Forex-novosti i prognoze od 01-12-2011

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01.12.2011
20:11
Dow 12,025.17 -20.51 -0.17%, Nasdaq 2,628.28 +7.94 +0.30%, S&P 500 1,245.38 -1.58 -0.13%
19:57
European stocks close:

European stocks declined, snapping a four-day rally in the benchmark Stoxx Europe 600 Index, as China’s manufacturing contracted in November adding to concern global economic growth is slowing down.

China’s manufacturing recorded the weakest performance since the global recession eased in 2009, underscoring the case for monetary stimulus. A purchasing managers’ index compiled by the China Federation of Logistics and Purchasing slid to 49 in November, lower than all but two of 18 forecasts in a Bloomberg News survey. Readings below 50 signal a contraction.

Spain sold the maximum amount of debt planned at an auction. France sold 4.3 billion euros of securities, compared with a maximum 4.5 billion euros of debt available on offer as 10-year bonds sold were priced to yield 3.18 percent, less than at a previous auction on Nov. 3.

National benchmark equity indexes declined in every western-European market except Switzerland. The U.K.’s FTSE 100 Index dropped 0.3 percent, France’s CAC 40 Index fell 0.8 percent and Germany’s DAX Index fell 0.9 percent.

BNP Paribas SA and Societe Generale SA, the biggest French lenders, declined 2 percent to 28.88 euros and 3.2 percent to 17.50 euros, respectively. Goldman’s Chief Global Equity Strategist Peter Oppenheimer cut the European banking sector to ’underweight’ from ’sell’ as he expects sector to remain under pressure to shore up balance sheets.

Hochtief fell 1.5 percent to 41.78 euros and Vinci SA (DG), Europe’s biggest builder, slipped 2 percent to 32.44 euros. Vinci pulled out of bidding for the purchase of Hochtief’s airport-operating business, Societe Generale said in a research note today, citing Vinci’s chief financial officer.

Norsk Hydro, Europe’s third-largest aluminum maker, fell 2.9 percent to 26.86 kroner after forecasting lower global growth in demand for the metal. Goldman Sachs recommended selling the shares on low returns and near-term weakness.

Burberry Group Plc, the U.K.’s largest luxury-goods maker, rallied 3 percent to 1,308 pence. The company plans to add more stores in Paris after its opening on rue Saint Honore, Les Echos reported, citing Chief Executive Officer Angela Ahrendts.

18:49
Franc unleashed after comments by the government of Switzerland

Frank dramatically weakened on all fronts, falling against the euro and the dollar amid reports that Switzerland is considering the introduction of negative interest rates in order to weaken the currency.

A pair of EUR / CHF for a few minutes gained almost 130 pips, and updated the 2-week high at 1.2388, followed by minor adjustments. Now prices are held in the mark 1.2330, which is 0.5% above the opening price.

USD / CHF, meanwhile, rose sharply from 0.9100 marks and reached the day high at0.9189. At the moment, prices are held above 0.9150.

18:32
U.S. stocks fell

 

U.S. stocks fell, after the biggest three-day rally in the Standard & Poor’s 500 Index since 2009, as Massachusetts sued lenders including Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) over foreclosure practices.

More Americans than forecast filed applications for unemployment benefits during Thanksgiving week, signaling limited recovery in the labor market. A purchasing managers’ index compiled by the China Federation of Logistics and Purchasing slid to 49 in November, lower than all but two of 18 forecasts in a Bloomberg News survey. Manufacturing in the U.S. grew in November at the fastest pace in five months.

Spain and France sold 8.1 billion euros ($10.9 billion) of bonds today, sending yields lower across Europe. The European Union may exempt bank debt issued before 2013 from proposals forcing investors to take losses at failing lenders, said a person familiar with the plan. Excluding the debt is designed to prevent lenders’ funding costs from rising, said the person.

Massachusetts Attorney General Martha Coakley said she sued Bank of America, JPMorgan, Citigroup Inc., Ally Financial Inc. and Wells Fargo & Co. for their allegedly “unlawful and deceptive conduct” in foreclosures. Coakley will hold a press conference today in Boston to discuss the lawsuit.

Dow 11,983.02 -62.66 -0.52%, Nasdaq 2,618.98 -1.36 -0.05%, S&P 500 1,241.29 -5.67 -0.45%

Financial stocks had the biggest drop (S5FINL) in the S&P 500 among 10 industries, falling 1.6 percent. Bank of America slumped 1.9 percent to $5.33. JPMorgan retreated 2.6 percent to $30.18. Citigroup slipped 2.7 percent to $26.75. Wells Fargo decreased 1.6 percent to $25.44.

Kohl’s Corp. lost 7.4 percent to $49.82. The retailer said November same-store sales fell 6.2 percent, missing an estimated 2.1 percent increase.

Yahoo! Inc. rallied 3.1 percent to $16.20. Alibaba Group and Softbank Corp. are in advanced talks with Blackstone Group LP (BX) and Bain Capital LLC about making a bid for all of Yahoo, said three people with knowledge of the matter. A bid may value Yahoo at more than $20 a share because of tax savings tied to the Internet company’s stakes in Alibaba and Yahoo Japan, said two of the people, who declined to be identified.

 

17:40
Oil fell

Oil fell as more Americans filed applications for jobless benefits and Chinese manufacturing weakened, bolstering concern that the economies of two biggest crude-consuming countries are slowing.

Futures dropped as much as 1.3 percent after the Labor Department said U.S. unemployment claims rose by 6,000 to 402,000 last week. China’s manufacturing contracted in November for the first time since February 2009, a purchasing managers’ index compiled by the China Federation of Logistics and Purchasing showed.

Crude for January delivery declined to $98.87 a barrel on the New York Mercantile Exchange. Futures climbed 7.7 percent in November and are up 8.6 percent this year.

Brent oil for January settlement fell $1.89, or 1.7 percent, to $108.63 a barrel on the London-based ICE Futures Europe exchange.

U.S. jobless claims were projected to drop to 390,000 last week, according to the median forecast of 43 economists in a Bloomberg News survey.

The U.S. and China were responsible for 32 percent of global oil consumption in 2010, according to BP Plc’s Statistical Review of World Energy released on June 8.

17:20
Europe stocks closed in minus: FTSE 100 5,489 -16.08 -0.29%, CAC 40 3,130 -24.67 -0.78%, DAX 6,036 -52.96 -0.87%
16:45
Gold is trading in area of reached highs

Decision of world major central banks to unlock the credit markets and prevent a global financial meltdown continues to support gold prices.

The U.S. Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said they would lower the cost of existing dollar swap lines by 50 basis points from Dec. 5, and arrange bilateral swaps to provide liquidity for other currencies.

Gold was last at $1,747.20 an ounce (+0.10%), having risen to a session peak of $1,758 earlier, its highest since Nov. 17. 

16:14
GBP/USD extends losses


The pair fell to $1.5687, triggering stops on the downward move. Demand seen into $1.5680, ahead of more bids at $1.5665/60 with stops set on a break.


 

15:55
Pierpont Securities about US data

“Nov mfg ISM was healthy and represent remarkable recovery. However, IMS was above 60 early in '11 and that means just modest growth. Also "ISM employment gauge slipped to 51.8, matching the lowest reading in two years."

15:38
Tech on S&P futures

 

Resistance 3:1270 (Nov 14 high)

Resistance 2:1258 (Nov 16 high)

Resistance 1:1250 (session high)

Current price: 1247.01

Support 1 : 1235 (session low) 

Support 2 : 1225 (38,2 % FIBO of growth from 1183)

Support 3 : 1216 (50,0 % of growth from 1183)

 


 

15:03
Nov mfg ISM components

New orders 56.7 vs 52.4.

Employment 51.8 vs 53.5.

Prices paid 45.0.

Production 56.6 vs 50.1.

15:01
US: Nov mfg ISM 52.7
14:51
Option expiries for today's 1500GMT cut:

 

EUR/USD $1.3310, $1.3350, $1.3400, $1.3500, $1.3700

USD/JPY Y76.55, Y77.50, Y77.90, Y78.75

AUD/USD $0.9950, $1.0000, $1.0300

EUR/JPY Y103.00

GBP/USD $1.5655, $1.5635, $1.5600, $1.5500, $1.5490

EUR/CHF Chf1.2300

 

14:33
US Stocks open: Dow 12,020.63 -25.05 -0.21%, Nasdaq 2,614.29 -6.05 -0.23%, S&P 1,243.93 -3.03 -0.24%
14:26
Before the bell: S&P futures -0.3%, Nasdaq futures -0.1%

U.S. stock futures fell as an increase in jobless claims and weaker manufacturing in China raised concern about global growth.

Spain and France held decent bond auctions today, with the latter's borrowing costs slipping in a sale of 10-year notes. Spain sold €3.75B of bonds, the top end of its range, with demand rising to 2.69 times the amount sold. However, the average yield rose to 5.544%, the highest in at least six years and up from 4.848% on similar notes auctioned at the beginning of November.

World markets:
Nikkei   8,597 +162.77 +1.93%
Hang Seng 19,002 +1,012.91 +5.63%
Shanghai Composite 2,387 +53.45 +2.29%
FTSE   5,530 +25.04 +0.45%
CAC   3,145 -9.68 -0.31%
DAX 6,053 -35.41 -0.58%
Crude oil: $100.17 (-0,2%).
Gold: $1749,70 (+0,2%).

 

14:14
Company news: Disney (DIS) rises after announcing an annual dividend of $0.60/share, up 50% from last year's $0.40/share. Shares of DIS +0.64% premarket.
13:51
Upgrades and downgrades of Dow Jones Industrial components before the market open:

Hewlett-Packard (HPQ) was upgraded to Sector Perform from Underperform at Pacific Crest.

Procter & Gamble (PG) was upgraded to Outperform from Sector Perform at RBC Capital.

13:30
US: Initial jobless claims 402k in Nov 26 wk
13:28
European session: The euro strengthened

Data: 
08:45 Italy PMI (November) 44.0
08:50 France PMI (November) 47.3
08:55 Germany PMI (November) seasonally adjusted 47.9
09:00 EU(17) PMI (November) 46.4
09:30 UK CIPS manufacturing index (November) 47.6 
 
The euro strengthened after Spain sold its maximum target of debt today and French yields dropped at an auction.
Spain sold 3.75 billion euros of bonds, the central bank said, meeting the maximum target. The average yield on the five- year notes was 5.544 percent, compared with 4.848 percent when similar-maturity debt were auctioned on Nov. 3. France sold 1.57 billion euros of 10-year bonds at an average yield of 3.18 percent, down from 3.22 percent at the prior offering on Nov. 3.
The Dollar Index fell for a fourth day before U.S. reports forecast to show manufacturing and employment improved, damping demand for safer assets.
The Institute for Supply Management’s factory index, a gauge of U.S. manufacturing, climbed to 51.8 in November from 50.8 the previous month, according to a survey before today’s report. Employers added 125,000 workers last month after hiring 80,000 in October, a separate survey showed before the Labor Department data tomorrow.

EUR/USD: the pair has become stronger in $1.3500 area.
GBP/USD: the pair has shown low in $1.5630 area, but later restored above $1,5700.
USD/JPY: the pair was in Y77.55-Y77,75 area.

US data at 1330GMT, the weekly initial jobless claims are expected to fall 3,000 to 390,000 in the November 26 week. Also at 1500GMT the ISM manufacturing index is expected to rise to a reading of 52.0 in November after falling slightly in October. The regional data already released suggest only modest growth.



13:06
USA. Nov chain store results

 

Target +1,8% y/y

Macys +4,8% y/y

GAP -5,0% y/y

 

12:53
Goldman about yesterday's swaps announcements

"The timing of these changes likely reflects the deterioration in funding market conditions over the last several weeks and the 

announcements were a step in the right direction but the EZ crisis remains severe."

12:18
Orders

 

GBP/USD

 

Offers $1.5830/35,  $1.5800, $1.5780, $1.5750

Bids $1.5695/90, $1.5680, $1.5665/60, $1.5600/590

 

EUR/USD  

Offers $1.3600/15, $1.3570

Bids $1.3400, $1.3370/60, $1.3335/25

 

11:55
Tech on USD/JPY

Resistance 3: Y79.00 (Nov 1 high)

Resistance 2: Y78.30 (Nov 4, 28-29 high)

Resistance 1: Y77.75 (session high)

Current price: Y77.68

Support 1:Y77.60 (support line from Nov 30)

Support 2:Y77.30 (Nov 30 low) 

Support 3:Y77.00 (Nov 24 low)


 

11:49
Tech on USD/CHF

Resistance 2: Chf0.9250 (Nov 29-30 high)

Resistance 3: Chf0.9190 (МА (200) for Н1)

Resistance 1: Chf0.9150 (session high)

Current price: Chf0.9102

Support 1: Chf0.9080 (session low)

Support 2: Chf0.9060 (Nov 30 low)

Support 3: Chf0.9040 (38,2 % FIBO Chf0,8570-Chf0,9330)


 

11:42
Tech on GBP/USD

Resistance 3: $ 1.5830 (61,8 % FIBO $1,6090-$ 1.5420)

Resistance 2: $ 1.5780 (Nov 30 high)

Resistance 1: $ 1.5745   (session high)

Current price: $1.5706

Support 1 : $1.5670 (support line from Nov 30)

Support 2 : $1.5630 (session low)

Support 3 : $1.5580 (МА (200) for Н1)

 

11:34
Tech on EUR/USD

Resistance 3: $ 1.3570 (Nov 22 high)

Resistance 2: $ 1.3530 (Nov 30 high)

Resistance 1: $ 1.3500 (area of session high)

Current price: $1.3474 

Support 1 : $1.3415 (session low)

Support 2 : $1.3390 (area of МА (200) for Н1 and 50,0 % FIBO of yesterday's falling)

Support 3 : $1.3360 (61,8 % FIBO of yesterday's falling)


 

11:23
BOE King: “Current situation is extraordinarily serious”

  • Central Bank swap deals can't solve underlying woes;
  • capital buffers can be run down if problems persist;
  • this is not time to raise capital ratios;
  • shouldn't exaggerate problems facing UK banks;
  • spiral is characteristic of systemic crisis.

11:23
BOE King: “Current situation is extraordinarily serious”

  • Central Bank swap deals can't solve underlying woes;
  • capital buffers can be run down if problems persist;
  • this is not time to raise capital ratios;
  • shouldn't exaggerate problems facing UK banks;
  • spiral is characteristic of systemic crisis.

11:15
France auctin results

Sold E4.346bn OATs vs target E3.0bn-E4.5bn
E595mn of 4.25% 2017 OAT;avg yield 2.42%, cover 4.40
E1.571bn of 3.25% 2021 OAT;avg yield 3.18%,cover 3.05.
E1.1bn of 3.50% 2026 OAT;avg yield 3.65%, cover 4.40.
E1.08bn of 4.50% 2041 OAT;avg yield 3.94%, cover 2.26.

10:31
Goldman Sees:

Pound At $1.73 In 12 Months

Euro At $1.45 In 12 Months

Brent Oil Price At $130/Bbl In 2013

10:14
Option expiries for today's 1500GMT cut:

 

EUR/USD $1.3310, $1.3350, $1.3400, $1.3500, $1.3700
USD/JPY Y76.55, Y77.50, Y77.90, Y78.75
AUD/USD $0.9950, $1.0000, $1.0300 
EUR/JPY Y103.00
GBP/USD $1.5655, $1.5635, $1.5600, $1.5500, $1.5490
EUR/CHF Chf1.2300

 

09:52
ECB DRAGHI: Notable progress achieved in EMU governance

Reforms, news govts had little effect on mkts so far

Confident new surveillance will restore confidence

Far reaching Treaty changes should not be discarded

Need long-term vision to restore short-term confidence

ECB monetary policy is guided by price stability

Financial markets have intensified again

Downside risks to economic outlook have increased

Dysfuntional bond markets hamper monetary policy

Impaired monpol transmission mechanism hits credit

Non-standard measures can only be limited

Govts must restore their credibility

09:51
ECB DRAGHI: Notable progress achieved in EMU governance

Reforms, news govts had little effect on mkts so far

Confident new surveillance will restore confidence

Far reaching Treaty changes should not be discarded

Need long-term vision to restore short-term confidence

ECB monetary policy is guided by price stability

Financial markets have intensified again

Downside risks to economic outlook have increased

Dysfuntional bond markets hamper monetary policy

Impaired monpol transmission mechanism hits credit

Non-standard measures can only be limited

Govts must restore their credibility

09:40
Asia Pacific stocks close:

Nikkei 225 8,597 +162.77 +1.93%

Hang Seng 19,002 +1,012.91 +5.63%

S&P/ASX 4,229 +108.83 +2.64%

Shanghai Composite 2,387 +53.45 +2.29%

09:28
UK: purchasing manager index manufacturing, November 47.6 (predictable 47.2)
09:19
Asian session: gains in the euro were limited

00:30 Australia Building Permits, m/m October -10.7%
00:30 Australia Building Permits, y/y October -29.8%
00:30 Australia Retail sales (MoM) October +0.2%
00:30 Australia Retail Sales Y/Y October +2.8%
01:00 China Manufacturing PMI November 49.0
02:30 China HSBC Manufacturing PMI November 47.7
05:30 Australia Commodity Prices, Y/Y November +18.1%

Australia’s dollar dropped against all of its peers after the country’s statistics bureau said the number of permits granted to build or renovate houses and apartments fell 10.7 percent in October after dropping a revised 14.2 percent the previous month. Retail sales climbed 0.2 percent from a month earlier, when they rose 0.4 percent. China’s Purchasing Managers’ Index fell to 49.0 in November from 50.4 in October, the China Federation of Logistics and Purchasing said today. The median estimate in a Bloomberg survey of 18 economists was 49.8. A level above 50 indicates expansion.

Gains in the euro were limited before Spain and France sell securities amid concern Europe’s debt crisis will boost borrowing costs for the region’s nations. Spain will sell as much as 3.75 billion euros ($5 billion) of debt today maturing in 2015, 2016 and 2017. France will offer bonds maturing in 2017, 2021, 2026 and 2041 and may auction up to 4.5 billion euros of securities.

The Federal Reserve-led global effort to ease borrowing costs for financial firms shows both the central bank’s power to jolt markets -- and the limits of its ability to alleviate the European debt crisis. Stocks rallied worldwide, commodities rose and yields on most European debt fell after the Fed and five other central banks yesterday cut the cost of emergency dollar loans to banks outside the U.S. At the same time, the action falls short of more-drastic moves that central banks are reluctant to take, including purchases or guarantees of countries’ bonds.


EUR/USD: on Asian session the pair grew, but has fallen later.

GBP/USD: on Asian session the pair decreases.

USD/JPY: on Asian session  the pair gain.


European events for Thursday start at 0800GMT when ECB President Mario Draghi is due to present the ECB Annual Report at the

European Parliament Plenary. This morning also sees the release of the manufacturing PMIs from the main European states, including final data from France at 0848GMT, Germany at 0853GMT and leading up to the 0858GMT of the EMU final manufacturing PMI. European data also includes France car registrations at 1100GMT. As well as the BOE Financial Policy Committee note, UK data sees the 0928GMT release of the November Markit/CIPS Manufacturing PMI UK manufacturing is expected to contract in the fourth quarter, with the pace of contraction in November expected to more or less match that in October with a median forecast for today's data of 47. US data at 1330GMT, the weekly initial jobless claims are expected to fall 3,000 to 390,000 in the November 26 week. Also at 1500GMT the ISM manufacturing index is expected to rise to a reading of 52.0 in November after falling slightly in October. The regional data already released suggest only modest growth.

08:59
EU: purchasing manager index manufacturing, November 46.4 (predictable 46.4)
08:53
GERMANY: purchasing manager index manufacturing, November 47.9 (predictable 47.9)
08:48
FRANCE: manufacturing PMI, November 47.3 (predictable 47.6)
08:40
Forex: Wednesday’s review

The euro gained the most in a month against the dollar after the Federal Reserve and five other central banks acted to make more funds available to lenders as Europe’s debt crisis threatens global economic growth. The central banks agreed to reduce the interest rate on dollar liquidity swap lines and extend their authorization through Feb. 1, 2013. The rate was cut to the dollar overnight index swap rate plus 50 basis points, or half a percentage point, from 100 basis points, the Fed said in a statement in Washington. The Bank of Canada, Bank of England, Bank of Japan, European Central Bank and Swiss National Bank are part of the coordinated move, the Fed said.

Europe’s shared currency weakened earlier after euro-area finance ministers conceded efforts to expand their bailout fund missed the target and said they would seek a greater role for the International Monetary Fund. All 27 European Union finance ministers meet today with a goal of agreeing on how to temporarily guarantee banks’ bond issuance to improve funding conditions for lending. European heads of government meet on Dec. 9 in Brussels, with Germany pushing for governance changes that would tighten enforcement of budget rules.

The dollar and yen slid earlier today as China cut the amount of cash banks must set aside as reserves to spur growth, damping demand for safer assets. The People’s Bank of China said reserve ratios will decline by 50 basis points effective Dec. 5, the first reduction since 2008.

Canada’s dollar rose after the nation’s economy grew at a 3.5 percent annualized pace in the third quarter, beating the 3 percent expansion forecast in a Bloomberg News survey.


EUR/USD: yesterday the pair has grown on a figure.

GBP/USD: yesterday the pair has grown on a figure.

USD/JPY: yesterday the pair fell updated week’s low.                                


European events for Thursday start at 0800GMT when ECB President Mario Draghi is due to present the ECB Annual Report at the

European Parliament Plenary. This morning also sees the release of the manufacturing PMIs from the main European states, including final data from France at 0848GMT, Germany at 0853GMT and leading up to the 0858GMT of the EMU final manufacturing PMI. European data also includes France car registrations at 1100GMT. As well as the BOE Financial Policy Committee note, UK data sees the 0928GMT release of the November Markit/CIPS Manufacturing PMI UK manufacturing is expected to contract in the fourth quarter, with the pace of contraction in November expected to more or less match that in October with a median forecast for today's data of 47. US data at 1330GMT, the weekly initial jobless claims are expected to fall 3,000 to 390,000 in the November 26 week. Also at 1500GMT the ISM manufacturing index is expected to rise to a reading of 52.0 in November after falling slightly in October. The regional data already released suggest only modest growth.

08:33
SWITZERLAND: SVME PMI, November 44.8 (predictable 46.7)
08:03
Stocks: Wednesday’s review

Asian stocks fell after Standard & Poor’s reduced credit ratings for lenders including Bank of America Corp., Goldman Sachs Group Inc. and Citigroup Inc. as Europe’s debt crisis cuts the global earnings outlook.

Declines in the region accelerated after Xia Bin, China’s central bank adviser and researcher at the State Council’s Development Research Center, said restructuring of its economy will depend on fiscal policy rather than on a loosening of monetary policies. Inflation is still on a “mild upward” trend due to rising labor costs and resource prices, he said.

Japan’s Nikkei 225 Stock Average (NKY) fell 0.5 percent even after industrial production increased more than analysts expected in October.

Australia’s S&P/ASX 200 index rose 0.4 percent. Hong Kong’s Hang Seng Index fell 1.5 percent, falling 9.4 percent for the month and set to become the second-worst monthly performer in Asia after the benchmark index in Vietnam.

Japanese power producers Hokuriku Electric Power Co. increased 3.6 percent to 1,368 yen, Chugoku Electric Power Co. rose 3.1 percent to 1,309 yen and Kansai Electric Power Co. advanced 2.1 percent to 1,144 yen in Tokyo.

Sumitomo Mitsui dropped 1 percent to 2,089 yen in Tokyo, while HSBC Holdings Plc, a lender that gets about a fifth of its revenue from North America, retreated 2.1 percent to HK$57.45 in Hong Kong. China Construction Bank Corp. and Bank of China Ltd., the nation’s No. 2 and No. 3 lenders, were upgraded to A from A-, joining Industrial & Commercial Bank of China Ltd., the world’s biggest bank by market value, on higher ratings than their U.S. rivals.

Chipmakers fell after Digitimes said contract prices for dynamic random-access memory, the most common chip in computers, dropped almost 8 percent in second half of this month due to sluggish demand. The report cited industry sources in Taiwan.

Nanya Technology sank 6.7 percent to NT$2.36 while Powerchip Technology Corp., a maker of DRAM chips, declined 6.3 percent to NT$1.05 in Taipei. Elpida Memory Inc., a memory-chip maker, dropped 5.6 percent to 368 yen in Tokyo.

BlueScope Steel Ltd., Australia’s biggest steelmaker, fell 3.8 percent today and dropped 47 percent for the month, the steepest in the MSCI Asia Pacific Index, after saying last week it plans to sell new shares at a 34 percent discount to raise money for debt repayment.


European stocks jumped, posting their biggest four-day rally since November 2008, as the Federal Reserve and five other central banks lowered the cost of dollar funding and China cut its reserve ratio for banks.

The Fed, Bank of Canada, Bank of England, Bank of Japan, European Central Bank and Swiss National Bank agreed to reduce the interest rate on dollar liquidity swap lines by 50 basis points and extend their authorization through Feb. 1, 2013.

China said it will cut the reserve requirement ratio for banks by 0.5 percentage points from Dec. 5.

Finance ministers of the 27-nation European Union are meeting in Brussels today to seek agreement on how to temporarily guarantee banks’ bond issuance in order to improve funding conditions for lending. EU leaders agreed last month to provide the guarantees to restore investor confidence in banks.

National benchmark equity indexes advanced in every western-European market except Iceland. The U.K.’s FTSE 100 Index increased 3.2 percent, France’s CAC 40 Index jumped 4.2 percent and Germany’s DAX Index surged 5 percent.

A gauge of European banks, which had earlier declined on S&P rating cuts, jumped 4.4 percent. Barclays, Britain’s second- largest lender by assets, surged 6.7 percent to 180.25 pence. Deutsche Bank, Germany’s biggest bank, soared 6.2 percent to 28.62 pence. Lloyds Banking Group Plc jumped 7.1 percent to 24.83 pence.

BHP advanced 6.2 percent to 1,949 pence. Rio Tinto Group, the world’s second-biggest mining company, climbed 6.4 percent to 3,339 pence. Xstrata Plc jumped 6.5 percent to 1,017 pence. A gauge of mining shares rose 6 percent for the best performance in the Stoxx 600.

BP rose 5 percent to 460.75 pence for the largest contribution to the Stoxx 600 index’s advance.

Grifols SA increased 5.4 percent to 12.01 euros for the biggest jump this year. The stock was rated “buy” in new coverage at Deutsche Bank AG.


U.S. stocks advanced, driving the Dow Jones Industrial Average up the most since March 2009, after six central banks took action on Europe’s debt crisis by making it cheaper for lenders to borrow in dollars.

American stocks joined a global rally. The central banks of the U.S., the euro region, Canada, the U.K., Japan and Switzerland agreed to cut the cost of providing dollar funding via swap arrangements, the Federal Reserve said, and agreed to make other currencies available as needed. China cut the amount of cash that banks must set aside as reserves for the first time since 2008.

In the U.S., companies boosted payrolls in November by the most this year and U.S. businesses expanded at the fastest pace in seven months. Another report showed the biggest gain in home- purchase contract signings in a year. The Fed said the economy expanded at a “moderate” pace in 11 of its 12 districts, led by gains in manufacturing and consumer spending, according to its Beige Book survey released today covering October and the first half of November.

Dow 12,045.68 +490.05 +4.24%, Nasdaq 2,620.34 +104.83 +4.17%, S&P 500 1,246.96 +51.77 +4.33%

Today, JPMorgan added 8.4 percent, the most in the Dow, to $30.97. Bank of America gained 7.3 percent to $5.44. Citigroup rose 8.9 percent to $27.48.

Caterpillar, the world’s largest construction and mining- equipment maker, rose 8.1 percent to $97.88. U.S. Steel surged 15 percent to $27.30. PulteGroup Inc. jumped 8 percent to $6.11, pacing gains in homebuilders.

American Airlines parent AMR Corp. increased 23 percent to 32 cents. The shares tumbled 84 percent yesterday after the company announced a bankruptcy filing.

Cisco Systems Inc. (CSCO) gained 5.4 percent to $18.64. Deutsche Bank AG recommended buying the world’s biggest maker of networking equipment, saying checks suggest datacenter information technology rollouts remain “robust.”

‘At All Costs’

Netflix Inc. slumped 4.5 percent to $64.53. The video- streaming and DVD subscription service was cut to “underperform” from “neutral” at Wedbush Securities Inc., citing rising content costs, continued customer losses and concern about the company’s “growth at all costs business model.”

07:43
Tech on USD/JPY

Resistance 3: Y79.00 (Nov 1 high)

Resistance 2: Y78.30 (Nov 29 high)

Resistance 1: Y77.95 (middle line from Nov 18)

The current price: Y77.70

Support 1: Y77.45 (support line from Nov 29)

Support 2: Y77.00 (Nov 24 low)

Support 3: Y76.55 (Nov 18 low)


Comments: the pair is on uptrend. In focus resistance Y77.95.

07:20
Tech on USD/CHF

Resistance 3: Chf0.9225 (61.8% FIBO Chf0.9065-Chf0.9330)

Resistance 2: Chf0.9195 (50.0% FIBO Chf0.9065-Chf0.9330)

Resistance 1: Chf0.9150 (session high)

The current price: Chf0.9140

Support 1: Chf0.9105 (Nov 22 low)

Support 2: Chf0.9065 (Nov 30 low)

Support 3: Chf0.9020 (Nov 10 low)


Comments: the pair is on downtrend. In focus support Chf0.9105.

07:02
Tech on GBP/USD

Resistance 3 : $1.5930 (Nov 15 high)

Resistance 2 : $1.5885 (Nov 18 high)

Resistance 1 : $1.5780 (Nov 30 high, resistance line from Nov 25)

The current price: $1.5695

Support 1 : $1.5670 (session low)

Support 2 : $1.5600 (50.0% FIBO $1.5420-$1.5780)

Support 3 : $1.5560 (61.8% FIBO $1.5420-$1.5780)


Comments: the pair is on uptrend. In focus resistance $1.5780.

06:59
Tech on EUR/USD

Resistance 3: $1.3570 (Nov 22 high)

Resistance 2: $1.3530 (resistance line from Nov 25, Nov 30 high)

Resistance 1: $1.3480 (high of the European session on Nov 23)

The current price: $1.3464

Support 1 : $1.3430 (session low)

Support 2 : $1.3395 (50.0% FIBO $1.3530-$1.3255)

Support 3 : $1.3360 (61.8% FIBO $1.3530-$1.3255)


Comments: the pair is on uptrend. In focus resistance $1.3480.

06:45
SWITZERLAND: gross domestic product, Quarter III +0.2% q/q, +1.3% y/y (predictable +0.2% q/q, +1.8% y/y)
06:20
Daily history for Nov 30'2011:

Change % Change Last

 

Nikkei 225 8,435 -43.21 -0.51%

Hang Seng 17,989 -266.85 -1.46%

S&P/ASX 200 4,120 +17.71 +0.43%

Shanghai Composite 2,333 -78.98 -3.27%

FTSE 100 5,505 +168.42 +3.16%

CAC 40 3,155 +127.86 +4.22%

DAX 6,089 +288.93 +4.98%

Dow 12,045.68 +490.05 +4.24%

Nasdaq 2,620.34 +104.83 +4.17%

S&P 500 1,246.96 +51.77 +4.33%

10 Year Yield 2.07% +0.07 --

Oil $100.23 -0.13 -0.13%

Gold $1,746.80 +1.30 +0.07%

06:02
Schedule for today, Thursday, Dec 1'2011:

00:30 Australia Building Permits, m/m October -13.6% +3.6%

00:30 Australia Building Permits, y/y October -12.0% -14.4%

00:30 Australia Retail sales (MoM) October +0.4% +0.4%

00:30 Australia Retail Sales Y/Y October +2.4%

01:00 China Manufacturing PMI November 50.4 49.8

02:30 China HSBC Manufacturing PMI November 48.0

05:30 Australia Commodity Prices, Y/Y November +19.4%

06:45 Switzerland Gross Domestic Product (QoQ) Quarter III +0.4% +0.2%

06:45 Switzerland Gross Domestic Product (YoY) Quarter III +2.3% +1.8%

08:00 United Kingdom Halifax house price index November +1.2%

08:00 United Kingdom Halifax house price index 3m Y/Y November -1.8%

08:00 Eurozone ECB President Mario Draghi Speaks 0

08:30 Switzerland SVME PMI November 46.9 46.7

08:50 France Manufacturing PMI November 48.5 47.6

08:55 Germany Purchasing Manager Index Manufacturing November 49.1 47.9

09:00 Eurozone Purchasing Manager Index Manufacturing November 47.1 46.4

09:30 United Kingdom Purchasing Manager Index Manufacturing November 47.4 47.2

13:30 U.S. Initial Jobless Claims неделя по 25 ноября 393 390

15:00 U.S. ISM Manufacturing November 50.8 51.6

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