1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

14/4/2009 - The Current Market Sentiment

Discussion in 'Current Market Sentiments' started by fx-recommends, Apr 14, 2009.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    The gold has given back most of its earlier gains versus the greenback after the release of the US PPI figures of March which came lower than the market expectations of -2.2% yearly and 0% m/m at -3.5%y/y and 1.2% monthly. The figures show benign inflation pressure in US at the producing level on March to cap the gold from breaking 900$ for a while! .By god's will, we wait tomorrow for the US CPI figures of March which are expected to show unchanging y/y and increasing by .1% m/m and the core figures excluding the food and energy are expected to come up by just .1% monthly and 1.7% yearly.
    The US retail sales came lower than the market expectation too effecting negatively on the equity market. March retail sales declined monthly by 1.1% and the market was waiting for an increasing by .3% and the figure excluding the auto sales has dropped by .9% while the market was waiting for no change from February and Dow is trading right now below 8000.
    The greenback is still sinking below 100 versus the Japanese yen on this recent decline in the US equity market and it is trading just above 99 right now waiting later today for Ben Bernanke's speech about the credit crisis from Atlanta.

    The cable is still well supported after the breaking of 1.4777 yesterday. The cable was trading before the Easter holidays between this level and 1.458. We wait later today for the release of UK RICS Housing Price Balance release of March which is expected to be down by 77%.

    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com

Share This Page