Market Week Wrap-up

A tone of uncertainty overtook global markets this week, as investors contemplated the ambiguous growth outlook for 2012. Trading pivoted around the FOMC rate decision and press conference on Wednesday. The Fed once again moved the goal posts on its ...

US Market Update: Dow -59 S&P -2.5 NASDAQ +7

The DJIA and S&P500 are in the red this morning following the GDP data out this morning. US GDP grew 2.8% in Q4, a sharp acceleration from the 1.8% in Q3 and the quickest pace since the second quarter of 2010, although this rate was still less than expect

European Market Update: EU's Rehn expresses optimism of a Greek PSI at some point before the weekend is over

***Economic Data***
- (EU) ECB: € borrowed in overnight loan facility v €3.5B prior; € parked in deposit facility vs. €484.1B prior
- (RU) Russia Narrow Money Supply w/e Jan 23rd (RUB) 6.80T v 6.83T prior
- (IN) India ...

KBC: Market no longer bets on rate cuts in Poland in 2012. Polish economy grew by 4.3 % in 2011

DAILY FOREX AND DOW JONES RECOMMENDED LEVELS

Asian Market Update: NZ reports trade surplus; Yen continues to strengthen

US Market Update: Dow +33 S&P -1 NASDAQ -3.5

European Market Update: Risk appetite buoyed by reports that private lenders said to have accepted lower interest rate in Greek PSI deal

KBC: Fed’s dovish decision supports regional currencies. Czechs will lend EUR 1.5bn to IMF

Asian Market Update: Fed comments give a boost, but markets cannot sustain with continued global uncertainties; Singapore GDP at multi-year low

DAILY FOREX AND DOW JONES RECOMMENDED LEVELS

US Market Update: DJIA -46 S&P500 -1.5 NASDAQ +15

European Market Update: UK Q4 GDP contracts; German IFO survey mixed; All eyes now on FOMC statement and forecasts

KBC: Hungarian central bank surprises with keeping rates unchanged. Forint weakens only temporarily after the announcement