Market outlook by ACFX 12/12/11
December 12th, 2011
Important Financial Indicators of the day
Forecast Previous
GBP Tentative BOE Gov King Speaks
USD 19:00 (GMT) Federal Budget Balance -138.0B -95.5B
Currencies
EUR/USD The dollar gained against most of its major counterparts before a German report tomorrow that may show investor confidence in Europes largest economy slid to a three-year low, boosting demand for safer assets.
o The dollar advanced 0.3 percent to $1.3349 per euro at 6:48 a.m. in London.
Asian currencies gained after European leaders took steps to contain their debt crisis and U.S. consumer confidence topped forecasts, easing concern that global growth is slowing.
USD/CAD The Canadian dollar reached its strongest level in five weeks as signs of growth in the U.S., the nations biggest trade partner, and Europes latest plans to tackle its debt crisis fueled appetite for riskier assets.
o Canadas currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, appreciated 0.3 percent to C$1.0169 on friday.
Commodities
Gold prices fell more than 1 percent on Monday on technical selling and concerns that the European Union summit had stopped short of producing a convincing plan to solve the euro zone debt crisis.
o Spot gold lost as much as 1.5 percent to a two-week low of $1,684.19 an ounce, and regained some lost ground to $1,694.40 by 0411 GMT.
Oil slid in New York, extending last weeks decline, as concern Europe will be unable to tame its debt crisis countered Irans calls for production cuts before an OPEC meeting this week.
o Crude for January delivery fell as much as 37 cents to $99.04 a barrel in electronic trading on the New York Mercantile Exchange.
December 12th, 2011
Important Financial Indicators of the day
Forecast Previous
GBP Tentative BOE Gov King Speaks
USD 19:00 (GMT) Federal Budget Balance -138.0B -95.5B
Currencies
EUR/USD The dollar gained against most of its major counterparts before a German report tomorrow that may show investor confidence in Europes largest economy slid to a three-year low, boosting demand for safer assets.
o The dollar advanced 0.3 percent to $1.3349 per euro at 6:48 a.m. in London.
Asian currencies gained after European leaders took steps to contain their debt crisis and U.S. consumer confidence topped forecasts, easing concern that global growth is slowing.
USD/CAD The Canadian dollar reached its strongest level in five weeks as signs of growth in the U.S., the nations biggest trade partner, and Europes latest plans to tackle its debt crisis fueled appetite for riskier assets.
o Canadas currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, appreciated 0.3 percent to C$1.0169 on friday.
Commodities
Gold prices fell more than 1 percent on Monday on technical selling and concerns that the European Union summit had stopped short of producing a convincing plan to solve the euro zone debt crisis.
o Spot gold lost as much as 1.5 percent to a two-week low of $1,684.19 an ounce, and regained some lost ground to $1,694.40 by 0411 GMT.
Oil slid in New York, extending last weeks decline, as concern Europe will be unable to tame its debt crisis countered Irans calls for production cuts before an OPEC meeting this week.
o Crude for January delivery fell as much as 37 cents to $99.04 a barrel in electronic trading on the New York Mercantile Exchange.