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03.02.2011
20:02
January payrolls median estimate +136k.
19:41
Dow -0.71 at 12041.26, Nasdaq -1.02 at 2748.54, S&P -0.62 at 1303.41

Stocks remain stuck in a listless fit of trading for the second straight session. That has the S&P 500 headed for another relatively flat finish.

19:08
EUR/USD under pressure after Bernanke remarks

Eased lower again as US yields continue to firm against the backdrop of Bernanke remarks, the pare now back at $1.3620 and toward the session lows nearby. Bids remain at $1.3600 area but stops are said clustered below there. Further out, area of $1.3570 low of the week becomes visible, bids and stops to surround, but better bids at $1.3550 mentioned. 

19:03
FED, Bernanke: US econ has strengthened recently but unemployment to remain high and inflation low
  • Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.
  • We will review the asset purchase program regularly in light of incoming information and will adjust it as needed"
  • we have the necessary tools to smoothly and effectively exit from the asset purchase program at the appropriate time.
  • In particular, our ability to pay interest on reserve balances held at the Fed will allow us to put upward pressure on short-term market interest rates and thus to tighten monetary policy when required, even if bank reserves remain high.
  • Moreover, we have developed additional tools that will allow us to drain or immobilize bank reserves as required to facilitate the smooth withdrawal of policy accommodation when conditions warrant. If needed, we could also tighten policy by redeeming or selling securities.
  • Will start seeing stronger jobs data 'pretty soon.' Employers are more willing to hire.
  • US needs to grow 2.5% just to stay in place, with unemployment not rising.

 

18:49
FED: Bernanke reiterated US needs to grow 2.5% just to stay in place, with unemployment not rising.
18:44
FED: Bernanke said will start seeing stronger jobs data 'pretty soon.' Employers are more willing to hire.
18:25
FED: Bernanke's text

"US econ has strengthened recently but unemployment to remain high and inflation low. Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established. We will review the asset purchase program regularly in light of incoming information and will adjust it as needed" ... we have the necessary tools to smoothly and effectively exit from the asset purchase program at the appropriate time. In particular, our ability to pay interest on reserve balances held at the Fed will allow us to put upward pressure on short-term market interest rates and thus to tighten monetary policy when required, even if bank reserves remain high. Moreover, we have developed additional tools that will allow us to drain or immobilize bank reserves as required to facilitate the smooth withdrawal of policy accommodation when conditions warrant. If needed, we could also tighten policy by redeeming or selling securities."

17:50
American focus: the pound has gained support.


The pound climbed to a two-week high versus the euro after the European Central Bank left its main interest rate at a record low, damping bets the common currency’s yield advantage over the U.K. will widen.
Sterling appreciated against most of the 16 most actively traded currencies monitored today, reaching a three-month high against the dollar. The ECB left the benchmark rate at 1 percent for a 22nd month while President Jean-Claude Trichet, who last month announced he would do what’s necessary to contain inflation, said rates are “appropriate” for now as price pressures remain balanced.
“The market was expecting a step up in the hawkishness from Trichet and that never happened, which is why the euro is coming off,” said Audrey Childe-Freeman, a head of European currency strategy at JPMorgan Chase & Co.’s private bank in London. “With the more encouraging economic data coming out of the U.K. the expectations for a U.K. rate hike could move forward and that’s providing sterling with some upside, especially against the euro.”
The pound appreciated 1.1 percent to 84.38 pence per euro, the strongest intraday level since Jan. 20, before trading at 84.45 as of 5:07 p.m. in London. Britain’s currency was 0.3 percent weaker at $1.6152 after earlier gaining 0.5 percent to $1.6279, the strongest since Nov. 5.
Euro-area inflation is already in breach of the ECB’s 2 percent limit, accelerating to 2.4 percent in January, the fastest in more than two years. Inflation expectations remain “firmly anchored,” Trichet said today.

17:00
US DATA: "U.S. chain store sales posted a strong 4.8 percent year-over-year comparable-store gain for January 2011 according to the International Council of Shopping Centers (ICSC).
Retailers weathered the storms in January, both literally and figuratively, besting ICSC's initial forecast, said Michael P. Niemira, chief economist and director of research for ICSC. This gain is encouraging especially given the drag on sales created by the winter storms in the Northeast and Southeast, and suggests relatively healthy underlying consumer demand, iemira added. For February, ICSC projects sales will increase by 2.5-3.0%."
16:38
Dow -18.46 at 12023.51, Nasdaq -10.23 at 2739.33, S&P -4.04 at 1299.99
Transportation stocks are having a relatively strong session. In turn, the Dow Jones Transportation Index is up 0.9%. Even shares of Con-way (CNW 33.56, +0.19) have caught a solid bid, despite the company's failure to hit the consensus earnings and revenue estimate. Airline stocks are also up nicely as the Amex Airline Index sports a 0.7% gain. Delta Air Lines (DAL 11.85, +0.50) is up more than 4%. The company is slated for the Raymond James Global Airlines Conference today.
16:06
US DATA REACT: Barclays says rising nonfmg ISM is
"an encouraging indication that the service sector recovery is in full swing, with the headline composite index at its highest level since August 2005 and the employment index at its highest since May 2006. Together with the upside surprise on the manufacturing ISM, these data indicate that the recovery has broadened in scope."
15:41
Pierpont Securities says Jan nonmfg ISM was little impacted by bad weather.
"The only indices that declined were the inventory and inventory sentiment gauges, suggesting that firms are (either voluntarily or not) running their stocks down in the face of vigorous demand."
15:18
Dow -14.00 at 12027.97, Nasdaq -0.68 at 2748.88, S&P -1.48 at 1302.55

    Stocks continue to chop along in negative territory, despite a dose of upbeat data. Meanwhile, the dollar has pushed to a 0.8% gain, which makes for a session high against a basket of major foreign currencies.


The ISM nonmanufacturing Composite for January came in at a five-year high of 59.4, which is better than the 57.0 that had been expected, on average, by economists polled by Briefing.com.

Factory orders for December were also just posted. They increased 0.2% after a 1.3% increase in the prior month. The Briefing.com consensus called for a 0.6% decline.

Advancing Sectors: Consumer Discretionary (+0.7%), Telecom (+0.2%), Consumer Staples (+0.1%) 
Declining Sectors: Energy (-0.7%), Health Care (-0.6%), Materials (-0.5%), Financials (-0.4%), Tech (-0.4%), Utilities (-0.3%), Industrials (-0.3%)

15:03
US DATA: Dec factory new orders +0.2%; well above the -0.4% expected. Ex-def new orders also +0.2%.
Nondurable orders +2.3% led by oil/coal, chemicals, fertilizer. Non-def aircraft/parts orders -99.5%. Total factory orders ex transport +1.7%. Total Nov orders rev to +1.3%. (prv +0.7%). The NSA annual orders change +11.95%. Factory shipments +2.0% as was shipments ex-defense. Factory inventories +1.1%. Unfilled orders -0.4% after 8 mos of increases. Inv-to-ship ratio 1.26, a little under Nov's 1.27.
15:03
US DATA: Jan nonmfg ISM 59.4 vs 57.1.
14:50
ECB Trichet: Current rates appropriate
  •  Evidence of s-t upside infl pressure;
  •  Infl pressure mainly energy, commodities;
  •  Very close monitoring of infl warranted;
  •  See positive underlying econ momentum;
  •  Uncertainty elevated;
  •  Infl pressures over m- to l-t shld stay contained;
  •  Infl expect firmly acnhored;
  •  Firm anchoring of excpect is of the essence;
  •  Expect price stab over medium term;
  •  Current policy accommodative;
  •  Recent statistics,surveys show positive econ momentum;
  •  Exports shld benefit from global econ recvoery;
  •  High emu biz confidence shld help domestic demand;
  •  Accom monpol stance shld help comestic demand in emu;
  •  Recovery to be dampened by balance sheet adjustment;
  •  Risks tilted to downside for econ;
  •  Uncertainty elevated;trade may grow above expected.


14:38
US OUTLOOK: Nomura altered their payroll ests, saying
"we have concluded that the big winter storms that battered the eastern third of the US during the week of 11 January are likely to lead to an initially reported decline in non-farm payrolls." They now forecast NFP at -5,000.
14:03
Before the bell: U.S. stocks were set for a flat open Thursday, as investors awaited another round of earnings and the government's latest jobless claims figures.

 


Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were flat ahead of the opening bell. Futures measure current index values against perceived future performance.

Stocks ended little changed Wednesday, as uncertainty about Egypt hung over the market -- two days before the government's all-important jobs report.

"People are positioning for Friday's jobs report which will be exceedingly important -- the ADP number yesterday gave some hope that the number will be good, but we also need to set up for disappointment if it isn't," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

"The situation in Egypt is also turning a bit more violent and that's disturbing for investors as well, so we'll also be keeping an eye on that to see if it will spread," he added.

All of that uncertainty is likely to muffle any big gains Thursday, said Luschini.

"I wouldn't be surprised to even see the market drift lower today -- nothing dramatic but just as a symptom of having a good couple days earlier in the week and investors just being cautious going into tomorrow's report," he said.

Economy: Weekly jobless claims data is due before the start of trading, with 425,000 Americans expected to file new claims for unemployment -- 454,000 filed in the previous week. The number of Americans filing for a second week or more is expected to decrease slightly.

Factory orders from the Commerce Department will be released after the start of trading. Orders are forecast to have dropped 0.6% in December, after increasing 0.7% in November.

The ISM services sector index for January is expected to have decreased to 57.0, from 57.1 in December.

Readings on unit labor costs and fourth-quarter business productivity are also due.

Thursday afternoon, Federal Reserve chairman Ben Bernanke will address the National Press Club in Washington.

Companies: Before the opening bell, Tokyo-based Sony Corp. (SNE) logged a 8.6% drop in quarterly profit. But the results were better than what Wall Street had expected and Sony kept its full-year outlook intact, sending Sony's shares about 1% higher.

Shares of KFC-owner Yum Brands (YUM, Fortune 500) added 3% in premarket trading, a day after the company reported strong earmings.

MasterCard (MA, Fortune 500) and New York Times (NYT) are also on deck to report their quarterly earnings for Thursday morning.

Meanwhile, the nation's major retailers are releasing January same-store sales figures throughout the morning, with more than two-thirds of retailers posting better-than-expected results so far, compared with ThomsonReuters estimates.

Shares of Limited (LTD, Fortune 500) jumped more than 4% in pre-market trading after the clothing company logged a 24% climb in January sales and boosted its fourth-quarter earnings outlook.

Shares of BJ's Wholesale Club (BJ, Fortune 500) surged 12% after the retailer said it is considering selling the company. It also said January sales rose 6.5% from the same month a year ago.

13:36
US DATA: Initial jobless claims -42k to 415k in Jan. 29 wk, below expectations of 425k.

 Labor analyst says drop 'is the backside' of the unexpected surge in claims last wk from 4 southeast states - they are among largest decreases this wk. Seasonal factors expected a 4.2% drop in NSA, or about 20k. Actual NSA claims -5.5%, or -26,633, to 459,683. Puerto Rico estimated. 4-wk moving avg +1k to 430,500. Cont. claims +84k to 3.925m in Jan. 22 wk. 

 --
US DATA: Prelim 4Q nonfarm productivity +2.6% (+2.0% expected), +1.7% y/y. ULC costs -0.6% (no chng expected), -0.2% y/y. 3Q prod revised to +2.4% from +2.3% prev. 3Q ULC unrevised at -0.1%. 4Q output +4.5%, hours worked +1.8%. Compensation +1.9%, real compensation -0.6%.

13:04
EU session review:Dollar strengthens on growth signs

Data released:
08:45     Italy     PMI services (January)    49.9    50.8    50.2
08:50     France     PMI services (January)    57.8    57.1    54.9
08:55     Germany     PMI services (January) seasonally adjusted    60.3    60.0    59.2
09:00     EU(17)     PMI services (January)    55.9    55.2    54.2
09:30     UK     CIPS services index (January)    54.5    51.0    49.7
10:00     EU(16)     Retail sales (December) adjusted    -0.6%    0.5%    -0.3 (-0.8)%
10:00     EU(16)     Retail sales (December) adjusted Y/Y     -0.9%    0.2%    0.8 (0.1)%
12:45     EU(17)     ECB meeting announcement 1.00% 1.00%

The dollar gained against most of its major peers before U.S. reports today and tomorrow that are forecast to show services industries grew for a 14th month and hiring increased in January.
The euro fell for the second day against the dollar as investors bet European Central Bank President Jean-Claude Trichet won’t toughen the bank’s anti-inflation stance.
European inflation accelerated last month to the fastest since October 2008, according to a preliminary estimate by the statistics office on Jan. 31. Trichet said on Jan. 26 the ECB will “do what is necessary” to maintain price stability.
“Some of the data that’s been coming out of the U.S. suggests that the economy there is improving quite nicely and the market is starting to factor in the possibility that the payrolls data will be on the stronger side,” said Michael Derks, chief strategist at FxPro Financial.
The Australian dollar gained against all its major counterparts as reports on trade and building permits added to signs of resilience in the economy.
“We had good trade data, there are some concerns over the cyclone but the market looked at this one data print and saw it in a fairly positive light, that’s the main driver,” said Chris Walker, a foreign-exchange strategist at UBS AG.
The number of permits granted to build or renovate houses and apartments in Australia advanced 8.7% in December from November, when they fell a revised 3.9%, the Bureau of Statistics said in Sydney today.
A separate report showed the trade surplus was A$1.98 billion ($2 billion) in December, compared with the median estimate of A$1.6 billion in a survey of economists.

EUR/USD rose to $1.3826 after strong PMI data but then retreated after retail sales dropped in EU. rate fell to $1.3750/55.

GBP/USD initially rose after a strong PMI report to session high on $1.6277. But offers around $1.6280/00 capped the rise and pound declined to $1.6200/95.

USD/JPY rose from Y81.50 to Y81.84.


US data starts at 1330GMT, with the latest Jobless Claims and Non-farm Productivity, Unit Labor Costs data.
US data continues at 1500GMT with the ISM Non-Manufacturing Index and also Factory Orders.
The ISM non-manufacturing index is expected to decline just slightly to a reading of 57.0 in January from the unrevised 57.1 December reading, while factory new orders are expected to fall by 0.4% on the already-announced 2.5% drop in durable goods orders. The weekly EIA Natural Gas Stocks data then follows, at 1530GMT.

12:46
ECB: Leaves rates unchanged 1.00%
12:28
Ahead of ECB's rate decision:

The ECB is widely expected to leave interest rate unchanged at 1.0% when it announces its decision at 1245GMT. However, the main focus is clearly on the ECB press conference at 1330GMT.
Trichet will likely maintain heightened anti-inflation rhetoric and reiterat that rates "still remain appropriate."
Trichet is also likely to confirm that ECB bond buys are ongoing.

12:15
CRUDE TECHS:

Daily studies on WTI are bullish after oil rose above the 5-DMA, also initial support at $90.95. Resistance seen from the Jan 31 high at $92.84, the Jan 19 high at $93.02, the Jan 3 & 12 double-top at $93.44/46 and the daily Bollinger band top at $93.89. Aug 4 resistance line seen at $94.63.

11:57
USD/JPY retreats

USD/JPY printed session high on Y81.76. Talk of some stops looming above Y81.85/95 as yet unconfirmed, but lack of momentum has turned pair back to current Y81.67.

11:40
EUR/USD falls

EUR/USD resumes decline with stops tripped through $1.3765 after some additional selling in the $1.3775/85 zone from a Russian name. Further bids lie in wait towards $1.3725/45. rate printed session low on $1.3758 and currently trades at $1.3763/65.

11:20
GBP/USD weakens

GBP/USD fell sharply from the $1.6282 high with Middle Eastern sellers noted in the fall. Bids are now placed in $1.6205/00. rate holds around $1.6210.

11:01
GOLD TECHS:

Gold holds below the 5-DMA and Jan 3 resistance line, initial resistance at $1337.3/1337.9 respectively. Spot also holds above the 38.2% Fibonacci, initial support at $1326.40. Daily studies show bull divergence. Further resistance seen from the 21-DMA at $1353.90, 100-DMA at $1360.20 and former 23.6% Fibonacci at $1366.30. Long-term support line at $1298.70.

10:40
EU focus: Rally ends as markets await fresh data

Inflation and Egypt vied for market attention on Thursday as investors watched uneasily the ongoing unrest in the Middle East linchpin while waiting for remarks from the heads of both the European Central Bank and the Federal Reserve.
Mr Trichet’s hawkishness should be a sharp contrast to his US counterpart. The Federal Reserve has been notably less concerned about inflationary pressures than its European counterparts.
Ben Bernanke is speaking to the National Press Club in Washington at 1800 GMT.
“We think he will have to depart significantly from the latest Fed statement to really affect the dollar but his comments on inflation will be interesting,” said Gareth Berry at UBS. “He recently said the risk of deflation has ‘receded considerably,’ while the Fed [statement] noted only that measures of underlying inflation have been trending downward.”

Investors are already closely monitoring inflation measures in recent economic data for signs that persistently high commodity prices are beginning to push costs further up the chain.
Investors would have been reluctant in any case to push for a strong market direction ahead of the ECB’s deliberations, but the rising violence in Egypt raised fears that the unrest could worsen and potentially spread elsewhere in the region.
“The economic data continue to come in stronger, and we’re seeing inflation that the market cares about, even if the Fed does not,” said Michael Pond, interest rate strategist at Barclays Capital.
Bulls took heart on Wednesday from the ADP employment survey, which showed 187,000 workers were added to payrolls last month – above expectations.
The real question was how this would translate into Friday’s data. Market expectations are for about 140,000 jobs to have been added.
“ADP has not been a particularly good payrolls predictor recently,” said Rob Carnell at ING. “The stronger data today give us only slightly more comfort in our (upwardly revised) 175,000 forecast for payrolls.”
Today's focus is on ECB rate decision, then on the latest Jobless Claims data. At 1500GMT the ISM Non-Manufacturing Index and Factory Orders are due to come.

10:28
GBP/JPY retreats

GBP/JPY moved higher on the UK PMI data to a session high on Y132.95 before easing to Y132.65. Cross tried to resume its gain but managed to test only Y132.88. Still cross holds higher.

10:12
EUR/USD holds tight

EUR/USD confused by the EMU retail sales data with weaker figures but a better revision for November.  Bids lie below down to $1.3770 with reported stops through $1.3765 ahead of lower bids $1.3725/45. Euro currently trades around $1.3782.

10:01
EU: Retail sales -0.6% m/m and -0.9% y/y
09:47
REACT:

Cable gains to $1.6282 after release of much stronger than expected UK Jan PMI services data. Offers mentioned ahead of $1.6300. Rate currently hods around $1.6255.

09:32
UK: UK January services PMI rises to 54.5 (fcast 52.0) vs 49.7 in December (higest since May 2010)
09:01
EMU DATA: January services PMI rises to 55.9
08:55
GERMANY: January services PMI rises to 60.3
08:52
Asian session: The dollar gained

The dollar gained against most of its major peers before U.S. reports this week that may show services industries grew for a 14th month and hiring increased in January.

The euro held three days of gains versus the yen on prospects the European Central Bank will signal a willingness to tackle inflation when policy makers meet today as data showed rising prices. 
New Zealand’s dollar slid as the jobless rate rose and its finance minister said a shrinking fiscal deficit would reduce the need for higher interest rates.

EUR/USD: the pair bargained in the field of $1.3800.
GBP/USD: the pair bargained slightly below a mark $1.6200.
USD/JPY: the pair become stronger in around Y81.70.

This morning sees the release of the European state Services PMI releases with France at 0848GMT and Germany at 0853GMT, leading up to the release of EMU final services PMI at 0858GMT, which showed a preliminary reading of 55.2. EMU retail trade data for December is due at 1000GMT and is expected to come in at 0.4% m/m, 0.2% y/y. 
The main event comes at 1245GMT when the ECB announces it's policy decision, and at 1330GMT, when ECB President Jean-Claude Trichet gives the usual press conference in Frankfurt. 
UK CIPS Services PMI data is also due, at 0928GMT, and is expected to rise to a reading of 52.0.
US data includes Store Sales data, although scheduled data also starts at 1330GMT, with the latest Jobless Claims and Non-farm Productivity, Unit Labor Costs data. Initial jobless claims are expected to fall to a level of 425,000 in the January 29 week after surging on weather-related claims in the previous week, while non-farm productivity is expected to be +2.0% on the +3.2% in GDP output. Unit labor costs are forecasted to decrease by 0.1%, the same as it was in the third quarter. US data continues at 1500GMT with the ISM Non-Manufacturing Index and also Factory Orders.
The ISM non-manufacturing index is expected to decline just slightly to a reading of 57.0 in January from the unrevised 57.1 December reading, while factory new orders are expected to fall by 0.4% on the already-announced 2.5% drop in durable goods orders. The weekly EIA Natural Gas Stocks data then follows, at 1530GMT. At 1730GMT, Federal Reserve Chairman Ben Bernanke speaks to reporters at  the National Press Club. 






08:47
OPTIONS: expiries for the 1500GMT cut:

USD/JPY Y81.50, Y81.95, Y82.05, Y82.50, Y83.10, Y83.15,  Y84.00
EUR/JPY Y111.15, Y111.80   
GBP/USD  $1.5950, $1.5980 
AUD/USD $0.9800, $0.9885, $0.9900, $1.0005, $1.0100, $1.0150, $1.0170
EUR/USD $1.3700, $1.3705, $1.3800, $1.3850

08:44
Forex: Wednesday's review

The yen weakened as a gain in Asian stocks and signs global growth is accelerating cut demand for the safety of Japan’s currency.
The pound rose against the dollar for third day as a Bank of England policy maker said borrowing costs should be increased. 
The euro climbed against the dollar on speculation European Central Bank policy makers meeting tomorrow will say they are prepared to act to counter quickening inflation. The single currency has added 3.5 percent this year against the greenback.
The pound strengthened, extending its third day of gains versus the dollar, after a report showed the U.K. construction industry returned to growth in January.
A gauge of building activity based on a survey of purchasing managers rose to 53.7 from 49.1 in December, Markit Economics Ltd. and the Chartered Institute of Purchasing and Supply said today in an e-mailed statement in London. The median forecast of economists in a survey was for a reading of 49.5. A measure above 50 indicates expansion.
Report from payroll services firm ADP reported job growth for January that was much stronger than expected (+187,000). 

EUR/USD: the pair shown high in the field of $1.3860 then  decreased.
GBP/USD: on results of yesterday's session the pair was fixed above a mark $1.6100.
USD/JPY: the pair bargained within the limits of Y81.30-Y81.90.

This morning sees the release of the European state Services PMI releases with France at 0848GMT and Germany at 0853GMT, leading up to the release of EMU final services PMI at 0858GMT, which showed a preliminary reading of 55.2. EMU retail trade data for December is due at 1000GMT and is expected to come in at 0.4% m/m, 0.2% y/y. 
The main event comes at 1245GMT when the ECB announces it's policy decision, and at 1330GMT, when ECB President Jean-Claude Trichet gives the usual press conference in Frankfurt. 
UK CIPS Services PMI data is also due, at 0928GMT, and is expected to rise to a reading of 52.0.
US data includes Store Sales data, although scheduled data also starts at 1330GMT, with the latest Jobless Claims and Non-farm Productivity, Unit Labor Costs data. Initial jobless claims are expected to fall to a level of 425,000 in the January 29 week after surging on weather-related claims in the previous week, while non-farm productivity is expected to be +2.0% on the +3.2% in GDP output. Unit labor costs are forecasted to decrease by 0.1%, the same as it was in the third quarter. US data continues at 1500GMT with the ISM Non-Manufacturing Index and also Factory Orders.
The ISM non-manufacturing index is expected to decline just slightly to a reading of 57.0 in January from the unrevised 57.1 December reading, while factory new orders are expected to fall by 0.4% on the already-announced 2.5% drop in durable goods orders. The weekly EIA Natural Gas Stocks data then follows, at 1530GMT. At 1730GMT, Federal Reserve Chairman Ben Bernanke speaks to reporters at  the National Press Club. 




08:35
Stocks: Wednesday's review

Asian stocks rose, driving up a regional benchmark index by the most in two months, after companies reported higher earnings and U.S. manufacturing expanded, boosting confidence in a global economic recovery.
Toyota Motor Corp., the world’s biggest carmaker, advanced 3.3 percent in Tokyo after saying U.S. sales rebounded. Mitsubishi Electric Corp., a maker of factory equipment and home appliances, surged 7.4 percent in Tokyo after profit exceeded analysts’ estimates. BHP Billiton Ltd., the world’s largest mining company, rose 2.4 percent in Sydney after metal prices climbed. Paladin Energy Ltd., a uranium miner, gained 5.8 percent after the company completed an acquisition.
All major benchmark equity indexes that were open for trading in the Asia-Pacific region rose. Japan’s Nikkei 225 Stock Average gained 1.8 percent, Australia’s S&P/ASX 200 Index increased 0.9 percent and India’s Sensitive Index added 0.4 percent. Hong Kong’s Hang Seng index advanced 1.8 percent and Singapore’s Straits Times Index climbed 0.8 percent in half-day trading ahead of the Lunar New Year holiday.
Most European stocks fell as companies from Electrolux AB to Scania AB announced results that disappointed investors.
Electrolux led a selloff in Swedish stocks, sinking 7.9 percent after forecasting “modest” growth in North America and Europe this year, while Scania slid 2 percent after warning the stronger kronor will hurt the first quarter. Imperial Tobacco Group Plc rose 5.9 percent as it plans to pay more in dividends.
The Stoxx Europe 600 Index gained 0.1 percent to 284.59 at the 4:30 p.m. close in London, even as four stocks fell for every three that rose. Equities climbed yesterday, sending the Stoxx 600 up the most since Dec. 2, after reports showed manufacturing expanded in the U.S. and China. The benchmark gauge dropped 1 percent over the previous two days as anti- government protests rocked Egypt, causing airline and travel companies to fall.
Today’s earnings reports are “in-line with expectations or slightly negative,” said Ricciardo Ricciardelli, a fund manager at Unifortune Asset Management SGR SpA in London. “Investors wait for confirmation of the recovery of the U.S. labor market. Conviction was still low in January and the market’s rally surprised the majority of managers.”
Most U.S. stocks fell, with the Standard & Poor’s 500 Index dropping from near its highest valuation since June, as earnings reports from companies including Broadcom Corp. and Aflac Inc. disappointed investors and anti-government protests in Egypt worsened.
Broadcom slumped 5.6 percent after the biggest maker of chips for television set-top boxes reported margins that missed analysts’ estimates. Aflac, the world’s largest seller of supplemental health insurance, dropped 2.4 percent as operating income trailed forecasts. Electronic Arts Inc., the second- biggest U.S. video-game maker, jumped 16 percent and Time Warner Inc. rose 8.6 percent as profits beat projections.
About seven stocks declined for every five that advanced on U.S. exchanges. The S&P 500 retreated 0.3 percent to 1,304.03 at 4 p.m. in New York after yesterday reaching a level that was 15.7 times its companies’ reported operating income. The Dow Jones Industrial Average increased 1.81 points, or less than 0.1 percent, to 12,041.97.

08:32
Tech on USD/JPY

Resistance 3:Y83,00 (resistance line from Jan 7)
Resistance 2:Y82,10 (МА (200) for Н1)
Resistance 1:Y81,90 (session high)
Current price: Y81.64
Support 1:Y81.30 (Feb 1 low)
Support 2:Y80.90 (Dec 31 - Jan 3 low)
Support 3:Y80.20 (Nov 1 low)
Comments: the pair become stronger. The nearest resistance - Y81,90. Above growth is possible to Y82.10. The nearest support - Y81,30. Below losses are possible to Y80.90. 

08:30
Tech on USD/CHF

Resistance 3: Chf0.9520 (Jan 25 high)
Resistance 2: Chf0.9480 (Jan 27 high)
Resistance 1: Chf0.9440 (МА (200) for Н1)
Current price: Chf0.9404
Support 1: Chf0.9330 (Feb 2 low)
Support 2: Chf0.9300 (Dec 31 low)
Support 3: Chf0.9200 (psychological mark)
Comments: the pair bargains in the field of Chf0.9400. The nearest support Chf0,9370. Below loss may extend to Chf0.9300. The nearest resistance Chf0,9450. Above is located Chf0.9480. 

08:15
Tech on GBP/USD

Resistance 3: $ 1.6450 (Jan 19, 2010 high)
Resistance 2: $ 1.6300 (Nov 4 high)
Resistance 1: $ 1.6230 (Feb 2 high)
Current price: $1.6186
Support 1 : $1.6175 (session low, support line  from Feb 1)
Support 2 : $1.6125 (Feb 2 low)
Support 3 : $1.6010 (Feb 1 low)
Comments: the pair bargains slightly below a mark $1.6200. The nearest resistance - $1,6230. Above growth is possible to $1,6300. The nearest support - $1,6175. Below decrease is  possible to $1.6125.

08:12
Tech on EUR/USD

Resistance 3: $ 1.4030 (resistance line from Dec 2, 2009)
Resistance 2: $ 1.3970 (Nov 9 high)
Resistance 1: $ 1.3860 (Feb 2 high)
Current price: $1.3793
Support 1 : $1.3760 (Feb 2 low)
Resistance 2: $ 1.3700 (МА (200) for Н1,  support line from Jan 18)
Resistance 3: $ 1.3570 (Jan 31 low)
Comments: the pair bargains in the field of $1.3800. The nearest support - $1,3760. Below decrease is possible to $1.3700. The nearest resistance - $1,3860. Above  growth is possible to $1,3970. 

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