Goooodd mon morning folks. It is a fabulous week and morning here in Singapore. I hope you have had a great weekend and lets see what the market has to offer as of the last closing days of last week and this week ahead.
We were last watching the компютриCAD Core CPI m/m report. We were expecting a deviation of 0.2% on this release but the deviation only came out at 0.1% which wasnt enought to guarantee a safe trade. We therefore didn’t enter any positions with this new release.
For today, we have no tradeable indicators coming out. All the reports are lukewarm and nothing really that could shake the market in any direction. So take a break off for today and watch out for my forecast tomorrow.
USD review and outlook:The USD had a surprise jump last friday, renewing strong interest and risk apetite with most investors/traders, esp on the USD bullish trend. I believe that the FED’s opposition to any further interest rate cuts somehow signalled the end of the road for the neverending series of interest rate cuts and possibly the fight against recession. As i have mentioned before in my posts, i feel that the problems with sub-prime and the US economy have been in the making for years now and the very problems that caused the economy to boom are the same problems that are causing the problems right now. I also don’t feel that the end is here and neither is it anywhere near. Therefore, this short term reversal could be renewed interest in anticipation for firms that are facing the falling US$ value hammer and perhaps spark some short term spike in growth.
On the flipside, the stockmarkets did pretty well though. Most of the major international stocks, such as CitiGroup, Google, Caterpillar and Honeywell, did better than expected, showing their resilience to perform well under all market conditions. The broader S&P 500 posted its best week since February as the index rose 24.77 points to 1,390.33, with 213 stocks hitting a new 52 week high.
This week, we have BOC, BOE and BNZ minutes and review reports coming out. I somehow feel that there won’t be much changes at the moment for the tones are pretty hawkish with most industries and in turn economies.
Take care & God Bless,
Seeni
If you liked my post, feel free to subscribe to my rss feeds
BlogoSquare
2 Comments so far (Add 1 more)