Wednesday 27 June 2012

Market update 28 June 2012

Market update 28 June 2012


·     Risk appetite made a surpriseappearance overnight amid the chaos in Europe as USstocks ended a 4 day losing streak overnight as data out of the USbuoyed sentiment despite lingering concerns over a lack of agreement between EUleaders.

·     Durable goods orders was first upand showed a rise of 1.1%, beating expectations andflying in the face of the recent manufacturing surveys suggesting slowing.

·     Then pending home saleswhich rose by the most this year, 5.9% on the month, which added toother recent housing data pointing to sure signs of life in the sector.

·     The S&P closed 0.9%higher, while the DOW put on 0.74%, oil and gas stocks led the waywith oil retaking $80, closing up 85c at $80.21.

·     In Europe equities werestronger, the broad Euro STOXX index up 1.77%.

·     Also helping risk assets along was an article from the China Securities Journal saying the country may introduce“more proactive” policies to ensure stable growth.
 
·      USDMYR opened just a tad lower at 3.1860-3.1920 as we expect yet another quiet session and very rangetrade for the day

No comments:

Post a Comment