Daily US Opening News And Market Re-Cap: Red Friday - News and Current Events | futures io social day trading
futures io futures trading


Daily US Opening News And Market Re-Cap: Red Friday
Updated: Views / Replies:252 / 0
Created: by Quick Summary Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Daily US Opening News And Market Re-Cap: Red Friday

  #1 (permalink)
Quick Summary
Daily US Opening News And Market Re-Cap: Red Friday

From Ran Squawk
  • Trading volumes remained thin owing to early closes associated with Thanksgiving in the US
  • Italy paid a record premium of 6.504% on the 6-month BOT and the bid/cover remained on the softer side, however the country managed to raise the full amount in the auction
  • Market talk of the ECB buying Italian and Spanish government debt
  • According to an article in the FT, the EFSF may not be able to raise enough funds to increase its capacity to more than EUR 1trl as planned
  • ECB's Coene said that if the current trend continues, rate cut is probable
Market Re-Cap

European equities traded lower for a vast majority of the session, amid thin trade, and as market participants remained nervous ahead of EUR 8bln BOT auction from Italy. Italy paid a record premium of 6.504% on the BOT and the bid/cover remained on the softer side, however the country managed to raise the full amount in the auction, which provided some relief. An article in the FT saying that the EFSF may not be able to raise enough funds to increase its capacity to more than EUR 1trl as planned also weighed on sentiment. Financials underperformed its European peers, with underperformance seen in the Italian FTSE MIB index. Weakness in equities rendered support to Bunds in early European trade, however Bunds came under pressure as the session progressed, amid thin volume, and as stops were triggered to the downside. Meanwhile, the Eurozone 10-year government bond yield spreads came off their widest levels partly helped by market talk of the ECB buying the Italian and Spanish government debt. In the forex market, the USD-Index continued to strength, which in turn exerted downward pressure on EUR/USD, GBP/USD and commodity-linked currencies. Also, CHF came under some pressure following market talk that the SNB is active in swaps market. Elsewhere, strength in the USD-Index weighed upon WTI and Brent crude futures throughout the European session.

Moving into the North American open, the economic calendar remains thin, however markets will keep a close eye on developments pertaining to the Eurozone debt situation.

Asian Headlines:

BoJís Shirakawa said Japanís financial system remains stable and government bond yields remain low. Japanís financial firms have small exposure to Europeís debt problems and Japanís economy is picking up, but the pace is moderate. (RTRS) In other news, Japanís 2011 GDP estimate is cut to -0.4% from +0.1%, and 2012 GDP growth estimate cut to 2.4% from 3.3% by Societe Generale. (Sources)

∑ Japanese National CPI (Oct) Y/Y -0.2% vs. Exp. -0.1% (Prev. 0.0%) (RTRS)

US, EU and UK Headlines

The EFSF may not be able to raise enough funds to increase its capacity to more than EUR 1trl as planned because of deterioration in market conditions over the past month, according to unnamed senior Euro-area officials. (FT-More)

∑ Italian 6-month BOT auction for EUR 8bln, bid/cover 1.47 vs. Prev. 1.57 (yield 6.504% vs. Prev. 3.535%) (RTRS)

EQUITIES

European equities traded lower for a vast majority of the session, amid thin trade, and as market participants remained nervous ahead of EUR 8bln BOT auction from Italy. Italy paid a record premium of 6.504% on the BOT and the bid/cover remained on the softer side, however the country managed to raise the full amount in the auction, which provided some relief. An article in the FT saying that the EFSF may not be able to raise enough funds to increase its capacity to more than EUR 1trl as planned also weighed on sentiment. Financials underperformed its European peers, with underperformance seen in the Italian FTSE MIB index. Moving into the North American open, equities continue to trade lower, with financials and industrials as the worst performing sectors.

FX

The USD-Index continued to strength, which in turn exerted downward pressure on EUR/USD, GBP/USD and commodity-linked currencies. Also, CHF came under some pressure following market talk that the SNB is active in swaps market.

COMMMODITIES

WTI and Brent crude futures traded lower in the European session amid light volume and weighed upon by strength in the USD-Index.

Oil & Gas News:

∑ IEA chief economist said the current oil price is major risk for economic growth. He said he would like to see oil in the markets, oil prices are too high and the current oil price risks strangling economic recovery efforts.

Geopolitical News:

∑ The Arab League has given Syria until 11:00 GMT today to sign a protocol allowing rights monitors into the country before it presses ahead with plans to impose economic sanctions, according to Egypt's envoy to the regional bloc. The Turkish foreign minister said that the Arab league foreign ministers could meet on Sunday, and if Syria does not show goodwill there are steps Turkey can take with the Arab League.



More on ZeroHedge...

Reply to share your thoughts on this current event.


Reply



futures io > > > > Daily US Opening News And Market Re-Cap: Red Friday

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Daily US Opening News And Market Re-Cap: November 2 Quick Summary News and Current Events 0 November 2nd, 2011 09:40 AM
Friday's Jobs Report: Markets Bracing for More Bad News Quick Summary News and Current Events 0 September 1st, 2011 11:10 PM
Friday's Jobs Report May Be Priced Into Market Already Quick Summary News and Current Events 0 February 4th, 2011 02:00 AM
Small Stocks Led the Market, But Now Big-Cap Is Beautiful Quick Summary News and Current Events 0 October 28th, 2010 03:50 PM
Friday's Jobs Report: Forecast Is for More Disappointing News Quick Summary News and Current Events 0 August 5th, 2010 08:00 PM


All times are GMT -4. The time now is 10:28 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.06 seconds with 19 queries on phoenix via your IP 54.227.51.103