Financial Markets Today - By Winoptions.com - Mon, July 16, 2012
It is our pleasure to present you with Winoptions.com daily analysis and a list of important events in the week to come.
U.S Markets were closed substantially higher on Friday as investors expect Chinese policy makers to employ an expansionary policy to stimulate the economy. The Fed Chairman is expected to address the Congress on Tuesday and report on the future monetary policy he intends to take. Dow Jones index futures points to a lower opening. On Friday, The Dow Jones index was closing at 12,777 +1.62%, the S&P 500 index was closing at 1,356 +1.65% and the NASDAQ index was closing at 2,908 +1.48%.
European Markets were also closed substantially higher on Friday. Finance ministers of the Euro zone, are expected to meet this weekend to discuss further steps to deal with the European financial crisis. On Friday, The FTSE 100 index was closing at 5,666 +1.03, the German DAX was closing at 6,557 +2.15% and the France CAC was closing at 3,180 +1.46%.
Asian Markets were closed higher on Friday. This is the first time in over five years that the Chinese economy shows a growth rate of under 8%. Investors now expect that policy makers in China will employ an expansionary policy to stimulate the economy. Earlier Today, The SSE Composite Index In China was trading around 2,159 -1.20% while the Hang Seng Index in Hong Kong was trading around 19,129 +0.19%, and the Nikkei 225 Index in Japan was trading around 8,724 +0.05%.
Commodities & Foreign Exchange
The U.S Dollar Index is higher, currently traded around 83.33 on a lower Euro. Crude NYMEX is down by 0.21%, currently traded around $86.91. Gold prices are down by 0.13%, the precious metal is currently traded around $1,590, Spot Silver is currently traded around $27.29.
As always, we wish you a successful trading week - and look forward to serving all your trading needs.
Re: Financial Markets Today - By Winoptions.com - Mon, July 16, 2012
The recent support in the rupee is likely to curb the upside movement of gold at about Rs 29,400 per 10 grams level this week even as it firmed up in the global markets due to the weakening of the US dollar. In MCX Copper chart suggest that prices are trading near a crucial support of 424 levels. MACD is in a buy mode and prices are trading above the short term averages. We recommend a buy around 424 levels with a stop loss placed below 418 levels for a target of 434 levels....
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