Other Markets
US Stocks Fell
U.S. stocks fell to session lows Monday afternoon after signs that European financial ministers had failed to agree on new efforts to bolster the continent’s bailout efforts, adding to traders’ malaise over financial stocks earlier in the session. The Dow Jones Industrial Average shed 100 points, or 0.9%, to 11765 in late-afternoon trading on Monday, […]
What matters today (Asia edition)
Developed macro 1. It increasingly looks as though it will be sour end to the year for markets, with hopes of a year end rally fading fast. 2. German Chancellor Merkel to address parliament today. 3. We expect the Norges Bank to remain on hold, but the market is looking for a rate cut.
What matters today (Asia edition)
Developed macro 1. Solid French and Spanish bond auctions as well as the strong US ISM Manufacturing PMI failed to uphold Optimism 2. Today focuses will be on Merkel’s speech (see below) and the US non-farm payrolls.
What matters today (Asia edition)
Developed macro 1. Today’s ECB’s SMP amount gathers more importance than usual. 2. Datawise, the focus this week will be on Eurozone PMI indices (Wednesday) and on the German IFO (Thursday).
What matters today (Asia edition)
Developed macro 1. French government announced additional austerity measures aimed at bringing EUR17.4Bn in the period until 2016, from which EUR7Bn as soon as in 2012. 2. Italian government faces an important technical vote on 2010 Budget today.
What matters today (Asia edition)
Developed macro 1. Eurozone politics continue to dominate. The new coalition government will buy Greece more time, but political risks are still running high. 2. The other focal point is Italy where the shaky government faces bond issuance and a new vote on the 2010 budget this week – according to most observers, it may […]
Technical Analysis: Technical Focus – Industrial metals weekly
Copper – last week caught on the wrong footing Nickel – ready to exit the next bear flag Alu – correction is over and done!
HSBC: Currencies: Technical Analysis: Copper collapse to continue
Copper should hit new lows in coming weeks. The wave down from the summer high is not yet complete and this barometer of economic strength is signalling continued pressure on “risk”. Gold is about to break much lower from its completed double top pattern but Crude Oil is holding on to some bullish potential.
What matters today (Asia edition)
Developed macro 1. Markets appear to have prepared for the under-delivery of the EU summit 2. US: Q3 real GDP likely rose 2.5% supported by robust business investment, an increase in consumer spending and improved net exports. 3. There has been a rising expectation that the Bank of Japan will ease.
What matters today (Asia edition)
Developed macro 1. All eyes remain on Europe as the EU Summit on Wednesday will be eyed for a concrete resolution to the region’s crisis 2. Eurozone ‘flash’ PMIs to deteriorate further in October, with the services sector set to underperform
Russia flows and eod
Despite expected quiet day and thin market, we got the latter but definitely not the former. RUB rallies 2% vs USD and 1% vs fx basket (backed by strong EUR) and rates enjoy further rally of 10-20 bps.
HSBC MacroBullets – Friday
TOP UK business daily City AM says UK banks set for an up to three-notch downgrade by Moody’s. The downgrade, expected as early as today, will impact 14 banks and building societies, the paper says. City AM said Moody’s refused to confirm the move. {http://bit.ly/nstonV}