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Thursday September 30, 2010 - 03:39:42 GMT
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Morning Briefing : 30-Sep-2010 - 0336 GMT

GOOD MORNING!


EQUITIES
The US Equities were down yesterday. The investors were worried as fresh protests threatened to derail the austerity measures and worsen the economic crises in Europe. The Dow (10835.28) was down 0.21% and the S&P 500 (1144.73) was down 0.26%. Today is the last trading day of the month and we need to see if the markets close above or below the important region of 10770 today.

The Asians are mixed today. The Nikkei (9494.67, down 0.68%) is trading lower following a 0.3% decline in industrial output for the month of August, coupled with stronger Yen. The Shanghai (2638.98) is up 1.08% on hopes that the current property tightening may end soon. The Nikkei may fall towards 9300 while the Shnaghai may continue to be ranged in the coming days. In India, the The Sensex (19956.34) and the Nifty (5991.30) closed down about 0.70% yesterday. The markets may move in the region of 19900-20200 before we see any significant move on the upside.


COMMODITIES
Crude (77.76) has risen sharply yesterday following the EIA's data release that showed a drop in US Crude inventories. Important Resistance is seen in 79-80 region which is expected to be tested in the coming days. Support is seen in 75-74 region.

Gold (1306.60) is retaining its strength and is continuing to trade above 1300. The overall bullish sentiment is intact for a rise towards 1320-50 in the coming days.


CURRENCIES
Dollar is continuing to trade weak. Euro (1.3606) is continuing to trade higher and while above 1.3500 we might see further rise towards 1.3800. Dollar-Yen (83.57) is retaining its downtrend and see a dip towards 83 once again. Whether the BOJ will intervene once again at these levels remains a big question. The Euro-Yen (113.74) Cross is retaining its strength and is inching up slowly. A strong break above 114 might see 115-116 on the upside.

Dollar-Swiss (0.9774) has been ranged from the past few sessions and we may see it move sideways followed bya some upmove towards 0.9800-50 in the coming sessions today. Aussie (0.9676) may see some fall towards 0.9550 today. Cable (1.5838) may see some sideways movement followed by a dip in the coming sessions today.

The Asian currencies are continuing to trade strong. The Korean-Won is trading near 1140 and the USD-SGD is trading near 1.3161. Dollar-Rupee is retaining its current downtrend and has closed lower yesterday at 44.93/94. The market is closed today on account of Half Yearly Bank Closing.


INTEREST RATES
The 3M USD LIBOR was unchanged at 0.29%. The 2Y yields were unchanged at 0.43% while the 10Y yields were up 1 bps to quote at 2.48%.

DATA TODAY
12:30 GMT US GDP Q2 '10 (Fnl)
...Expected 1.6%...Previous 1.6%

12:30 GMT CA GDP
...Expected -0.1%...Previous 0.2%

 

DATA YESTERDAY
JP Tankan Large Manufacturers Index
...Actual 8...Previous 1
http://www.kshitij.com/fundamentals/funcharts/jptankan.shtml

EU Biz Climate
Actual 103.2 ...Previous 102.3

 

Forex Trading News

Forex Research

Daily Forex Market News
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.

Forex News
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
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

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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

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




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