Saxo Bank Market call 28 july 2008 Thin Calendar Today, but

Added: Jul 28, 2008

From: Saxobankvideo

Duration: 6:26

Thin Calendar Today, but Financials Should Still be Under PressureWith the news from ANZ and renewed focus at Financials, they should continue to underperform. Overnight News BulletsGE Import Price Index MoM/YoY (Jun) out at 1.5%/8.9% vs. 1.0%/8.4% expected.SW Trade Balance (Jun) out at 8.2B vs. 10.3B prior.SW Household Lending YoY (Jun) out at 10.6% vs. 10.8% prior.E-Z M3 YoY (Jun) out at 9.5% vs. 10.3% expected.UK GDP QoQ/YoY (2Q A) out at 0.2%/1.6% as expected.UK Index of Services (May) out at 0.4% as expected.US Durable Goods Orders (Jun) out at 0.8% vs. -0.3% expectedUS Durables Ex Transportation (Jun) out at 0.8% vs. -0.3% expected.US Univ. of Michigan Confidence (Jul F) out at 61.2 vs. 56.4 expected.US New Home Sales (Jun) out at 530K vs. 503K expected.US New Home Sales MoM (Jun) out at -0.6% vs. -1.8% expected.NZ Trade Balance (Jun) out at -223M vs. -350M expected.AU HIA New Home Sales MoM (Jun) out at 4% vs. -5% prior.AU NAB Business Confidence (2Q) out at -8 vs. -4 prior.MarketsFX: The USD is staying in its range from the past to trading days. EURUSD vulnerable below 1.56.Fixed Income: 10-year contracts dropping sharpyly again on Friday. STIR Futures saying 93% chance of no rate change on the 5th of August.Stocks: European session mixed on Friday, US moderately higher. Asia also slightly higher this morning, but ASX is down 1%.Commodities: Crude Oil edging lower still, now $123.6. Gold and silver rather eventless.

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