CFD Markets News and Forecasts — 06-11-2012

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06.11.2012

20:00

Dow 13,254.55 +142.11 +1.08% Nasdaq 3,010.94 +11.28 +0.38% S&P 500 1,429.05 +11.79 +0.83%

19:00

American focus: the euro has appreciated

The dollar fell against most of the 16 most traded currencies against the fact that voters in the United States must now decide who will lead the world's largest economy within the next four years.
Analysts expect that after an initial rise, the U.S. currency is likely to fall against most other currencies, except the yen as investors' willingness to take risks will increase with the victory of Romney. At the same time, Obama's victory will cause a weakening dollar, in light of the fact that politicians will try to avoid the so-called "financial failure."
The euro continued its rise against the euro despite the fact that the data released today showed that the volume of industrial orders in Germany fell in September to the highest setting for the year. The Ministry of Economy in Berlin said that orders, adjusted for seasonal variation and inflation, fell 3.3%, after a revised downward rate for August at 0.8%.
The Australian dollar rose against all major currencies after the central bank unexpectedly declined to lower interest rates, leaving it at 3.25%.
Note also that in the context of the decision of Australia currency rose to a five-week high against the U.S. dollar.
The dollar index (DXY), which is used to track the U.S. currency against six major currencies, the U.S. partners, decreased slightly, reaching the mark with 80.68, after rising in the previous four days.
Pound during trading trading reserved, but in the last hours showed a slight increase. Note that in the first half of the day rate fell slightly against the dollar after a report showed that industrial production and manufacturing output declined significantly, exceeding the estimates of analysts. Also during the session, it became known that the house price index fell in October by 0.7%, while the expected increase of 0.5%. But despite this, the currency could still be strengthened by setting a new session high.

18:20

European stocks close:

European stocks advanced for the third time in four days as Americans went to the polls to elect their president.

ARM Holdings Plc increased 1.8 percent as Apple Inc. (AAPL) was said to explore how to use the chip designs from its mobile devices in Mac personal computers. Adecco SA (ADEN) climbed 3.2 percent after the world’s biggest supplier of temporary workers reported earnings that exceeded estimates. Volkswagen AG (VOW) dropped 4.4 percent as the carmaker sold 2.5 billion euros ($3.2 billion) of bonds that convert into shares.

The Stoxx Europe 600 Index (SXXP) increased 0.5 percent to 274.61 at 4:35 p.m. in London, as more than two shares rose for every one that declined.

The Bank of England and the ECB will both leave their key interest rates unchanged at meetings on Nov. 8,

The Democratic Left party’s lawmakers said they won’t support the bill because of proposed changes to labor laws. Unions began a 48-hour general strike today to protest against the measures. The vote will be held as soon as tomorrow, followed by another ballot on the 2013 budget on Nov. 11.

National benchmark indexes rose in 17 of the 18 western European markets.

FTSE 100 5,884.9 +45.84 +0.79% CAC 40 3,478.66 +30.16 +0.87% DAX 7,377.76 +51.29 +0.70%

ARM (ARM), whose chip designs power Apple’s iPhones, rose 1.8 percent to 707.5 pence. Apple’s engineers have grown confident that the chip technology used for its mobile devices will have enough power to run its desktops and laptops, according to three people familiar with the company’s research.

Adecco advanced 3.2 percent to 46.60 Swiss francs as the world’s biggest supplier of temporary workers reported third- quarter profit of 118 million euros. That beat the median analyst estimate for net income of 103.2 million euros.

Air France-KLM (AF) Group, Europe’s second-largest airline by sales, surged 5.2 percent to 7.33 euros, its highest price since August 2011. Italian newspaper La Repubblica reported that Alitalia SpA, which is partly owned by Air France, plans to sell assets to avoid a capital increase.

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Fraport AG gained 5.3 percent to 46.20 euros after the owner of Frankfurt airport said quarterly profit jumped 36 percent as passenger numbers increased.

Hannover Re rallied 4.4 percent to 55.87 euros as the world’s fourth-biggest reinsurer forecast record earnings this year. Third-quarter profit rose 63 percent to 265.5 million euros from 163.2 million euros a year earlier, the reinsurer said. That beat the 216 million-euro average estimate of analysts surveyed.

Andritz AG (ANDR) fell 1.9 percent to 46.93 euros as the world’s second-biggest hydropower-turbine maker said third-quarter orders declined 1.2 percent. Net income dropped 5.6 percent to 58.5 million euros, compared with the 60.4 million-euro average analyst forecast.

17:00

European stocks close in plus: FTSE 100 5,884.9 +45.84 +0.79% CAC 40 3,478.66 +30.16 +0.87% DAX 7,377.76 +51.29 +0.70%

16:42

Crude oil futures are rising

Price of oil continued its rise yesterday amid predictions that gasoline inventories in the U.S. fell after hurricane "Sandy," which led to the forced closure of the refinery on the east coast.

Prices rose by 1.3%, after a survey showed that fuel stocks may have fallen by 1.5 million barrels to a level of 198 million barrels last week. If the findings are confirmed, it would be the first decline in the past four weeks. Recall that the official data tomorrow will provide the Department of Energy.

Note, Phillips (PSX) is planning to resume normal operation at the level of 238,000 barrels per day in the Bayway plant in two to three weeks after the repair equipment damaged "Sandy."

Hess said yesterday that it is partially restored production at the level of 70.000 barrels a day. At the same time, the three refineries in the state of Pennsylvania, Delaware and New Jersey back to work, but while revenge will hold prey in smaller amounts.

Note that the hurricane "Sandy" - the biggest in the history of the Atlantic storm, which led to a complete or partial halt of oil refineries with a total capacity of 1.17 million barrels a day.

December futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 85.05 dollars a barrel on the New York Mercantile Exchange.

December futures price for North Sea petroleum mix of mark Brent rose 20 cents to 105.76 dollars a barrel on the London Stock Exchange

16:22

Gold prices rise

Gold prices have stabilized, departing from the nine-week low, as investors are awaiting the outcome of the U.S. presidential election.

Also the focus of the market was the news from Greece. It is learned that in Greece began a 48-hour strike against a new round of cuts in public spending, which was the third in the last two months.

Note that the outcome of the elections in the U.S. depends on the future policy of the country. Some analysts said the Obama victory may raise the price of gold, so he left as head of the Federal Reserve Ben Bernanke, who was in favor of incentives, while Romney victory would be positive for the stock, as the ego policy will be based on business development and tax cuts.

At the same time, creation of money by the central bank increases the attractiveness of gold, as it keeps interest rates low, and reduces the opportunity cost of ownership for the metal.

Today's data also showed that the importers of gold in India remained on the sidelines, awaiting the outcome of the U.S. elections. Note that the import of gold in India may fall to 550 tonnes in the next year, compared with 967 tons in 2011, as high inflation and prices have a negative impact on the level of disposable income of consumers.

Gold is expected to remain above the support area $ 1675 - $ 1678 per ounce for one more trading session, as there is no sign of a break below this zone.

December futures price of gold on COMEX today rose to 1693.00 dollars per ounce.

16:20

Gold: an overview of the market situation

Gold prices rose slightly today , breaking with the longest string of declines in nearly six months, as the dollar fell to strengthen expectations that the U.S. Federal Reserve will expand its monetary stimulus . Note that , according to John Williams , president of the Federal Reserve Bank of San Francisco , the economic growth in the U.S. in recent months, did not meet expectations. In this regard , he noted that the situation in the labor market are unlikely to improve without incentives.

It should be noted that the timing of a possible narrowing of the monthly bond purchases by the Fed was the main factor that influenced the price of gold. Precious metal has lost a fifth of its value so far on fears that the Fed will reduce the volume of stimulation.

Recent mixed economic data cast doubt on the real strength of the U.S. economy, leading some economists were made with the assumption that the Fed will change its policy before the end of the year.

Add that trading volumes were low in the past few sessions , and , most likely, and will remain so in the coming days , as investors are awaiting data on employment in the non-agricultural sector of the economy, which may give more clues about the state of the economy and future incentives by the Fed .

Also, market participants are waiting for the ECB 's interest rate. Improvement in macroeconomic indicators in the U.S. and the UK in sharp contrast with the data from the euro zone , where in the last week have been reported record- high unemployment and negative inflation . It is expected that the ECB will leave rates unchanged , but the dynamics of gold will also depend on the value of the dollar relative to the single European currency.

Demand for physical gold has not grown much as traders are waiting for the determined price direction . Customers in Asia are hoping to wait for a lower price.

The cost of the December gold futures on COMEX today rose to $ 1316.90 per ounce.