American equity markets pull back at opening Wednesday

The US Stock market experienced a generally negative opening Wednesday after a rapid resurgence of equities Tuesday that major indices notching sizable gains.

Beginning with the indices and composites, the NASDAQ fell -0.19% as it settles in region of 3165.16, down -6.19 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1507.17, descending -4.04 points or -0.27% at the time of writing. Finally, the Dow Jones has moved lower at the opening as well, trading in the zone of 13922.36, presently -0.41% after a setback of -56.96 points.

Sectors are all trading in the red at the opening, however the Energy and Financial sectors have distinguished themselves as the losers thus far, falling -0.81% and -0.65% respectively. In other news, the price of crude has settled above USD $95.47 Wednesday.

Feb 6, 2013

Forex Flash: Canadian PMI should pick up – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Canada releases the Ivey PMI for January this afternoon and the reading should pick up in line with the rise in the US index, and this may help the CAD at the margin.

Forex Flash: EUR/CHF targets 1.2515 - Commerzbank

As the EUR/CHF sold off to, tested and was held by the 1.2258 (61.8% retracement), Commerzbank analysts point ou thtat the intraday chart is indicating that this is the end of the corrective phase and “that we should see recovery from here to 1.2515”, wrote analyst Karen Jones, pointing to a drop to 1.2173/68 (December high + 78.6% retracement) if below 1.2258. “While this holds on a closing basis, we should see the market stabilize once more and recover”, she added.