Market Report as of 20th April 2010

FOREIGN EXCHANGE U.S. Dollar pared most of its earlier gains against its major counterparts on Monday. On the economic data front, the Conference Board leading economic index rose 1.4% in March (vs. +1% expected) following a 0.4% gain in February.

The Japanese Yen erased its earlier gains against its major counterparts.

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Market Report as of 20th April 2010

COMMODITIES

Gold erased its earlier losses and came back above $1135 an ounce helped by an intraday consolidation in the U.S. dollar.

Crude Oil prices (June contract) dropped below $83.50 a barrel yesterday pressured by weak stock markets.

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Market Report as of 19th April 2010

FOREIGN EXCHANGE U.S. Dollar was firm against most of its major counterparts on Friday. On the economic data front, the Reuters/University of Michigan preliminary index of consumer sentiment fell to 69.5 in April (vs. 75 expected) from 73.6 in March. Meanwhile, housing starts rose 1.6% in March to a seasonally adjusted 626,000 annualized units (better than expected) according to the Commerce Department.

The Japanese Yen soared against its major counterparts boosted by a jump in stock market volatility.

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Market Report as of 19th April 2010

US MARKETS US indices fell sharply Friday hurt by the SEC’s decision to sue Goldman Sachs. Shares in the diversified financials, banks and real estate sectors fell most.

91% of S&P500 constituents stocks traded lower Friday. 67% trade above their 20D MA vs 82% Thursday (above the 20D moving average). 90% trade above their 200D MA vs 93% Thursday (above the 20D moving average).

The VIX index added 2.47pts to 18.36. The spread VIX-VXN closed at a new 3mths high at 0.58.

The 10yr yield fell 7bps to 3.83% (below the 20D moving average). The 2yr-10yr spread rose 1.3bp to -281bps (below its 20D MA).

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We are delighted to inform you that One Financial’s Head of Marketing (Middle East Region), Sherif Sanad, will be appearing live on El Ekhbaria at 12:45PM Dubai time on Tuesday 20-04-2010 to talk about the local financial markets at Dubai and Abu Dhabi.

We are delighted to inform you that One Financial’s Head of Marketing (Middle East Region), Sherif Sanad, will be appearing live on Rotana Khalijia at 10:15 PM today (Monday 19-04-2010) Dubai time to talk about the Real Estate Industry in the GCC and the impacts of the Global Financial Crisis on the industry.

Market Report as of 13th April 2010

EUROPEAN MARKETS The Euro STOXX 50 rose 0.29% to 3002.23. Stocks from the bank, insurance and utility sectors gained ground. On the contrary, stocks from the basic resources, media and travel & leisure sectors fell.

48% of STOXX 600 stocks traded lower yesterday. 83% trade above their 20D MA vs 83% Friday (above the 20D moving average). 87% trade above their 200D MA vs 85% Friday (above the 20D moving average).

The Euro Stoxx 50 Volatility index added 0.19pt to 20.73.

The 10yr Bund yield rose 7bps to 3.17% (above its 20D MA). The 2yr-10yr spread rose 1bp to -218bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed up 0.12% to 5777.65. Retail, construction & materials and banks shares gained most in London yesterday. Barclays gained 2.29% to 364.65p and Royal Dutch Shell B 0.58% to 1898p.

In Switzerland, the SMI gained 0.32% to 6910.96. UBS added 3.11% to SF18.23 and Zurich Financial Services 1.6% to SF260.4.

European markets should start the day on a negative note.

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Market Report as of 13th April 2010

FOREIGN EXCHANGE U.S. Dollar slid against most of its major counterparts on Monday especially against the euro after euro-zone leaders agreed to provide 30 billion euros in loans to Greece. The rates would be at around 5% for a three-year loan but well below the current market rate.

The Japanese Yen was mixed against its major counterparts.

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Market Report as of 12th April 2010

US MARKETS US indices extended their rise and reached new 52w highs driven by gains in the real estate, media and consumer durables & apparel sectors. The 1Q earnings season kicks off today with Alcoa’s results.

79% of S&P500 constituents traded higher Friday. 80% trade above their 20D MA vs 72% Thursday (below the 20D moving average). 92% trade above their 200D MA vs 91% Thursday (above the 20D moving average).

The VIX index eased 0.34pt to 16.14, a new 52w low. The VXN index closed at a new 52w low at 16.54.

The 10yr yield fell 0.8bp to 3.89% (above the 20D moving average). The 2yr-10yr spread fell 0bp to -282bps (below its 20D MA).

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Market Report as of 12th April 2010

FOREIGN EXCHANGE

The Euro rebounded against the British pound. Fitch Ratings lowered its rating on Greece’s credit to BBB- from BBB+.

U.S. Dollar dropped against most of its major counterparts on Friday. On the economic data front, U.S. wholesale inventories rose 0.6% in February (vs. +0.4% expected) from a revised 0.1% increase in January according to the Commerce Department.

The Canadian Dollar fell against its major counterparts. Canada added 17,900 jobs in March (below expectations) according to Statistics Canada. The unemployment rate was unchanged at 8.2%.

The Japanese Yen was mixed against its major counterparts.

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Market Report as of 9th April 2010

FOREIGN EXCHANGE

The Euro was mixed against the British pound. Both the European Central Bank and the Bank of England left its key lending rate unchanged at 1% and 0.5% respectively.

U.S. Dollar pared most of its earlier gains against most of its major counterparts on Thursday. On the economic data front, initial jobless claims rose by 18,000 to 460,000 in the week ended April 3rd according to the Labor Department.

The Japanese yen erased its earlier gains against its major counterparts.

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Market Report as of 9th April 2010

COMMODITIES Crude oil prices (May contract) slid below $85.75 a barrel yesterday. The Energy Information Administration reported that storage levels rose by 31 billion cubic feet in the week ended April 2nd.

Gold erased its earlier losses and came back above $1150 an ounce as an intraday correction in the U.S. dollar sparked a recovery move.

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Market Report as of 8th April 2010

FOREIGN EXCHANGE U.S. Dollar was mixed against most of its major counterparts on Wednesday. On the economic data front, the Mortgage Bankers Association’s index dropped 11% in the week ended April 2nd.

The Japanese yen was firm against its major counterparts. The Bank of Japan’s policy board voted unanimously to keep its key interest-rate target unchanged at 0.1% as expected.

The British pound erased its earlier losses against the euro. The CIPS/Markit purchasing managers index declined to 56.5 in March (vs. 58 expected) from 58.4 in February.

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Market Report as of 8th April 2010

COMMODITIES

Gold jumped above $1150 an ounce despite a mixed U.S. dollar.

Crude oil prices (May contract) fell below $86.50 a barrel yesterday. U.S. inventories rose 1.9 million barrels in the week ended April 2nd according to the Energy Information Administration.

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Market Report as of 7th April 2010

EUROPEAN MARKETS The Euro STOXX 50 rose 1.62% to 2978.5. Stocks from the basic resources, travel & leisure and industrial sectors gained ground.

75% of STOXX 600 stocks traded higher yesterday. 85% trade above their 20D MA vs 83% Monday (below the 20D moving average). 85% trade above their 200D MA vs 84% Monday (above the 20D moving average).

The Euro Stoxx 50 Volatility index added 0.63pt to 20.63.

The 10yr Bund yield was unchanged to 3.09% (below its 20D MA). The 2yr-10yr spread fell 3bps to -216bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed up 1.15% to 5744.89. Oil & Gas, basic resources and auto & parts shares gained most in London yesterday. BHP Billiton gained 1.81% to 2301p and Rio Tinto 2.6% to 4006.5p.

In Switzerland, the SMI gained 0.23% to 6888.92. UBS added 3.62% to SF17.76 and ABB 1.26% to SF23.32.

European markets should start the day on a stable note.

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