Daily review 24/04/12
Asian stock markets trade is conducted today (Tuesday) in prices decrease, while strengthening of the Japanese Yen puts negative pressure on the Japanese exporters.
The stock market in Sidney rose due to better than expected inflation data.
Investors continue to react to the half annual summit of the IMF conference in Washington this weekend, where the fund managed to increase its resources to 430 billion dollars.
As of this morning, futures contracts on indices of Wall Street, signaling a negative opening.
Asian stock market weakness comes after Wall Street's negative close last night, due to not particularly encouraging macro data from the Eurozone - where published yesterday the Purchasing Managers Index, that fell to a low of 3 years.
In Europe, investors are concerned that the attempt to formulate a unified fiscal convention in the Eurozone which would provide tighter control on the economies of Europe - will fail.
This, due to the possible election of French President Francois Hollande. Hollande is the Socialist rival candidate to Nicolas Sarkozy, and the two are expected to face second round of voting.
Federal Reserve will not come out with significantly announcements in the coming week and is not expected to announce the program quantitative easing, or the change in policy interest rates and growth forecasts – estimated by analysts, toward the convening of the open market Conference of the Fed (FOMC), which is expected to converge today (a two-day conference, in which the central bank will announce the interest rate).
DOW 0.78% ↓ S&P 0.84 % ↓ NSDQ 1.00% ↓
EUR / USD:
EUR/USD trading at -1.3164 an increase of 0.07% in writing.
The pair may find support at 1.3144 today low and resistance at- 1.3210 Monday high.
Meanwhile, the Euro weakens against the British Pound and against the Japanese Yen, when the -EUR/GBP drop a 0.02% to 0.8152 and –EUR/JPY drop 0.15% to 106.64.
The British Pound gains strength against the U.S Dollar today, trading at 1.6146 an increase of 0.12%.
The pair may find support at 1.6075 Monday low and resistance at 1.6153 today high.
Meanwhile, the British Pound gain strength against the Euro and weakens against the Japanese Yen, while the EUR/GBP drop a 0.02% to 0.8152 and the GBP/JPY drop 0.21% to 130.64.
The U.S Dollar weakens against the Canadian Dollar today, trading at 0.9902 a decrease of 0.08%.
The pair may find support at 0.9878 Thursday low and resistance at 0.9961 Thursday high.
Meanwhile, the U.S Dollar weakens against the Euro and against the British pound, while the EUR /USD add 0.07% to 1.3164 and the GBP/USD add 0.12 to 1.6146.
WTI- Crude Oil:
The WTI weakens today, trading at 103.05 a decrease of 0.05%.
May find support at 102.78 today low and resistance at 103.89 Monday high.