Market undecided, waiting U.S. President Obama’s and FED President Bernanke’s speech

[RTFX-Trading]

Market undecided, waiting U.S. President Obama’s and FED President Bernanke’s speech

What's new:
Switzerland: UBS will announce further cuts.
U.S.: Goldman Sachs, better than expected earnings of $ 1.66 billion.
United States: Bankruptcy prospect for General Motors emerges.
Oil: down close to $ 49, forecast; decline in global demand.
China: Prime Minister said that the Chinese economy is in better shape than previously thought.
Japan: BoJ has reached its limits in terms of conventional monetary policy.
Australia: the Australian dollar reaches the highest level in six months against the yen.

Today:
14.30 U.S.: index of producer prices in March, due 0.10%, previous 0.10%.
14.30 U.S.: index of producer prices excluding energy and food in March, due 0.10%, previous 0.20%.
14:30 U.S.: retail sales in March, due 0.20%, previous -0.10%.
14:30 U.S.: retail sales excluding cars in March, due -0.10%, previous 0.70%.
16:00 U.S.: stock levels in February, due -1.00%, previous -1.10%.
17.30 U.S.: U.S. President Obama speech on the state of the economy.
19:30 U.S.: speech by Fed chairman Bernanke.

Rates in Asia and Indices:

EURUSD: 1.3381 - 1.3306.
USDCHF: 1.1372 - 1.1321.
GBPUSD: 1.4921 - 1.4829.
EURCHF: 1.5161 - 1.5111.
USDJPY: 100.43 - 99.62.
DowJones: 8,058 -0.32%.
NASDAQ: -0.27% in 1337.
S & P 500: 859 0.25%
Nikkei: -0.87% 8'846.
Gold: $ 898 +0.63%.
Oil: $ 49.39 -1.32%.

Comments:

The dollar is down to 1.3350 against the euro, 1.4880 against the pound, 1.1340 against the Swiss franc and 99.75 against the yen. The dollar had benefited in last weekend's revival of investors' optimism about the economy. The publication of results of major companies this week, mainly in the banking sector, pushed the market to liquidate their long positions of accumulated dollars last week.

Today, the main events of the day are retail sales at 14.30 CET; the highly anticipated speech of the President of the United States, Obama, at 17:30 on the state of the U.S. economy; and the U.S. Federal Reserve President’s speech, Ben Bernanke, at 19:30.

Good Day

Nicolas Longchamp
RTFX Ltd
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