Trading News and Views:

01st December 2011

Indices:

European markets:

The FTSE, CAC and DAX remained up after US Federal Reserve, European Central Bank and Central banks from Canada, Britain, Japan and Switzerland planned to inject liquidity into the financial markets. Michael Hewson, analyst said that world authorities are preparing to fund the financial markets to stabilize the markets.
(source: reuters.com).

Across Europe, the UK’s FTSE 100 , DAX  and CAC 40 rose.
(source: bloomberg.com).

Forex/Currencies:

The euro fell amid speculation European leaders would find a solution soon for the debt crisis or not. David Mann, a New York based expert said that there is high uncertainty about a solution. The market is short of euros and it can't go any lower.
(source: bloomberg.com).

The euro didn't change much at $1.3317. 
(source: bloomberg.com).

Commodities:

Oil Trading:

Oil fell yesterday after US inventory unexpectedly increased halting oil's rally, despite a good move by Central Banks on deciding to inject financial markets with money. Chris Jarvis, a New Hampshire based expert said that the market was bearish yesterday after the US inventory data was revealed. 
(source: reuters.com).

Crude Oil futures for January delivery rose 57 cents to settle at $100.36 a barrel.
(source: reuters.com).

Gold Trading:

Gold climbed yesterday as gold was bought as a hedge against drop in currency valuation after Central banks would boost liquidity by injecting money into the financial markets. Michael Cuggino, an expert said that if money is inject into the markets currency value especially of the USD would deteriorate at this time holding cash could be meaningless, that is when holding gold would be profitable.
(source: reuters.com).

US Gold futures for February delivery settled up $31.40 at $1,750.30.
(source: reuters.com).

Bonds:

US Bonds:

US government bonds fell on Wednesday after investors moved towards risky assets after preparations were being made by Global Central Banks in injecting money into the financial markets. The US payroll numbers also showed a growth which also discouraged investors from investing in bonds. Kevin Giddis, a fixed income strategist from Memphis said that some good news coming from economic data in the US and also news about monetary help by Central banks kept bonds lowest in the list of investments.
(source: reuters.com).

US 30 year bond yield rose to 3.09 percent.
(source: reuters.com).

German Bonds:

German bunds rallied after Standard & Poor, the credit rating agency cur the ratings for Bank of America and Goldman Sachs Group. In London, David Schnautz, a fixed income strategist said that the meeting held between European leaders held yesterday was not that fruitful which also sent investors to buy bonds a safe assets.
(source: bloomberg.com).

German bund yield was three basis points down at 2.30 percent.
(source: bloomberg.com).

Economic Calendar 01st December 2011:

Market Focus:

Today there is lot of economic data activity like retail sector, manufacturing sector and housing sector.

 Recent Market Action:

(percent changes based on previous day's underlying market data, for indication only)

Sources include: Bloomberg.com , Reuters.com, Fxstreet.com, Economicnews.ca, g20.org and FT.com

(Any opinions expressed in these updates do not reflect the views of the company, and as such should not be taken as trading advice.)