As markets are awaiting for major bank to release
earnings it's keep rallying and trading around all time
high largest U.S. banks are expected to benefit from an improving domestic
economy and climbing home prices that are driving rising loan growth, Morgan
Stanley analysts say. J.P. Morgan Chase is best positioned to beat the street
EPS forecast as a higher percentage of revenue comes from investment banking,
analysts at Raymond James note. A bank’s earnings per share is a measure of
profit and is considered the most accurate indicator to predict share
price. Though European markets were pretty bad this week on Cyprus
concern.
Gold is tumbling throughout this week even
though Central bank buying for 2012 rose by 17% over 2011 to some 534.6
tonnes. As far as central bank gold buying, this was the highest level since
1964. Central bank purchases stood at 145 tonnes in the fourth quarter. That is
up 9% from the fourth quarter of 2011, and the eighth consecutive quarter in
which central banks were net purchasers of gold. Central Banks, while
talking down money printing and denying the presence of inflation, bought more
Gold in 2012 that any year dating back to 1964. Indeed, However, since becoming
net buyers of Gold in 2010, the Central Banks have been increasing their Gold
purchases rapidly.
As we suggested to yesterday to sell Usd/Jpy and
Cad/Jpy even after huge easing by BoJ which was successfully filled selling
level and both calls are on the way to achieve target probably by today before
closing but our buying Gold call which has filled today looks shaky.
Following are trade call for today,
- Sell Gbp/Usd at 1.5430 stop above 1.5490 target keep open for next week
For more info visit :www.cfb.ae
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