ACM - Asian Session Snap shot (17/07/09)

Asian Snap: Yen rises on Jakarta blasts – Stocks choppy into the weekend.

Snap-Shot

17 July 2009 - 10:18 CEST
G10 Advancers and Decliners vs USD NZD 0.010 CAD -0.028 NOK -0.097 JPY -0.101 DKK -0.232 CHF -0.233 EUR -0.245 AUD -0.271 SEK -0.591 GBP -0.753 Global indexes Current level % Change Nikkei 225 Index 9395.32 + 0.55 Hang Seng Index 18843.97 + 2.63 Shanghai Index 3189.74 + 0.19 FTSE 100 Index 4385.73 + 0.55 DAX Index 4997.23 + 0.81 DJIA futures 8711.82 + 1.11 Nasdaq futures 1885.03 + 1.19 World markets Current level % Change Gold 936.68 - 0.07 Silver 13.27 - 0.28 VIX 25.42 - 1.82 Crude wti 61.69 - 0.53 USD Index 79.536 + 0.37 Todays calender Estimates Previous Country / GMT EURO Zone Trade Balance 0.0B 2.7B EUR / 09:00 CAD Consumer Price Index -0.3% 0.1% CAD / 11:00 CAD CPI 1.9% 2.0% CAD / 11:00	Currency Tech AUDUSD R 2: 0.8155 R 1: 0.8035 CURRENT: 0.7996 S 1: 0.7700 S 2: 0.7630 EURJPY R 2: 134.80 R 1: 132.82 CURRENT: 131.95 S 1: 127.82 S 2: 126.98 AUDJPY R 2: 76.022 R 1: 75.205 CURRENT: 74.88 S 1: 73.204 S 2: 71.476 Market Brief Asian markets traded with some consternation this morning as unrest in Jakarta tended to unsettle investors sending the Yen higher on risk aversion. This further exacerbated the fears that lender CIT was imminently close to bankruptcy. This said the recent optimism in markets on the back of strong earning's numbers, a solid GDP reading and manufacturing data was still present while investors read into "Dr. Gloom" – Pr. Nouriel Roubini's comments on the recession. Roubini who predicted the recession said his comments that the crisis was almost over were "taken out of context" – he said things were improving but that we had some ways to go before we could call victory. The Australian government announced during the session that it had set a new monthly record by sell AUD 1.94Bn in the spot FX market as part of its "reserve management" during the month of June. The Aussie export price index also exceeded expectations coming in at -20.6% (cons.-16%, prev. -4.6%). As markets get thinner into the summer months we expect to stick to the ranges, however the low liquidity will mean any action by big players will have the potential to move markets violently – we suggest that clients take heed when trading, if in doubt stay out!
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