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Broadgate Market News 11/4

11 April 2012

The Australian and New Zealand dollars rallied as Standard and Poor’s 500 Index futures advanced, signaling the underlying gauge may halt a five-day drop, supporting demand for riskier assets.

New Zealand’s dollar rebounded from a one-month low against the yen after data showed business confidence improved in the first quarter, adding to signs the country’s economy remains resilient.
The so-called Aussie earlier fell to the weakest in three months as commodities prices tumbled amid concern Europe’s debt crisis is worsening.

European stock futures declined amid concern Spanish bond yields will continue to rise. U.S. index futures climbed, while Asian shares fell.

“Spanish yields are likely to remain in focus this week, with analysts also eyeing any negative spillover into the Italian bond market,” Stan Shamu, a market strategist at IG Markets in Melbourne, wrote.

“Although Spain managed to announce some ambitious budget cuts, analysts remain concerned about the economic contraction this will induce.”

EUR/USD

USD/JPY

GOLD

OIL

 

The information set out herein has been obtained from various public sources and is by way of information only. Broadgate Financial can accept no liability of any sort in relation thereto and readers should obtain their own verification of any statement before making any decision which may have any financial or other impact.

Neither the information nor the opinions herein constitute, or are they to be construed as, an offer or a solicitation of an offer to buy or sell investments.

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