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Blog / Forex news / --->29-04-11 - Daily Market Review

--->29-04-11 - Daily Market Review

4/29/2011
 
 
  Important Financial Indicators of the day Forecast Previous
EUR 09:00 (GMT) CPI Flash Estimate y/y 2.7% 2.7%
EUR 09:00 (GMT) Unemployment Rate 9.9% 9.9%
CAD 12:30 (GMT) GDP m/m 0.0% 0.5%
USD 12:30 (GMT) Core PCE Price Index m/m for March 0.1% 0.2%
USD 12:30 (GMT) Employment Cost Index q/q for Q1 0.5% 0.4%
USD 16:30 (GMT) Fed Chairman Bernanke Speaks    

Currencies

  • EUR/USD The dollar fell for a sixth day on Thursday as stocks rose and prompted currency traders to shift out of perceived safe assets and into riskier ones.
    • The euro increased 0.09% and traded as high as $1.4881.

  • USD/JPY Falling US Treasury yields following weaker than expected US GDP and jobless claims data, forced the pair to stay under pressure during US session.
    • The USD/JPY could only manage a 81.48/65 range during the morning session.

  • GBP/USD The greenback dipped to a 21-month low before lackluster U.S. data on weekly jobless claims and first-quarter economic growth.
    • The British pound advanced 0.13% to $1.6637 from $1.6635.

Commodities

  • Gold is set for its biggest monthly advance since November 2009 as a weakening dollar and accelerating inflation prompted investors to buy precious metals as a store of value.
    • The U.S. economy slowed more than forecast in the first quarter as government spending declined by the most since 1983 and household purchases cooled.
    • Immediate-delivery gold was little changed at $1,534.72 an ounce at 10:25 a.m. in Singapore after touching a record $1,540.85 an ounce earlier.
    • Bullion for June delivery in New York rose 0.2 percent to $1,534.80 an ounce.
  • Oil dropped from a 31-month high in New York on signs the U.S. economy is slowing, signaling fuel demand in the world's biggest crude-consuming nation may falter.
    • Crude for June delivery fell as much as 48 cents to $112.38 a barrel in electronic trading on the New York Mercantile Exchange. It was at $112.49 at 1:02 p.m. Sydney time.

Equities

  • U.S.stocks shifted in and out of positive territory after data showing the rate of growth in the US economy had slowed during the first three months of 2011.
    • The S&P 500 added 0.3 percent to 1,360.48.
    • The Dow Jones Industrial Average gained 0.6 percent, to 12,763.31.

  • European stocks rose for a sixth day, extending an eight-week high, as Deutsche Bank AG's earnings beat estimates and the Federal Reserve pledged to keep rates low for an "extended period".
    • Deutsche Bank surged the most in almost a year as Germany's biggest bank reported a 17 percent increase in first-quarter profit.
    • U.K's FTSE 100 added less than 0.1 percent to 6,069.90.
    • Germany's DAX gained 1 percent to 7,475.22 and France's CAC 40 advanced 0.9 percent to 4,104.90.

  • Asian stocks fell, with a regional benchmark index dropping for the first time in three days, as U.S. economic growth and South Korean industrial production slowed, sparking concern company earnings may falter.
    • The MSCI Asia Pacific Excluding Japan Index sank 0.8 percent to 504.03 at 1:30 p.m. in Hong Kong.
    • Japan's Nikkei 225 Stock Average rose about 1.6 percent to 9,849.74.
    • Hong Kong's Hang Seng Index slipped 0.5 percent, while China's Shanghai Composite Index was little changed.

Sources: Bloomberg, FT


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