08/10/2013

Good morning,

The trading week did not start well in US. The S&P lost  -14.38 points at 1676.12 (-0.85%), Nasdaq  closed on its daily low at 3770 (-0.98%) and lost -37.38 points. The Dow index closed with minus sign as well below 15000 level at 14936.24 (-0.90%) and lost  -136,34 points.  US President  Barack Obama does not want to get in a discussion that links the Affordable Care Act with the opening of the Government or the Debt Ceiling debate. A US default would be catastrophic but the financial community is pricing assets considering that a last minute deal would happen.  In Asia the MSCI Asia Pacific Index rose 0.3%. The Nikkei index gained +41.29 points to 13894.6 (+0.30%) and in Hong Kong the Hang Seng rose +220.28 or (0.96%) to 23194.2.  In Europe at 7:26 GMT  the DAX index is flat at 8593 (+0.05%) and the same situation is in UK for the FTSE100 (-0.03%) at 6429.4. The macro data released regarding Germany (Trade Balance, Imports, Exports) did not move  that much the EurUsd. The pair today is trading in the range 1.3581-1.3557 at 1.3570 (-0.08%). The UsdJpy is recovering after yesterday closed below the 200SMA and now is trading at 97.12 (+0.44%). The GbpUsd  had a test at 1.6 and now is trading at 1.6076 (-0.12%).  Precious metals are trading with low volatility after yesterday gains: Gold is at 1326.23 (+0.26%) and Silver still above 22 area at 22.36 (+0.04%).  Crude Oil up +0.26 at 103.29 (+0.25%). This afternoon at 12:30 in US will be released the data regarding the trade balance and at the same time in Canada are going to be released the followings data: export, import, international merchandise trade. At 12:55 GMT  in US market operators will pay attention  to the Reedbook index. At 16:00 GMT Swiss National Bank Chairman Jordan will hold a speech that likely will have an impact on the Swiss Franc intraday volatility.