Daily review 25/04/12
Wall Street has been closed yesterday (Tuesday) in a mixed trend , in light of the positive trend in Europe, and after the publication of negative macro data earlier in Asia.
Despite the risk from Spanish collapse, the government managed to raise bonds totaling 1.93 billion euros for short range of 3 and 6 months, while enjoying high demand.
Italy also managed to raise a capital of 3.44 billion euros, by issuing bonds with a term of 2 and 7 years.
However, it is important to remember that the obligations of the Eurozone countries are still very high and threaten the Union.
Debt of 17 countries in the Eurozone climbed in 2011 to a level of 87.2% of GDP compared to 85.3% the previous year.
Only five countries from the Eurozone have a low debt ratio from the debt limit of 60% - Estonia, Luxembourg, Slovenia, Slovakia and Finland.
Apple reported yesterday a doubling of its net income in this quarter in part due to strong sales of the iPhone in China.
U.S. will publish later today Core durable goods orders and the Federal Reserve will publish its interest rate decision, as investors try to extract every possible clues about the possibility of further quantitative easing program (QE3).
In South Korea, consumer confidence index climbed to a record of 11 months in April; index rose to 104 points vs. 101 points in March.
Exchanges in Australia and New Zealand are closed today on the occasion of local holidays.
DOW 0.58% ↑ S&P 0.37 % ↑ NSDQ 0.30% ↓
Technical review
EUR / USD:
EUR/USD trading at -1.3194 a decrease of 0.02% in writing.
The pair may find support at 1.3144 Tuesday low and resistance at- 1.3215 Tuesday high.
Meanwhile, the Euro gain strength against the British Pound and against the Japanese Yen, when the -EUR/GBP add a 0.02% to 0.8175 and –EUR/JPY add 0.13% to 107.43.
GBP/USD:
The British Pound gains strength against the U.S Dollar today, trading at 1.6138 a decrease of 0.03%.
The pair may find support at 1.6075 Monday low and resistance at 1.6162 Tuesday high.
Meanwhile, the British Pound weakens against the Euro and gain strength against the Japanese Yen, while the EUR/GBP add a 0.02% to 0.8175 and the GBP/JPY add 0.06% to 131.32.
USD/CAD:
The U.S Dollar weakens against the Canadian Dollar today, trading at 0.9868 a decrease of 0.01%.
The pair may find support at 0.9864 today low and resistance at 0.9922 Tuesday high.
Meanwhile, the U.S Dollar gain strength against the Euro and against the British pound, while the EUR /USD drop 0.02% to 1.3194 and the GBP/USD drop 0.03 to 1.6138.
WTI- Crude Oil:
The WTI weakens today, trading at 103.63 a decrease of 0.17%.
May find support at 102.78 Tuesday low and resistance at 104.65 Friday high.
