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.
|
Sponsored 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:
French CAC 40 Futures Rise as Lafarge Announces Joint Venture, updated 09-Jan-13
French CAC 40 futures are trading higher after Lafarge announced that it had forged a joint venture in Mexico with Elementia, to combine their cement assets. Elementia is...read article: French CAC 40 Futures Rise as Lafarge Announces Joint Venture.
EUR/JPY Spread Betting Market Rises on Japanese Stimulus Speculation, updated 08-Jan-13
The EUR/JPY spread betting pair is trading 0.3% higher at ¥114.88, amid speculation Japan's government would announce further stimulus. The Eurozone jobless rate is expected to rise to...read article: EUR/JPY Spread Betting Market Rises on Japanese Stimulus Speculation.
S&P 500 Spread Betting Market Hit 5 Year High on Jobs Report, updated 07-Jan-13
US markets ended higher on Friday, with the S&P 500 index closing at a five-year high. This came after a key jobs report showed employers kept up a steady pace of hiring workers in...read article: S&P 500 Spread Betting Market Hit 5 Year High on Jobs Report.
GBP/USD Spread Betting Market Slips on Contracting Construction PMI Data, updated 04-Jan-13
The GBP closed lower against the USD after UK construction PMI dropped unexpectedly to a reading of 48.7, marking its fastest pace of contraction in...read article: GBP/USD Spread Betting Market Slips on Contracting Construction PMI Data.
Index Spread Trading Markets Surge on Fiscal Cliff Deal, updated 03-Jan-13
US index markets ended sharply higher yesterday, after US lawmakers reached a last-minute deal to avert the fiscal cliff of automatic tax increases and...read article: Index Spread Trading Markets Surge on Fiscal Cliff Deal.
US Stock Market Spread Betting: Facebook Rallies on Broker Upgrade, updated 02-Jan-13
In US stock market spread betting, Facebook rallied 2.7%, as the Bank of Montreal upgraded its rating on the stock to 'Outperform' from 'Underperform'. Apple gained 4.4% after...read article: US Stock Market Spread Betting: Facebook Rallies on Broker Upgrade.
EUR/USD Spread Betting Market Rises as French Sentiment Improves, updated 28-Dec-12
The EUR closed higher against the USD, after a report indicated that an index of French household sentiment rose to 86.0 in December from 84.0 in November, marking the...read article: EUR/USD Spread Betting Market Rises as French Sentiment Improves.
FX Spread Betting: US Dollar Weakens as Congress Continue Fiscal Cliff Negatiations, updated 27-Dec-12
The USD is trading lower against most of its major counterparts, as President Barack Obama and US Congress return to Washington today to continue negotiations over...read article: FX Spread Betting: US Dollar Weakens as Congress Continue Fiscal Cliff Negatiations.
Crude Oil Futures See Gains on Fiscal Cliff Agreement Optimism, updated 19-Dec-12
Crude oil futures gained $0.73 amid optimism that the US lawmakers are getting closer to agreeing on budget reforms to avert the impending...read article: Crude Oil Futures See Gains on Fiscal Cliff Agreement Optimism.
Gold Spread Betting Market Rises After Liberal Democratic Party Win Japanese Elections, updated 18-Dec-12
The gold spread betting market traded higher on rising expectations that the Bank of Japan would use more monetary stimulus to weaken the yen after the Liberal Democratic Party won...read article: Gold Spread Betting Market Rises After Liberal Democratic Party Win Japanese Elections.
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!
|
|
