Today's Market Update - Asia Session

By FOREX.comNov 11, 2008 07:00PM ET

www.investing.com/analysis/fundamental/today%2527s-market-update---asia-session-12784

Today's Market Update - Asia Session

By FOREX.com | Nov 11, 2008 07:00PM ET

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It was another session of ''follow the leader'' as early Asian equity losses due to the troubled US auto industry drove investors to buy the Yen across the board. As stocks pared their losses, and US futures turned green, the Yen buyers all but vanished as traders bought back in to higher yielding assets in Japan.

USD/JPY dropped like a stone after the open, to a 97.15 session low, and as stocks bounced back, the pair topped out at a 97.88 high. EUR/JPY had similar dramatic moves as it fell to 121.23 out of the gate, and rebounded to near 123.10. The AUD/JPY as well as the NZD/JPY ''carry pairs'' also benefitted greatly as they both made solid gains, AUD/JPY from 63.60 to 64.85, and NZD/JPY from a 55.35 low to a 56.53 high. AUD/JPY still has a long climb ahead to get back near yesterdays highs near 69.40.

The Euro made great strides versus the US Dollar, from a 1.2476 low to current highs near 1.2600. Upside resistance can be found at 1.2680. GBP/USD squeezed higher from 1.5347 to over 1.5460 as UK Prime Minister Brown stated that possible tax cuts would be considered to help to pump up the faltering economy. Later we have UK unemployment and the BoE quarterly Inflation Report

Upcoming Economic Data Releases (London Session):

11/12/2008	6:00	CA	Bank of Canada Paul Jenkins Speaks in Business Roundtable	12-Nov
11/12/2008	8:00	EC	ECB's Gonzalez-Paramo Gives Speech in Paris	12-Nov
11/12/2008	9:30	UK	Claimant Count Rate	OCT	2.90%	3.00%
11/12/2008	9:30	UK	Jobless Claims Change	OCT	31.8K	40.0K
11/12/2008	9:30	UK	Avg Earnings inc bonus 3M/YoY	SEP	3.40%	3.30%
11/12/2008	9:30	UK	Avg Earnings ex bonus 3M/YoY	SEP	3.60%	3.60%
11/12/2008	9:30	UK	ILO Unemployment Rate (3mths)	SEP	5.70%	5.80%
11/12/2008	9:30	UK	Manu.Unit Wage Cost (3Ms/YoY)	SEP	2.60%	- -
11/12/2008	10:00	EC	Euro-Zone Ind. Prod. sa (MoM)	SEP	1.10%	-1.60%
11/12/2008	10:00	EC	Euro-Zone Ind. Prod. wda (YoY)	SEP	-0.70%	-1.20%
11/12/2008	10:30	UK	Bank of England Quarterly Inflation Report	12-Nov

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

May 07, 2025

ECB

2.65%

Apr 17, 2025

BOE

4.50%

May 08, 2025

SNB

0.25%

Jun 19, 2025

RBA

4.10%

May 20, 2025

BOC

2.75%

Apr 16, 2025

RBNZ

3.50%

May 28, 2025

BOJ

0.50%

May 01, 2025

CBR

21.00%

Apr 25, 2025

RBI

6.00%

Jun 06, 2025

PBOC

3.10%

BCB

14.25%

May 07, 2025

US 30	40,237.0	+643.3	+1.62%
US 500	5,361.3	+93.3	+1.77%
Dow Jones	40,212.71	+619.05	+1.56%
S&P 500	5,363.36	+95.31	+1.81%
Nasdaq	16,724.46	+337.14	+2.06%
S&P 500 VIX	37.56	-3.16	-7.76%
Dollar Index	99.890	-0.720	-0.72%

Crude Oil WTI	61.50	+1.43	+2.38%
Brent Oil	64.76	+1.43	+2.26%
Natural Gas	3.527	-0.030	-0.84%
Gold	3,244.60	+67.10	+2.11%
Silver	31.910	+1.151	+3.74%
Copper	4.5230	+0.1865	+4.30%
US Soybeans	1,042.75	+13.75	+1.34%

U.S. 10Y	4.495	+0.072	+1.63%
U.S. 30Y	4.875	+0.006	+0.12%
U.S. 5Y	4.168	+0.098	+2.41%
U.S. 3M	4.325	+0.006	+0.14%
US 10Y T-Note	109.73	-0.86	-0.78%
Euro Bund	130.98	+0.62	+0.48%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	198.15	+7.73	+4.06%
NVIDIA	110.93	+3.36	+3.12%
Alphabet A	157.14	+4.32	+2.83%
Tesla	252.31	-0.09	-0.04%
Amazon.com	184.87	+3.65	+2.01%
Netflix	918.29	-2.88	-0.31%
Meta Platforms	543.57	-2.72	-0.50%

Today's Market Update - Asia Session

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