Daily Market Outlook from ACFX 08/13/2013
Posted: Tue Aug 13, 2013 6:36 amImportant Financial Indicators of the day
GBP - 11:30 (GMT) - CPI y/y - Forecast 2.8% - Previous 2.9%
EUR - 12:00 (GMT) - German ZEW Economic Sentiment - Forecast 40.3 - Previous 36.3
USD - 15:30 (GMT) - Core Retail Sales m/m - Forecast 0.4% - Previous 0.0%
USD - 15:30 (GMT) - Retail Sales m/m - Forecast 0.2% - Previous 0.4%
Currencies
◾EUR/USD The dollar touched the highest in
almost a week versus the yen before a report today that may show
U.S. retail sales climbed for a fourth month.
◾The dollar rose 0.4 percent to 97.30 yen as of 1 p.m. in
Tokyo after earlier touching 97.44, the strongest since Aug. 7.
It fetched $1.3310 per euro, down 0.1 percent from yesterday.
Japan’s currency slid 0.5 percent to 129.49 per euro.
◾AUD/USD Australia’s dollar fell for a second
day before U.S. data that may show retail sales climbed, adding
to the case for the Federal Reserve to taper monetary stimulus
that tends to weaken the greenback.
◾Australia’s currency lost 0.4 percent to 91.14 U.S. cents
as of 10:07 a.m. in Sydney from yesterday. The kiwi dollar
dropped 0.5 percent to 79.76 U.S. cents. It posted a 2.6 percent
weekly gain on Aug. 9, the most since December 2011
◾USD/CAD Canada’s dollar declined for the
first time in three days after it failed to breach a key
technical level, a move that might have signaled gains beyond a
one-week high it reached last week, spurring speculation the
currency’s run of strength is at an end.
◾Canada’s currency depreciated 0.2 percent to C$1.0307 per
U.S. dollar at 5 p.m. in Toronto after gaining earlier to
C$1.0281. Its 100-day moving average is C$1.0279. It touched
C$1.0276 on Aug. 9, the strongest level since Aug. 1. One
Canadian dollar buys 97.02 U.S. cents.
Commodities
◾Oil West Texas Intermediate crude traded
near the highest price in five days amid speculation that U.S.
stockpiles fell for the sixth time in seven weeks as summer
driving buoyed demand.
◾WTI for September delivery was at $106.18 a barrel in
electronic trading on the New York Mercantile Exchange, up 7
cents at 12:20 p.m. Singapore time. The volume of all futures
traded was 34 percent below the 100-day average. Prices have
climbed 16 percent this year.
◾Brent for September settlement gained 2 cents to $108.99 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $2.83 to WTI, from $2.86 yesterday.
◾Gold snapped a four-day advance as a
rally to the highest level in almost three weeks damped demand
and prompted some investors to sell. Silver declined.
◾Spot gold fell as much as 0.6 percent to $1,330.35 an ounce
and was at $1,336.55 at 11:57 a.m. in Singapore. Bullion climbed
4.3 percent in the four days through yesterday, when it touched
$1,344.40, the highest price since July 24.
Equities
◾Asian stocksrose for a fourth day, with Japanese shares gaining after the yen weakened as a report showed machinery orders beat estimates and amid a report Prime Minister Shinzo Abe is considering a corporate-tax cut.
◾The MSCI Asia Pacific Index added 0.5 percent to 134.81 as of 11:39 a.m. in Hong Kong, with about three shares rising for each that fell. Nine of the 10 industry groups increased on the gauge, which is headed for its longest winning streak in six weeks.
◾European stocks closed little
changed at a 10-week high as a rally in mining companies offset
slower-than-forecast economic growth in Japan.
◾The Stoxx Europe 600 Index increased less than 0.1 percent to 306.08 at the close of trading, having earlier risen as much as 0.2 percent ad declined 0.6 percent. The benchmark gauge added 0.6 percent last week as better-than-forecast economic data in Europe and China outweighed concern that the Federal Reserve will reduce the pace of its bond-purchase program. The measure has rallied 9.4 percent .
◾U.S stocks fell, giving the Standard & Poor’s 500 Index to its fifth drop in
six sessions, as data showed a slowdown in Japan’s economic growth and
investors awaited tomorrow’s report on America’s retail sales.
◾The S&P 500 fell 0.1 percent to 1,689.47 at 4 p.m. in New York, extending its loss from a record high to 1.2 percent. The Dow Jones Industrial Average declined 5.83 points, or less than 0.1 percent, to 15,419.68. About 5 billion shares changed hands on U.S. exchanges, 20 percent below the three-month average.
GBP - 11:30 (GMT) - CPI y/y - Forecast 2.8% - Previous 2.9%
EUR - 12:00 (GMT) - German ZEW Economic Sentiment - Forecast 40.3 - Previous 36.3
USD - 15:30 (GMT) - Core Retail Sales m/m - Forecast 0.4% - Previous 0.0%
USD - 15:30 (GMT) - Retail Sales m/m - Forecast 0.2% - Previous 0.4%
Currencies
◾EUR/USD The dollar touched the highest in
almost a week versus the yen before a report today that may show
U.S. retail sales climbed for a fourth month.
◾The dollar rose 0.4 percent to 97.30 yen as of 1 p.m. in
Tokyo after earlier touching 97.44, the strongest since Aug. 7.
It fetched $1.3310 per euro, down 0.1 percent from yesterday.
Japan’s currency slid 0.5 percent to 129.49 per euro.
◾AUD/USD Australia’s dollar fell for a second
day before U.S. data that may show retail sales climbed, adding
to the case for the Federal Reserve to taper monetary stimulus
that tends to weaken the greenback.
◾Australia’s currency lost 0.4 percent to 91.14 U.S. cents
as of 10:07 a.m. in Sydney from yesterday. The kiwi dollar
dropped 0.5 percent to 79.76 U.S. cents. It posted a 2.6 percent
weekly gain on Aug. 9, the most since December 2011
◾USD/CAD Canada’s dollar declined for the
first time in three days after it failed to breach a key
technical level, a move that might have signaled gains beyond a
one-week high it reached last week, spurring speculation the
currency’s run of strength is at an end.
◾Canada’s currency depreciated 0.2 percent to C$1.0307 per
U.S. dollar at 5 p.m. in Toronto after gaining earlier to
C$1.0281. Its 100-day moving average is C$1.0279. It touched
C$1.0276 on Aug. 9, the strongest level since Aug. 1. One
Canadian dollar buys 97.02 U.S. cents.
Commodities
◾Oil West Texas Intermediate crude traded
near the highest price in five days amid speculation that U.S.
stockpiles fell for the sixth time in seven weeks as summer
driving buoyed demand.
◾WTI for September delivery was at $106.18 a barrel in
electronic trading on the New York Mercantile Exchange, up 7
cents at 12:20 p.m. Singapore time. The volume of all futures
traded was 34 percent below the 100-day average. Prices have
climbed 16 percent this year.
◾Brent for September settlement gained 2 cents to $108.99 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $2.83 to WTI, from $2.86 yesterday.
◾Gold snapped a four-day advance as a
rally to the highest level in almost three weeks damped demand
and prompted some investors to sell. Silver declined.
◾Spot gold fell as much as 0.6 percent to $1,330.35 an ounce
and was at $1,336.55 at 11:57 a.m. in Singapore. Bullion climbed
4.3 percent in the four days through yesterday, when it touched
$1,344.40, the highest price since July 24.
Equities
◾Asian stocksrose for a fourth day, with Japanese shares gaining after the yen weakened as a report showed machinery orders beat estimates and amid a report Prime Minister Shinzo Abe is considering a corporate-tax cut.
◾The MSCI Asia Pacific Index added 0.5 percent to 134.81 as of 11:39 a.m. in Hong Kong, with about three shares rising for each that fell. Nine of the 10 industry groups increased on the gauge, which is headed for its longest winning streak in six weeks.
◾European stocks closed little
changed at a 10-week high as a rally in mining companies offset
slower-than-forecast economic growth in Japan.
◾The Stoxx Europe 600 Index increased less than 0.1 percent to 306.08 at the close of trading, having earlier risen as much as 0.2 percent ad declined 0.6 percent. The benchmark gauge added 0.6 percent last week as better-than-forecast economic data in Europe and China outweighed concern that the Federal Reserve will reduce the pace of its bond-purchase program. The measure has rallied 9.4 percent .
◾U.S stocks fell, giving the Standard & Poor’s 500 Index to its fifth drop in
six sessions, as data showed a slowdown in Japan’s economic growth and
investors awaited tomorrow’s report on America’s retail sales.
◾The S&P 500 fell 0.1 percent to 1,689.47 at 4 p.m. in New York, extending its loss from a record high to 1.2 percent. The Dow Jones Industrial Average declined 5.83 points, or less than 0.1 percent, to 15,419.68. About 5 billion shares changed hands on U.S. exchanges, 20 percent below the three-month average.