Asian Shares are modestly higher today, with the Nikkei closing out the morning session up 98 points or 1%, at 10,076. Mitsubishi Heavy was up 6% on a report that it was close to securing a large scale construction deal in Australia. Mask makers were also trading higher after the the H1N1 flu pandemic alert was raised from 5 to 6. In Sydney, the ASX200 is up 0.2% after strong gains all week. The banking stocks are all trading a touch higher with CBA the best of the bunch, But traders are sighting some profit taking to come this afternoon. RIO continues higher, up 0.3% but BHP is already seeing profit taking down 1%. The Kospi is trading up 0.3% and NZ is up 0.2%.
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Asian Stockmarkets modestly higher
June 12 2009, 5:52am | Comments »
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EUR/JPY grinding higher
The EUR is modestly outperforming both the AUD and the GBP so far today which is not so much of a surprise given Asia’s propensity to consolidate overnight moves rather than break new ground. EUR/JPY is up at 138.00 and with the Nikkei looking to close the week above 10,000, risk aversion is long forgotten and further gains look imminent. Sammy will take over for the rest of the session and I wish you all a nice weekend. Hopefully next week will be more profitable than this one.
June 12 2009, 4:36am | Comments »
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Cable continues higher
Cable is doing a good impression off the duracell bunny, just seems to keep on going. Presently at 1.6415. Next technical resistance now at 1.6430/35. Risk appetite in fine fettle. S&P futures up at high of day, up around 8 points.
June 10 2009, 9:44am | Comments »
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USDJPY trades higher
USDJPY has overcome the offers at 97.50-60 to take out small stops above 97.60. Its still looking bid after the morning market seems to have got itself short trying to trigger sub 97.00 stops. Look for an attempt at 98.00 going into Europe.
June 10 2009, 7:04am | Comments »
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Nikkei expected to open 1% higher
Japanese markets will open in around 15 minutes. The Nikkei should benefit from the overseas leads and the weaker JPY against the greenback. There was talk during the NY session of possible option protection ahead of 99.00 in USD/JPY but I have heard no confirmation of this as of yet.
June 8 2009, 2:42am | Comments »
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