News Headline Summary
US EQUITY WRAP
US equities finished off their worst levels after paring losses seen earlier in the session, weighed on by negative sentiment from Asia following the latest IMF & OECD growth forecasts. The IMF cut its forecast for China’s growth forecast to 7.75% from 8%. Elsewhere, OECD cut its 2013 World GDP growth forecast to 3.1% from 3.4%. Price action lacked direction with a lack of Tier-1 data. Finally, the DJIA finished down 0.69% at 15302.80, the S&P 500 finished down 0.70% at 1648.36 and the NASDAQ 100 finished down 0.57% at 2994.82.
20:12, 29 May 2013 -
14:22, 30 May 2013
In a continuation of the move seen post US data, Spot gold continues to move higher in recent trade breaking its 21dma level at USD 1416.20 to the upside; USD index now trades down 0.67% ...
13:25, 30 May 2013
In a continuation of moves seen post US data, gold has printed fresh highs & the USD index (83.26 last) looks set to make a test on earlier lows at 83.23, which consequently has seen EUR/USD break back above 1.3000...
13:08, 30 May 2013
South Africa's ZAR continues to come under pressure against the greenback as USD/ZAR prints fresh year highs at 10.0920...
11:49, 30 May 2013
Given the recent JPY weakness following reports that Japan Public Pension Fund is considering a change to its portfolio strategy, it is worth remembering that back in February, managers of the fund said that they will begin talks on revising its strategy
11:14, 30 May 2013
EU MID-SESSION UPDATE – 30/05/13; US equity futures and European cash markets trade at fresh highs heading through the US cross-over, in a continued reaction to source comments that the world's largest pension fund is changing its strategy...
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