Hello, it’s Monday, July 16 , 2012 and I’m
Tony Christopher with the daily outlook from UFX Markets. Last Friday Wall Street was closed positive
reversing losses on the final day, as a rally in JPMorgan Chase & Co and speculation China
will boost stimulus measures, tempered concern about earnings and the global economy. The
S&P closed positive, gained by 1.65%, the Dow Jones increased by 1.62% and the NASDAQ
gained by 1.48%. The US Dollar fell versus most of the majors
amid speculation global central banks will take more action to sustain faltering economic
growth. At the same, Italian borrowing costs fell at a sale even after Moody’s Investors
Service downgraded Italy. Currencies of commodity-exporting nations including Australia rose against the
dollar as data showed China’s gross domestic product grew 7.6 percent in the second quarter.
Today, Core Retail Sales are expected to grow by 0.10% vs. -0.40% previously, Retail Sales
is expected to grow by 0.10% vs. -0.20% previously and Empire State Manufacturing Index is expected
with 3.90 vs. 2.30 previously. The EUR/USD traded with a low of 1.2161 and
with a high of 1.2269. Today, Core CPI is expected to grow by 1.60% as previously.
Turning to commodities now, Crude oil rose for a third day, the longest winning streak
in a month by 1.25%, closing at $87.10 a barrel and Gold rose by 1.20%, closing at $1,589.00
an ounce. Well, that’s it for today, I’m Tony Christopher
for the daily outlook. Be sure to find out more at UFX Markets.com.