Financial Pacific - Daily Market Update (third party)


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Financial Pacific - Daily Market Update (third party)

  1. 1. DAILY MARKET UPDATEGeneva, August 29th, 2011 Value Daily % chg YTD AMERICASEQUITY DOW INDU 11284.54 1.21% -2.53% SP500 1176.80 1.51% -6.43%The long-awaited Fed Speech at Jackson Hole pushed U.S stock markets NASDAQ 2479.85 2.49% -6.52%higher, as Chairman Ben S. Bernanke indicated the world’s largest BOVESPA 53350.79 0.75% -23.02%economy wasn’t deteriorating enough to warrant additional stimulus. EUROPE EUROSTOXX 50 2190.44 -1.18% -21.57%However, he did not exclude further intervention in September after the FTSE 100 5129.92 -0.02% -13.05%Fed’s policy meeting, which will be extended to two days to allow “ a fuller CAC 40 3087.64 -1.01% -18.85%discussion”. As for European stocks, they ended lower as a report showed DAX 5537.48 -0.84% -19.91%that the U.S economy grew more slowly than estimated. On the contrary, ISE NATIONAL 100 54015.89 1.98% -18.16%Asian stocks rose on speculation U.S Fed Chairman Bernanke would SMI 5323.12 0.47% -17.29%foreshadow measures to shore up the U.S recovery. ASIA NIKKEI 225 8797.78 0.29% -13.99%FIXED INCOME HANG SENG 19582.88 -0.86% -14.99% CSI 300 2901.22 -0.09% -7.26%Last week’s market focus was largely on Fed Chairman Bernanke’s Jackson ASX 200 4200.00 -0.30% -11.49%Hole speech, with the Treasury market coming under pressure from supply INDIA 15848.83 -1.84% -22.72%at the 2-year, 5-year, and 7-year auctions. The auctions went well thanks MIDDLE- EASTto strong demand from final investors, but below-average bidding from LEBANON 1285.11 -0.43% -12.91%primary dealers reflected elevated risk-aversion in the dealer community. JORDAN 2034.23 0.30% -14.30% TADAWUL 5979.30 1.06% -9.69% DSM 8290.00 1.45% -4.51% ADX 2602.04 0.45% -4.33%FOREX/COMMODITIES KUWAIT 5787.40 0.03% -16.79% EGYPT 470.17 -0.39% -29.14%Gold rose in New York after Federal Reserve Chairman Ben S. Bernanke FXindicated that the economy isnt weak enough to need immediate EUR-USD 1.4499 0.83% 8.33%stimulus. This announcement led equities and higher-risk assets to rise and USD-JPY 76.640 -1.06% -5.52%the dollar to fall against most major peers. Crude oil from its side also rose GBP-USD 1.6368 0.53% 4.84%as Hurricane Irene threatened to shut refineries on the U.S East Coast. USD-CHF 0.8063 1.68% -13.78%Source: Bloomberg, Brokers research EUR-CHF 1.1690 2.51% -6.53% COMMODITY Weekly economic data Survey Actual GOLD SPOT 1827.95 3.03% 28.66% 08/29 US Personal Spending 0.5% WTI FEB 2010 85.37 0.08% -9.58% 08/30 EC Euro-Zone Consumer Confidence -16.6 INTEREST RATE T-5 days 31.12.2010 08/30 US Consumer Confidence 52.0 08/31 EC Euro-Zone CPI Estimate (YoY) 2.5% US GOVT 2 Yr YIELD 0.1876 0.2012 0.5934 08/31 US ADP Employment Change 100K US GOVT 5 Yr YIELD 0.9359 0.9240 2.0060 09/01 EC PMI Manufacturing 49.7 US GOVT 10 Yr YIELD 2.1899 2.1058 3.2935 09/01 US Initial Jobless Claims 408K GERMAN GOVT 5 YR YIELD 1.2320 1.2120 1.8380 09/01 US ISM Manufacturing 48.5 GERMAN GOVT 10 YR YIELD 2.1570 2.1020 2.9630 EUR/USD GOLD 1st resistance 1.4755 1st support 1.4249 1st resistance $1933 1st support $1722 2nd resistance 1.4912 2nd support 1.4092 2nd resistance $1999 2nd support $1657This document has been prepared by Banque Audi (Suisse) S.A. The opinion expressed in this document is not the result of financial analysis provided by Banque Audi (Suisse) S.A. Therefore the regulation of the Swiss Bankers Association regarding theindependence of financial analysis does not apply to this document. Accordingly, the views expressed in this publication are not official recommendations of Banque Audi (Suisse) S.A. and should be considered as market comments for informationpurposes only. As such, the views herein may be subject to changes and are indicative only. This document should not be considered as an offer or recommendation to buy or sell any financial instrument or banking services. The document has beenprepared without regard to the individual financial circumstances and objectives of persons who receive it. The securities mentioned in this document may not be suitable for all investors. The appropriateness of a particular investment or strategy willdepend on an investor’s individual circumstances and objectives. Many factors may affect the value of a financial instrument. Investors shall therefore conduct their own analysis of the risks (including any legal, regulatory, tax or other consequence)and benefits associated with a transaction in a given financial instrument and should seek independent professional advice. Although this document has been produced with all reasonable care, based on sources believed to be reliable, Banque Audi(Suisse) S.A. makes no representation or warranty as to the accuracy or completeness of this document and accept no liability for any loss or damage which may arise from the use of this document.Banque Audi (Suisse) S.A., 18, Cours des Bastions P.O. Box 384, 1211 Geneva 12