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Michael Michaud
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Michael Michaud is the founder of Invest2Success.com (http://www.invest2success.com/) and the Invest2Success Blog (http://invest2success.blogspot.com/). He has been investing and trading in the financial markets since 1989. He founded Invest2Success.com to empower individual institutional... More
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  • Euro Trade Steady In A Narrow Range Above 1.33 Level 0 comments
    Aug 19, 2013 4:28 AM

    Euro trade steady in a narrow range above 1.33 level. There is no scheduled important economic news for today and market seems to trade in a holiday mode.

    Asian shares: Japan's Nikkei 0.79%, Hong Kong's Hang Seng -0.10%(07:00 GMT), Korea's Kospi -0.13%, Australia's ASX 200 0.04% and China's Shanghai 0.83%.

    Fed's Fisher says investors realizing 'there's no QE infinity'

    Consumer confidence in the U.S. unexpectedly dropped in August from a six-year high as Americans faced rising interest rates. The University of Michigan preliminary index of consumer sentiment for this month fell on Friday to 80 from 85.1 in July, which was the highest since July 2007.

    U.S. companies' warnings that a stronger dollar could drag on profits in the second half of the year could prove overstated. A Reuters analysis of about 250 S&P 500 companies found that one of four this quarter cited their competitive disadvantage in selling abroad when the dollar is strong. A negative currency effect is a particular worry among companies for the second half of the year - Colgate-Palmolive (CL.N), among others, cut its full-year outlook due to the dollar's strength. And it's no wonder many companies have that view. Most economists are forecasting the greenback will strengthen this year, with a Reuters poll released August 9 forecasting the euro will fall to $1.260 in six months. The dollar is expected to rise to 104 yen six months from now. The U.S. dollar index .DXY is down 2.2 percent so far in the third quarter, and it is up just 2 percent since the start of the year.

    China's central bank governor says they will continue with prudent monetary policy in H2 2013. Will fine-tune policy if needed but big adjustments unlikely. China making plans to relax controls on deposit rates.

    China's new home prices rose in almost all cities in July, led by gains in the biggest metropolitan centers, amid expectations that the government won't further tighten property market restrictions. Prices climbed in 69 of the 70 cities the government tracked last month from a year earlier, the National Bureau of Statistics said.

    There is virtually no scheduled economic news for Monday, but there are still plenty of key numbers to watch. Pay close attention to the 10-year treasury yield, which has jumped to its highest level in over two years. Watch for this Week, FOMC Minutes, Jackson Hole,US Housing Data.

    By Zulutrade

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