posted by Admin on Feb 8
This was one of the most volatile weeks the markets have had in quite some time. The markets began the week attempting to bounce from near term oversold conditions and rallying to the prior weeks highs. However, they gave way to steep declines on Thursday and most of Friday on a large increase in volume. By mid-day Friday, it seemed like the indexes would finish off the week at their lows but in the afternoon the bulls mounted a strong assault on the bears, firmly reversing the intraday trend. All the indexes finished with slight gains on huge volume, while trading well off their intraday lows and forming a candle pattern commonly referred to as a hammer.
posted by Admin on Feb 4
The euro continues to trade at circa 1.385 against the dollar as comments emanating from the IMF states that they would be prepared to help Greece if necessary, but they are confident that the Greeks will be able to deal with their financial crisis without intervention. The Greek government has put together a three-year plan to repair their economy.
Market News
Both the UK and Eurozone had rates left unchanged at 0.5% and 1% respectively
The Bank of England have halted their quantative easing programme after 11 months of asset buying
The Dollar Index rallied against a basket of other major currencies
Please note that we are scheduled to see non-farm payroll figures released tomorrow ahead of the opening bell
Major Economic News
TIME MARKET DATA
1330 Initial Claims
posted by Admin on Dec 15
The dollar strengthened against the Euro and the Japanese Yen ahead of tomorrow’s Interest Rate decision, albeit it has fallen back in early trade. Relief that the Dubai and Greek debt situations have been clarified has in part added to confidence levels.
Market News
The Dubai loan has tempered fears over further sovereign debt defaults
Commenting on sovereign debt, Moody’s stated this morning that they feel that AAA rated countries should look to reduce debt as opposed to waiting for the economies to improve
Fitch commented this morning that China avoided recession, but risks remain in place
Major Economic News
TIME MARKET DATA
1330 Core PPI
