FROM: PETER CRUZ DATE: 14th June, 2013 – Fri. Market Brief The USD/JPY fell to its lowest level in nearly three months, approaching levels not seen since the BOJ announced its major stimulus package on April 4. So far, there has been no evidence that Japan’s stimulus efforts have been able to lift inflationary numbers. However, the yen’s strength is temporary, as investors are still betting long term that Mr Abe can boost Japan’s growth. Stocks rallied as upbeat readings on the US economy helped insulate against another steep drop in Japan. Crude-oil futures settled at a three-week high in a late-session rally, amid gains for equities and encouraging data on the US economy. Gold for August delivery fell $14.20 settle at $1,377.80/oz. on the Comex division of the Nymex. On the data slate there’s Euro-Zone CPI; Euro-Zone CPI –Core; US PPI; US Industrial Production; US Capacity Utilization; US manufacturing Production and US U. of Michigan Confidence. SELL EUR @ 1.3355 OR BETTER – STOP @ 1.3410 – TARGET @ 1.3150 – no change SELL GBP @ 1.5700 OR BETTER – STOP @1.5760 – TARGET @ 1.5450 BUY USD/JPY @ 94.80 OR BETTER – STOP @ 94.25 – TARGET @ 98.00 – no change SELL CL0813 @ 95.70 OR BETTER – STOP @ 96.30- TARGET @ 94.45 – no change SELL XAU @ 1383 OR BETTER – STOP @ 1400 – TARGET @ 1365 SELL XAG @ 21.75 OR BETTER – STOP @ 22.50 – TARGET @ 20.90 GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Fri, 14 Jun 2013 02:57:37 +0000
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