18/11/2013

Good morning,

The MSCI Asia Pacific Index gained 1% and  in China the CSI 300 Index climbed 3.3% on the prospect of real economy reforms. The positive momentum  affected the performance of the Hang Seng index in Hong Kong as well.  The gauge gained +659 .32 points at 23691.5 (+2.86%); In Tokyo the Nikkei closed down -1.62 points (-0.01%) at 15164.3 points.

In Europe at 8:27 GMT the DAX is losing  -16.3 points at 9153.2 (-0.2%) and  in UK the FTSE100 is flat  at 6689.1. The economic calendar is quite calm in Europe and data regarding the Eurozone Current Account will be released at 9:00 GMT followed at 10:GMT  by the Trade Balance data.

In the currency market the EurUsd has just lost 1.35 area and is trading at 1.3496 (+0.01%). UsdJpy after an intraday high at 100.39 is struggling to stay above 100 and now is at 99.96 (-0.23%). GbpUsd is trading in a 40 pips range at 1.6133 (+0.1%).  The Australian dollar is in relative strength against the Greenback, AudUsd at 0.9412 (+0.47%).  The US dollar is losing ground as well against the kiwi dollar: NzdUsd at 0.8364 (+0.57%).  UsdCad is trading at 1.0424 (-0.13%).

Negative morning session for precious metals, Silver  is at 20.67 (-0.72%) and  Gold is at 1285 .37  (-0.35%).

Crude oil and Natural Gas are in negative correlation environment.  Crude is at 93.43 $/barrel, down -0.41$ (-0.44%) and natural gas is at 3.69, +0.03 (+0.82%).

At 13:30  traders with positions or orders in the Canadian dollar they have to pay attention at the release of the Canadian portfolio investment in foreign securities. At 14:00 GMT  the Net Long Term TC Flows will be released and at 15 GMT  will be the turn of NAHB Housing Market Index

The Speech of FED Dudley (17:15 GMT) might increase volatility in the US equity market with the S&P500 that at its record high of 1798.2 is trading less than 2 points distance from the psychological level 1800.