ZuluTrade Blog

Australian dollar dropped to a three-week low after the central bank cut interest rates...

Market View | Tuesday, October 2, 2012 3:25 AM GMT

        Good Morning


§  Asian stocks and regional currencies rose after U.S. manufacturing beat estimates, bolstering investor appetite for higher-yielding assets. The Australian dollar dropped to a three-week low after the central bank cut interest rates to the lowest level since 2009.The euro edged higher and held above a three-week low against the dollar on Tuesday, but its outlook was clouded by concerns over Spain's fiscal woes and uncertainty over the timing of a possible aid request by Madrid


§  RBA cut it's cash rate buy 25 bps to 3.25%


§  ECB Asmussen repeats go slow on EU banking union


§  World Bank Basu - Europe crisis effects could linger - Wall Street Journal


§  Prime Minister Pedro Passos Coelho’s tax increases during Portugal’s two-year recession may be about to backfire. Coelho said last week that income taxes probably will climb after he scrapped a proposal to raise the social-security tax rate. The CGTP labor group said Sept. 29 at a demonstration against austerity policies in central Lisbon that it may call a general strike. Portugal already has Western Europe’s poorest population in terms of output per capita.


§  Spain’s banks face a capital shortfall that could climb to 105 billion EUR, almost double the estimate the government provided last week, according to Moody’s Investors Service.


§  Fitch: Spain's latest policy are net neutral for its debt rating


§  Spain ready for bailout, Germany signals to wait.


§  Troika/Greek talks to continue on govt's proposed Eur13.5B budget cuts


§  UK manufacturing and service sector weakened considerably in Q3- BBC


§  Federal Reserve Chairman Ben Bernanke delivered a broad defense of the U.S. central bank’s controversial bond-buying stimulus plan, saying it is necessary to support a flagging economic recovery. Bernanke pushed back against accusations that the Fed’s policy is laying the groundwork for inflation, enabling the government to run large budget deficits, undercutting the dollar and hurting savers. He also said ECB has taken steps to buy time for solving the crisis and watching Europe closely as it poses downside risk for US


§  Japan Sep monetary base +9.0% y/y to Y124.326 trln.


§  Japan Aug overtime pay +2.7%y/y, total cash earnings +0.2%


§  S&P - Japan growth to slow as reconstruction boost fades


§  Speculators may test new finance minister on JPY intervention – Nikkei


§  Newly appointed Japanese Finance Minister Koriki Jojima sounded a cautious note on the idea of the Bank of Japan's buying foreign bonds as a method of future monetary easing. "From the standpoint of the current BOJ Law, careful consideration would be needed," he told a news conference after a cabinet meeting


§  South Korea central bank switches tack to encourage growth



UK Nationwide house price mm and yy


UK markit/CIPS consumer PMI


EZ producer prices mm and yy


US ISM New York index


Have a nice day !

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.