S&P500

Markets Up On US Retail And Job Market Data | July 8, 2011

July 8, 2011 By Vantage FX

The EURUSD finished the US session in positive territory after bouncing from a low of 1.4221

The Australian stock market is set for a solid open today as US stocks jumped higher overnight on the back of retail and job market data strengthening the confidence in the economy. The Dow finished 93 points higher to settle at 12719 while the S&P500 rose 14 points to 1353.

The EURUSD finished the US session in positive territory after bouncing from a low of 1.4221 after the ECB unsurprisingly raised their benchmark interest rate by 25 basis points to 1.5%, Jean-Claude Trichet the President of the ECB said in a speech after the announcement also eased some concerns about the region’s sovereign-debt problems Thursday, he said that the central bank would waive minimum ratings requirements to accept Portuguese debt as collateral.

GBPUSD was slightly weaker overnight settling at 1.5975 after trading as low at 1.5950 on the back of the BOE announcing that they were going to leave their interest rates at 0.5%

Gold was surprisingly steady overnight as it bucked an interest rate increase in Europe to rally for the third consecutive day encouraged by a weaker dollar and concerns about Portugal.

WTI Oil jumped over 2% in overnight trade Thursday, bouncing from a low of $97 to settle just below the $99 level, Brent crude doubled that gain and rose over 4.4% to finish at 118.59.

INDICES
	Last Traded
SPI 200	4616
S&P500 Index	1353
Dow Jones Indus. Avg	12719
FTSE 100 Index	6054

COMMODITIES
	Last Traded
Gold	1530
Oil (Nymex)	98.80

CURRENCIES
	Last Traded
AUDUSD	1.0768
EURUSD	1.4360
GBPUSD	1.5972
USDJPY	81.26

Filed Under: July Tagged With: AUDUSD, australian stock market, Bank of England, BOE, Central Bank, crude oil, currency trading, dollar, Dow, Dow Jones Indus. Avg, ECB, ECB President, Europe, european central bank, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, interest rate, Interest Rate rise, Jean-Claude Trichet, job market data, market wrap, Nymex, Oil, Portugal, Portuguese debt, retail data, S&P500, S&P500 Index, Sovereign Debt, SPI 200, US session, US stocks, USDJPY, vantage fx, WTI, WTI oil

Euro Tumbles As Moody Downgrades Portugal To Junk | July 6, 2011

July 6, 2011 By Vantage FX

Gold rose 2% overnight to settle at 1,512 this morning, the biggest climb in over five weeks

Australian stocks are set for a reasonably flat open this morning after commodities were strong but US stocks were small down on Tuesday, the Dow finished down 12.90 points at 12569.8. The S&P was off 1.79 points to close at 1337.88.

The EURUSD traded 100 points lower overnight to settle at 1.4420 after trading as low as 1.4397, ratings agency Moody’s downgraded Portugal to “junk” status which has really put a dampening effect on the optimism that investors were feeling after last week’s positive news regarding the Greek debt crisis. Moody’s also said that banks that roll over Greek debt may face impairment charges and S&P said a French plan may put Greece in “selective default.”

The Swiss franc rose against all major currencies overnight as another wave of doubt hit investors that the proposed plan to save Greece from a debt default might not be as clear cut as initially thought. The EURCHF dropped from a high of 1.2240 to a low of 1.2100.

Gold (see the above chart) rose 2% overnight to settle at 1,512 this morning, the biggest climb in over five weeks as Moody’s Investors Service announced that the credit outlook for China’s banks is deteriorating which led to investors scrambling for the precious metal.

WTI Oil climbed to its highest price in over three weeks to settle at 96.91 this morning as data showed orders placed with US factories increased by 0.8% in May which indicates that the manufacturing industry is ramping up.

INDICES
	Last Traded
SPI 200	4598
S&P500 Index	1337.32
Dow Jones Indus. Avg	12522
FTSE 100 Index	5988

COMMODITIES
	Last Traded
Gold	1513.2
Oil (Nymex)	97.03

CURRENCIES
	Last Traded
AUDUSD	1.0690
EURUSD	1.4426
GBPUSD	1.6059
USDJPY	81.12

Filed Under: July Tagged With: AUDUSD, Australian stocks, Chinese banks, commodities, credit outlook, crude oil, currency trading, debt rollover, Dow, Dow Jones Indus. Avg, EURCHF, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greece, Greek debt crisis, manufacturing industry, market wrap, Moody, Moody's Investors Service, Nymex, Oil, Portugal, precious metal, S&P, S&P500, S&P500 Index, selective default, SPI 200, Swiss Franc, US factories, US stocks, USDJPY, vantage fx, WTI crude, WTI oil

AUDUSD Off Ahead of RBA Rate Announcement | July 5, 2011

July 5, 2011 By Vantage FX

The AUDUSD traded between a high of 1.0766 and low of 1.0716 overnight

The Australian equity market is pointing towards a small increase this morning after the German and English equity markets rose overnight. The US markets were closed overnight for Independence day.

The EURUSD was slightly higher in holiday-thinned trade overnight as the Euro brushed aside concerns triggered by S&P warning on Greece’s debt would be parallel to a default. The European Central Bank President Jean-Claude Trichet said overnight the bank was “strongly vigilant” on inflation, on the back of this statement many analysts believe they will raise rates on Thursday in the midst of a debt crisis.

The AUDUSD traded between a high of 1.0766 and low of 1.0716 overnight, the RBA will meet at 14h30 today and announce that they will be leaving the cash rate target at 4.75 percent, according to the 28 economists surveyed by Bloomberg news.

Gold gained for the first time in three days after investors saw value in the metal after it dropped to a six week low to settle at 1496. The resistance level at 1500 is the key hurdle for the metal, if this level is broken the next level will be 1515.

WTI crude was reasonably flat overnight in thin trade to settle at 95. The International Energy Agency announced that the sale of emergency crude reserves has been very successful and having the desired effect on the market.

INDICES
	Last Traded
SPI 200	4614
S&P500 Index	Closed
Dow Jones Indus. Avg	Closed
FTSE 100 Index	6017.5

COMMODITIES
	Last Traded
Gold	1495
Oil (Nymex)	95.08

CURRENCIES
	Last Traded
AUDUSD	1.0740
EURUSD	1.4547
GBPUSD	1.6082
USDJPY	80.76

Filed Under: July Tagged With: AUDUSD, Australian equity market, Bloomberg, cash rate, crude, crude oil, currency trading, default, Dow Jones Indus. Avg, ECB President, English equity market, Euro, european central bank, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, German equity market, Gold, Greek debt, Independence Day, inflation, International Energy Agency, Jean-Claude Trichet, market wrap, metal, Nymex, Oil, raise rates, RBA, S&P, S&P500, S&P500 Index, SPI 200, Standard and Poor, US market, USDJPY, vantage fx, WTI

US Stocks Surge On The Back Of Strong ISM Data | July 4, 2011

July 4, 2011 By Vantage FX

The EURUSD is currently trading just below key resistance levels of 1.4550 on early Monday morning

The Australian equity market is set for a strong start to the week as U.S. stocks were well up on Friday trade, notching the biggest weekly gain in nearly two years on the back of strong data released by the Institute of Supply Management which showed the U.S. manufacturing sector expanded swiftly in June. The Dow traded up 168 points to close at 12582.75 while the S&P500 rose 19 to 1339.5, these markets will be closed today for the 4 of July holiday.

The EURUSD is currently trading just below key resistance levels of 1.4550 on early Monday morning trade, up from Friday night lows of 1.4437. Surprisingly good manufacturing figures supported the US dollar against most currencies except the AUD and EUR as investors continue to be buoyed by the positive news out of Greece. Over the weekend the Euro-zone governments agreed to pay Greece the next round of last year’s bailout package and set September as the new deadline for completing a second bailout package for Greece.

AUDUSD continued to rally on Friday US session settling at 1.0770, this is the biggest weekly gain for over 13 months, currently the pair is trading at 1.0780.

WTI crude ended Friday lower as investors look at weaker than expected manufacturing data from China and the euro-zone nations.

Gold ended the week in the red settling at 1486 as funds around the world reduce their longs on speculation that slowing global growth will reduce the demand for the metal.

INDICES
	Last Traded
SPI 200	4633
S&P500 Index	1333
Dow Jones Indus. Avg	12515
FTSE 100 Index	5977

COMMODITIES
	Last Traded
Gold	1489
Oil (Nymex)	95.17

CURRENCIES
	Last Traded
AUDUSD	1.0777
EURUSD	1.4568
GBPUSD	1.6071
USDJPY	80.80

Filed Under: July Tagged With: AUD, AUDUSD, Australian equity market, bailout, China manufacturing data, currency trading, Dow, Dow Jones Indus. Avg, EUR, euro zone, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greece, Independence Day, ISM Data, manufacturing figures, market wrap, metal, Nymex, Oil, resistance, S&P500, S&P500 Index, SP 200, US Dollar, US Manufacturing sector, US session, US stocks, USD, USDJPY, vantage fx, WTI crude

Markets Rally As Investors Continue To Look At Greece | June

June 29, 2011 By Vantage FX

The EURUSD rose overnight to end the US session above 1.4350 level

The Australia equity market points to a strong open after the US markets had their strongest session in over two months, the Dow rising 145 points to 12188 and the S&P500 gaining 16.0 points to 1296.60. Investors seemed to be in a buying frenzy after many of the German banks agreed in principle to roll over $10 billion in Greek government debt.

The EURUSD (see above chart) rose overnight to end the US session above 1.4350 level as investors growing hopes that Greece would pass austerity measures, if this fails the country will go bankrupt within two weeks. In other news the US home prices rose for the first time in seven months although this improvement will need adjusting due the spring summer buying season.

The AUDUSD rallied from a low yesterday low of 1.4237, it is currently trading on its highs of 1.0545. The Aussie has been one of the hardest hit currencies since the Greece crisis as investors have begun to worry that the RBA will not be tightening monetary policy any time soon and rather there is a possibility that there could be loosening within the year.

WTI crude oil was up over 2.5 percent in overnight trade which is its biggest one day gain since mid May, this is on the back of the weak dollar optimism about the Greeks ability to avoid default.

INDICES
	Last Traded
SPI 200	4519
S&P500 Index	1293
Dow Jones Indus. Avg	12130
FTSE 100 Index	1293

COMMODITIES
	Last Traded
Gold	1501.5
Oil (Nymex)	93.10

CURRENCIES
	Last Traded
AUDUSD	1.0538
EURUSD	1.4353
GBPUSD	1.5985
USDJPY	81.07

Filed Under: June Tagged With: AUDUSD, Aussie, austerity measures, Australia equity market, bankruptcy, crude oil, currency trading, debt crisis, dollar, Dow, Dow Jones Indus. Avg, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, German banks, Gold, Greece, Greek debt, market wrap, monetary policy, Nymex, Oil, RBA, S&P500, S&P500 Index, SPI 200, US Home PRices, US markets, US session, USDJPY, vantage fx, WTI crude oil

US Rally As Regulators Move To Safeguard Global Banking System | June 28, 2011

June 28, 2011 By Vantage FX

The EURUSD has continued to rally from yesterday's lows of 1.4104 to finish the US session above the 1.43 level

The Australian equity market is expected to gap higher this morning after the US stocks rallied for the first time in four sessions Monday evening as financial stocks jumped on banking capital requirements being less onerous than expected. The Dow finished up 108 points at 12043 while the S&P500 index rose 11.75 points to 1280.10.

The EURUSD (see above chart) has continued to rally from yesterday’s lows of 1.4104 to finish the US session above the 1.43 level on the back of hopes that the austerity plan could pass in the Greek parliament later this week. Investors seem to be upbeat about the proposed broad plan with the EU guaranteeing to roll over the Greek debt at expiry in 2014.

The AUDUSD bounced off an overnight low of 1.0392 which was weakest level against the US in over two months as investors consider the potential for an unwinding of at least some of the central bank’s recent tightening.

Gold declined $4.50 on Monday morning to close below $1,500 for the first time in over one month as the recent gains in the US dollar eroded the demand for the metal. A survey conducted by UBS AG saw that sovereign institutions expected Gold to be the best performing asset for the rest of the year.

WTI Oil dropped to a low 89.65, this is the lowest level in more than four months as US data showed that consumer spending had declined last month and after the International Energy Agency said it’s prepared to release more crude from stockpiles.

INDICES
	Last Traded
SPI 200	4490
S&P500 Index	1278.50
Dow Jones Indus. Avg	12012
FTSE 100 Index	5708

COMMODITIES
	Last Traded
Gold	1498.80
Oil (Nymex)	91.32

CURRENCIES
	Last Traded
AUDUSD	1.0463
EURUSD	1.4315
GBPUSD	1.5988
USDJPY	80.83

Filed Under: June Tagged With: AUDUSD, austerity plan, Australian equity market, banking capital requirements, Central Bank, consumer spending, crude, currency trading, debt rollover, Dow, Dow Jones Indus. Avg, EU, EURUSD, financial stocks, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greek debt, Greek Parliament, International Energy Agency, market wrap, metal, Nymex, Oil, S&P500, SPI 200, UBS AG, US data, US Dollar, US session, US stocks, USDJPY, vantage fx, WTI oil

Weak Across Board As Italian Banks Hit Hard | June 27, 2011

June 27, 2011 By Vantage FX

The EURCHF opened up Monday morning trade at new all time lows of 1.1829

U.S. stock finished the week lower as several major banks in Italy suspended their stocks after a sudden drop in their share price with unconfirmed rumors that those banks were undergoing a “stress test” and they wouldn’t pass it. Moody then come out and warned that there could be a need to cut the credit rating of many of the Italian banks. The Dow finished down 115 to close at 11934.while the S&P500 finished at 1,268, a drop of over one percent.

The EURCHF (see chart above) opened up Monday morning trade at new all time lows of 1.1829. The EURUSD has traded off 20 points and is currently sitting above key support levels of 1.4160. Greece’s deputy prime minister warned that rebel lawmakers could possibly block some reforms that are being sought by international lenders involved in the deal.

USDJPY continues to range trade between 80.75 and 80.15. Trader will be looking to get some direction from the retail sales out on early today and then look to Thursday for the key weekly event, the Tankan Manufacturing Index.

Gold finished off the week by dropping over 1 percent to finish in negative territory and wipe out all the gains from earlier in the weeks trade. Gold is currently sitting above the key physiological support levels of 1500.

INDICES
	Last Traded
SPI 200	4455
S&P500 Index	1261
Dow Jones Indus. Avg	11850
FTSE 100 Index	5653

COMMODITIES
	Last Traded
Gold	1500
Oil (Nymex)	90.82

CURRENCIES
	Last Traded
AUDUSD	1.0475
EURUSD	1.4175
GBPUSD	1.5962
USDJPY	80.46

Filed Under: June Tagged With: AUDUSD, Credit Rating, currency trading, Deputy Prime Minister, Dow, Dow Jones Indus. Avg, EURCHF, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greece, Italian banks, Italy, Moody, Nymex, Oil, S&P500, share price, SPI 200, Tankan Manufacturing Index, US Stock, USDJPY, vantage fx

Greek Parliament Backs Prime Ministers Cabinet | June 22, 2011

June 22, 2011 By Vantage FX

The EURUS traded to a high above the 1.4420 level overnight.

The US equities were strong overnight with the Dow Jones closing up 109 points while the SP500 index rose 17 points. This is now the fourth consecutive day that the US markets have risen and once again is on the back of investors positive thoughts on the survival of Greece.

As expected Greece’s Prime Ministers new cabinet received the vote of confidence from parliament 155-143. This is seen as a crucial hurdle towards approving the country’s austerity package and restarting the flow of bailout funds which is currently been held by the EU and IMF. Ahead of the vote, acting IMF head John Lipsky said that the program outlined for Greece could work and it would prevent a default.

The EURUSD (see above chart) traded to a high above the 1.4420 level overnight. Currently the EUR is not reacting as positively as expected and is trading below the 1.4385 level. Morgan Stanley on Tuesday scaled back its year end EUR forecast to 1.36 due to Greece-related and economic-growth concerns. This is 0.13 lower than their previous projected level of 1.49 at year end.

The AUDUSD rose to a high of 1.0620 in the US trading session overnight from a low of 1.0532 during yesterdays Asian session after the Reserve Bank said that it would maintain the 4.75% benchmark in the face of a potential worsening European debt drama.

Gold futures locked in its sixth positive day as the dollar weakened on the back of the confidence vote.

INDICES
	Last Traded
SPI 200	4540
S&P500 Index	1287.5
Dow Jones Indus. Avg	12092
FTSE 100 Index	5749

COMMODITIES
	Last Traded
Gold	1547
Oil (Nymex)	93.75

CURRENCIES
	Last Traded
AUDUSD	1.0592
EURUSD	1.4375
GBPUSD	1.6225
USDJPY	80.22

Filed Under: June Tagged With: Asian trading session, AUDUSD, austerity package, bailout funds, cabinet, confidence vote, currency trading, dollar, Dow Jones, Dow Jones Indus. Avg, economic growth, EU, EUR, european debt, EURUSD, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, gold futures, Greece, Greek Prime Minister, IMF, John Lipsky, market wrap, Morgan Stanley, Nymex, Oil, parliament, Reserve Bank, S&P500, S&P500 Index, SPI 200, US equities, US markets, US trading session, USDJPY, vantage fx

US Bounced With Cautions | June 17, 2011

June 17, 2011 By Vantage FX

USDJPY Asian strength could not last through the US session as it sold off steadily to lose 40 points approximately.

Markets traded in the mixed last nights as it bounced slightly from yesterday allowing the SP500 and Dow both to have gained 0.54% and 0.18% respectively. The upside moves were supported by very thin volumes, hence lacking the conviction that could proves potential recovery, which it did not. Moreover, the choppy move was actually behind “quadruple witching”, where expiries of multiple contracts are coming up and hence traders are unwind or rolling into new contracts. Given the lack of fundamental for this upside movements, there will still be a downside risk and selling pressure is still very much alive.

EUR’s reaction last night was no surprise, sustaining its declination and had the EURUSD fell as much as 1% in the early part of the session. The pressures saw EURUSD to trade near the 1.047 mark before regaining some of its losses to rally 0.2% on the back of speculation that both EU and IMF may assist Greece and preventing default.

AUDUSD capitulated through to 1.05 just before the US opens to trade near 1.0475. This weakness was the same as any other currencies, cautioning the potential disaster in Greece. However, AUDUSD made some gains to trade above 1.05 running into some resistances at 1.0555 up until near the final quarter of the session where a 60 points sell offs eventuated before it found some support at 1.05 and rebounded to session highs. The AUDUSD is proving to be resilient and directionless to a certain extent. This motion will continues into the next session and until Monday comes, which would have been after the Greek meeting this Sunday, where the Finance minister will shed some lights on how Greece will finance their debts, some direction will be provided to AUD.

USDJPY Asian strength could not last through the US session as it sold off steadily to lose 40 points approximately. The weakness in this pair has been mentioned in the last couple of reports and we envisage that it will always attempt to run the downside at every chance it gets.

In the next 24 hours, the majority of activities will be based on two things; Greek’s crisis and quadruple witching. No fundamental announcements will be made until Japan releases its trade numbers coming Monday.

INDICES
	Last Traded	Change %
SPI 200	4479.20	-1.92
S&P500 Index	1267.64	0.18
Dow Jones Indus. Avg	11961.52	0.54
FTSE 100 Index	5698.81	-0.76

COMMODITIES
	Last Traded	Change %
Gold	1528.8	-0.07
Oil (Nymex)	95.16	0.22

CURRENCIES
	Last Traded	Change %
AUDUSD	1.0563	0.05
EURUSD	1.4205	0.02
GBPUSD	1.6166	0.05
USDJPY	80.61	0.02

Filed Under: June Tagged With: AUD, AUDUSD, currency trading, default, Dow, Dow Jones Indus. Avg, downside risk, EU, EUR, EURUSD, Finance Minister, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greece, IMF, Japan trade figures, market wrap, Nymex, Oil, quadruple witching, S&P500, S&P500 Index, selling pressure, SPI 200, thin volume, US, USDJPY, vantage fx

Global Markets Fell As Greek Woes Heighten | June 16, 2011

June 16, 2011 By Vantage FX

USDCAD made a stellar gain of over 150 points to trade above 98.

Weak night across the board as world markets tumbled amid concern Greek’s default is looking more likely than ever with current credit rating of triple C, just two notches above default. The deadlock of second bailout is weighing into the markets as the mechanism behind the package has been disapprovingly reacted by the general populace, that is, the involvement of private creditors, which will no doubt heighten the level of default.

SP500 down 1.74% and DOW also lost over 178 points to make up a fall of 1.48%. The bear domination was on the back of both protests rallied against the government displaying their frustration towards the austerity mechanism and the dismal economic results of US. CPI came in at 0.2% slightly higher than expected of 0.1% whilst industrial production made a sluggish gain of 0.1%, lower than analyst expectation of 0.2%.

Poor sentiment forced USD to strengthen against its major peers, sending some of the focused currencies to lose all their week’s gain. EURUSD fell below 1.42 and continue to oscillate within a 20 points range below the figure. The downside capitulation does not seem to be stopping anytime soon especially with the situation in Greece and EURUSD will see the below 1.40 very soon. Furthermore, GBPUSD could not ignore the bearish lead as it also loss some heavy grounds to trade below 1.62 for the remaining of the session.

European fears escalate has spilled over to Asian currencies with AUDUSD loss over 100 points to trade under 1.0550, erased all the gains made in the last 3 days. However, on the flipside, a bullish tone was created for USDJPY aided by the strength in USD. USDJPY finally broke through the 81 level after almost half of month tracking around the 80.

USDCAD made a stellar gain of over 150 points to trade above 98. The weakness in CAD was a combination of USD strength and Canadian factory sales fell on the back of Japanese inability to improve at a decent rate on its auto production after the natural disaster.

INDICES
	Last Traded	Change %
SPI 200	4566.80	-0.4
S&P500 Index	1265.42	-1.74
Dow Jones Indus. Avg	11897.27	-1.48
FTSE 100 Index	5742.55	-1.04

COMMODITIES
	Last Traded	Change %
Gold	1530.20	0.26
Oil (Nymex)	95.48	0.71

CURRENCIES
	Last Traded	Change %
AUDUSD	1.0578	0.01
EURUSD	1.4182	0.01
GBPUSD	1.6195	-0.02
USDJPY	80.89	0.09

Filed Under: June Tagged With: AUDUSD, austerity measures, auto production, bailout, bear domination, bearish, Bullish, Canada, Credit Rating, currency trading, Dow, Dow Jones Indus. Avg, downside capitulation, EURUSD, factory sales, Foreign Exchange, forex, forex market wrap, FTSE 100 Index, GBPUSD, Gold, Greece, Greek default, market wrap, Oil, oil (nymex), private creditors, S&P500, S&P500 Index, SPI 200, triple C, US CPI, US Industrial Production, USD, USDCAD, USDJPY, vantage fx