Usa Banks List

The Pound is given a tribute

Us banks list / Thursday, August 19, 2010

After a good macro data in the United Kingdom
The most important thing we see in early afternoon trading on the forex market is that the main crossings of the book have been turned macro after some excellent figures in the UK. Of note, retail sales have been beaten by far the best forecasts. The euro has also risen in sympathy but remains near the first support against the dollar.

However, we see that the FOREX market is 'rare', highly volatile and nervous. Quotations macro afternoon in the U.S. may be decisive to shed some light. The crosses of 'carry trades' are mixed, the Aussie gained ground against the dollar and the Yen, but the Kiwi and Loonie are negative.

European shares gain 0.50% on average as U.S. stock futures. The news of the day and possibly the week is that General Motors, the Detroit engine giant plans to go public again at the end of the year in what could be the second largest stock exchange release in the history of the United States. General Motors had to be rescued by the U.S. government to avoid bankruptcy.

As for raw materials, we see that the winning positions but oil remains in the middle of the range of $ 70-80. At present, the future of the Brent October 2010 goes up to $ 76.94 from $ 75.58 the previous close and the future of West Texas in September, goes up to $ 75.83 from $ 73.99 the previous close .

The ounce of gold returns driven by increases risk aversion benefits as a refuge value lae. His recent fall took him from a fresh multi-year in the $ 1,265.30 up to $ 1,157.05, but it was necessary to purge excessive overbought level that had accumulated.

The ounce of silver keeps the range from support of $ 18.370 and $ 18.620 resistance.

As sovereign fixed income, today we see movement in the reference assets, especially on long runs of the curve. Lower the price and raises the IRR of the Bund and 10-year U.S. Treasury.

The return on the ten-year U.S. Treasury is going to 2.664% 2.594% following the close of the previous session. The U.S. bond three years goes to the 0.503% 0.503% following the close of the previous session.

In Europe, the ten-year German Bund goes to the 2.364% 2.343% following the close of the previous session. For its part, the three-year bond goes to the 0.728% 0.701% following the close of the previous session.

The Spanish 10-year bond stood at 4.065% and differential against German Bund rises to 170.1 basis points, compared to 165.5 the previous close. The increase in public spending for infrastructure in Spain worth 500 million announced yesterday by the Government can explain this increase in 'spread'.

The return on the benchmark 10-year rise in Japan for the first time in seven days by speculation that the BoJ may increase its efforts to weaken the yen and keep interest rates low. Japan's Sankei newspaper said the Bank of Japan injected more money into the financial system, without citing sources.

Main foreign exchange market crosses:

The Euro-Dollar holds the rank between the support of 1.2734 and 1.2932 resistance. Yes, this morning is near the support.

The Euro-Yen lateral moves between the support of 109.07 and 111.11 resistance.

The Euro-Swiss franc goes to a session low at 1.3303. Careful not to lose the support of 1.3300 as it could go by the recent low of 1.3285.

The Euro-Libra gives positions and goes to a session low at 0.8194. Below, his next supports are at 0.8185 and at 0.8175.

The cable maintains the range from support of 1.5498 and 1.5703 resistance. After the UK data today we reiterate our view that the increases should go back to 1.60.

The Dollar-Yen has recovered positions and away from the minimum of the last 15 years that marked last week in 84.730.

Today, the agenda comes with macro economic data relevant to Asia-Pacific, Europe and the USA.

In New Zealand, August consumer confidence picked up to 116.3 points from the previous month's figure of 115.6.

In Japan, the rate of the entire industry in June went to a reading of 0.1% per month from a previous figure was revised downward to 0.1% from 0.2%. The forecast was -0.3%.

In addition, orders for machinery were the end of July to a final figure of a 144.9% annual rate from the preliminary data of 144.9%. Certainly spectacular although the data of Japan's industrial production are slowing over recent months.

Malaysia achieved the highest quarterly growth rate in the last decade with a GDP growth of 8.9% annual rate during the second quarter when he expected a 8.4% figure. This could cause the Central Bank will soon raise rates.

In Germany, producer prices in July were higher than expected at 0.5% monthly and 3.7% per year expected to go up to 0.1% and 3.3% from the data previous month's 0.6% and 1.7% respectively. Inflationary pressures on the supply side must be taken into account by the ECB.

In Switzerland, the July trade balance reached a surplus of 2,890 million francs from the previous figure of 1.770 million and an estimated 1,820 million. Exports grew at a monthly rate of 1.9% from -5.5% and U.S. imports were from a -4.0% -10.2%.

In the UK, we had a flood of relevant indicators. Among them we highlight the July retail sales that went to a reading of 1.1% monthly and 1.3% per year from an estimated 0.3% and 0.6% respectively. Retail sales excluding autos and gasoline in July reached 0.9% monthly and 2.4% per year when the forecast was 0.2% and 1.8%.

The borrowing of the British rule in July reached 3,200 million pounds compared with previous data was revised downwards to 13 900 million from 14,500 million preliminary. The estimates pointed to a reading of 4.800 million pounds.

The monetary aggregate M4 July in the United Kingdom was up 0.4% monthly and 2.3% per annum from the previous figure of 0.1% and 3.1%. The monetary pillar remains under control something that can not be said from the side of costs.

From the United States know the requests weekly unemployment (14:30 Spanish time), the manufacturing index of the August Philadelphia Fed index and leading indicators for July (16:00 Spanish time).

In relation to the central banks:

James Bullard, president of the St. Louis Fed, said the Federal Reserve could buy more over Treasuries if inflation continues to fall. There have been "disinflation," Bullard said the Wall Street Journal. "We should have a plan of action prepared if inflation moves lower."

Today, the European Central Bank holds its regular monetary meeting is not often that not transcend anything.

The Bundesbank has revised upwards its growth forecast for the German economy in 2010 to 3% from its previous forecast of 1.9%. Official data for the second quarter released last week showed that the Teutonic GDP increased by 2.2%, the largest quarterly increase in 20 years. The 'Buba', also known as the German Central Bank says that the risk of a relapse into recession in the United States is 'low'.

We also have an announced attendance of Charles Evans, president of the Chicago Fed (19:00 Spanish time).

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