Countries & Regions Archives - Page 348 of 361

September 5, 2011

Australia Investor Confidence at Lowest Level Since 2009 – WSJ.com

Australians face rising electricity bills, fuel prices and mortgage rates, and the increasing cost of living has been exacting a toll on the economy.

Neither consumers nor businesses are in the mood to borrow in a major way. Veda’s quarterly Consumer Credit Demand Index, released Monday, showed consumer credit demand has dropped 5.1% since March. Business credit growth was flat in July, after having not posted growth for four straight months, St. George Bank economist Janu Chan said. In the year to July, business credit contracted 1.9%. “Lackluster growth in business credit is consistent with softening business confidence, and adds to evidence that certain sectors of the economy are doing it tough,” Ms. Chan said in a note.

via Australia Investor Confidence at Lowest Level Since 2009 – WSJ.com.

September 5, 2011

Fighting Australia’s “hot money” problem – macrobusiness.com.au

Australia is a large net borrower from the rest of the world. A large deficit in a capital account along with a deficit in the balance of trade while the currency is rising are all strong evidence that Australia has a problem with currency speculation.

Currency speculation, sometimes called “hot money” , needs to be controlled because it can cause some serious imbalances in the local economy both on the way in, and on the way out. There are a number of well-known symptoms for hot money in-flows, these include:

• Asset bubbles

• Currency appreciation

• Inflation

via Fighting Australia’s “hot money” problem – macrobusiness.com.au.

September 5, 2011

Euro tests primary support at $1.40

The euro broke its medium-term trendline against the dollar at [TX] and is headed for another test of primary support at $1.40. Failure of support would offer a target of $1.30*.

EURUSD

* Target calculation: 1.40 – ( 1.50 – 1.40 ) = 1.30

September 5, 2011

DAX breaks support

Dow Jones Germany Index broke support at 210/205 Monday, warning of another sharp fall as the ECB ramps up bond purchases and German participation in the bailout program is challenged in their High Court. Plunging 13-week Twiggs Money Flow indicates strong selling pressure. Target for the fall is the 2009 low of 150*.

DJ Germany Index

* Target calculation: 200 – ( 250 – 200 ) = 150

The DAX Index similarly broke support at 5500, offering a target of 4500*.

DAX Index

* Target calculation: 5500 – ( 6500 – 5500 ) = 4500

September 5, 2011

Here We Go: US Futures Plunge As Milan, Dax Down 5%, Italian Fins Halted, EURUSD Sub 1.41 | ZeroHedge

After the ECB just announced that it had monetized a whopping E13.3 billion in the past week, nearly double expectations, and a total of E134 billion since the SMP program’s inception, the market took one quick look at just how effective this program has been, shuddered, and plunged realizing that neither ECB intervention, nor the shorting halt is doing anything at all.

via Here We Go: US Futures Plunge As Milan, Dax Down 5%, Italian Fins Halted, EURUSD Sub 1.41 | ZeroHedge.

September 5, 2011

Shanghai confirms bear market

Dow Jones Shanghai Index breached support at 320, confirming the earlier signal at failure of 330. Reversal of 13-week Twiggs Money Flow below zero warns of rising selling pressure.

Dow Jones Shanghai Index

* Target calculation: 330 – ( 390 – 330 ) = 270

September 5, 2011

DJ Japan selling pressure

DJ Japan Index is headed for another test of support at 49.50. 21-Day Twiggs Money Flow peaking below zero warns of strong selling pressure. Breach of support would offer a target of 45.50*.

Dow Jones Japan Index

* Target calculation: 49.50- ( 53.50 – 49.50 ) = 45.50

DJ South Korea also displays a strong primary down-trend. Breach of support at 365 would offer a target of 300*.

Dow Jones South Korea Index

* Target calculation: 365 – ( 430 – 365 ) = 300

September 5, 2011

Dow Jones 30 Indian Titans

The DJ India 30 Titans Index displays strong selling pressure, with 13-week Twiggs Money Flow falling below zero. Reversal below support at 152 would offer a target of 136*.

Dow Jones India 30 Titans

* Target calculation: 152 – ( 168 – 152 ) = 136

September 5, 2011

ASX 200 headed for another test of 4000

Declining volume and strong red candles at the recent ASX 200 reversal warn of another test of 4000. Support at 4000 is unlikely to hold unless there is a strong spike in volume, similar to that in early August. Failure would offer a target of 3500*.

ASX 200 Index

* Target calculation: 4000 – ( 4500 -4000 ) = 3500

A longer-term view of the All Ordinaries Index shows declining 13-week Twiggs Money Flow below zero, warning of selling pressure.

All Ordinaries Index

* Target calculation: 4000 – ( 4500 – 4000 ) = 3500

September 5, 2011April 18, 2024

European rally meets resistance

The FTSE 100 index is meeting selling pressure in its rally to test resistance at 5600, evidenced by tall shadows on the last two candles. Reversal of 13-week Twiggs Money Flow below zero would strengthen the signal. Failure of support at 4800 would offer a target of 4000*.

FTSE 100 Index

* Target calculation: 4800 – ( 5600 – 4800 ) = 4000

The DAX Index also displays tall shadows on the last two weekly candles. The rally to test 6400 is particularly weak, with decline of 13-week Twiggs Money Flow below zero warning of strong selling pressure. Reversal below 5400 would offer a target of 4400*.

DAX Index

* Target calculation: 5400 – ( 6400 – 5400 ) = 4400

The CAC-40 displays similar selling pressure. Breakout below 2900 would offer a target of 2500*.

CAC-40 Index

* Target calculation: 2900 – ( 3300 – 2900 ) = 2500