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Thursday April 29, 2010 - 04:03:02 GMT
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Morning Briefing : 29-Apr-2010 - 0401 GMT

GOOD MORNING!


EQUITIES
The US Equities closed up yesterday. The Dow (11045.27) was up 0.48% and the Nasdaq (2471.73) was flat. The Dow is trading just below the crucial region of 11100-200 and a weekly close below 11100 may be bearish for the Dow going forward.

The Asian Equities are mixed today. The Shanghai (2907.16) is up 0.24% and the Hang Seng (20876.44) is down 0.35%. Japan is closed today on account of Emperor's Birth Day / Showa Day. In India, the Sensex (17380.08) and the Nifty (5215.55) were down about 1.75% yesterday. The Sensex and the Nifty are near important Support levels of 17300 and 5200 respectively. While 17300 holds, the Sensex may trade in the region of 17300-550 for the next couple of days. However, a strong break below 17300 may even see it going down towards 16500 in the coming weeks.

In Australia, the All Ordinaries (4821.90) is down 0.67% today.


COMMODITIES
In line with the modicum of stabilisation in stocks and currencies overnight, Crude (83.12) has rallied a bit from yesterday's low near 81.29 while Gold (1166) has come off a bit from yesterday's high near 1175.30. A dip to 1145 may we well worth buying.


CURRENCIES
Although the Euro (1.3215) rallied to 1.3265 overnight it has come off again from there. Expect relatively quieter trading today between 1.31-33. Dollar-Yen (93.95) too had risen to almost 94.32 in the US session yesterday. Expect a range of 93.40-94.40 today. The Euro-Yen Cross (124.10) has moved back into potentially bullish territory, rising from Tuesday's low near 122.35.

The Pound (1.5175) has, surprisingly, failed to capitalise on the Euro's woes and is trading lower rather than higher today, and may be in danger of falling towards 1.50. Dollar-Swiss (1.0855) rose to as much as 1.0920 yesterday and may target 1.10 in the coming days. The Aussie (0.9245) has recovered after having fallen to 0.9135 late Tuesday. The longer term outlook is not very clear.

In Asia, the Korean Won continues to trade relatively weak near 1115.40. The Sing Dollar has weakened to near 1.38 yesterday but has strengthened to 1.3721 today. On the whole it may gain towards 1.3445. Dollar-Rupee had closed at 44.64 yesterday but may dip towards 44.55-45 today.


INTEREST RATES
The 3M USD LIBOR was up 1 bps to be fixed at 0.34%. The 2Y and 10Y yields were up 3 bps and 6 bps to quote at 1.03% and 3.76% respectively.

The FOMC kept the Rates unchanged at 0.25% yesterday.

DATA TODAY
13:00 GMT US Weekly Unemployment Claims
...Expected 442K...Previous 456K


DATA YESTERDAY

AU CPI q/q
...Actual 0.9%...Previous 0.5%

US FOMC Interest Rate
...Actual 0.25%...Previous 0.25%
http://www.kshitij.com/fundamentals/funcharts/usfed.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:

Wed 18 Oct
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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