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Archive for March, 2010

Mar
31

US MARKETS: US Indices Closed Broadly Flat

March 31st, 2010

Market Report as of 30th March 2010

US MARKETS US indices closed broadly flat for the second day on Friday. Shares in the consumer durables & apparel, consumer services and material sectors traded up whereas shares in the pharmaceuticals, health care equipment and software sectors were under pressure.

76% of S&P500 constituents traded higher yesterday. 76% trade above their 20D MA vs 72% Friday (below the 20D moving average). 89% trade above their 200D MA vs 88% Friday (below the 20D moving average).

The VIX index eased 0.18pt to 17.59.

The 10yr yield rose 1.8bp to 3.86% (above its 20D MA). The 2yr-10yr spread fell 1.7bps to -282bps (below its 20D MA).

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Mar
31

Economic Sentiment Indicator For the 16-Nation Euro Zone Rose

March 31st, 2010

Market Report as of 30th March 2010

FOREIGN EXCHANGE

The Euro was mixed against the British pound. The European Commission’s economic sentiment indicator for the 16-nation euro zone rose 1.8 points at 97.7 in March.

U.S. Dollar was mixed against most of its major counterparts on Monday. On the economic data front, U.S. real consumer spending rose a seasonally adjusted 0.3% in February after +0.2% in January according to the Commerce Department.

The Japanese yen slid against its major counterparts.

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Mar
31

Using Indicators for Success

March 31st, 2010

Trading platforms have evolved considerably over the years and now provide many useful tools to achieve winning trades.

If you are using MetaTrader 4 or One Financial’s own browser based Edge Platform, the following indicators are available to you:trading tools

  • Fibonacci
  • Bollinger Bands
  • RSI
  • Moving Average (MA)
  • Moving Average Convergence/Divergence (MACD)

At One Financial we would really like to hear how you are using your charting tools and how these assist you with your trading decisions.

Send us a screenshot of how you use them and let us know how they helped to make those winning trades!

We’ll have regular features on our site giving all our demo clients the chance to share their experiences with the rest of the market.

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Posted in News |

Mar
30

One Financial’s Head of Marketing Appearing on Al Ektesadia

March 30th, 2010

We are delighted to inform you that One Financial’s Head of Marketing (Middle East) will be appearing live on Al Ektesadia TV at 3.30 PM Dubai Time Wednesday 31 – 03 – 2010, to talk about what’s happening right now in the local and international financial markets.

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Posted in News |

Mar
30

European Markets: The Euro STOXX 50 lost 0.37%

March 30th, 2010

Market Report as of 29th March 2010

EUROPEAN MARKETS The Euro STOXX 50 lost 0.37% to 2937.29. Stocks from the health, utility and technology sectors lost ground. Whereas stocks from the media, insurance and auto sectors rose.

56% of STOXX 600 stocks traded lower Friday. 79% trade above their 20D MA vs 84% Thursday (below the 20D moving average). 83% trade above their 200D MA vs 83% Thursday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 0.09pt to 19.8, a new 52w low.

The 10yr Bund yield rose 7bps to 3.15% (above its 20D MA). The 2yr-10yr spread rose 1bp to -215bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed down 0.48% to 5700.13. Health Care, utilities and banks shares fell most in London Friday. HSBC Holdings dropped 1.15% to 686.7p and Glaxosmithkline 1.51% to 1275.5p.

In Switzerland, the SMI lost 0.75% to 6842.35. Roche fell 1.85% to SF169.9 and Novartis 1.46% to SF57.55.

European markets should start the day on a stable note.

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Mar
30

Gold Jumped – Boosted by Declining U.S. Dollar

March 30th, 2010

Market Report as of 29th March 2010

COMMODITIES

Gold jumped above $1105 an ounce as a declining U.S. dollar boosted the demand for the precious metal.

Crude oil prices (May contract) dropped below $80 a barrel on Friday pressured by weak stock markets.

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Mar
29

Natural Gas Price Dropped Below $4.04 Per Million

March 29th, 2010

Market Report as of 26th March 2010

COMMODITIES

Natural gas (May contract) dropped below $4.04 per million British thermal units. U.S. inventories rose by 11 million cubic feet in the week ended March 19th according to the Energy Information Administration.

Crude oil prices (May contract) was mixed around $80.50 a barrel yesterday.

Gold was slightly higher above $1090 an ounce despite a firm U.S. dollar.

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Mar
29

ECB Accepts Securities with Credit Ratings as Low as BBB- Into 2011

March 29th, 2010

Market Report as of 26th March 2010

FOREIGN EXCHANGE

The Euro jumped against the British pound. The ECB President Jean-Claude Trichet said that the ECB will continue to accept securities with credit ratings as low as BBB- into 2011 in a move expected to take pressure off of Greek banks.

U.S. Dollar rose against most of its major counterparts on Thursday. On the economic data front, U.S. initial jobless claims declined by 14,000 to 442,000 in the week ended March 20th according to the Labor Department.

The Japanese yen slumped against its major counterparts.

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Mar
26

Fitch Reported on Portugal Downgrade

March 26th, 2010

Market Report as of 25th March 2010

FOREIGN EXCHANGE

The Euro slid against the British pound. Fitch reported that it had downgraded Portugal one notch to AA- and warned it could make further cuts.

U.S. Dollar soared against most of its major counterparts on Wednesday. On the economic data front, demand for U.S.-made durable goods rose a seasonally adjusted 0.5% to $178.1 billion in February according to the Commerce Department. Also, new-home sales dropped 2.2% to a seasonally adjusted annual pace of 308,000.

The Japanese yen slumped against its major counterparts.

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Mar
26

US Indices Consolidated on Concern About Government Deficits

March 26th, 2010

Market Report as of 25th March 2010

US MARKETS US indices consolidated on concern about government deficits. The 10y and 30y bonds fell sharply. Shares in the semiconductors, household & personal products and transportation sectors were under pressure.

79% of S&P500 constituents stocks traded lower yesterday. 81% trade above their 20D MA vs 89% Tuesday (above the 20D moving average). 90% trade above their 200D MA vs 91% Tuesday (above the 20D moving average).

The VIX index added 1.2pt to 17.55.

The 10yr yield rose 16.7bps to 3.85% (above its 20D MA). The 2yr-10yr spread fell 5.3bps to -276bps (above its 20D MA).

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Mar
25

European Markets – 75% of STOXX 600 Stocks Traded Higher

March 25th, 2010

Market Report as of 24th March 2010

EUROPEAN MARKETS The Euro STOXX 50 rose 0.68% to 2910.52. Stocks from the travel & leisure, basic resources and construction sectors gained ground.

75% of STOXX 600 stocks traded higher yesterday. 83% trade above their 20D MA vs 80% Monday (below the 20D moving average). 82% trade above their 200D MA vs 81% Monday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 1.16pt to 19.94, a new 52w low. The DAX Volatility Index closed at a new 52w low at 17.09.

The 10yr Bund yield fell 4bps to 3.07% (below its 20D MA). The 2yr-10yr spread fell 0bp to -210bps (above its 20D MA).

Outside the euro zone, the FTSE 100 closed down 0.1% to 5644.54. Auto & Parts, basic resources and travel & leisure shares gained most in London yesterday. BP dropped 0.83% to 629.8p and Royal Dutch Shell 0.77% to 1930p.

In Switzerland, the SMI lost 0.21% to 6866.43. Credit Suisse lost 2.2% to SF53.45 and UBS 1.97% to SF16.4.

European markets should start the day on a stable note.

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Mar
25

GBP | Annual U.K. Consumer Price Inflation Eased More Than Expected

March 25th, 2010

Market Report as of 24th March 2010

FOREIGN EXCHANGE

The British pound pared most of its earlier losses against the euro. Annual U.K. consumer price inflation eased more than expected to 3% in February from a 3.5% rate in January according to the Office for National Statistics.

U.S. Dollar was slightly higher against most of its major counterparts on Tuesday. On the economic data front, resales of U.S. homes and condominiums fell 0.6% in February to a seasonally adjusted annual rate of 5.02 million according to the National Association of Realtors. Meanwhile, the Richmond Fed’s manufacturing index rose to 6 in March from 2 in February.

The Japanese yen was mixed against its major counterparts.

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Mar
24

One Financial’s Head of Marketing will be Appearing Live on Al Ekhbariya

March 24th, 2010

We are delighted to inform you that One Financial’s Head of Marketing (Middle East) Sherif Sanad will be appearing live on Al Ekhbariya at 2.15 PM Dubai Time Thursday 25- 03-2010, to talk about what’s happening right now in the local and international financial markets.

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Mar
24

Foreign Exchange – USD Erased Its Earlier Gains

March 24th, 2010

Market Report as of 23th March 2010

FOREIGN EXCHANGE U.S. Dollar erased its earlier gains and slid against most of its major counterparts on Monday. On the economic data front, the Chicago Fed National Activity index fell to -0.64 in February from -0.04 in January.

The Euro dropped against the British pound. The ECB President Jean-Claude Trichet said it’s legally impossible for Greece to leave the euro zone.

The Japanese yen was firm against its major counterparts.

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Mar
24

BP and Royal Dutch Shell Shares Fell in London

March 24th, 2010

Market Report as of 23th March 2010

The FTSE 100 closed down 0.1% to 5644.54. Oil & Gas, construction & materials and insurance shares fell most in London yesterday. BP dropped 0.83% to 629.8p and Royal Dutch Shell 0.77% to 1930p.

The Euro STOXX 50 declined 0.25% to 2890.75. Stocks from the insurance, bank and energy sectors lost ground. Whereas stocks from the basic resources, food & beverage and personal & household goods sectors rose.

57% of STOXX 600 stocks traded lower yesterday. 80% trade above their 20D MA vs 80% Friday (above the 20D moving average). 81% trade above their 200D MA vs 80% Friday (above the 20D moving average).

The Euro Stoxx 50 Volatility index added 0.6pt to 21.1.

The 10yr Bund yield fell 2bps to 3.11% (below its 20D MA). The 2yr-10yr spread rose 1bp to -209bps (above its 20D MA).

In Switzerland, the SMI lost 0.21% to 6866.43. Credit Suisse fell 2.2% to SF53.45 and UBS 1.97% to SF16.4.

European markets should start the day on a stable note.

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