Again a fall in EURO, after Moody’s downgrades
’s debt. Unemployment in Spain increased by 35000 in October to 2.5 million. Industrial production of 16 EURO nations have increased as well as UK ’s which is 3%. Germany ’s central bank has forecast economic growth of 3.6% in 2010. IMF has approved fund of 22.5 billion EUROs for Germany in 3 years. Irish republic also returned into growth between July - September quarter. Ireland
Let see the market this week -------
Week ended Dec17
Week ended Dec10(%)
In spite of strong Yen, Japanese Tanken main index was good in past but in December it has fallen. It reflects the view of large manufacturers in Japan.
In coming days if oil breaks 84.50 level then it can go further down, on the up side if it able to close above 89.50 level for few days then we can see an up move from there. Right now its immediate target looks to me, that is beating 88.50 on the up side.
Gold is still making the pattern but it looks to me that it may go up because the liquidity in the market is increasing.
Market in coming week
Dow has the scope of going upward but technical indicators showing that it is over bought, same with FTSE as it is unable to close above 5900. In coming month 3950 is the level for CAC that need to be look in. Still there is no correction in T-SEC as it is going upward NIKKEI showing no sign of correction it is moving in respect of strong GDP and YEN depreciation against EURO.
’s IBOVESPA is looking close to find it’s short-term support. Brazil Shanghai composite may test it’s low of 2800 level, but among the Asian big indexes it is looking little less overbought along with . India
U.S. treasury yield which was increasing in early periods of this week is again starts to decline and the USD which may again go up in coming week, these things along with European economic issue, rate cut and Korean tension may effect the trading in coming week. There are also many reports those are due in coming week such as existing & new home sales, unemployment claims, consumer spending e.t.c. China
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