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Market Outlook for February 14th, 2012

  Important Financial Indicators of the day Forecast Previous
GBP 09:30(GMT) CPI y/y 3.6% 4.2%
EUR 10:00(GMT) German Zew economic Sentiment -11.8 -21.6
USD 13:30(GMT) Core Retail Sales m/m 0.6% -0.2%
USD 13:30(GMT) Retail Sales m/m 0.8% 0.1%

Currencies

  • EUR/USD The dollar gained versus all its major counterparts after Moody's Investors Service cut ratings on European nations including Italy, Spain and Portugal, boosting demand for safer assets.
    • The dollar rose 0.2 percent to $1.3165 per euro as of 2:24 p.m. in Tokyo
  • USD/JPY The yen fall after the Bank of Japan said it expanded its asset-purchase fund to ensure a recovery.
    • The yen dropped as much as 0.2 percent to 77.76 per dollar, before trading at 77.68 at 12:48 p.m. Tokyo time from 77.57 yesterday.

Commodities

  • Oil fell from the highest price in almost five weeks on speculation that U.S. crude supplies are rising and demand for fuel may falter as Europe grapples with lower credit ratings.
    • Oil for March delivery slid as much as 54 cents to $100.37 a barrel in electronic trading on the New York Mercantile Exchange. It was at $100.62 at 1:57 p.m. Singapore time.
  • Gold prices fell in Asian trading Tuesday as the euro lost ground against the dollar amid resurfacing investor jitters about the euro-zone debt crisis.
    • Spot gold was trading at $1,717 a troy ounce at 0505 GMT, down $4.90 from its previous settlement.

Equities

  • Asian stocks narrowed losses as Japanese stocks rallied after the country's central bank unexpectedly increased asset purchases and the yen weakened.
    • Japan's Nikkei 225 Stock Average advanced 0.6 percent.
    • Australia's S&P/ASX 200 lost 0.8 percent.
  • US stocks rose, after the first weekly loss for the Standard & Poor's 500 Index in 2012, as Greece approved austerity plans to secure rescue funds.
    • The S&P 500 advanced 0.7 percent.
    • The Dow increased 72.81 points.
  • European stocks advanced the most in more than a week after Greek lawmakers approved austerity measures needed to get the financial rescue the nation seeks.
    • The U.K.'s FTSE 100 Index added 0.9 percent.
    • Germany's DAX Index rose 0.7 percent

Sources: Bloomberg, FT