Daily Market Outlook from ACFX 17/1/2013

[Atlas CapitalFx]

Daily Market Outlook

Posted by on January 17, 2013

Important Financial Indicators of the day Forecast Previous
USD 15:30 (GMT) Building Permits 0.91M 0.90M
USD 15:30 (GMT) Unemployement Claims 369K 371K
USD 17:00 (GMT) Philly Fed Manufacturing Index 7.1 8.1
NZD 23:45 (GMT) CPI q/q 0.1% 0.3%
Currencies

AUD/USD Australia’s dollar slid versus all of its 16 major counterparts after a report today showed employers in the country unexpectedly cut payrolls last month, adding to concern the domestic economy is slowing.
Australia’s dollar lost 0.6 percent to $1.0507 at 2:53 p.m. in Sydney. It dropped 0.7 percent to 92.80 yen, extending its 1.2 percent decline in the previous two days. New Zealand’s currency slid 0.2 percent to 83.90 U.S. cents after rising 0.2 percent yesterday. It weakened 0.3 percent to 74.09 yen

USD/JPY The yen fell, snapping a two-day gain, as investors weighed the likelihood of new monetary easing measures by the Bank of Japan (8301) next week.
The yen slid 0.4 percent to 88.74 per dollar at 3:09 p.m. in Tokyo, after gaining 1.2 percent over the previous two days. It sank to 89.67 on Jan. 14, the lowest since June 2010. It fell 0.5 percent to 117.96 per euro. The euro was little changed at $1.3295.

USD/CAD The Canadian dollar fell against most of its major peers as government officials in Russia and Japan criticized monetary policies that have devalued major currencies in an attempt to spark economic growth.
The Canadian dollar, known as the loonie for the image of the waterfowl on the C$1 coin, declined 0.2 percent to 98.59 cents per U.S. dollar at 5:05 p.m. in Toronto. One loonie buys $1.0143

Commodities

Oil fell in New York as investors
speculated a rally to the highest level in four months was
exaggerated amid concern the global economic recovery may
falter, curbing fuel demand
Crude for February delivery declined as much as 44 cents to
$93.80 a barrel in electronic trading on the New York Mercantile
Exchange and was at $93.83 at 1:12 p.m. Singapore time. The
contract climbed 96 cents to $94.24 yesterday, the most since
Jan. 2. It was the highest close since Sept. 18.
Brent oil for March settlement on the London-based ICE
Futures Europe exchange decreased as much as 23 cents to $109.45
a barrel. The European benchmark crude was at a premium of
$15.27 to New York-traded West Texas Intermediate for the same
month. The spread ended yesterday’s session at $16.37, the
narrowest since Sept. 19.

Gold traded little changed near a
two-week high as investors weighed concern about slowing global
economic growth and expectations for more stimulus. Palladium
was near the highest level since September 2011.

Spot gold was at $1,680.05 an ounce at 10:29 a.m. in Singapore from $1,679.95 yesterday. The metal reached $1,685.25 on Jan. 15, the most expensive since Jan. 3, as U.S. lawmakers wrangled over increasing the $16.4 trillion debt ceiling. Since 1960, Congress has raised or revised the debt limit 79 times, including 49 times under Republican presidents, according to the Treasury Department.

Equities

Asian stocks declined, with the regional benchmark index poised to fall a second day, after touching a 17-month high this week. The Nikkei 225 (NKY) Stock Average headed for its biggest two-day drop since November 2011 after the yen reversed its losses.
The MSCI Asia Pacific Index dropped 0.5 percent to 130.84
as of 1:42 p.m. Tokyo time, erasing gains of as much as 0.6
percent. The gauge rallied 9.8 percent from Nov. 14 through
yesterday as Japanese shares surged on speculation Prime
Minister Shinzo Abe will pursue more aggressive stimulus
policies and reports showed recovery in the U.S. and China.

European stocks were little changed,
erasing an earlier retreat for the region’s benchmark Stoxx
Europe 600 Index, as U.S. industrial production climbed and
Goldman Sachs Group Inc.’s earnings topped estimates.

The Stoxx 600 rose less than 0.1 percent to 286.03 at the
close of trading, after earlier falling as much as 0.4 percent.
The gauge has advanced 2.3 percent since the start of the year
after U.S. lawmakers agreed on a budget, avoiding tax increases
and spending cuts

U.S stocks fell, following yesterday’s gain, as a cut in the World Bank’s growth forecasts offset a rally in Apple Inc. as investors watched earnings.
.
Three stocks retreated for every two rising on U.S. exchanges at 4 p.m. New York time. The Standard & Poor’s 500 Index advanced less than 0.1 percent to 1,472.63. The Dow Jones Industrial Average declined 23.66 points, or 0.2 percent, to 13,511.23. About 5.6 billion shares changed hands on U.S. exchanges, or 8.6 percent below the three-month average.