Today's Market Update - Asia Session

By FOREX.comNov 25, 2008 07:00PM ET

www.investing.com/analysis/fundamental/today's-market-update---asia-session-13645

Today's Market Update - Asia Session

By FOREX.com | Nov 25, 2008 07:00PM ET

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Although news of the Federal Reserve's $800 Billion plan to unfreeze credit markets caused initial elation in the Yen crosses in NY trading, quite the opposite occurred in Asia as investors feared that despite the move, a global recession was inevitable. The EUR/JPY provided a fine example, as it peaked at 125.86 in NY trading and briefly flirted with 122.99 in Asia as the Yen was bough on risk aversion as the Nikkei was back in the red. The other Yen crosses followed the same path, with GBP/JPY dropping from NY highs of 148.61 to Asia lows of 145.42, AUD/JPY falling from 63.68 to 61.14, and NZD/JPY sliding from early NY highs of 53.76 to 51.60 lows. The Yen saw some strong bids versus the Dollar in Asia, going from 95.55 to 94.80 in a pretty swift move. Many see the Yen maintaining its strength as global worries continue and further BoJ rate cuts are put off .

In other markets, EUR/USD lost some luster from NY highs of 1.3080 in a risk seeking environment to a risk adverse 1.2946 in Asia. The pair looked to be gaining ground just under 1.3000 in early London trading. Tomorrow should bring a new tug-of-war between the risk ''seekers'' and ''fleers'' in what I must remind you is a holiday shortened week in the US.

Upcoming Economic Data Releases (London Session):

11/26/2008	7:00	GE	Import Price Index (MoM)	OCT	-1.00%	-1.40%
11/26/2008	7:00	GE	Import Price Index (YoY)	OCT	7.60%	5.00%
11/26/2008		GE	Consumer Price Index (MoM)	NOV P	-0.20%	-0.30%
11/26/2008		GE	Consumer Price Index (YoY)	NOV P	2.40%	1.60%
11/26/2008	7:45	FR	Consumer Confidence Indicator	NOV	-47	-49
11/26/2008	8:00	JN	BOJ's Shirakawa to Speak at Tokyo University	26-Nov
11/26/2008	8:00	EC	European Commission Holds Weekly Meeting	26-Nov
11/26/2008	9:30	UK	GDP (QoQ)	3Q P	-0.50%	-0.50%
11/26/2008	9:30	UK	GDP (YoY)	3Q P	0.30%	0.30%
11/26/2008	9:30	UK	Private Consumption	3Q P	-0.10%	-0.30%
11/26/2008	9:30	UK	Government Spending	3Q P	0.50%	0.60%
11/26/2008	9:30	UK	Gross Fixed Capital Formation	3Q P	-2.80%	-1.50%
11/26/2008	9:30	UK	Exports	3Q P	0.00%	-0.30%
11/26/2008	9:30	UK	Imports	3Q P	-0.50%	-0.90%
11/26/2008	9:30	UK	Index of Services (3mth/3mth)	SEP	-0.30%	-0.40%
11/26/2008	11:00	EC	EU's Barroso Holds News Conference on Economic Plan	26-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

3.75%

Apr 09, 2025

BOJ

0.50%

May 01, 2025

CBR

21.00%

Apr 25, 2025

RBI

6.25%

Apr 07, 2025

PBOC

3.10%

BCB

14.25%

May 07, 2025

US 30	38,227.5	-2318.4	-5.72%
US 500	5,062.7	-333.9	-6.19%
Dow Jones	38,314.86	-2231.07	-5.50%
S&P 500	5,074.08	-322.44	-5.97%
Nasdaq	15,587.79	-962.82	-5.82%
S&P 500 VIX	45.31	+15.29	+50.93%
Dollar Index	102.770	+0.970	+0.95%

Crude Oil WTI	61.99	-4.96	-7.41%
Brent Oil	65.58	-4.56	-6.50%
Natural Gas	3.837	-0.301	-7.27%
Gold	3,035.40	-86.30	-2.76%
Silver	29.230	-2.740	-8.57%
Copper	4.4020	-0.4265	-8.83%
US Soybeans	977.00	-34.50	-3.41%

U.S. 10Y	3.999	-0.037	-0.92%
U.S. 30Y	4.416	-0.060	-1.34%
U.S. 5Y	3.705	-0.031	-0.83%
U.S. 3M	4.253	-0.040	-0.93%
US 10Y T-Note	113.05	+0.41	+0.36%
Euro Bund	130.52	+0.68	+0.52%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	188.38	-14.81	-7.29%
NVIDIA	94.31	-7.49	-7.36%
Alphabet A	145.60	-5.12	-3.40%
Tesla	239.43	-27.85	-10.42%
Amazon.com	171.00	-7.41	-4.15%
Netflix	855.86	-61.19	-6.67%
Meta Platforms	504.73	-26.89	-5.06%

Today's Market Update - Asia Session

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