Trading News and Views:
2nd February, 2012
Indices:
European markets:
The FTSE, CAC and DAX advanced on Wednesday after manufacturing data in Germany, China and the US were better than expected boosting investor sentiment. Duarte Caldas, a market strategist said that Europe is in initial stages of implementation of austerity measures, hence then we could see some rough markets.
(source: reuters.com).
Across Europe, the UK’s FTSE 100 was up 1.9 percent, DAX rose 2.4 percent and CAC 40 gained 2.1 percent.
(source: bloomberg.com).
US markets:
DOW and S&P and the Nasdaq started February on a strong foot after better than expected economic data from US , China and Germany boosted the markets. According to Brian Battle, a Chicago based expert said that the economic numbers are better and hence markets have gone higher.
(source: reuters.com).
The Dow Jones Industrial Average gained 0.66 percent, the Standard & Poor's 500 was up 0.89 percent and the Nasdaq was up 1.22 percent.
(source: reuters.com).
Asian Markets:
The Nikkei and the Hang Seng advanced after manufacturing activity from China and India boosted the markets. According to Yoji Takeda, an expert, economic activity from India and China have been encouraging, but Europe still holds a lot of value in shifting investor sentiment.
(source: bloomberg.com).
The benchmark Nikkei rose 0.1 percent and the Hang Seng slipped 0.3 percent.
(source: bloomberg.com).
Forex/Currencies:
The euro kept its rise against the dollar yesterday as hopes of a Greek deal coming to a close was near. According to Brian Kim, a currency strategist from Connecticut, European debt deal is crucial if it fails then it will effect the euro very badly.
(source: reuters.com).
The euro was at $1.3154 up by 0.6 percent.
(source: bloomberg.com).
Commodities:
Oil Trading:
Oil advanced yesterday after better than expected Chinese manufacturing data and large build-up of US inventories overshadowed the standoff between Iran and the West. Jim Ritterbusch, an Illinois based expert said that huge inventories in US refineries has given Europe an alternative other than Iran to import oil. Europe is also looking at other supply sources from other countries.
(source: reuters.com).
Crude Oil futures for March delivery fell 87 cents to settle at $97.61 a barrel.
(source: reuters.com).
Gold Trading:
Gold rose on Wednesday as dollar fell against the euro giving investors a reason to hold the yellow metal on fears of rising inflation after strong global manufacturing data. George Gero, an expert said that gold’s rise has been steady since few weeks, it is time people will start selling to earn profits. But this reversal may not be anytime soon.
(source: reuters.com).
US Gold futures for April delivery was up $9.10 at $1,749.50
(source: reuters.com).
Bonds:US Bonds:
US government bonds fell after better than expected US manufacturing data and more good economic numbers from China and Germany dampened the safe haven quality of government bonds.
(source: reuters.com).
US 30 year bond yield rose.
(source: reuters.com).
German Bonds:
German bunds fell after good economic data from Germany, China and US discouraged investors from buying bonds. Richard McGuire, a senior fixed income strategist from London said that there is improved risk sentiment which is taking yields higher.
(source: bloomberg.com).
German bund yield was up six basis points to 1.84 percent.
(source: bloomberg.com).
Economic Calendar 2nd February 2012:
Market Focus:
Investors want to hear more stimuli from Ben Bernanke for the markets to keep rising.
| | Instrument | % Change | Indicator |
| INDICES | DOW | 0.66% |
 UP
|
| | NASDAQ | 1.22% |
UP |
|
| S&P | 0.89% |
UP |
| | FTSE | 0.12% |
 DOWN
|
| | CAC | 0.29% | UP |
| | ESTOXX | 0.17% | UP |
| | DAX | 0.24% | UP |
| | HSI | 2.00% | UP |
| | NIKKEI | 0.76% |
UP |
| CURRENCIES | EURO | 0.11% |
DOWN |
| | YEN | 0.11% |
DOWN |
| | GBP | 0.00% |
DOWN |
| COMMODITIES | GOLD | 0.27% |
UP |
| | OIL | 0.56% | UP |
BONDS | BOND 30 | 0.010 yield change |
UP |
| | BUND 10 | 0.023 yield change |
DOWN |
(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.)
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