• Analytics
  • News and Tools
  • Market News

Market News

ATTENTION: The content in the news and analytics feed is updated automatically, and reloading the page may slow down the process of new content appearing. We recommend that you keep your news feed open at all times to receive materials quickly.
Filter by currency
02.03.2011
19:38
US: Beige book for March 15 FOMC

"Оverall economic activity continued to expand at a modest to moderate pace in Jan & early Feb" after expanding moderately in Jan. All 12 dists reported growth, vs 12 in Jan and 10 in Dec. Retail sales increased in all areas except Richmond & Atlanta, and mfg was better everywhere. Tourism improved but was worse in NY and KC. Some Dists "reported a slight increase" in residential real estate though it remains at a low level. Some saw better comm'l real estate. Most regions saw an increase in nonfinancial services. Loan demand was mixed. Non-wage input costs rose, but wage pressures remained minimal. There were some hints of price pressures: many mfrs said to be passing thru higher inputs, retailers are hiking prices or planning to, and jobs mkt was better in all areas. Book was summarized at Atlanta Fed based on info up to Feb 1

19:27
Goldman: "the ADP numbers and yesterday's strong ISM manufacturing employment index point to some upside risk to our preliminary forecast for a 200,000 jobs increase on Friday."
19:26
American focus: dollar remains under pressure

The dollar fell against most of its major counterparts, reaching the weakest level versus the euro in almost three months, as oil rose above $100 a barrel for a second day amid unrest in North Africa and the Middle East.
Crude oil for April delivery climbed as much as 2.8 percent to $102.37 a barrel in New York as turmoil in North Africa and the Mideast spread, fueling concern supplies will be disrupted.
Libyan forces loyal to Muammar Qaddafi counterattacked rebels in the east coast, where much of the country’s crude is refined or shipped abroad.

The euro gained versus most major currencies after a report showed European producer-price inflation accelerated more than forecast in January, adding to speculation the central bank will signal tightening monetary policy at its meeting tomorrow.
“The strength in the euro isn’t going to go away until post press release from the European Central Bank,” said Andrew Wilkinson, senior market analyst at Interactive Brokers Group LLC in Greenwich, Connecticut. “Until then, it’s just too easy for interest-rate speculators to push the euro higher.”
The euro erased early losses after factory-gate prices in the euro region jumped 6.1 percent from a year earlier, following a 5.3 percent rise in December, the European Union’s statistics office in Luxembourg said today. That’s the fastest since September 2008.
“There is broad dollar selling across the board; the market is clearly sensing negative effects of higher oil prices on the dollar,” said John McCarthy, director of currency trading at ING Groep NV in New York. “There is decent willingness to sell dollars, but no one is panicking -- that will turn around when oil gets high enough to scare the equity market.”
New Zealand’s dollar was the worst major performer after the prime minister said he expected an interest-rate cut. The Swiss franc rose to a record versus the greenback.

18:14
Goldman: "the ADP numbers and yesterday's strong ISM manufacturing employment index point to some upside risk to our preliminary forecast for a 200,000 jobs increase on Friday."
17:37
Dow -30.08 at 12027.94, Nasdaq +2.89 at 2740.30, S&P -2.27 at 1304.60

Stocks have extended their downturn so that the Dow and S&P 500 are now in the red. The Nasdaq, now barely positive, continues to find support from semiconductor stocks, which are up 1.1% as a group.
Oil prices continue to drive action among stocks. The energy component recently pushed past $102 per barrel, which makes for a fresh session high.
Oil's hike hasn't helped energy stocks, however. Instead, the sector is down 0.5% as it gets caught up in broader market selling pressure.

16:38
FED: Bernanke reiterated US econ still needs support but Fed will eventually unwind QE.
16:36
FED: Bernanke reiterates Fed learned lessons of '70s and will keep inflation and expectations in check.
16:34
FED: Bernanke said recession is over but US econ is not yet back to normal.
16:34
Dow +43.90 at 12101.92, Nasdaq +22.77 at 2760.18, S&P +6.19 at 1312.52

Stocks are at session highs following a pullback in oil prices. Oil prices recently fell below $100 per barrel, but they have since rebounded to $100.20 per barrel so that they sport a 0.6% gain. Oil prices are still off of their session high near $101.50 per barrel.
Semiconductor stocks continue to climb, which has helped give the Nasdaq a nice lead over its counterparts. Their 2.5% advance this session follows an industry upgrade from analysts at JPMorgan. Semiconductor stocks are already up 12% this year.

16:17
FED: Bernanke is saying Fed responds to overall price level, not change in gas price.
16:02
EUR/USD rallies

EUR/USD rallies ahead of tomorrow's ECB meeting. Supply mentioned ahead of $1.3900 with a strong barrier there. Stops above $1.3900. Currebtly rate holds around $1.3885.

15:46
USD/CHF tested life low at Chf0.9202 and currently holds around Chf0.9210.
15:32
US: 25-Feb wk EIA crude oil data: Stocks -0.4m bbl to 364.4m.
15:19
GBP/USD holds higher

GBP/USD holds up with a break of $1.6350 to open a move toward $1.6370. Neat resistance is at $1.6400 (1.618% swing target of the recent pullback from $1.6330 to $1.6216). Rate currently trades around $1.6333, off recently posted highs at $1.6344.


14:50
Option expiries for today's 15:00 GMT cut:

EUR/USD $1.3750, $1.3645, $1.3600, $1.3910 
USD/JPY Y82.25, Y82.05, Y81.55
EUR/JPY Y114.00
GBP/USD $1.6400, $1.6050, $1.6040
USD/CHF Chf1.2950
AUD/USD $1.0000, $1.0050, $1.0060, $1.0100, $1.0200
AUD/NZD NZ$1.3500

14:25
Before the bell: Stocks set for weak open

U.S. stocks were set for a lower open Wednesday, following a selloff on renewed concerns about oil and the Libyan conflict.
U.S. stocks dropped Tuesday, with all three major indexes down more than 1%, as oil prices spiked to more than $100 a barrel.

World markets: World markets fell sharply Wednesday, a day after the big U.S. selloff, as forces loyal to leader Moammar Gadhafi attacked rebels in eastern Libya.
European stocks slumped at midsession. Britain's FTSE 100 slipped 0.5%, the DAX in Germany lost 0.7% and France's CAC 40 fell 0.7%.
Asian markets ended sharply lower. The Shanghai Composite slid 0.2%, while the Hang Seng in Hong Kong tumbled 1.5% and Japan's Nikkei sank 2.4%.
Economy: ADP released its latest private-sector jobs report, showing a gain of 217,000 jobs for February.
Economists had forecast the ADP report to show that private businesses hired 165,000 new workers last month, down from 187,000 in January.
A crude oil inventory report will be released at 15:30 GMT.
Companies: Warehouse retailer Costco (COST, Fortune 500) reported second-quarter earnings of $348 million, or 79 cents a share. Revenue jumped 11.3% year-over-year to $20.88 billion, slightly beating expectations. Shares edged lower in premarket trading.
Shares of Yahoo (YHOO, Fortune 500) climbed about 2% before the opening bell, amid reports that the online portal company is in talks to sell its 30% stake in its Yahoo! Japan venture.

14:16
GOLD extended the all time spot Gold high to $1436.70. Nearby resistance now seen at $1440 with stronger at $1450.
13:55
EUR/GBP rises

EUR/GBP edges above stg0.8500 amid euro. Reported offers seen placed between stg0.8500/05, a break to open a move toward stg0.8520/25.

13:32
Canada Raw Material Price Index (Jan) 0.3%
13:24
Reaction on news:

EUR/USD falls down to $1.3810 area following the ADP report but flows said very light. Euro continues to tread very familiar territory below $1.3850. Demand mentioned at $1.3800. Offers remain atop $1.3850 area of recent highs.


13:16
US: Feb ADP pvt payrolls +217k.
13:05
EU session review: Euro up; faltering risk appetite supports dollar

Data released
10:00     EU(17)     PPI (January)    1.5%    0.9%    0.8%
10:00     EU(17)     PPI (January) Y/Y    6.1%    5.5%    5.3%

The euro inched up on Wednesday, driven by expectations of higher official rates, although subdued risk appetite is likely to put a lid on gains and keep the dollar off a 3-1/2 month low versus a basket of currencies.
European Central Bank policymakers meet on Thursday, and with euro zone inflation well above its target, markets see the central bank sharpening its anti-inflation rhetoric.
But gains in the common currency risk a correction as geopolitical turmoil continues to fuel uncertainty and higher energy prices, causing stocks to tumble on  Wednesday.
Concerns higher oil prices could hamper a global recovery are likely to erode investors' appetite for risk and drive them towards currencies like the U.S. dollar and Swiss franc, considered a safe-haven in times of stress.
"We have a deteriorating geopolitical situation which will see the U.S. dollar supported," said Ian Stannard, senior currency strategist at BNP Paribas.
Investors are nervous that the Middle-East crisis could spread, engulfing key oil producer Saudi Arabia, where financial markets have come under heavy selling pressure.
"Overall the risks for the euro are also rising, but ahead of the ECB meeting we expect it to be well supported," Stannard said. "But after the ECB meeting, we could see sovereign debt problems returning and that could see the euro under pressure."
The euro received a boost from data which showed euro zone producer prices rising in January at their highest rate in the history of the single currency, driven by energy costs. Despite this, the single currency has failed to clear the one-month high of $1.3857 it struck on Monday.
Economists say the ECB will hold fire on rates until at least October, but financial markets are betting on an earlier hike from the current record low of 1%.

EUR/USD strongly rose from $1.3740 to $1.3842 before retreated a bit. Resistance comes at Monday's high on $1.3857.

GBP/USD rose after a strong Construntion CPI data. Rate gained from $1.6210 to $1.6322 before back off under $1.6300.

USD/JPY fell from Y82.10 before set stable within the Y81.80/00 range.

Analysts say further dollar gains will depend on U.S. data.
Data on Tuesday showed U.S. manufacturing grew in February at its fastest rate in nearly seven years. The data supported forecasts for a strong improvement in U.S. non-farm payrolls due on Friday, which could give the dollar a boost.
Analysts expect payrolls to rise by 185,000, after a tepid 36,000 rise in January.

12:48
ADP Employment Change is due to come at 13:15 GMT.

The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people. A rise in this indicator has positive implications for consumer spending which stimulates economic growth. Generally speaking, a high reading is seen as positive, or bullish for the USD. Median is 184K after previous 187K in Jan.

12:23
GOLD TECHS:

Gold reaches a new record high at $1435.00ю Currently initial resistance comes at daily Bollinger band top and the Jan 28 rising channel top at $1439.8/1442.1. Daily studies have a slight bullish tone albeit overbought. Initial support seen from the Jan 3 reversal high at $1423.80 then support seen as the 5-DMA at $1419.10.

12:00
EU focus: Swiss Franc gains on safety demand; Euro rises after PPI report

The Swiss franc strengthened against the dollar as oil prices rose above $100 a barrel for a second day amid unrest in North Africa and the Middle East, fueling demand for the currency as a haven.

The euro rose versus the dollar and yen after a report showed European producer-price inflation accelerated more than economists estimated in January.
Factory-gate prices in the euro region jumped 6.1% from a year earlier, after increasing 5.3% in December, the European Union’s statistics office said today. That’s the fastest since September 2008 and more than the 5.7% gain forecast by economists before the report.
Libyan rebels braced for renewed clashes with forces loyal to leader Muammar Qaddafi and Al Arabiya television reported Iranian protesters fought with security forces. New Zealand’s dollar fell to the lowest level this year after Prime Minister John Key said he expected a cut in the nation’s benchmark rate. 

The focis is on the US data now. US data starts at 1315GMT with the ADP National Employment Report.

At 1500GMT, Federal Reserve Chairman Ben Bernanke is back, giving his semi-annual monetary policy report to the House Financial Services Committee in Washington.

 

11:20
EUR/USD holds higher

EUR/USD printed high on $1.3837 and retreated a bit, but the focus is on the upside. Next resistance seen at the NY high at $1.3852, with stronger area noted between $1.3855/65 ($1.3862 - Feb2 high). Stops remain at $1.3865/75. Option barrier interest at $1.3860 and $1.3875. Larger barrier interest seen at $1.3900 with offers there and stops above $1.3885.

10:47
GBP/USD rises

GBP/USD follows euro's rise and breaks earlier highs on $1.6300, currently holding around $1.6310. rate exposed offers at $1.6300/05 ($1.6303 76.4% $1.6330/1.6216), and the upside target now is at Tuesday's high at $1.6330. Offers may come from $1.6330/50 to $1.6325/45. Further offers suggested toward an option barrier at $1.6350. Stops remain above.

10:25
FTSE -63.24 -1.07% 5,872.52, CAC -51.20 -1.26% 4,015.95, Dax -90.95 -1.26% 7,132.35
10:02
EMU Data: Jan Industrial PPI +1.5% M/M, +6.1% Y/Y
09:50
Option expiries for today's 15:00 GMT cut:

EUR/USD $1.3750, $1.3645, $1.3600, $1.3910 
USD/JPY Y82.25, Y82.05, Y81.55
EUR/JPY Y114.00
GBP/USD $1.6400, $1.6050, $1.6040
USD/CHF Chf1.2950
AUD/USD $1.0000, $1.0050, $1.0060, $1.0100, $1.0200
AUD/NZD NZ$1.3500

09:38
Asian session: The dollar strengthened

Data:
00:30 Australia Gross Domestic Product (QoQ) (Q4) 0.7%
00:30 Australia Gross Domestic Product (YoY) (Q4) 2.7%

The dollar strengthened for a second day against the euro as Asian stocks declined after unrest in North Africa and the Middle East boosted oil prices, spurring concern the global recovery will falter.
The U.S. currency advanced as Libyan rebels braced for renewed clashes with forces loyal to leader Muammar Qaddafi and Al Arabiya television reported Iranian protesters clashed with security forces. 
New Zealand’s dollar fell toward the lowest this year after Prime Minister John Key said he expected a cut in the nation’s benchmark rate. 
The Dollar Index, which tracks the dollar against the currencies of six major U.S. trading partners such as the euro, rose 0.2 percent to 77.123 today.

EUR/USD: the pair decreased in around $1,3770.
GBP/USD: the pair bargained within the limits of $1,6250-$ 1,6330.
USD/JPY: the pair shown high above mark Y82,00 then decreased.

The main core-European release is industrial PPI for January, which is expected to rise by a reading of 1.1% m/m, 5.8% y/y. 
US data starts at 1200GMT with the weekly MBA Mortgage Application Index and is followed by Challenger Layoffs data at 1230GMT.Fed speakers start at 1300GMT when Kansas City Fed President Thomas Hoenig delivers a speech to the Council on Foreign Relations in New York. The ADP National Employment Report then follows, at 1315GMT. At 1500GMT, Federal Reserve Chairman Ben Bernanke is back, giving his semi-annual monetary policy report to the House Financial Services Committee in Washington.
Data then continues with the 1500GMT release of the latest  Help-wanted Online index and also the 1530GMT release of EIA Crude Oil Stocks data. Later on, the Fed releases it's latest Beige Book, at 1900GMT. 

09:31
UK: Feb CIPS construction survey 56.5
09:17
Forex: Tuesday's review

The dollar fell against most of its major counterparts as Federal Reserve Chairman Ben S. Bernanke said rising oil and commodity prices probably won’t boost broader inflation and interest rates will likely remain low.
Experience with price gains in recent decades, along with currently stable labor costs, suggests a “temporary and relatively modest increase in U.S. consumer price inflation,” Bernanke told the Senate Banking Committee in his semiannual monetary policy testimony.
Bernanke reiterated the Fed’s outlook that while growth will accelerate this year, he still wants to see a “sustained period of stronger job creation.”
The euro gained versus the dollar as the European Commission raised its growth forecast and said inflation may stay above the European Central Bank’s limit for most of 2011.
The dollar briefly erased losses against the euro after the Institute for Supply Management’s factory index increased to 61.4. from 60.8 in February, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth. 
The ISM’s measure of new orders in the U.S. rose in February to 68, the highest since January 2004, from 67.8. The employment gauge jumped to 64.5, the highest since January 1973, from 61.7 in the prior month.

EUR/USD: the pair bargained within the limits of $1,3740-$ 1,3770.
GBP/USD: the pair bargained within the limits of $1,6215-$ 1,6275.
USD/JPY: the pair shown high in the field of Y82,20 then decreased.
US data starts at 1200GMT with the weekly MBA Mortgage Application Index and is followed by Challenger Layoffs data at 1230GMT.Fed speakers start at 1300GMT when Kansas City Fed President Thomas Hoenig delivers a speech to the Council on Foreign Relations in New York. The ADP National Employment Report then follows, at 1315GMT. At 1500GMT, Federal Reserve Chairman Ben Bernanke is back, giving his semi-annual monetary policy report to the House Financial Services Committee in Washington.
The main core-European release is industrial PPI for January, which is expected to rise by a reading of 1.1% m/m, 5.8% y/y. 
UK: The UK starts the main data calendar with the release of PMI Construction data at 0930GMT.
Data then continues with the 1500GMT release of the latest  Help-wanted Online index and also the 1530GMT release of EIA Crude Oil Stocks data. Later on, the Fed releases it's latest Beige Book, at 1900GMT. 

08:23
Stocks: Tuesday's review

Japanese stocks rose for a third day, sending the Nikkei 225 Stock Average to its biggest gain in almost a month, as declining oil prices eased concern about energy costs and reports showed the economy is improving.
Mitsubishi UFJ Financial Group Inc., Japan’s largest bank by market value, climbed 3.3 percent. Shinsei Bank Ltd. surged 7.7 percent after the lender partly owned by J. Christopher Flowers had its rating increased at Credit Suisse Group AG. Dentsu Inc., Japan’s largest advertising company, leapt 4.9 percent after Facebook Inc. hired it as a sales and marketing representative.
Japan’s unemployment rate held steady at 4.9 percent in January while the number of people in work increased by 170,000, the statistics bureau said.

European stocks retreated as oil surged amid concern anti-government protests in the Middle East may spread, overshadowing signals from China to Germany that the global economy is strengthening.
United Business Media Ltd. sank the most in almost four years after saying margins narrowed at its news and data- services divisions. HSBC Holdings Plc fell for a second day as Deutsche Bank AG and UBS AG downgraded Europe’s largest bank. Cookson Group Plc soared 5.2 percent as the world’s biggest maker of ceramic linings for metal smelters returned to profit and paid its first dividend since 2008.
China’s Purchasing Managers’ Index for February was 52.2, the China Federation of Logistics and Purchasing said today. That’s the 24th straight month the reading has remained above 50, signaling expansion in manufacturing
German joblessness plunged in February to the lowest since September 1992 as demand for machines and cars surged, the Federal Labor Agency said.

U.S. stocks slid, sending the Standard & Poor’s 500 Index to its first drop in three days, as concern that rising energy costs will hurt the economic recovery overshadowed the fastest manufacturing growth since 2004.
The Institute for Supply Management’s factory index increased to 61.4, the highest since May 2004, from 60.8 in January. Readings greater than 50 signal growth. Estimates of the economists ranged from 58.7 to 63.3, with the median at 61.
Alcoa Inc. and Titanium Metals Corp. fell at least 2.9 percent as crude rose above $99 a barrel amid escalating unrest in the Middle East and northern Africa. Fifth Third Bancorp dropped 5 percent after receiving a subpoena from the Securities and Exchange Commission for information on commercial loans. Carnival Corp. slid 6.3 percent after the chief operating officer of the largest cruise-line operator sold 180,000 shares.
Stocks erased an earlier advance after crude oil extended gains amid concern unrest will spread from Libya to Iran. Oil climbed as much after 1.9 percent as authorities in Iran, the second-largest producer in the Organization of Petroleum Exporting Countries, arrested opposition leaders to derail demonstrations scheduled for today.
Federal Reserve Chairman Ben S. Bernanke, testifying to the Senate Banking Committee in Washington, said the surge in oil probably won’t cause a permanent increase in inflation and repeated that interest rates are likely to stay low. His comments suggest the Fed will stay on course to complete $600 billion of Treasury purchases through June in an effort to suppress borrowing costs and safeguard the economic recovery.

08:04
Tech on USD/JPY

Resistance 3:Y82.90 (Feb 23 high) 
Resistance 2:Y82.45 (МА(200) for Н1) 
Resistance 1:Y82.25 (Mar 1 high)    
Current price: Y81.92
Support 1:Y81.80 (session low)
Support 2:Y81.60 (Feb 24 and 28 low)
Support 3:Y81.30 (support line from Dec 31)    
Comments: the pair bargains in a narrow range. The nearest resistance - Y82.25. Above growth is possible to Y82.45. The nearest support - Y81,80. Below losses  are possible to Y81.60. 

07:53
Tech on USD/CHF

Resistance 3: Chf0.9440 (38.2 % FIBO Chf0.9775-Chf0.9230)
Resistance 2: Chf0.9390 (Feb 23 high)
Resistance 1: Chf0.9320 (Feb 25 and 28 high)
Current price: Chf0.9275
Support 1: Chf0.9230 (Feb 24 low)
Support 2: Chf0.9200 (psychological mark)
Support 3: Chf0.9100 (psychological mark)
Comments: essential changes hasn't occured. The nearest support - Chf0.9230. Below loss may extend to Chf0.9200. The nearest resistance-Chf0.9320. Above is located Chf0.9390. 

07:43
Tech on GBP/USD

Resistance 3: $ 1.6450 (high of Jan 2010)
Resistance 2: $ 1.6320 (Mar 1 high)
Resistance 1: $ 1.6275 (session high)
Current price: $1.6226
Support 1 : $1.6210 (session low)
Support 2 : $1.6160 (Feb 25 high)
Support 3 : $1.6050 (support line from Feb 11th)
Comments: the pair decreases. The nearest support $1.6210. Below is possible testings of around $1.6160. The nearest resistance $1.6275. Above growth is possible to $1.6320. 

07:33
Tech on EUR/USD

Resistance 3: $ 1.3980 (Nov 11 high)
Resistance 3: $ 1.3860 (Feb 2 and 28, Mar 1 high)
Resistance 1: $ 1.3790 (session high)
Current price: $1.3753
Support 1 : $1.3740 (session low)
Support 2 : $1.3700/10 (Feb 24 and 28 low)
Support 3 : $1.3660 (support line from Jan 10)
Comments: the pair decreased. The nearest support $1,3740. Below losses  are possible to $1.3700/10. The nearest resistance $1.3790. Above growth is possible to $1,3860.

06:57
Schedule for today, Wednesday, Mar 2 2011:

10:00 EU(17) PPI (January) 0.9% 0.8%
10:00 EU(17) PPI (January) Y/Y 5.5% 5.3%
13:15 USA ADP employment (February) +162K +187K
19:00 USA Fed Beige book

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location