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We hope we can provide some insight to how the markets are all interconnected and the cause and effect of daily price fluctuations. We believe our analysis is unbiased in nature and can show you the underlying message of each security and the likely direction that it will follow.
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Thursday, 13 December 2012

European Market Update

A relatively uninteresting range day across most of Europe with a small sell-off in the early trade before Buying the dip after decent US data.
  • Unemployment claims - Actual 343K // Estimate 369K
  • Retail Sales - Actual 0.3% // Estimate 0.5%
  • SNB - Holding 1.20 Peg saying "it is prepared to buy unlimited quantities of foreign currency to enforce this".

Market Performance 

Forex:
EURUSD - 1.3097 +0.18%
AUDUSD - 1.0550 -0.01%
GBPUSD - 1.6136 -0.06%

Credit:
US 10Y - 1.74% +4 bps
DE 10Y - 1.365% +2.6 bps
GB 10Y - 1.977% +5.8 bps
ES 10Y - 5.4% +7 bps
IT10 Y - 4.63% +5 bps

Equity:
E-mini S&P500 - 1430.00 +0.2%
FDAX - 7603.50 +0.1%
FTSE futures 5936.50 -0.1%

Gold - $1699 -1.1%
Silver - $32.65 -3.35%

Here is an update of yesterday's chart, ES and AUD have yet to converge but it's getting close.
ES vs AUDUSD. Thomson Reuters




FTSEMIB (red/LHS) IBEX (orange/RHS). Thomson Reuters


Spanish and Italian stocks had a particularly good day with the FTSEMIB up 0.85% 

Its up nearly 5.5% since Monday morning










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