Daily review 08/08/12
A positive trend is registered this morning (Wednesday) in most Asian stock exchanges due to the positive closing on Wall Street last night.
Leading indexes continue to be traded in optimism, with anticipation toward Europe, to see what the Eurozone leaders will decide to do, after the prime minister of Italy Mario Monti and the Spanish Finance Minister Luis de - Goweindos tried over the weekend to reassure the talks that both countries will need assistance packages.
Optimism also recorded in Greece after the finance minister Yannis Stornars told journalists that his country is ready to implement further austerity programs in exchange for funds from the European Union and International Monetary Fund.
British bank Standard Chartered shares, who was accused of concealing trade with Iran worth $ 250 billion, recovering slightly in Hong - Kong after falling down yesterday.
Wall Street was closed yesterday (Tuesday) in price increases, while the Nasdaq closed above the psychological level of 3,000 points and the S & P 500 closed at the highest level since May.
On the background hover investors' expectations for an expansionary policy, both the U.S. and Europe.
In the macro arena- yesterday was published June consumer credit which rose by $ 6.5 billion, less than analysts observatories which stood at about $ 10 billion and after that in May, consumer debt increased by 16.7 billion.
Bernanke spoke on Monday in the International Conference Association for Research in Cambridge, and said that despite the many measures of the economy indicate a recovery, many people and businesses cope with hard times.
NSDQ 0.87%↑ S&P 0.51%↑ DOW 0.39%↑
EUR / USD:
EUR/USD trading at 1.2385 a decrease of 0.10% in writing.
The pair may find support at 1.2342 Monday low and resistance at- 1.2443 Monday high.
Meanwhile, the Euro gain strength against the British Pound and weakens against the Japanese Yen, when the -EUR/GBP add a 0.08% to 0.7941 and –EUR/JPY drop 0.38% to 97.08.
The British Pound weakens against the U.S Dollar today, trading at 1.5580 a decrease of 0.24%.
The pair may find support at 1.5545 Monday low and resistance at 1.5682 Tuesday high.
Meanwhile, the British Pound weakens against the Euro and against the Japanese Yen, while the EUR/GBP add a 0.08% to 0.7941 and the GBP/JPY drop 0.49% to 122.14.
The U.S Dollar gains strength against the Canadian Dollar today, trading at 0.9979 an increase of 0.12%.
The pair may find support at 0.9961 Tuesday low and resistance at 1.0032 Monday high.
Meanwhile, the U.S Dollar gain strength against the Euro and against the British pound, while the EUR /USD drop 0.10% to 1.2385 and the GBP/USD drop 0.24% to 1.5580.
WTI- Crude Oil:
The WTI weakens today, trading at 92.99 a decrease of 0.43%.
May find support at 91.74 Tuesday low and resistance at 94.36 Tuesday high.