EURUSD
(Bloomberg) The euro traded 0.1 percent from a six-week high versus the dollar before European Union finance ministers meet in Brussels today amid optimism the region can find solutions for its debt crisis. The euro held a three-day gain against the yen after Greece offered to spend as much as 10 billion euros ($13 billion) to buy back government securities and as Spain said it expects funds for bank recapitalization next week. The dollar remained lower as U.S. lawmakers continue negotiations on how to avert the so-called fiscal cliff of spending cuts and tax increases. Demand for Australi's currency was limited on speculation the central bank will lower interest rates today. The euro fetched $1.3056 as of 8:26 a.m. in Tokyo from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.
GOLD
(Bloomberg) Gold dropped as the stalemate in U.S. budget talks weighed on commodities, countering record assets in exchange-traded products. Silver, platinum and palladium fell. Spot gold slid as much as 0.2 percent to $1,712.35 an ounce, and traded at $1,712.88 at 12:37 p.m. in Singapore. Bullion for February delivery declined 0.4 percent to $1,714.70 an ounce on the Comex in New York, while oil and copper retreated. Holdings in ETPs, up 11 percent this year, expanded to 2,623.446 metric tons yesterday, data compiled by Bloomberg show. U.S. lawmakers are trying to avert more than $600 billion in tax increases and spending cuts starting in January. House Republicans, rejecting President Barack Obama's demand for higher tax rates, yesterday countered with a $2.2 trillion deficit-cutting plan, which White House Communications Director Dan Pfeiffer said does not meet the test of balance. Gold will be driven by sentiment in the broader financial markets in the near term as investors weigh the U.S. fiscal cliff negotiations, said Xiang Nan, an analyst at CITICS Futures Co., a unit of China's biggest listed brokerage. Gold may advance as businesses temper spending and central- bank stimulus measures fall short, John Gilbert, chief investment officer at General Re-New England Asset Management, a unit of Warren Buffett's Berkshire Hathaway Inc. (BRK/A), wrote in a newsletter. Buffett said in a February letter to Berkshire shareholders that investors should avoid gold, because its uses are limited and it doesn't have the potential of farmland or companies to produce new wealth.
SILVER
(Bloomberg) Spot silver fell 0.6 percent to $33.4538 an ounce, spot platinum lost 0.3 percent to $1,600.50 an ounce, and palladium slipped 0.8 percent to $685.50 an ounce.
+CLF13
(Bloomberg) Crude rose to the highest level in two weeks after Chinese manufacturing grew the most in seven months in November. Prices advanced for a third day as China's Purchasing Managers Index rose on new orders and export demand. Futures pared gains, which took them to a six-week intraday high, after the Institute for Supply Management reported U.S. factory output last month fell to the lowest level since July 2009. People are looking for economic news to see what's going on, and China's manufacturing number is a good sign, said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. The ISM brought investors back to earth and took out whatever enthusiasm there was over the Chinese numbers earlier. Oil for January delivery gained 18 cents to $89.09 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19. Prices advanced 3.1 percent last month and are down 9.9 percent in 2012.
@ESZ12
(Bloomberg) U.S. stocks fell, following a two- week advance for the Standard & Poor's 500 Index, as an unexpected contraction in manufacturing spurred concern about the potential economic toll from the so-called fiscal cliff. DuPont Co., the most valuable U.S. chemical maker, fell 1.7 percent, leading raw-materials producers to the biggest drop among 10 S&P 500 groups. Dell Inc. (DELL) rallied 4.4 percent after Goldman Sachs Group Inc. recommended buying the shares. The S&P 500 dropped 0.5 percent to 1,409.46 at 4 p.m. in New York. The Dow Jones Industrial Average lost 59.98 points, or 0.5 percent, to 12,965.60. More than 5.6 billion shares traded hands on U.S. exchanges today, or 9.4 percent below the three- month average, according to data compiled by Bloomberg. The fiscal cliff concerns are actually affecting decision making at the business level,Andres Garcia-Amaya, New York- based global market strategist at JPMorgan Chase & Co.'s mutual funds unit, which oversee $400 billion in assets, said in a phone interview. China is starting to show signs of life. The U.S. was showing signs of life, but we have the geopolitical issue that's impeding us from moving forward. All in all, just confusing the market.
(Bloomberg) The euro traded 0.1 percent from a six-week high versus the dollar before European Union finance ministers meet in Brussels today amid optimism the region can find solutions for its debt crisis. The euro held a three-day gain against the yen after Greece offered to spend as much as 10 billion euros ($13 billion) to buy back government securities and as Spain said it expects funds for bank recapitalization next week. The dollar remained lower as U.S. lawmakers continue negotiations on how to avert the so-called fiscal cliff of spending cuts and tax increases. Demand for Australi's currency was limited on speculation the central bank will lower interest rates today. The euro fetched $1.3056 as of 8:26 a.m. in Tokyo from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.
Support
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Resistance
|
|
EURUSD
|
1.30123
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1.30945
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1.29614
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1.31258
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1.28798
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1.32080
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AUDUSD
(Bloomberg) The Reserve Bank of Australia cut its benchmark interest rate to the half-century low set during the 2009 global recession as hiring falters and an elevated currency hurts industries such as manufacturing and tourism. Governor Glenn Stevens and his board reduced the overnight cash-rate target by a quarter percentage point to 3 percent, the central bank said in a statement in Sydney today. The sixth cut in the past 14 months was predicted by 20 of 28 economists surveyed by Bloomberg. The rate matches the level reached from April-October 2009 that was the lowest since 1960. In his statement, Stevens said the local dollar remains higher than might have been expected given lower export prices and a weaker global outlook. His decision to ease the highest policy rate among major developed economies reflects Australia's contained wage pressure, lower projected mining spending and an unemployment rate at a 2 1/2-year high. The cut is an attempt to smooth the transition from resources to the broader sectors of the economy that are currency and interest-rate sensitive, said Martin Whetton, interest-rate strategist for Australia at Nomura Holdings Inc. in Sydney. There feels like theres a level of frustration in the statement about the currency. The so-called Aussie advanced after the decision, buying $1.0437 at 4:56 p.m. in Sydney compared with $1.0426 before the decision. The yield on three-year government debt advanced to 2.62 percent, up four basis points from yesterday. Australian financial stocks declined, with the S&P/ASX 200 Finance Index falling 0.5 percent.
(Bloomberg) The Reserve Bank of Australia cut its benchmark interest rate to the half-century low set during the 2009 global recession as hiring falters and an elevated currency hurts industries such as manufacturing and tourism. Governor Glenn Stevens and his board reduced the overnight cash-rate target by a quarter percentage point to 3 percent, the central bank said in a statement in Sydney today. The sixth cut in the past 14 months was predicted by 20 of 28 economists surveyed by Bloomberg. The rate matches the level reached from April-October 2009 that was the lowest since 1960. In his statement, Stevens said the local dollar remains higher than might have been expected given lower export prices and a weaker global outlook. His decision to ease the highest policy rate among major developed economies reflects Australia's contained wage pressure, lower projected mining spending and an unemployment rate at a 2 1/2-year high. The cut is an attempt to smooth the transition from resources to the broader sectors of the economy that are currency and interest-rate sensitive, said Martin Whetton, interest-rate strategist for Australia at Nomura Holdings Inc. in Sydney. There feels like theres a level of frustration in the statement about the currency. The so-called Aussie advanced after the decision, buying $1.0437 at 4:56 p.m. in Sydney compared with $1.0426 before the decision. The yield on three-year government debt advanced to 2.62 percent, up four basis points from yesterday. Australian financial stocks declined, with the S&P/ASX 200 Finance Index falling 0.5 percent.
Support
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Resistance
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AUDUSD
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1.04004
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1.04533
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1.03699
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1.04757
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|
1.03170
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1.05286
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GOLD
(Bloomberg) Gold dropped as the stalemate in U.S. budget talks weighed on commodities, countering record assets in exchange-traded products. Silver, platinum and palladium fell. Spot gold slid as much as 0.2 percent to $1,712.35 an ounce, and traded at $1,712.88 at 12:37 p.m. in Singapore. Bullion for February delivery declined 0.4 percent to $1,714.70 an ounce on the Comex in New York, while oil and copper retreated. Holdings in ETPs, up 11 percent this year, expanded to 2,623.446 metric tons yesterday, data compiled by Bloomberg show. U.S. lawmakers are trying to avert more than $600 billion in tax increases and spending cuts starting in January. House Republicans, rejecting President Barack Obama's demand for higher tax rates, yesterday countered with a $2.2 trillion deficit-cutting plan, which White House Communications Director Dan Pfeiffer said does not meet the test of balance. Gold will be driven by sentiment in the broader financial markets in the near term as investors weigh the U.S. fiscal cliff negotiations, said Xiang Nan, an analyst at CITICS Futures Co., a unit of China's biggest listed brokerage. Gold may advance as businesses temper spending and central- bank stimulus measures fall short, John Gilbert, chief investment officer at General Re-New England Asset Management, a unit of Warren Buffett's Berkshire Hathaway Inc. (BRK/A), wrote in a newsletter. Buffett said in a February letter to Berkshire shareholders that investors should avoid gold, because its uses are limited and it doesn't have the potential of farmland or companies to produce new wealth.
Support
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Resistance
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GOLD
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1711.40
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1721.50
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1707.00
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1727.20
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|
1696.90
|
1737.30
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SILVER
(Bloomberg) Spot silver fell 0.6 percent to $33.4538 an ounce, spot platinum lost 0.3 percent to $1,600.50 an ounce, and palladium slipped 0.8 percent to $685.50 an ounce.
Support
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Resistance
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SILVER
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33.38
|
33.83
|
33.16
|
34.06
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|
32.71
|
34.51
|
+CLF13
(Bloomberg) Crude rose to the highest level in two weeks after Chinese manufacturing grew the most in seven months in November. Prices advanced for a third day as China's Purchasing Managers Index rose on new orders and export demand. Futures pared gains, which took them to a six-week intraday high, after the Institute for Supply Management reported U.S. factory output last month fell to the lowest level since July 2009. People are looking for economic news to see what's going on, and China's manufacturing number is a good sign, said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. The ISM brought investors back to earth and took out whatever enthusiasm there was over the Chinese numbers earlier. Oil for January delivery gained 18 cents to $89.09 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19. Prices advanced 3.1 percent last month and are down 9.9 percent in 2012.
Support
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Resistance
|
|
+CLF13
|
88.37
|
90.03
|
87.68
|
91.00
|
|
86.02
|
92.66
|
@ESZ12
(Bloomberg) U.S. stocks fell, following a two- week advance for the Standard & Poor's 500 Index, as an unexpected contraction in manufacturing spurred concern about the potential economic toll from the so-called fiscal cliff. DuPont Co., the most valuable U.S. chemical maker, fell 1.7 percent, leading raw-materials producers to the biggest drop among 10 S&P 500 groups. Dell Inc. (DELL) rallied 4.4 percent after Goldman Sachs Group Inc. recommended buying the shares. The S&P 500 dropped 0.5 percent to 1,409.46 at 4 p.m. in New York. The Dow Jones Industrial Average lost 59.98 points, or 0.5 percent, to 12,965.60. More than 5.6 billion shares traded hands on U.S. exchanges today, or 9.4 percent below the three- month average, according to data compiled by Bloomberg. The fiscal cliff concerns are actually affecting decision making at the business level,Andres Garcia-Amaya, New York- based global market strategist at JPMorgan Chase & Co.'s mutual funds unit, which oversee $400 billion in assets, said in a phone interview. China is starting to show signs of life. The U.S. was showing signs of life, but we have the geopolitical issue that's impeding us from moving forward. All in all, just confusing the market.
Support
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Resistance
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|
@ESZ12
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1398.75
|
1418.25
|
1392.00
|
1430.50
|
|
1372.75
|
1449.75
|
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