State of the market march 08 2015
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The US economy added 295,000 jobs in February and unemployment remains low, but rate hike fears caused a sharp sell-off in US stocks. The NASDAQ touched 5,000 for the first time since 2000, though gold and silver continued their downtrend as the strong dollar increased. Crude oil found a bottom at $45 but further upside is limited, while sugar prices hit a 5-year low with no sign of a turnaround. The Indian rupee has strengthened against most major currencies since September 2014, appreciating 13-14.7% versus the Japanese yen, euro, and Australian dollar.
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State of the market march 08 2015
- 1. State of the Global Financial Market Deepak Singh Twitter: smarket March 08 2015
- 2. What happened this week? For 12 months in a row, the United States has added at least 200,000 jobs — a sustained pace of hiring unmatched since 1994 and 1995 US economy added 295000 jobs in Feb. Sharp rally in USD index Sharp rise in 10 year Yields
- 3. Fear Factor US economy added 295000 jobs in Feb. Rate Hike Fears Fed will raise interest rates in the near future Strong Dollar = Lower Corporate Earnings
- 4. Sharp Sell off in US stocks Is it going to be big correction?
- 5. This week: NASDAQ touched 5K Last time NASDAQ touched 5000 was on March 10 2000. It took 15 yrs to reclaim this level
- 7. Gold: Hit by Strong Dollar Gold broke down below $1550 in April 2013 and since then the trend has been down
- 8. Gold Slide I made a year back
- 9. Silver: Downtrend Continues In downtrend – every support gets broken. Silver broke down below 18.78 and has sustained below it
- 10. Brent Crude done with rally Brent has created a technical bottom at $45 but upside appears limited
- 11. Sugar Prices at 5 year low No sign of turnaround
- 12. Can China breakout > 3400?
- 13. Nifty – Post Budget week Nifty looks overextended on chart…due for pullback?
- 14. Nifty at 9000?
- 16. USDINR If you consider the extent of USD index rally since Sep 2014 – INR has done very well… INR has depreciated 3% against US dollar since Sep 01 2014
- 17. Australian Dollar (AUDUSD) AUD has depreciated 17% against USD since Sep 01 2014 INR has appreciated 14.3% against Australian dollar since Sep 01 2014
- 18. Singapore USD (USDSGD) Singapore Dollar has depreciated 11% against USD since Sep 01 2014 INR has appreciated 6% against Singapore dollar since Sep 01 2014
- 19. Japanese Yen USD (USDJPY) Japanese Yen has depreciated 16% against USD since Sep 01 2014 INR has appreciated 13% against Japanese Yen since Sep 01 2014
- 20. Euro (EURUSD) Euro has depreciated 17.5% against USD since Sep 01 2014 INR has appreciated 14.7% against Euro since Sep 01 2014
- 21. Summary Chart Currency INR Strength/Weakness* (Since Sep 01 2014) USD Lost 3% in Value Japanese Yen Gained 13% in Value Euro Gained 14.7% in Value British Pound Gained 6.5% in Value Australian Dollar Gained 14.3% in Value Singapore USD Gained 6% in Value * As of March 08 2015