Forex Spread Betting: EUR / USD Falls Amid Debt Crisis Resolution Concerns
|
|
|
|
|
|
The regular trading review of the main UK, US and European markets, plus a quick look at the commodities and forex markets.
For today's report see Financial Trading Review.
|
Sponsered by
ETX Capital
|
Financial Trading Review - 21 October 2011
|
UK Trading Review
UK markets declined yesterday, as investors remained apprehensive about the outcome of the forthcoming EU summit, amid reports of a rift between France and Germany over the how to boost the eurozone rescue fund.
Among, engineering stocks, IMI, the top laggard on the FTSE 100 index, slumped 5.6%, while Weir Group fell 1.5%, dragged down on demand concerns.
Mining stocks, Anglo American and Kazakhmys slid 4.0% and 5.0%, respectively, as base metal prices fell.
Rio Tinto lost 3.9%, as Natixis downgraded the stock to “Neutral” from “Buy”.
Antofagasta slipped 3.4%, after Tethyan Copper, its joint venture with Barrick Gold, failed to get an extension for extraction in Baluchistan region.
Energy stocks, BP, BG Group and Tullow Oil retreated between 1.6% and 3.6%, as oil prices lost ground.
FTSE 100 fell 1.2% to 5,384.7, while FTSE 250 shed 1.2% to 10,111.1.
European Trading Review
European stocks closed lower yesterday, as disagreement between Germany and France over how to boost the European Financial Stability Fund hampered market sentiments, increasing concerns that a resolution to the European debt crisis might get delayed.
Banks, Intesa Sanpaolo and UniCredit, fell 9.8% and 12.0%, respectively, after Fitch Ratings stated that prospects for Italy’s five largest banks “have significantly deteriorated”.
Deutsche bank dropped 5.5%, after it lost a bid to reclassify $2.4 billion in claims on Lehman Brothers Holdings.
Utilities, RWE and EON, dropped 5.2% and 5.8%, respectively, after Kepler Equities downgraded both the stocks to “Reduce” from “Buy”.
Schneider Electric slumped 7.6%, after the company lowered its 2011 profit target for the second time in four months. FTSEurofirst 300 index slipped 1.4% to 954.3.
German DAX Xetra 30 fell 2.5% to 5,766.5. French CAC-40 dropped 2.3% to close at 3,084.1.
US Trading Review
US markets finished mostly higher yesterday, recovering from earlier session losses, as German and French leaders agreed to provide a “comprehensive” solution to the European debt crisis, ahead of the EU summit.
Fifth Third Bancorp, the top gainer on the S&P 500 index, surged 9.1%, after its net income jumped more than doubled and profitability of loans improved in the third quarter.
Nokia jumped 6.2%, after it reported a smaller-than-expected drop in its third-quarter profits.
Philip Morris jumped 3.3%, after it raised prices in Japan.
Voice communications solutions provider, Polycom, the top laggard on the NASDAQ, slumped 25.2%, as its third-quarter earnings fell short of market expectations.
Dell fell 5.4%, amid concerns that flooding in Thailand could disrupt some electronic parts production for several quarters ahead.
DJIA edged up 0.3% to 11,541.8. NASDAQ fell 0.2% to 2,598.6. S&P 500 gained 0.5% to 1,215.4.
Forex Trading Review
At 0400 BST today, the GBP is trading marginally higher against the USD at $1.5806, 0.1% higher against the EUR at €1.1471 and 0.1% lower against the JPY at ¥121.35.
The EUR / USD is trading 0.1% lower at $1.3779, amid concerns that European leaders would struggle to resolve the eurozone debt crisis. The EUR also fell, amid speculation that German business confidence fell in October to the lowest level in more than a year.
The EUR is trading 0.2% lower against the JPY at ¥105.80.
The JPY is trading higher against the major currencies, as investors speculated over European leaders’ ability to resolve the eurozone debt crisis, increasing demand for safer assets.
The AUD and NZD are trading lower against the USD, as ongoing worries over the Eurozone debt crisis dampened the demand for high yielding assets.
Yesterday, the GBP ended higher against the USD, after the UK Office for National Statistics reported that retail sales rose much more than expected in September. The GBP also rose as a draft document showed the bailout fund might be authorized to provide additional funds to nations such as Italy and Spain.
The EUR ended higher against the USD, amid optimism that European leaders would be able to solve the eurozone debt crisis next week. This came as Germany and France jointly stated that they would discuss a comprehensive solution to the euro zone crisis at their weekend summit, though no decisions would be adopted before a second meeting next week.
Commodities Trading Review
In Asia, crude oil for December delivery is trading 40 cents higher at $86.47 per barrel.
Yesterday, crude oil for December delivery closed 0.25% or 22 cents lower at $86.07 per barrel. This came amid worries that disagreement between Germany and France over the bailout strategy could derail the pace of the economic recovery, dampening the outlook for oil consumption.
Gold for immediate delivery is trading 0.5% lower today, at $1,625.93 per ounce.
Gold prices for December delivery declined 2.1% or $34.10 to $1,612.90 per ounce yesterday, extending its losing streak to a fourth session, as some encouraging US economic data dimmed the demand for gold as a safe haven.
Financial Trading News
For more daily views, news and analysis of the markets also see:
|
The above comments do not constitute investment advice and neither ETX Capital nor Clean Financial accept any responsibility for any use that may be made of them. Any prices or data are indicative and subject to change without notice; its accuracy is not guaranteed and should not be relied on.
ETX Capital »
"With ETX Capital you get all the normal
advantages of Spread Betting plus..." » read
ETX Capital review.
|
Risk Warning: Financial spread bets and CFDs are leveraged products and it is possible for losses to exceed deposits. Financial spread betting and CFD trading are not suitable for everyone so please seek advice if you do not understand the risks.
Article provided / approved by ETX Capital which is the trading name of Monecor (London) Limited, company number 00851820. Monecor (London) Ltd is authorised and regulated by the Financial Services Authority, registration number 124721.
'Forex Spread Betting: EUR / USD Falls Amid Debt Crisis Resolution Concerns' edited by ETX Capital, updated 21-Oct-11
Related Articles:
Financial Trading Review, updated 20-May-13
The daily trading review of the key European and US markets as well as a quick review of the forex and commodities markets. In the last trading session we saw...read article: Financial Trading Review.
Financial Markets Trading Review, updated 17-May-13
Financial Markets Trading Review - the regular trading review of the main US and European markets. There's also a quick look at the commodities and forex markets as well as...read article: Financial Markets Trading Review.
US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut, updated 18-Apr-13
Apple fell 5.5%, as its supplier, Cirrus Logic reported an inventory glut, which indicated that iPhone sales might fall short of market estimates. Cirrus Logic plunged 15.7%. Textron tumbled...read article: US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut.
Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale, updated 17-Apr-13
Coca-Cola rose 5.7%, as it reported first-quarter earnings that topped market estimates. The company also announced plans to sell some bottling distribution rights in...read article: Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale.
Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves, updated 16-Apr-13
Gold prices fell, as last week's reports about Cyprus selling its excess gold reserves to raise €400 million needed to finance its EU bailout. Also contributing to weakness...read article: Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves.
USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth, updated 15-Apr-13
The JPY is trading higher against its major peers, as an unexpected slowdown in China's economic growth weighed on risk sentiment and boosted demand for the yen as a...read article: USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth.
Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims, updated 12-Apr-13
US markets ended higher yesterday, with the Dow Jones and the S&P 500 climbing to fresh all-time highs, as a bigger than expected drop in US initial jobless claims boosted confidence that...read article: Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims.
European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid, updated 11-Apr-13
Deutsche Telekom has improved its bid for the proposed merger between its unit T-Mobile USA and MetroPCS Communications by reducing the combined company's debt by $3.8 billion to...read article: European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid.
US Stock Market Futures: AMD Surges on Links to Next Xbox Console, updated 09-Apr-13
Advanced Micro Devices surged 13.1%, as Microsoft Corp would use the company's chips in its next Xbox game console. General Electric and Lufkin Industries advanced...read article: US Stock Market Futures: AMD Surges on Links to Next Xbox Console.
GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech, updated 08-Apr-13
The USD is trading higher against its major peers, ahead of Federal Reserve Chairman Ben Bernanke's speech in Atlanta, US. The GBP/USD is trading slightly lower at...read article: GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Financial Trading Review Index - an index of financial trading reviews, with each review covering the forex and commodities markets as well as the main US and European markets.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
