pound strengthened 1.1 percent to 85.98 pence per euro
at 4:49 p.m. London time after depreciating to 87.17 pence on
Feb. 1, the weakest since Oct. 31, 2011. Sterling advanced 0.3
percent to $1.5746 after declining 0.7 percent last week

Commodities

■Oil traded near the lowest level in more than a week in New York, after sliding the most in two months, before a report that may show rising stockpiles in the U.S., the world’s biggest crude consumer.

Crude for March delivery was at $96.11 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 1:44 p.m. Singapore time. The volume of all futures traded was 57 percent above the 100-day average. The contract slid $1.60 yesterday to $96.17, the lowest close since Jan. 25 and the biggest decrease since Dec. 6. that may show rising stockpiles in the U.S., the world’s biggest crude consumer.

Brent for March settlement declined 40 cents to $115.20 a
barrel on the London-based ICE Futures Europe exchange. The
volume of all futures traded was 68 percent above the 100-day
average. The European benchmark grade was at a premium of $19.10
to West Texas Intermediate futures, from $19.43 yesterday.

Equities

â– Asian stocks fell, dragging the
regional benchmark equities index down from an 18-month high,
amid renewed concern about Europe’s debt crisis.

The MSCI Asia Pacific Index (MXAP) slid 0.7 percent to 132.72 as of 11:38 a.m. in Hong Kong, with almost four stocks falling for each that rose

â– European stocks U.K. stocks tumbled the most in almost three months as Vodafone Group Plc retreated and Spanish and Italian bonds declined amid political uncertainty in both Mediterranean countries.

The FTSE 100 lost 100.4 points, or 1.6 percent, to 6,246.84 at the close in London, its biggest drop since Nov. 7. The equity benchmark has still gained 5.9 percent in 2013, its best start to a year since 1998, as U.S. lawmakers agreed on a compromise budget. The broader FTSE All-Share Index retreated 1.5 percent today, while Ireland’s ISEQ Index lost 1 percent.

■U.S stocks fell, driving the Standard & Poor’s 500 Index to its biggest decline since November, on concern that the European debt crisis may intensify.

The S&P 500 slipped 1.2 percent, the most since Nov. 14, to 1,495.71 in New York, after reaching a five-year high last week. The Dow (INDU) Jones Industrial Average lost 129.71 points, or 0.9 percent, to 13,880.08. More than 6.3 billion shares traded handed on U.S. exchanges today, in line with the three-month average.

[andecolink]

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regional and national market forces on what happens in our own backyard.

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AUD/USD Australia's dollar fell after data showed
retail sales unexpectedly contracted in March, adding to speculation a
weakening economy

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