Daily Market Outlook by ForexTactics

[murdaniel]

Global Exchanges

US Markets

US stock exchanges retreated yesterday, with the Dow Jones Industrial Average registering its biggest decline since June, amid poor results at companies from 3M Co. to DuPont Co. and as commodities erased their gains for the year. The Dow Jones slid 243 points, or 1.82%, to close at 13,103. The Standard & Poor's 500 Index fell 21 points, or 1.44%, to 1,413. The Nasdaq Composite Index dropped 26 points, or 0.88%, to end at 2,990.

European Markets

Yesterday, started badly on European markets after Moody’s downgraded its ratings on the debt of five Spanish regions. In addition, Spanish newspaper El Confidencial reported that the government has told the European Union that it will miss its budget deficit target this year. The country’s borrowing costs rose as a result, with the yield on 10-year government bonds climbing back above 5.6%. The FTSE 100 extended its losses into a third day, down 90 points or 1.5% to 5,791. Benchmark indices in Germany, France, Spain and Italy were all off by more than 2%.

Asian Markets

Japanese stocks swung between gains and losses on concern the global economic slowdown is crimping earnings and as commodities erased this year’s gains, while a purchasing managers’ index signaled that contraction in China’s manufacturing may have moderated.
The Nikkei 225 was little changed at 9,010.80 in Tokyo, paring losses of 1.3 percent. The Topix slid 0.2 percent to 747.63, with nine shares declining for every five that gained.
More Japanese companies are likely to cut earnings forecasts, dragged down by overseas demand as the U.S. and Chinese economies slow the decline in commodities may indicate investors are no longer expecting stimulus policies, and this is weighing on stock markets. The Topix rose 4.2 percent through yesterday from Sept. 6, as the European Central Bank, the U.S. Federal Reserve and the Bank of Japan added stimulus to boost growth

 

[murdaniel]

Forex Market Outlook

Euro Dollar

The euro remained lower against its major counterparts amid signs the region’s debt crisis is hampering growth in its biggest economies. The dollar gained versus the euro as the Federal Reserve maintained asset-purchase programs without suggesting its closer to boosting stimulus, reducing concern additional measures will debase the currency.

The Great British Pound

The GBP/USD kept rising on Wednesday as the market anticipates today's UK GDP and PMI data after the BoE's King speech pointing to the economic indicators outcome as decisive in regard to the November MPC meeting. The pair has already reached 1.6045 high after conquering the 1.6000 psychological level and being more than 100 pips above the daily low, at 1.5936, obtained during the Asian session.

Asian Currencies

The yen weakened against all its major counterparts as stocks rose and investors speculated that the Bank of Japan will expand monetary stimulus next week. The market is pricing in additional easing by the BOJ next week. Should the BOJ ease after its counterparts in the U.S. and Europe held off on additional stimulus, that would be received well by the market and cause a yen sell-off. Japan’s currency fell 0.2 percent to 79.95 per dollar nearing the three-month low of 80.01 reached on Oct. 23. It dropped 0.2 percent to 103.76 per euro.

 

[murdaniel]

Global Exchanges

US Markets

Wall Street eked out small gains on Thursday in another uninspiring session on Wall Street, with worries about weak business spending keeping investors wary. Apple Inc, the most valuable public company in the United States, posted quarterly earnings that fell short of expectations. Apple's earnings per share came in at $8.67, compared with Wall Street's estimate for $8.75 a share.

European Markets

European stocks edged higher on Thursday led by miners after China said factory output was set to accelerate, but profit warnings hit WPP and Daimler. The FTSEurofirst was up 3.26 points, or 0.3 percent at 1,096.86, as shares stabilized after sharp losses on Tuesday. The index has been trading in a tight 30-point range since early September with recent stimulus action by central banks capping the downside while fragile global economic growth has curbed upside momentum.

Asian Markets

Asian stocks are mixed to flat except for the Nikkei 225 Stock Average paring a third-monthly advance, after the yen strengthened from a four-month low and companies including Canon Inc. reported disappointing earnings.
The Nikkei 225 fell 0.9 percent to 8,969.81 in Tokyo, heading for a weekly drop of 0.4 percent. The broader Topix (TPX) Index slid 1 percent to 743.93 after rising as much as 0.2 percent. The nation’s central bank will open a policy meeting on Oct. 30.

 

[Robert]

Please provide us with trading recommendations that will be applicable for the current session. If none are issued today please do so Monday. I look forward to them

 

[FxMasterAtwork]

EURUSD Agree I think Long tomorrow. We could see some big players went onto the train at 1.2880 last Friday. We will see and wait for further rumors where is the barrier. I think we can see 1.3000/1.3030 soon.

 

[murdaniel]

i have opened another Thread called ForexTactics Tips, please see there tips for the current days

All the best !!
ForexTactics

 

[murdaniel]

Global Exchanges

US Markets

US stocks closed mostly lower yesterday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the US economy in the third quarter. The Dow Jones industrial average managed a gain of 3.53 points to close at 13,107.21 after spending much of the day in the red.
The Standard & Poor’s 500 index fell 1.03 points to 1,411.94 and the Nasdaq composite rose 1.83 points to 2,987.95. Stocks rose in the morning before a mild midday sell-off, and then recovered somewhat in the afternoon. The morning gains came after the Commerce Department estimated that the US economy expanded at a two per cent annual rate from July through September.

European Markets

European shares eked out small gains on Friday after better-than-expected US economic growth figures helped outweigh the impact on investor sentiment of yet more gloomy corporate outlooks. The FTSEurofirst 300 provisionally closed up 0.2 percent at 1,097.94, after a choppy session that had initially been weighed by fresh concerns over the outlook for regional corporates. Spain said its unemployment rate had reached 25 percent for the first time, traders said. London's FTSE 100 index of top companies fell by 0.86 percent to stand at 5,804.94 points in early afternoon deals.
Frankfurt's DAX 30 slipped 0.58 percent to 7,158.49 points and in Paris the CAC 40 lost 0.50 percent to 3,394.34. Madrid's IBEX 35 tumbled 1.10 percent to 7,693.50 points.

Asian Markets

Asian markets were lower on Friday as dealers looked ahead to the release later in the day of US economic growth figures, while Hong Kong eased on profit-taking after posting 10 straight days of gains. The Nikkei was also hit as the dollar eased back after hitting four-month highs against the yen, which has come under pressure owing to expectations for fresh monetary easing by the Bank of Japan and upbeat US data.
Tokyo fell 1.35 percent, or 122.14 points, to 8,933.06 and Sydney closed 0.84 percent, or 38.1 points lower at 4,472.4.Hong Kong slipped 1.21 percent, or 264.66 points, to 21,545.57, bringing an end to a run that had been fuelled by huge inflows of foreign cash. Shanghai tumbled 1.68 percent, or 35.57 points, to 2,066.21 with weak Chinese corporate earnings dragging on mainland sentiment. Seoul lost 1.72 percent, or 33.07 points, to close at 1,891.43 after data showed South Korea's economy grew in the third quarter at its slowest pace in three years.