Finexo Forex news and Updates

• FX: EURUSD dipped to 1.3882 and might look ready for a bounce, but the 50% fibo level at 1.3840 might be “magnetic”.

• Fixed Income: Again large ranges, but no direction in 10- years.

• Stocks: European session down 0.5%, but US and APAC session both around 1% higher.

• Commodities: Gold, Silver and Crude all bouncing cautiously higher from yesterday’s close.

• Q2 GDP releases from Japan overnight show that the country’s economy has contracted at an annualized rate of 3%, with the slowdown rate the steepest since the last recession in 2001. A negative growth figure in Q3 would see the country technically enter a new recession.

• The markets globally are enjoying from a relief rally as speculation has grown that Lehman Brothers would be bought by another financial institution.

• The markets will be keenly observing the US August Retail Sales due out at 12:30 GMT. For the core, autoless figures, the median surveyed forecasts are pointing to a drop of 0.2%, which, if materialized, would be the first negative release in 6 months.