|
|
| 02.10 19:52 |
Dow -311.19 at 10519.88, Nasdaq -79.92 at 1989.48, S&P -40.22 at 1120.84
Losses remain steep as the session progresses. Stocks remain
hamstringed by uncertainty whether the House of Representatives will
approva of a plan to purchase distresed assets from financial
institutions.
Speaker of the House of Representatives Nancy Pelosi stated she would
not bring the Senate's recently passed bill to the floor if there were
not enough votes for passage.
The Nasdaq has taken out a fresh session low. The S&P 500 and the Dow are testing earlier lows.
|
| 02.10 19:23 |
US House Speaker Pelosi said is optimiistic that will take up the rescue bill and that it will pass. |
| 02.10 19:05 |
American focus:
The euro fell to a 13-month low against the dollar and the weakest in
two years versus the yen after European Central Bank President
Jean-Claude Trichet said policy makers discussed cutting interest rates
as economic growth slows.
The European single currency dropped for the fourth day against the
dollar as Trichet said recent data suggests ``increased downside
risks'' to growth. The ECB kept its main rate at 4.25 percent today, a
seven-year high. The decision was predicted by all 58 economists
surveyed by Bloomberg.
``The euro is under pressure across the board,'' said Marcus Hettinger,
a Zurich-based currency strategist for Credit Suisse Group. ``The next
move in rates will be down. It's more a question of time.''
The euro has slid 5.6 percent this week, the biggest four-day drop since the currency's debut in 1999.
``The economic outlook is subject to increasing downside risks,''
mainly ``stemming from ongoing financial-market tensions,'' Trichet
said at a Frankfurt press conference following the decision. ``Upside
risks to price stability have diminished, but they have not
disappeared.''
Euro-region inflation was 3.6 percent last month, down from a 16-year
high of 4 percent in July. The ECB's inflation target is below 2
percent.
``Trichet has downplayed the upside inflation risks for the first time
in a long time,'' Dustin Reid, a senior currency strategist at ABN Amro
Holding NV in Chicago, wrote in an e-mailed report. The fact the ECB
discussed a rate-cut option today ``may give this move some further
legs,'' he said, adding the euro may trade as low as $1.3600 in the
coming week.
The dollar rose against 15 of the 16 most frequently traded currencies
as demand for dollar funding increased amid the seizure in the money
markets. The dollar also advanced after the Senate approved a $700
billion bank-rescue bill, bolstering expectations the U.S. will act
faster than Europe to address the credit squeeze.
``Looking at the euro against the dollar, it's like matching one dog
against another dog. Who's got the most fleas?'' said Alan Ruskin, head
of international currency strategy at RBS Greenwich Capital Markets in
Greenwich, Connecticut. ``Dollar fundamentals don't seem to matter.
It's extremely hard to fight this move into the dollar.''
|
| 02.10 18:43 |
Dow -275.66 at 10555.41, Nasdaq -70.09 at 1999.31, S&P -35.65 at 1125.41
Stocks have moved back to earlier lows. The Nasdaq and the S&P 500
are posting declines in excess of 3%. The Dow is down substantially,
but not as much on a percentage basis.
Weakness in the Nasdaq is primarily due to large-cap tech names. The
session's primary laggards include Apple (AAPL 103.21, -5.91) and
Microsoft (MSFT 26.08, -0.40). Google (GOOG 394.29, -17.43) is also
underperforming, trading at its lowest point since 2006.
|
| 02.10 18:18 |
Major banks changed their ECB rate call
Joining Citigroup and JPMorgan economists are also Royal Bank of
Scotland, Barclays Capital and BNP Paribas, who have also changed their
ECB rate call. RBS & BarCap are now going for a November rate cut
vs December previous, whilst BNP look for a rate cut in Q4 2008 vs
pervious forecast of a cut in Q1 2009.
|
| 02.10 17:56 |
Dow -254.72 at 10576.35, Nasdaq -58.75 at 2010.65, S&P -31.32 at 1129.74 |
| 02.10 17:28 |
ECB's Trichet says seeing significant market correction and volatility, unprecedented events.
Declines to ompare current crisis to 1929. Some recent events were
unforeseeable. Says seeing more downside risks to growth, says falling
oil prices
favorable to GDP. Sees no large imbalances in euro area and says euro
area not in the same position as the US.
|
| 02.10 17:20 |
Dow -218.00 at 10613.07, Nasdaq -52.08 at 2017.32, S&P -27.81 at 1133.25 |
| 02.10 16:54 |
Mizuho on US data
Economist Steven Ricchiuto at Mizuho says
"The details of the latest factory orders report came in decidedly
weak" and the 4% drop was broad based. He now ests Q3 GDP growth will
be negative.
|
| 02.10 16:14 |
Dow -234.56 at 10596.51, Nasdaq -56.15 at 2013.25, S&P -29.79 at 1131.27
Stocks continue to trade with hefty losses. Only the telecom (+0.3) sector is trading with a gain.
Integrated telecom (+0.8%) players are helping the sector as all seven
of the industry group members are trading higher. AT&T (T 28.32,
+0.23) is a notable leader, as is Verizon (VZ 31.42, +0.01). Though
the sector is showing relative strength this session, it may not be
insulated from broader market troubles. Just yesterday AT&T's
chief executive stated the tight credit environment is crimping the
company. He said that his company recently was unable to sell any
commercial paper with a longer term than overnight.
|
| 02.10 15:59 |
International Monetary Fund warned that the United States likely will face a sharp economic downturn and the world may also suffer from a surprise spike in inflation. |
| 02.10 15:49 |
Dow -223.73 at 10607.34, Nasdaq -53.30 at 2016.10, S&P -28.69 at 1132.37
Losses remain deep among the major indices. The Nasdaq has taken out a
new session low, while the Dow and S&P 500 are imposing on earlier
low points.
Oil futures have fallen to their lowest point of the morning. Crude is
down 3.6% in early trading, bringing the commodity to nearly $95 per
barrel. Oil remains under pressure as persistent fears of a global
slowdown are undercutting prices as traders anticipate demand
destruction.
Former Fed Chairman Greenspan said that current conditions represent a
rare, wrenching financial crisis, according to Dow Jones. Greenspan
stated that economic revival will set in when investors enter back into
the marketplace, which he suspects will be sooner rather than later.
|
| 02.10 15:31 |
Cable under pressure again
Reported offers placed toward $1.7620 able to cap recovery off post
Trichet comment lows of $1.7558, with rate currently rtesting back on
tech support at $1.7575/70. A break here to open a retest of earlier
lows, with noted between $1.7560/50. A break to then open a deeper move
toward $1.7525/20.
|
| 02.10 15:01 |
US: Aug factory new orders -4.0% |
| 02.10 14:57 |
Dow -151.97 at 10679.10, Nasdaq -25.14 at 2044.26, S&P -18.74 at 1142.32
The major indices have opened with losses and continue to trend lower.
The decline is broad based with eight of the ten sectors showing
declines.
Losses are most pronounced among industrial companies (-5.4%). Their
decline is largely due to General Electric (GE 22.29, -2.21), which is
pricing a capital raise at a substantial discount to yesterday's
closing price. Early indications suggest the pricing will come in at
$22.25 per share.
Health care is showing some relative strength (+0.3%). Eli Lilly (LLY
43.81) was named by The Wall Street Journal as the secret bidder behind
an offer to acquire ImClone (IMCL 65.12, -0.23) for $70 per share.
|
| 02.10 14:36 |
Before the bell: Stocks set to open lower[M]
Just minutes remain before the opening bell
sounds and stocks are looking to open in downward fashion: S&P
futures vs fair value: -10.30. Nasdaq futures vs fair value: -14.50.
The general tone throughout premarket trading has been pessimistic.
|
| 02.10 13:52 |
ECB TRICHET: Weakening of EMU growth 'very visible'
- Free to do any time what we must do to fulfill mandate
- What we will do will depend on the evolution of the situation.
|
| 02.10 13:46 |
ECB TRICHET: Still strong underlying monetary expansion
- Strong underlying money expansion an upside inflation risk
|
| 02.10 13:42 |
ECB TRICHET: Level of inflation is worrying
- High inflation mostly from past oil/food price hikes
|
| 02.10 13:38 |
ECB TRICHET: Economic activity weakening in EMU
- Oil price fall, emerging markets may support recovery 2009 - Economic outlook subject to increased downside risks
|
| 02.10 13:36 |
ECB TRICHET: Upside inflation risks have diminshed somewhat
- We discussed extensively recent financial market turmoil - Discussed financial crisis possible impact on inflation - Recognized extraorinarily high uncertainty - Must firmly anchor inflation expectaions
|
| 02.10 13:30 |
US: Jobless claims +1,000 to 497k in Sept. 27 wk vs 475k expected |
| 02.10 13:29 |
GS :US House floor debate on rescue bill could come on Friday morning, "with a vote mid-day on Friday.
The House Rules Committee, which will
determine the rules for debate on the bill in the House, will meet at
4pm on Thursday, October 2." GS says passage is likely.
|
| 02.10 12:46 |
ECB: Leaves rates unchanged, as expected at 4.25% |
| 02.10 12:22 |
JPM: "the global economy is sliding into recession"
"The
global economy is sliding into recession" and is making downward
adjustments to growth forecasts, est growth close to zero in the coming
two quarters. They are now calling for -50bp Fed ease on Oct 29 and say
"financial stress (is) expected to linger" so a further 50bp of easing
сould come, bringing the Fed funds rate to 1% by early next year. BOE,
ECB will have to ease even more, they say.
|
| 02.10 11:32 |
USD/JPY techs:
Resistance 3: Y107.00
Resistance 2: Y106.50
Resistance 1: Y106.20
Current price: Y105.33
Support 1: Y105.30
Support 2: Y105.00
Support 3: Y104.60
Comments: The pair tests the nearest resistance on Y105,30 (area
yesterday's low, and also 38.2% FIBO of growth Y103.45-Y106.50). Below
loss of a rate can will increase up to Y105,00 (50,0%, and also Sep 26
low) and further to Y104,60 (61,8%). As the nearest
resistance level Y106,20/30 (a line of resistance since Sep 19 acts,
and also area of a session high), further is located the yesterday's
hogh on Y106,50, is above possible growth to high on Sep 25 and 29 on
Y107,00.
|
| 02.10 11:10 |
USD/CHF techs:
Resistance 3: Chf1.1420
Resistance 2: Chf1.1370
Resistance 1: Chf1.1340
Current price: Chf1.1296
Support 1: Chf1.1150
Support 2: Chf1.1065
Support 3: Chf1.0990
Comments: The pair has updated session ршпр but as a whole the tech has remained former. As the nearest resistance
acts Chf1,1340 (area of a session high),above is possible growth to
Chf1,1370 (area of Sep 8 and 9 high), and further to Chf1,1420 (Sep 11
high). The nearest support is Chf1,1150/40 (the level of 23,6 % FIBO of
growth Chf1,0690-Chf1,1300, and also a yesterday's low), further is
located Chf1,1065 (38,2 %) and Chf1,0990 (50,0 %).
|
| 02.10 10:50 |
GBP/USD techs:
Resistance 3: $1.8030
Resistance 2: $1.7875
Resistance 1: $1.7750
Current price: $1.7648
Support 1: $1.7600
Support 2: $1.7540
Support 3: $1.7440
Comments: Essential changes of tech hasn't occured. As the nearest support the area of low on $1,7600 acts,
overcoming of the given mark will open road to $1,7540 (Sep 5 and 12
low). Stronger level is $1,7440 (Sep 11 low). Intermediate resistance
is presented by a low of Tuesday on $1,7750, above there is a chance of
return to $1,7875 (yesterday's high and also 23,6 % FIBO of falling
$1,8670-$ 1,7630), and further to $1,8030 (38,2 %).
|
| 02.10 10:23 |
EUR/USD techs:
Resistance 3:$1.4150
Resistance 2: $1.4030
Resistance 1: $1.4000
Current price: $1.3910
Support 1: $1.3880
Support 2: $1.3850
Support 3: $1.3720
Comments: The pair has tested an annual low on $1,3880. Below loss of a
rate can will increase to $1,3850 $1,3850/30 (area of high of
July-August, 2007, and also low 14, 17 and 18 Sep 2007). In case of
overcoming the given mark, the rate can will decrease in area $1,3720
(Aug 31 2007 high). In case of the restoration, the nearest area of
support will act $1,4000 (Tuesday's low), further intermediate support
is located in the field of $1,4080. As stronger level acts $1,4150
(23,6 % FIBO).
|
| 02.10 10:13 |
Orders
ЕUR/JPY Offers Y147.8, Y146.90/00
USD/JPY Оffers Y107.00, Y106.54, Y106.20/25, Y105.95/00 Bids Y105.00, Y104.50, Y104.10/00, Y103.50
GBP/USD Offers $1.7750, $1.7720/30, $1.7700, $1.7685 Bids $1.7650, $1.7610/00, $1.7550/40, $1.7510/00
EUR/USD Offers $1.3940, $1.3920/25 Bids $1.3870, $1.3840, $1.3810/00
|
| 02.10 10:01 |
Е15 PPI (August) -0,5%, Y/Y 8.5% |
| 02.10 09:49 |
OPTIONS: Expiries of note for today's 1400GMT cut
EUR/USD $1.3900, $1.4235, $1.4255
USD/JPY Y105.70, Y105.45, Y106.00, Y106.05, Y104.25
GBP/USD $1.8000
|
| 02.10 09:45 |
Asian session: [M]
The dollar rose against the euro, approaching a one-year high, after
the Senate approved a $700 billion bank-rescue bill, bolstering
expectations the U.S. will act faster than Europe to address the
seizure in credit markets.
The U.S. currency also gained on increased demand for dollar funding
outside the nation, reflecting banks' reluctance to lend to each other.
The euro traded near a two-year low versus the yen on speculation
European Central Bank President Jean-Claude Trichet will say the
shortage of credit reduces the need for higher interest rates at a
meeting today.
The Senate voted 74-25 in favor of legislation that links the rescue
plan for financial companies to an increase in bank- deposit-insurance
limits and tax breaks, after the House of Representatives rejected an
earlier version of the bill. The House will likely take action on the
latest version on Oct. 3, said Brendan Daly, a spokesman for House
Speaker Nancy Pelosi.
Foreign banks are paying near the highest premiums in at least a decade
to borrow in dollars in the swaps market even after the Federal Reserve
increased funds available to other central banks this week to $620
billion.
Gains in the dollar may be limited as U.S. stock futures declined after
the Senate vote on speculation House legislators may reject the bill
for a second time when they vote tomorrow.
The euro may fall for a fourth day against the dollar before today's
meeting of the European Central Bank at which policy makers are
forecast to keep the main refinancing rate at 4.25 percent.
Traders raised bets the ECB will cut rates in coming months. The
implied yield on the Euribor futures contract expiring in March fell to
4.320 percent from 4.350 percent yesterday. Policy makers will keep the
benchmark rate unchanged today, according to all economists.
EUR/USD has tested area of an annual low then has returned to area $1,3900.
GBP/USD having established a session low on $1,7606, the pair has receded in area $1,7670.
USD/JPY having established a session high on Y106,28, the pair has fallen in area Y105,20.
At 0900GMT of Eurozone industrial PPI data for August, which is
expected to come in at -0.8% m/m, 8.5% y/y. The main event for Europe
on Wednesday is clearly the ECB
interest rate decision, which is due at 1145GMT . The rate decision
will be explained in the usual post-meeting press conference, which is
chaired by ECB President Jean-Claude Trichet from 1230GMT.
US data also starts at 1230GMT, when US jobless claims are expected to
fall 18,000 to 475,000 for the September 27 week. At 1400GMT, Factory
new orders are expected to fall 3.0% in August, as durable goods new
orders were already reported down 4.5%.
|
| 02.10 09:22 |
Stock market: Wednesday summary
Japanese stocks rose for the first time in a week as speculation
U.S. lawmakers will salvage a bank- rescue package overshadowed the
lowest confidence in five years at domestic companies.
Nomura Holdings Inc., Japan's No. 1 brokerage, added 6 percent, while
rival Shinko Securities Co. gained 5.9 percent. Kawasaki Kisen Kaisha
Ltd., the nation's third-biggest shipping company, dropped to a
four-year low after transport fees for commodities completed their
biggest quarterly decline on record. The Topix index sank to the lowest
in almost four years yesterday after the U.S. House of Representatives
rejected the bank bailout.
``Investors can expect the U.S. government to bring some sort of rescue
measure eventually,'' said Hiroshi Morikawa, a Tokyo-based senior
strategist at MU Investments Co., which manages $14 billion. ``However,
the sense of relief won't last long, as the passage of such a bill
represents the consequences of our worsening global economy.''
The Nikkei 225 Stock Average climbed 108.40, or 1 percent, to close at
11,368.26 in Tokyo. The broader Topix rose 13.72, or 1.3 percent, to
1,101.13, its first gain since Sept. 22. Almost three stocks advanced
for every two that slumped on the Topix.
The U.S. Senate will vote tonight on a revised $700 billion
financial-rescue plan. Speculation of its passing drove the Standard
& Poor's 500 Index yesterday to its biggest rally since July 2002,
regaining more than half the ground it lost following the bailout's
defeat in the House.
Confidence among large manufacturers fell to minus 3 points in
September, the first negative reading since 2003, the Bank of Japan's
quarterly Tankan survey showed today. Large and small businesses now
expect pretax profit to fall 8.1 percent this year, almost twice as
much as three months ago, the report showed.
Nomura jumped 6 percent to 1,405 yen, recovering more than half of its
two-day, 9.7 percent slump. Shinko added 5.9 percent to 305 yen,
breaking a five-day losing streak. Sumitomo Mitsui Financial Group
Inc., Japan's third-biggest listed bank, gained 4 percent to 655,000
yen, while market leader Mitsubishi UFJ Financial Group Inc. climbed
3.4 percent to 923 yen.
Brokerages, yesterday's biggest losers among Topix industry groups, were today's second-biggest winners, trailing insurers.
T&D Holdings Inc., Japan's biggest listed life insurer, soared 6.2
percent to 5,800 yen, leading gains on the Nikkei. Nipponkoa Insurance
Co. leapt 7.1 percent to 617 yen, almost reversing a 6.5 percent
decline in the previous two days.
Takeda Pharmaceutical Co., the nation's largest drugmaker, jumped 5.1
percent to 5,520 yen, leading pharmaceutical makers to the
third-biggest gain among Topix groups.
European stocks posted their first back-to-back gains in a month as
banks jumped on speculation lawmakers will pass a $700 billion rescue
plan, overshadowing a report showing U.S. manufacturing contracted more
than forecast.
Barclays Plc, the U.K.'s third-largest bank, climbed 4.4 percent and
UBS AG rose 6.7 percent as the Senate set a vote for tonight on the
bailout bill. ArcelorMittal dropped 4.8 percent after the Institute for
Supply Management said manufacturing contracted in September at the
fastest pace since the last U.S. recession. Daimler AG and Porsche SE
fell more than 8 percent on forecasts that car markets will weaken.
Stocks traded in a roller coaster fashion before settling with a
modest loss on Wednesday as investors digested uncertainty surrounding
the government's financial relief plan, a disappointing manufacturing
reading and news that Warren Buffett is making another major investment.
The S&P 500 fell as much as 2.2% at its low, and climbed to a gain
of 0.1% at its high, before settling with a loss of 0.5%. Helping the
market pare its losses was word that Warren Buffett is investing $3
billion in General Electric (GE 24.47, -1.03).
GE announced late in the afternoon that it will raise at least $12
billion in a public common stock offering and is selling $3 billion in
preferred stock yielding 10% to Warren Buffett's Berkshire Hathaway
(BRK.A 135,600, +5,000). Berkshire will also get $3 billion in
warrants, granting the option to purchase GE at $22.25 per share within
the next five years. GE's move to shore up investor confidence came
after its stock fell as much as 10% earlier in the session.
Financial market relief plan negotiations are ongoing. According to
reports, the Senate is going to vote on its version of the plan this
evening. The Senate version is said to include provisions for an
increase to the FDIC's deposit insurance limit and tax breaks for
business and alternative energy. It's unclear if the House of
Representatives supports the plan.
In economic news, manufacturing contracted by a larger-than-expected
amount in September, although it does not necessary mean the broader
economy is contracting, according to the Institute for Supply
Management's national survey. The ISM Manufacturing Index fell to 43.5
from 49.9 (consensus 49.5) -- its lowest level since October 2001. ISM
prices paid, which includes energy and food but excludes crude oil,
fell a sharper-than-expected 23.5 to 53.5 (consensus 73).
Private nonfarm employment fell by 8,000 in September, according to
employment services firm ADP. Economists expected a drop of 50,000. The
better-than-expected report had a limited impact on the market, as the
ADP data has had a spotty record compared to government data. The
government employment report, which includes both public and private
nonfarm payrolls, is set for release on Friday. A decrease of roughly
100,000 jobs is expected.
August construction spending was unchanged month-over-month, which was
better than the expected decline of 0.5%, although the market paid
little attention to this report. On average, construction spending has
declined 0.3% each month in 2008.
In commodity trading, Crude oil futures fell 2.0% to $98.61 per barrel
and gasoline fell 3.7% to $2.37 per gallon. The government's weekly
energy inventory report showed a larger-than-expected increase in crude
inventories, and an unexpected increase in gasoline stockpiles.
In the end, four of the ten economic sectors posted a gain, led by financial stocks (+2.2%).
Industrials (-2.6%) was the main laggard following the weak
manufacturing data. Tech (-1.1%) also faced selling pressure. IBM (IBM
110.14, -6.82) dropped 6%, the most in three years, on market
speculation that the company was going to issue an earnings warning.
Treasury prices rose across all constant maturities as investors
remained concern about the credit markets. The benchmark 10-year note
rose 24 ticks, sending its yield down to 3.73%.
|
| 02.10 09:05 |
FOREX. Wednesday summary [M]
The dollar advanced against the euro for a third day as demand for
funding in the U.S. currency increased, reflecting banks' reluctance to
lend to each other amid a global credit crunch.
Foreign banks are paying near the highest premiums in at least a decade
to borrow in dollars in the swaps market even after the Federal Reserve
increased the amount of funds available to other central banks this
week to $620 billion from $330 billion. The U.S. Senate set a vote for
tonight on a $700 billion financial-rescue plan.
Britain's pound declined to the lowest level against the dollar in
almost three weeks after an industry report showed U.K. manufacturing
contracted last month at its fastest pace in 16 years. Sterling fell as
much as 0.8 percent to $1.7655, the lowest level since Sept. 12.
Against the euro, the pound decreased 0.2 percent to 79.29 pence.
The London interbank offered rate, or Libor, that banks charge each
other for one-month dollar loans rose to the highest level since
January, the British Bankers' Association said. The overnight dollar
Libor slid from yesterday's record of 6.88 percent after funding
constraints tied to the end of the third quarter passed. The Libor-OIS
spread, a gauge of cash scarcity, held near a record.
The dollar fell against the yen as the Institute for Supply
Management's factory index dropped last month to 43.5, the lowest since
October 2001, from 49.9 in August, the Tempe, Arizona-based group
reported today. A reading of 50 is the dividing line between expansion
and contraction.
The U.S. Senate agreed to vote on the rescue legislation along with the
measure temporarily raising the limit on federal deposit insurance to
$250,000 from $100,000. That increase was proposed by Republicans
critical of the plan authorizing Treasury Secretary Henry Paulson to
buy troubled debt from lenders, which was rejected by the House on
Sept. 29.
The euro's drop versus the dollar came a day before a meeting of the
European Central Bank at which policy makers led by Jean-Claude Trichet
are forecast to keep the main refinancing rate at 4.25 percent.
EUR/USD having corrected up to a mark $1,4173 after movement on
Tuesday, the pair has decreased and has established session low on
$1,3973. The rate has finished session of environment in the field of
$1,4000.
GBP/USD has finished the tenders in the field of $1,7700 after has established a session low on $1,7631.
USD/JPY after unsuccessful testing a maximum of Tuesday the pair has decreased in area Y105,30. Later the rate could slightly recover.
European data for Wednesday starts at 0700GMT with the September
Nationwide House Price data, which is expected to highlight the
continuing decline in the UK housing market. At 0900GMT of Eurozone
industrial PPI data for August, which is expected to come in at -0.8%
m/m, 8.5% y/y.
The main event for Europe on Wednesday is clearly the ECB interest rate
decision, which is due at 1145GMT . The rate decision will be explained
in the usual post-meeting press conference, which is chaired by ECB
President Jean-Claude Trichet from 1230GMT.
US data also starts at 1230GMT, when US jobless claims are
expected to fall 18,000 to 475,000 for the September 27 week. At
1400GMT, Factory new orders are expected to fall 3.0% in August, as
durable goods new orders were already reported down 4.5%.
|
| 02.10 08:41 |
JAPAN STOCKS:
Japan's stocks ended sharply lower, just off the day's worst levels,
but still at the year's closing low. The Nikkei was down 213.50 points,
or 1.88%, at 11154.76. The broader-based TOPIX was down 24.16 points at
1076.97.
|
| 02.10 08:20 |
USD/JPY techs:
Resistance 3: Y107.00
Resistance 2: Y106.50
Resistance 1: Y106.20
Current price: Y105.54
Support 1: Y105.50
Support 2: Y105.30
Support 3: Y105.00
Comments: The pair continues to be consolidated. As the nearest
resistance level Y106,20/30 (a line of resistance since Sep 19 acts,
and also area of a session high), further is located the yesterday's
hogh on Y106,50, is above possible growth to high on Sep 25 and 29 on
Y107,00. In case of decrease the pair will meet on the way support on
Y105,50 (session low). Below loss of a rate can will increase up to
Y105,30 (area yesterday's low and also 38.2 % FIBO of growth
Y103.45-Y106.50) and further to Y105,00 (50,0 %, and also a Sep 26 low).
|
| 02.10 08:01 |
USD/CHF techs:
Resistance 3: Chf1.1420
Resistance 2: Chf1.1370
Resistance 1: Chf1.1300
Current price: Chf1.1289
Support 1: Chf1.1150
Support 2: Chf1.1065
Support 3: Chf1.0990
Comments: The Senate voted 74-25 in favor of legislation that links the
rescue plan for financial companies to an increase in bank-
deposit-insurance limits and tax breaks, after the House of
Representatives rejected an earlier version of the bill. During voting
the dollar has strengthened the positions. As the nearest resistance
acts Chf1,1300 (area of a session high),above is possible growth to
Chf1,1370 (area of Sep 8 and 9 high), and further to Chf1,1420 (Sep 11
high). The nearest support is Chf1,1150/40 (the level of 23,6 % FIBO of
growth Chf1,0690-Chf1,1300, and also a yesterday's low), further is
located Chf1,1065 (38,2 %) and Chf1,0990 (50,0 %).
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| 02.10 07:40 |
GBP/USD techs:
Resistance 3: $1.8030
Resistance 2: $1.7875 Resistance 1: $1.7750 Current price: $1.7696 Support 1: $1.7630 Support 2: $1.7540 Support 3: $1.7440 Comments:
The U.S. currency also gained on increased demand for dollar funding,
reflecting the reluctance of banks to lend to each other amid a global
credit crunch. As the nearest support the area of low on $1,7630 acts,
overcoming of the given mark will open road to $1,7540 (Sep 5 and 12
low). Stronger level is $1,7440 (Sep 11 low). Intermediate resistance
is presented by a low of Tuesday on $1,7750, above there is a chance of
return to $1,7875 (yesterday's high and also 23,6 % FIBO of falling
$1,8670-$ 1,7630), and further to $1,8030 (38,2 %).
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| 02.10 07:22 |
EUR/USD techs:
Resistance 3:$1.4150
Resistance 2: $1.4030
Resistance 1: $1.4000
Current price: $1.3923
Support 1: $1.3910
Support 2: $1.3880
Support 3: $1.3850
Comments: The dollar rose against the euro, approaching a one-year
high, after the U.S. Senate approved a $700 billion bank-rescue bill to
ease a global credit crisis. As the nearest support the session low on
$1,3910 acts. Below loss of a rate can will increase to an annual low
reached on Sep 11 on $1,3880. In case of overcoming the given mark the
rate can test area $1,3850/30 (area of July-August 2007 high and also
Sep 14, 1 and 18 2007 lows). In case of the restoration, the nearest
area of support will act $1,4000 (Tuesday's low), further intermediate
support is located on $1,4080. As stronger level acts $1,4150 (23,6%
FIBO).
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| 02.10 07:01 |
UK Nationwide house price index (September) -1.7%, Y/Y -12.4% |
| 02.10 06:43 |
Daily History for Okt 01, 2008
High Low Close
EUR/USD 1.4173 1.3973 1.4007
USD/JPY 106.53 105.32 105.82
GBP/USD 1.7874 1.7631 1.7703
USD/CHF 1.1290 1.1143 1.1255
EUR/JPY 150.58 147.48 148.22
EUR/GBP 0.7951 0.7889 0.7909
GBP/JPY 189.93 185.94 187.40
GBP/CHF 2.0008 1.9900 1.9923
Change % Change Last
Nikkei +108.40 +0.96% 11,368.26
Topix +13.72 +1.30% 1,101.13
FTSE +57.14 +1.17% 4,959.59
DAX -24.69 -0.42% 5,806.33
CAC +22.44 +0.56% 4,054.54
Dow -19.59 -0.18% 10,831.07
NASDAQ -22.48 -1.08% 2,069.40
S&P -3.68 -0.32% 1,161.06
10yr Note -0.5900 -0.154% 3.768%
NYMEX Crude Oil -2.11 -2.10% 98.53
Gold +7.20 +0.82% 888.00
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| 02.10 06:21 |
Schedule for today, Thursday, Okt 02, 2008
01:30 AUS Trade Balance (Aug) -717M
06:00 UK Nationwide house price index (September) -1.5% -1.9%
06:00 UK Nationwide house price index (September) Y/Y -12.3% -10.5%
09:00 Е15 PPI (August) 1.1%
09:00 Е15 PPI (August) Y/Y 9.0%
11:45 Е15 ECB meeting announcement 4,25% 4,25%
12:30 Е15 ECB press conference
12:30 USA Jobless claims (week to 27.09) 493К
14:00 USA Factory orders (August) 1.3%
20:30 USA M2 money supply (22.09), bln 20.6
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