Directional Bias for the Day: S&P Futures are lower at 8:30 AM – near moving within a trading range between 4569.00 and 45500. since 1:00 AM – near the upper bound of the range The odds are for a down day with a good chance of a sideways to an up move from the pre-open…
Last week started a volatile period for Nikkei 225. As we noted on May 24th, there are two opposing forces acting on the Japanese economy. One is Abenomics and the other is formed by a combination of fundamental reasons, namely –1) Weak closing of S&P 500 following confusing testimony of Chairman Bernanke; 2) Volatility in…
Here is what I am reading: Weak Japan exports, hit by Europe, raise questions on recovery (Reuters) BHP mothballs $30b Olympic Dam expansion (The Sydney Morning Herald) Drawing the Wrong Inferences from Economic Data (A Dash Of Insight) Put Inflation Fears Aside (The New York Times) “Uncertainty” Is Nothing More Than Wall Street Whining (Capital…
Emerging markets have been acting as the engine for the global growth for past many years. Their economies are growing in high single digit or double digit in some cases. However, looking at the performance of their stock markets, you wouldn’t be able to make that determination. Here is their performance since Feb ’08. The chart uses country/region specific…
In recent times, one of the flight-to-safety trade in currency markets has been USD/JPY. When the market uncertainty goes up, JPY goes up against USD. USD made an all time low of 75.57 on October 31, 2011. It again came down to within 50 PIPs of this low in early Feb ’12 before rising up to 84.178…
“The three nations are major traders, and together accounted for 19.6 per cent of global gross domestic product and 18.5 per cent of exports in 2010, according to a feasibility study issued by their governments last year on the trade pact.” ““China is the biggest trade partner of both Japan and South Korea. A free-trade…
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