Monday, February 6th, 2012
The Americas
The Canadian dollar fell modestly this morning, as renewed concerns surrounding the Greek debt talks diminished demand for higher-yielding assets, and ahead of a report that will reveal activity of organizations – both private and public – within Canada through January. Mexico’s peso fell by a similar amount, ending a three-day appreciation, as crude oil fell sharply amid concerns regarding Greece. The Brazilian real halted four consecutive days of gains, falling from its strongest level in four months, on concerns that Europe’s debt crisis will halt global growth.
Europe
The euro fell almost one percent as debt talks between Greek officials and creditors continue, with little reassurance to investors that the next round of bailout funds will actually get applied. The debt talk news overshadowed other reports of German manufacturer’ orders improving by more than anticipated in December, and French borrowing costs falling at auction earlier this morning. Britain’s pound declined, as U.K. gilts advanced on Greek aid concerns, while reports showed U.K. home prices rising by more than expected in January. The Swiss franc declined sharply against the dollar, extending declines for a third consecutive day, as European equities fell on concerns of faltering progress within Greece. Poland’s zloty also declined sharply against the dollar, while posting more modest declines against its European counterparts, after a report showed the jobless rate in January climbed to 13.3 percent from 12.5 percent in December.
Asia Pacific
Japan’s yen fluctuated between gains and losses as the U.S. dollar remained strong amid the resurgence back to safe haven currencies. The Australian and New Zealand dollars declined modestly as commodities contracted, while also ahead tonight’s Reserve Bank of Australia’s interest rate announcement and New Zealand’s report on labor costs.
U.S. Data & Outlook
Thursday – 2/9
8:30am EST – Initial Jobless Claims (1/30 – 2/4)
Friday – 2/10
8:30am EST – International Trade (December)
9:55am EST – Consumer Sentiment (January)
Tuesday – 2/14
8:30am EST – Retail Sales (January)
Wednesday – 2/15
9:15am EST – Industrial Production (January)
2:00pm EST – FOMC Minutes (1/25 Meeting)
Thursday – 2/16
8:30am EST – Initial Jobless Claims (2/6 – 2/11)
8:30am EST – Housing Starts (January)
8:30am EST – Producer Prices (January)
Have a great day!
MARKET INDICATORS
DOW 12799.75 NASDAQ 2889.49 OIL 97.17 GOLD 1722.00
JPY HIGH 76.79 LOW 76.46
EUR HIGH 1.3130 LOW 1.3026
GBP HIGH 1.5821 LOW 1.5728
CHF HIGH .9263 LOW .9186
AUD HIGH 1.0769 LOW 1.0679
CAD HIGH .9993 LOW .9925