Daily Market Outlook from ACFX 09/03/2013

[Atlas CapitalFx]

Daily Market Outlook from ACFX 09/03/2013


Important Financial Indicators of the day

GBP - 11:30 (GMT) - Construction PMI - Forecast 58.4 - Previous 57.0
USD - 17:00 (GMT) - ISM Manufacturing PMI - Forecast 54.2 - Previous 55.4


Currencies

◾USD/JPY The yen touched a one-month low as signs of economic
improvement across the globe damped demand for refuge assets while data
from Japan signaled progress in the central bank’s easing efforts.

◾The yen slid 0.1 percent to 99.45 per dollar as of 6:08 a.m. in London after
touching 99.70, the weakest since Aug. 2. It bought 131.16 per euro from
131.04 yesterday, when it dropped 1 percent. The dollar fetched $1.3193
per euro from $1.3192.

◾AUD/USD The yen slid 0.1 percent to 99.45 per dollar as of 6:08 a.m.
in London after touching 99.70, the weakest since Aug. 2. It bought 131.16
per euro Foreign ownership of Australian government securities rose last quarter
from a three-year low, even as the nation’s currency plunged by the most in almost
five years. rom 131.04 yesterday, when it dropped 1 percent.
The dollar fetched $1.3193 per euro from $1.3192.

◾The Australian dollar plunged 12 percent in the three
months through June, the most since the third quarter of 2008,
while the country’s government debt lost 0.1 percent, according
to Bank of America Merrill Lynch index data. U.S. Treasuries
declined 2.2 percent in the period.



Commodities

◾Oil Brent crude swung between gains and losses after rising for the first
time in three days as U.S. lawmakers urged backing for military action against Syria,
fanning concern that possible strikes may disrupt Middle East oil exports.

◾Brent for October settlement was at $114.18 a barrel on the
ICE Futures Europe exchange, down 15 cents, at 12:25 p.m.
Singapore time. The contract gained 32 cents to $114.33
yesterday. The European benchmark crude was at a premium of
$7.59 to New York-traded West Texas Intermediate futures.

◾Gold traded little changed after
dropping for three days to a one-week low as investors assessed
prospects for reduced stimulus in the U.S. as the world’s
largest economy recovers.

◾Spot gold traded at $1,392.78 an ounce at 9:31 a.m. in Singapore after
touching $1,373.38 yesterday, the lowest since Aug. 23. Prices fell from a three-month
high of $1,433.83 on Aug. 28 on signs that a U.S. strike against Syria will be delayed
and as improving economic data fueled speculation that the Federal Reserve will trim
its $85 billion in monthly bond purchases.



Equities

◾Asian stocks rose for a fourth day,
with the regional benchmark gauge climbing the most in a month,
as Japanese shares were boosted by the yen weakening against the
dollar and amid optimism the global economy is recovering.

◾The MSCI Asia Pacific Index gained 1.4 percent to 132.79 as
of 12:46 p.m. in Hong Kong, on course for the highest closing
level since Aug. 2, as all 10 industry groups on the gauge
advanced. More than three shares rose for each that fell.
Futures on the Standard & Poor’s 500 Index rose 1 percent from
Aug. 30, with U.S. markets due to reopen after a holiday

◾European stocks dvanced the most in
eight weeks as a gauge of Chinese manufacturing activity
exceeded economists’ estimates. U.S. index futures also rose.

◾The Stoxx Europe 600 Index added 1.9 percent to 302.94 at the close of trading,
its biggest gain since July 4. The equity benchmark fell 2.4 percent last week
to its lowest level since July 17 amid concern that the U.S. and its allies will take
military action against Syria. Standard & Poor’s 500 Index futures climbed 1 percent today.
U.S. markets are closed for the Labor Day holiday.