Hermex

Foreign exchange services – Market Update

hermexwmagh1 — Wed, 08 Feb 2012 11:40:52 +0000

Equity Indices:
Europe: European indices fell for a second day as the STOXX Europe 600 index dropped 0.3% to 263.55 and the DAX in Frankfurt declined 10.63 points to close at 6754.20. Greek policymakers have yet to decide how to re-capitalise banks and to come to agreement with its creditors, even after Greek policymakers have already agreed to make further cuts this year equal to 1.5% of GDP. Europe’s indices also reacted to German data showing that Industrial output unexpectedly dropped the most in three years in December as Europe’s debt crisis weighed on confidence.

FTSE: The FTSE also fell 1.94 points after marginally closing lower at 5890.26.
U.S.: Stocks across the Atlantic advanced as the Dow Jones finished 33.07 points to 12878.20, the S&P 500 advanced 2.61 points to 1346.94, and the NASDAQ was up 2.09% to 2904.08. U.S. consumer credit rose to USD$ 19.3 Billion, higher than forecasts after U.S. consumer looked to take on more debt.

EUR: The Euro was lower versus the Pound and the U.S. Dollar in the early part of yesterday’s trade, however the single currency rebounded after a report said that Greece’s government was drafting an agreement for political leaders to approve austerity measures which are demanded in order to receive a EUR€ 130 Billion rescue package.

USD: The U.S. Dollar fell sharply versus the Euro and the Pound after the U.S. Federal Reserve Chairman maintained a cautious tone in testimony before Congress and did not refer to a surprisingly strong U.S. jobs data released last week.

Gold/Oil:
Gold: Gold advanced 1.47% to close at $1745.62/ounce.

Oil: Crude oil also advanced 1.77% to close at $98.63/barrel.

Equity Indices: 07/02/12 Closing Prices

FTSE	5890.26	-1.94	-0.03%
DJI	12878.20	+33.07	+0.26%
S&P 500	1347.05	+2.72	+0.20%
NASDAQ	2904.08	+2.09	+0.07%
NIKKEI	9015.59	+98.07	+1.10%
HANG SANG	21012.20	+313.02	+1.51%

BBA Libor: (Fixed 07/02/12)

Period	GBP	EUR	USD
ON	0.56500	0.28143	0.14400
SW	0.61156	0.33286	0.19500
2W	0.64406	0.38214	0.22100
1M	0.76256	0.60071	0.25700
2M	0.87650	0.78357	0.38100
3M	1.07706	1.01786	0.52000
6M	1.39150	1.33857	0.76600
9M	1.65538	1.52529	0.91330
12M	1.89238	1.69214	1.08020

Economic Data: (Thursday 08/02/12)
GER: Trade Balance (Dec) 07:00 GMT
US: Mortgage Market Index (W/k) 12:00 GMT
US: MBA Purchase Index (w/k) 12:00 GMT

This report is intended to act as a summary of Foreign Exchange and interest rate-related news stories only. It should not be relied upon as research for investment or speculation. This document does not constitute a solicitation, offer, or recommendation to make any investment choices and should not be construed as such. The information in this document is based on information obtained from sources believed by Hermex International Ltd [Hermex] to be reliable, but which Hermex have not verified independently. All figures, charts and graphs used are proprietary data and available to any independent. Except in the case of fraudulent misrepresentation, Hermex does not represent or warrant, nor accepts liability, as to the sufficiency or accuracy of the information in this document or for any direct, indirect or consequential loss arising from the use of this document.

Foreign exchange services – Market Update

hermexwmagh1 — Tue, 07 Feb 2012 09:38:31 +0000

Equity Indices:
Europe: Stocks in Europe fell yesterday trimming some gains after most indices reached six-month highs. The STOXX Europe fell 0.1% to 264.27, the DAX in Frankfurt lost 0.03% to close at 6764.83, and the FTSE lost 8.87 points to close at 5892.20. Stocks were affected as Greece struggled to reach a deal despite Greece’s Prime Minister struck a tentative deal with the leaders of the three parties supporting his interim government to boost economic competitiveness and extend spending cuts. Greece’s policy-makers will meet today to work on the detail of plans for bank re-capitalisation, ensuring the viability of pension funds and measures to reduce wage and non-wage costs to boost competitiveness.

U.S. Markets: Stocks in the U.S. also fell with the Dow Jones losing 0.13% to 12845.13, the S&P 500 down 0.04% to 1344.33, and the NASDAQ down 0.13% to 2901.99.

Currencies:
EUR: The Euro fell yesterday on concern Greece’s political leaders will fail to reach an agreement allowing the Greece to receive a second bailout fund from international creditors.

GBP: The Pound advanced versus a struggling Euro, however the Pound fell slightly versus the U.S. Dollar.

Equity Indices: 06/02/12 Closing Prices

FTSE	5892.20	-8.87	-0.15%
DJI	12845.10	-17.10	-0.13%
S&P 500	1344.33	-0.57	-0.04%
NASDAQ	2901.99	-3.67	-0.13%
NIKKEI	8917.52	-11.68	-0.13%
HANG SANG	20699.20	-10.75	-0.05%

BBA Libor: (Fixed 06/02/12)

Period	GBP	EUR	USD
ON	0.56750	0.28143	0.14150
SW	0.61281	0.19550	0.22150
2W	0.64531	0.38857	0.22150
1M	0.76256	0.61143	0.25975
2M	0.87650	0.79500	0.38425
3M	1.07706	1.02214	0.52325
6M	1.39150	1.34214	0.76875
9M	1.65538	1.53286	0.91555
12M	1.89238	1.70000	1.08275

Economic Data: (Tuesday 07/02/12)
UK: Retail Sales (Jan) 00:01 GMT
GER: Industrial Output (Dec) 11:00 GMT
CA: Building Permits (Dec) 13:30 GMT
US: IBD Economic Optimism (Feb) 15:00 GMT
US: Consumer Credit (Dec) 20:00 GMT

Pound to Dollar Exchange Rates – GBP AUD Plummets To Multi-Decade Low AS RBA Cuts Interest Rates, Sterling Euro Steady

John Cameron — Tue, 07 Feb 2012 09:00:00 +0000

The Pound Euro exchange rate (GBP EUR) is 1.2037. The Pound Dollar exchange rate (GBP USD) is 1.5801. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4651. The Australian Dollar has surged overnight after the Reserve Bank of Australia announced that it was keeping its key lending rate on hold at 4.25%. The majority of analysts had anticipated that the RBA would continue its rate cutting cycle and trim interest rates to 4.00%. The GBP AUD exchange rate has plunged on the news, breaking to a new multi-decade low of 1.4618. However, the move may be short-lived, as the RBA’s accompanying statement hinted that a more accommodative monetary policy might be on the cards later in the year in order to promote domestic growth. Elsewhere, Greece’s debt situation shows little sign of improving. Comments from the country’s Finance Minister Evangelos Venizelos last night suggested that a resolution to the debt-addled state’s current woes remains a long way off. Venizelos described ongoing negotiations with representatives of the ‘Troika’, (the IMF, EU and ECB), as ‘tough’. He went on to suggest that events were overtaking his country’s administration, stating that, ‘as soon as one chapter closes another opens. Up to this point, the euro has eased in the currency markets, but has avoided a sharp sell-off. However, the longer Greek debt discussions fail to bear fruit, the more pronounced the pressure will become on Europe’s single currency. Such a scenario could see the Pound Sterling to Euro (GBP EUR) exchange rate break above January’s 16-month high of 1.2163, which remains a key level of resistance for the pair. For Pound to Euro currency exchange, other live foreign exchange rates and a money converter see the currency news website. Source here

SIPPs

Dollar Finds Relief in Dows Restraint after Friday’s Drive

John Kicklighter — Tue, 07 Feb 2012 05:25:00 +0000

Hope was high for those looking for risk trends to find momentum after Friday’s impressive close. With the Dow Jones Industrial Average closing at a near, four-year high and AUDUSD (representing carry interest) overtaking a multi-month of its o... Continue reading →

Foreign exchange services – Market Update

hermexwmagh1 — Mon, 06 Feb 2012 13:32:51 +0000

Equity Indices:
Europe: Stocks across Europe rose on Friday with the STOXX Europe 600 Index reaching levels not seen for six-months. The German DAX Index, amongst other key European Indices, advanced 1.67% to close to a six-month high at 6766.67. The FTSE also surged 1.81% adding 105 points to the index to close at 5901.07. Markets across the world surged after data in the U.S. showed that U.S. economy created more jobs in January than economists expected. The unexpected surge in jobs created for January showed that 243,000 increases in payrolls were the most since April dropping unemployment to 8.3%, the lowest since February 2009.

Currencies:
EUR: The Euro fell on Friday across most of its major counterparts as Greece has yet to resolve a debt-swap agreement with its creditors. The continuous drag on the subject has raised fears that Europe’s fiscal crisis is far from over. Traders and Investors will be looking at the interest rate decision from the European Central Bank as it forecast to leave interest rates at 1%.

GBP: The Pound gained versus a weaker Euro however fell versus the U.S. Dollar. The Pound lost earlier gains after the U.S. Labour Department reported that U.S. non-farm payrolls rose by 243,000, after a revised 203,000 gain in December.

Oil/Gold:
Oil: Crude Oil rose 1.54% to settle at 97.84/barrel. Crude rebounded after six-days of declines after the positive jobs numbers and speculation that tensions between Israel and Iran are escalating.

Gold: Gold fell sharply, losing 1.89% to settle Friday’s trade at 1726.25.

Equity Indices: 03/02/12 Closing Prices

FTSE	5901.07	+102	+1.81%
DJI	12862.20	+156.82	+1.23%
S&P 500	1344.90	+19.36	+1.46%
NASDAQ	2905.66	+45.98	+1.61%
NIKKEI	8929.20	+97.27	+1.10%
HANG SANG	20681.50	-75.48	-0.36%

BBA Libor: (Fixed 03/02/12)

Period	GBP	EUR	USD
ON	0.57125	0.28286	0.14200
SW	0.61438	0.33871	0.19550
2W	0.64688	0.39614	0.22250
1M	0.76413	0.62357	0.26050
2M	0.87681	0.80357	0.38600
3M	1.07738	1.03171	0.52700
6M	1.39181	1.35143	0.76850
9M	1.65569	1.54071	0.91680
12M	1.89269	1.70500	1.08400

Economic Data: (Monday 06/02/12)
Halifax House Prices (Jan) 08:00 GMT
EU: Sentix Index (Feb) 09:30 GMT
GER: Industrial Orders (Dec) 11:00 GMT
CA: Ivey PMI (Jan) 15:00 GMT
US: Employment Trends (Jan) 15:00 GMT

Foreign exchange services – Market Update

hermexwmagh1 — Thu, 02 Feb 2012 10:59:28 +0000

Equity Indices:
Europe: Stocks across Europe surged yesterday, starting the first day of February with solid gains. Some European stocks hit a six-month high yesterday as manufacturing data from large economies increased. Manufacturing PMI for the Euro-area rose 48.8 from 46.9 the prior month. China purchaser’s manager’s index for manufacturing also rose to 50.5 in January from 50.3 in December, raising investor’s appetite for risk.

UK: The FTSE jumped 109.11 points, or 1.92% to close at 5790.72 as UK manufacturing index surged to an eight-month high in January and unexpectedly returned to growth after a quarter of contraction as production rebounded.
US: Stocks across the Atlantic rose after four days of losses as U.S. manufacturing grew at the fastest pace since June and construction spending increased in December at the fastest pace in four months.

Currencies:
EUR: The Euro gained against the U.S. Dollar snapping a three day losing streak, as manufacturing PMI in Europe beat analysts estimates, adding signs that Europe’s economy is stabilizing. The single currency slightly gained versus the Pound on the back of Europe’s manufacturing PMI figures.
GBP: Despite slight losses versus the Euro, the Pound surged versus the U.S. Dollar as manufacturing figures across the world showed improvements which damped demand for safer assets.

Gold/Oil:
Gold: The precious metal gained 0.32% to close yesterday’s trade at $1743.08/ounce.

Oil: Crude oil fell 1.05% to $97.45/barrel as the commodity sank to a six-week low after an Energy Department report showed that U.S. inventories climbed more than expected and gasoline demand tumbled to a 10-year low.

Equity Indices: 01/02/12 Closing Prices

FTSE	5790.72	+109.11	+1.92%
DJI	12716.50	+83.55	+0.66%
S&P 500	1324.09	+11.68	+0.89%
NASDAQ	2848.27	+34.43	+1.22%
NIKKEI	8876.82	+67.03	+0.76%
HANG SANG	20761.70	+428.33	+2.11%

BBA Libor: (Fixed 01/02/12)

Period	GBP	EUR	USD
ON	0.57313	0.28286	0.13900
SW	0.62125	0.34443	0.19520
2W	0.65375	0.40543	0.22400
1M	0.76850	0.64143	0.26400
2M	0.88119	0.82271	0.39250
3M	1.08175	1.04943	0.53710
6M	1.39344	1.36643	0.77250
9M	1.65631	1.55714	0.92280
12M	1.89331	1.72000	1.09070

Economic Data: (Thursday 02/02/12)
UK: Construction PMI (Jan) 09:30 GMT
EU: Producer Prices (Dec) 10:00 GMT
US: Initial Jobless (w/k) 13:30 GMT
US: Continuous Jobless Claims (w/k) 13:30 GMT
US: Productivity (q4) 13:30 GMT

Euro At Risk Of Major Selloff, Sterling Strength To Gather Pace

David Song — Wed, 01 Feb 2012 14:10:00 +0000

Positive developments coming out of the euro-area propped up market sentiment on Wednesday, but the rise in risk-taking behavior may be short-lived as the heightening risk for contagion continues to dampen the outlook for the world economy. Continue reading →

Foreign exchange services – Market Update

hermexwmagh1 — Wed, 01 Feb 2012 10:16:46 +0000

Equity Indices:
Europe: European shares rose yesterday as most EU members agreed to tighter budget controls. The announcement came after Monday’s meeting between European Union leaders in Brussels agreed on a fiscal-discipline treaty that allows for sanctions on high-deficit states and requires members to enact laws to limit budget shortfalls. Amongst all member’s the UK and the Czech Republic refused to sign to the treaty. Markets in Europe also reacted to positive news from Portugal as the countries borrowing costs declined from yesterday’s euro-area high after Portugal’s prime minister said that his country’s debt has been judged “perfectly sustainable” by the EU ad IMF and there is no risk of write-downs on their bonds.

FTSE: The FTSE advanced 10.52 points, or 0.19% to close at 5681.61. Britain’s top share rose after the EU member’s announced they had agreed to tighter budget controls and that the European Stability Mechanism would be put into operation on July 1, a year ahead of schedule. UK data also encouraged investors and traders to buy equities after UK consumer confidence rose to the highest level in seven months in January.

US: Stocks in the U.S. fell yesterday, dropping for a fourth day as poor data in the U.S. derailed investor’s confidence. Data showed that U.S. consumer confidence failed to beat analyst’s estimates and business activity also fell in January.

Currencies:
EUR: The Euro fell yesterday versus most of its major counterparts. The Euro rebounded from earlier gains after yesterday’s EU leaders meeting ended with a voice of frustration from German Chancellor, Angela Merkel that Athens has failed to overhaul the Greek economy. The ongoing negotiations have failed to come to a conclusion with Greece’s pledged a last-ditch effort to prevent the collapse of a second rescue package from creditors.

GBP: The Pound rose versus the Euro and the U.S. Dollar yesterday. The Pound rose to a 10-week high versus the U.S. Dollar as investors and traders bought the high-risk currency with optimism that EU leaders are moving closer towards resolving the region’s debt crisis.

Equity Indices: 31/01/12 Closing Prices

FTSE	5681.61	+10.52	+0.19%
DJI	12632.90	-20.81	-0.16%
S&P 500	1312.41	-0.60	-0.05%
NASDAQ	2813.84	+1.90	+0.07%
NIKKEI	8809.79	+7.28	+0.08%
HANG SANG	20333.40	-57.12	-0.28%

BBA Libor: (Fixed 31/01/12)

Period	GBP	EUR	USD
ON	0.57438	0.28286	0.13950
SW	0.62250	0.34786	0.19650
2W	0.65375	0.41114	0.22550
1M	0.76850	0.65143	0.26475
2M	0.88119	0.83229	0.39445
3M	1.08300	1.05929	0.54235
6M	1.39344	1.37643	0.77825
9M	1.65719	1.56714	0.92730
12M	1.89331	1.72857	1.09570

Economic Data: (Wednesday 01/02/12)
UK: Nationwide House Prices (Jan) 07:00 GMT
GER: Manufacturing PMI (Jan) 09:00 GMT
EU: Manufacturing PMI (Jan) 09:00 GMT
UK: Manufacturing PMI (Jan) 09:30 GMT
EU: Inflation (Jan) 10:00 GMT
US: Mortgage Market Index (w/k) 12:00 GMT
US: ADP National Employment (Jan) 13:15 GMT
CA: Manufacturing PMI (Jan) 15:00 GMT
US: Construction Spending (Dec) 15:00 GMT
US: ISM Manufacturing (Jan) 15:00 GMT

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FOREX: Dollar on the Defensive But Selling Pressure Unlikely to Last

Ilya Spivak — Tue, 31 Jan 2012 08:39:00 +0000

The US Dollar is facing selling pressure as a robust pick-up in risk appetite across financial markets weighs on haven demand but optimism appears highly fragile. Continue reading →

The Long Term Bull Market E Wave Count

David Banister — Mon, 30 Jan 2012 22:44:09 +0000

I have to be honest that I am grappling with a few possible counts since the March 2009 Bull market commenced in terms of the big picture. Most of the time I go with my instinct and then only adjust if it looks like I was way off the tracks. The only time I tend to get way off the tracks is when I read too many opinions, so I’ve shut myself off from reading other’s opinions and below is my gut right now: I know I have labeled one option as the 1074 lows being primary wave 2, with primary wave 3 underway since (1074 to current). However, I have to admit my instincts still tell me that the 1074 lows may have been primary wave 4, and we are in primary wave 5 up now. Whether it was 2 or 4 is not super important short term because we would either be in a Primary 3 up or Primary 5 up now which is bullish either way. However… if it’s a primary 5 up, then it changes the longer term pictures and also 5th waves can be difficult to assess. There is another rule that says wave 3 can’t be the shortest of waves 1, 3 and 5 (All up waves). Therefore, if we are in primary 5 up now from the 1074 lows then we can’t rally more than 360 points from the 1074 lows (Wave 3 was 360 points). So here is the possible count if this is Primary 5 from the March 2009 lows with normal fibonacci relationships: 666 to 1221- 1 1221-1010- 2 (38% of 1) 1010-1370- 3 (61.8% of 1) 1370-1074- 4 (38% of 1-3) 1074-??? – 5 (Normally 50-61% of 1-3) So if wave 5 cant be longer than wave 3, and let’s say wave 5 is 50% of waves 1-3… that would put a top target at about 1426 on the SP 500 index. That would make wave 5 just shorter than wave 3 following the rules and would complete 5 full waves. So that is what I’m grappling with because if this is a primary wave 5 up from the Oct 2011 lows of Primary 4… then we would need to be on our toes for a bull market pivot top. If its primary wave 3 up , then we have much further to stretch. Right now, the evidence is leaning to this being primary 5 up… below is my chart and I will keep you updated. The volume, MACD, and other indicators will help point the way. Note how the volume has been declining on every primary wave rally 1, 3, and 5 so far. Note how the MACD line uptrends on each primary wave rally as it is now… Stay tuned: http://www.jameskatz.com Relevant Search Results
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