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Friday April 9, 2010 - 03:43:30 GMT
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Morning Briefing : 09-Apr-2010 - 0341 GMT

GOOD MORNING!


EQUITIES
The US Equities were up on account of better than expected Retail Sales and eased concern over Greece yesterday. The Dow (10927.07) was up 0.27% and the Nasdaq (2436.81) was up 0.23%. We continue to hold our view of a strong Resistance on the Dow near the 11000-100 region in the coming days.

The Asian Equities are flattish today. The Nikkei (11167.97) is flat, the Shanghai (3124.183) is up 0.18% and the Hang Seng (22060.29) is up 0.88%. The Nikkei has come down to trade near the important Resistance at 11200-50 in the past few sessions, and may move down further while below 11200. In India, the Sensex (17714.40) was down 1.42% and the Nifty (5304.45) was down 1.31%, yesterday. The Sensex is finding it diffiult to move beyond the Resistance near 18100-300 and may see further correction while below 18100.

In Australia, the All Ordinaries (4966.400) is up 0.12%.


COMMODITIES
Crude (85.78) has bounced back from yesterday's low of 84.38 taking Support from the weaker dollar. Immediate Resistance is seen at 86, a strong break above which might see 90+ levels on the upside. On the downside Support is seen at 84.

Gold (1151.30), is continuing to trade higher. As mentioned earlier, with Support at 1140-30 region there are good chances of a rise once again to 1200 in the coming days. To see the Gold graph click on the following link:
http://www.kshitij.com/graphgallery/goldcandle.shtml#candle


CURRENCIES
Decent recovery in the Euro (1.3358), the Pound (1.5270) and Dollar-Yen (93.43) overnight after ECB's Trichet said, "a default is not an issue for Greeceā€. As expected, the ECB had kept interest rates unchanged yesterday, as had the BOE.

Dollar-Swiss (1.0730) has come off a bit from yesterday's high near 1.0785 and might dip another 70-80 points towards 1.0650 while it remains below 1.0800. The Aussie (0.9280) has recovered strongly after dipping to 0.9220 yesterday. Looks bullish overall.

In Asia, the Won has appreciated tremendously to trade near 1118.60 on capital inflows and fears of Yuan revaluation. The Sing Dollar has also appreciated and trades near 1.3945. Quite likely, then, that Dollar-Rupee may also move down towards 44.20 today, after having closed at 44.46 yesterday.

INTEREST RATES
The 3M USD LIBOR was down 1 bps to be set at 0.29%. The 2Y yield was unchanged at 1.06% and the 10Y yield was up 2 bps to quote at 3.89%.

The BOE and the ECB left the rates unchanged at 0.50% and 1.00% respectively in their meet yesterday.


DATA TODAY
11:00 GMT Feb CA Labour Force
...Expected 25.2K...Previous 20.9K


DATA YESTERDAY
Mar Australia Labour Force
...Actual 19.6K...Previous -4.7K
http://www.kshitij.com/fundamentals/funcharts/aulab.shtml

EU Retail Sales
...Actual -0.6%...Previous -0.2%
http://www.kshitij.com/fundamentals/funcharts/euretail.shtml

BOE Mtg
...Actual 0.50%...Previous 0.50%
http://www.kshitij.com/fundamentals/funcharts/ukboe.shtml

E-15 ECB Announcement
...Actual 1.00%...Previous 1.00%
http://www.kshitij.com/fundamentals/funcharts/euecb.shtml

 

 

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Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

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Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Amazing Trader EVENT RISK Calendar:

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12:30 US- Housing Starts & Permits
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Fri 20 Oct
12:30 CA- Retail Sales & CPI
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  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



John M. Bland, MBA
co-founding Partner, Global-View.com

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