ACM - Asian Session Snap shot (16/07/09)

Asian Session: Strong U.S data and Chinese growth figures fuel global optimism.

Snap-Shot

16 July 2009 - 11:09 CEST
G10 Advancers and Decliners vs USD JPY 0.593 NOK 0.148 CHF 0.120 DKK 0.029 EUR 0.003 CAD 0.003 GBP -0.179 SEK -0.342 AUD -0.610 NZD -1.268 Global indexes Current level % Change Nikkei 225 Index 9344.16 + 0.81 Hang Seng Index 18395.81 + 0.75 Shanghai Index 3183.74 - 0.15 FTSE 100 Index 4346.48 0.00 DAX Index 4931.81 + 0.07 DJIA futures 8519 - 0.28 Nasdaq futures 1492.5 - 0.32 World markets Current level % Change Gold 937 - 0.23 Silver 13.275 0.00 VIX 25.89 + 3.48 Crude wti 61.65 + 0.18 USD Index 79.472 + 0.13 Todays calender Estimates Previous Country / GMT Initial Jobless Claims (JUL) 555K 565K US / 12:30 Continuing Claims 6850K 6883K US / 12:30 US Net Long-Term TIC Flows $16.5B $11.2B US / 13:00 Philadelphia Fed (Jul) -5 -2.2 US / 14:00	Currency Tech AUDUSD R 2: 0.8155 R 1: 0.8035 CURRENT: 0.7974 S 1: 0.7700 S 2: 0.7630 EURJPY R 2: 134.80 R 1: 132.82 CURRENT: 131.87 S 1: 127.82 S 2: 126.98 AUDJPY R 2: 76.022 R 1: 75.205 CURRENT: 74.801 S 1: 73.204 S 2: 71.476 Market Brief China's stock market value exceeded that of Japan's yesterday as the $585Bn stimulus package and scrapping of lending restrictions for banks helped trigger the revival and boost share prices. However the strong GDP figure reported by the National Bureau of Statistics was the focus in this morning's news as China is largely seen to be the main catalyst in the world's recovery from the worst recession in living memory. Q2 GDP tipped the scales at 7.9% - exceeding a 7.8% median forecast of 20 economists. This said, NBS Spokesman Li Xiaochao said China still faced difficulty in job creation and saw an eventual slowing of the current euphoria in the markets spurred on by the economic revival package. On a more global note, the flurry of positive data out of the U.S brought on a general rally in risk appetite, we saw a general slump in the Yen and Dollar – the main refuge currencies – that benefit from risk aversion. EURUSD culminated at 1.4134 – failing to break the current broad 1.3750 – 1.4150 range. USDJPY was met with the same dynamic, the Yen giving way to the comparatively risk prone Greenback. Both these pairs seem to have exhausted their immediate upward momentum; retracements to mid range are to be expected.
Stratregy Desk +41 (22) 593 62 90 strategy@ac-markets.com Dealing Desk: +41 (22) 319 22 02 dealingdesk@ac-markets.com Sales Desk +41 (22) 593 22 03 sales@ac-markets.com
All ACM staff (except dealing desk staff) are at your disposal to reply from 09:00-19:00 CET only. The telephone dealing desk is reserved for ACM customers only
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance. unsubscribe