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Forex Exchange Morning Report

Fundamental Analysis — Wed, 30 Jun 2010 02:17:30 +0000

The risk aversion prevailing since 21 June accelerated during a vicious day of selling in global equity markets, affecting the other asset classes. China's 4.3% fall in the Shanghai composite index was cited as a catalyst for the acceleration phase, the Eurostoxx 50 closing 4.2% down, and the S&P500 currently

The Week Ahead

Wachovia Corporation — Sat, 15 May 2010 05:43:33 +0000

The Euro's rebound following the announcement of the EU rescue package proved exceptionally short-lived. Markets immediately smelled blood and added to EUR shorts, driving EUR/USD below additional key technical levels, most notably the 1.2450/1.2500 2009 lows, which now serves as the critical daily closing resistance zone. However, the past week's decline came up short of the 2008 lows at 1.2330 and this level will act as the next trigger to further declines. In the midst of this EUR weakness, we are starting to get the feeling that Euro-bearishness is reaching extreme levels. That does not mean that the EUR won't see lower in the week ahead; in fact we anticipate further declines to the 1.2150/1.2200 area in the short-run (based on an Elliot Wave count), but from there the likelihood of a base/correction forming increases greatly.

Indifferent session after recent rally

News Feed — Fri, 19 Mar 2010 13:46:15 +0000

HONG Kong’s weakness probably played a pivotal role in yesterday’s 5.36-point loss in the Straits Times Index to 2,913.94, although just as important was the fact that the index had already shot up by 130 points since closing at 2,790 on March 5. A third factor was Europe’s soft opening across all markets, suggesting that expectations were for a weak Thursday on Wall Street.
Genting Singapore was … more

This Week’s Market Outlook

News Feed — Thu, 31 Dec 2009 16:46:00 +0000

The USD has seen its correction extend further this past week, but critical resistance levels (EUR/USD support levels) we highlighted in last week’s issue appear to be exerting some influence. The 1.4250 level has held as support on a daily closing basis thus far, and the more significant 1.4170/90 area…

Optimism, new contracts boost STI

News Feed — Tue, 24 Nov 2009 17:21:22 +0000

STOCKS here started the holiday-shortened week on a bullish note yesterday, propelled by major contract wins at some firms and renewed optimism for the economic recovery boosting banks and commodities-related stocks.

The Straits Times Index (STI) finished 36.34 points or 1.3 per cent higher at 2,797.88, the highest closing level since Aug 14 last year.

Elsewhere in Asia-Pacific yesterday, othe… more

STI rises 14 points in sombre session

News Feed — Fri, 20 Nov 2009 05:07:45 +0000

A PUSH on the three banks in relatively thin volume initially helped send the Straits Times Index up 40 points to 2,785 yesterday but afternoon concerns triggered by a firming US dollar and the associated worry over how Wall Street might react brought the index down to 2,758.79 for a closing gain of just 13.75 points.
Excluding the STI components and derivatives, there were 215 falls versus 144 ri… more