Aussie Weekly Close Suggests Higher Markets to Follow
The Australian Dollar finished the week sharply higher. The Aussie got a boost early in the week when the Reserve Bank of Australia announced that interest rates would remain unchanged this month but that the policymakers will not hesitate to raise rates despite concerns over growth prospects in China.
U.S. stocks rallied initially after the release of the U.S. jobs report but this may have been because traders priced in a worse than expected private-sector hiring figure. Nonetheless, the private-sector number missed the consensus so this short-fall is likely to lead to selling pressure at some point during the trading session.
U.S. equity markets retreated from their earlier highs as investors failed to chase stocks higher after a surge overnight in Europe and Asia led to a stronger opening in New York. Global equity markets were boosted overnight by the news that China was going to let the Yuan float higher. Technology stocks were hardest hit leading to a lower close in the September E-mini NASDAQ.
Risk Appetite Returns Sending Equity Markets Higher
U.S. equity markets are trading higher overnight as investors are buying on speculation that government reports this week will show the global economic recovery is back on tract. Easing of tensions in Europe is triggering a short-covering rally in the Euro which is helping to lead to increased demand for higher risk assets.
U.S. Stock Markets Erase Earlier Weakness; Set to Open Flat to Better
Although U.S. equity markets have recovered their overnight losses, the fundamentals which influenced the market on Friday are likely to have a lingering affect on the stock markets today. Traders will be looking for bargains today and will be largely influenced by the action in the Euro especially since this currency has reached an extremely oversold condition.
Pre-Report Profit-Taking Drives U.S. Equity Markets Lower
U.S. Equities Holding Steady Overnight; Retracement Zones Underpin Markets
U.S. equity markets tried to mount a strong comeback rally on Tuesday but fell apart into the close. Early in the session stock indices made a recovery from their lows, boosted by bottom-picker demand and driven higher by better than expected U.S. manufacturing data. For a while it looked as if U.S.
Spain Concerns, War Threat put Global Markets under Pressure
Global equity markets fell sharply lower overnight on renewed fears in the Euro Zone and rising tensions between North Korea and South Korea. The sell-off started early when Asian traders began liquidating equities on war concerns between the Korean nations and quickly spread to Europe and the U.S. as these two regions continued to struggle with the spreading debt issues in the Euro Zone.
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Major sell off again this last week with some significant levels of support being broken by all three major markets. The 200 day Moving average was broken this week, and although we had some positive turn of events on Friday, the question remains, was it enough to turn the tide of the bearish downdraft.