MORNING BRIEFING: sharp rise in EURUSD at 1.4215, boosted by renewed optimism on the markets..

[RTFX-Trading]

MORNING BRIEFING: sharp rise in EURUSD at 1.4215, boosted by renewed optimism on the markets.

What's new:
US : CIT Announces $ 3Mrds finding emergency aid.
US : GM has received three offers for Opel.
US : third consecutive rising month of leading indicators.
US : investigation - the recession eases but does not appear to be complete.

Today:
08h15 Switzerland : trade balance june, last 2’013Mln.
10h30 UK : PSNB june, expected 15.5Bln, last 19.86Bln.
10h30 UK : PSNCR june, expteced 20.00Bln, last 18.78Bln.
14h30 US : national activity index june, last -2.30.
16h00 US : speech Fed President Bernanke.

Rates in Asia and Indices:
EURUSD :  1.4236 – 1.4189.
USDCHF:  1.0705 – 1.0674.
GBPUSD :  1.6553 – 1.6495.
EURJPY:  134.18 – 133.18.
USDJPY:  94.28 – 93.76.
DowJones :  8'848 +1.19%.
NASDAQ:  1’909 +1.20%.
S&P 500: 951 +1.14%.
Nikkei:  9’546 +1.61%.
Gold: $948.70.
Oil : $63.73.

Comments:

The global sotcks closed sharply higher Monday, at a higher for eight months for the S & P500, reassured by $3Bln credit to CIT, threatened with bankruptcy. The CIT share jumped 78% to $ 1.25! The main results of U.S. companies have set the bar very high for those who will announce their results this week. At this time, 71% of companies belonging to the S & P500 have exceeded market expectations. To date, 55 companies in the S & P500 have announced their results, there is still 143.

Today, investors await Federal Reserve President Ben Bernanke’s speech. The foreign exchange market should remain quiet until 4PM, then we expect some voliatility.

Have a nice day and happy trading.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
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