Risk appetite back on Obama's speech and FOMC statement Christian Blaabjerg, Filed in: 3 numbers to watch 28 January 2010 at 8:30 GMT Non-Independent Investment Research What's going on? Stocks reacting positively to both the FOMC statement (quite subdued optimism, but still scheduling the end of various liquidity providing programs) and Obama’s State of the Union speech – promising to combat unemployment. It looks like we have a rejection of the USD here and that the bounce in risky assets will continue higher today. The widening/worsening of the HY credit universe and the CDS market has stopped and that should also support risk. Calendar Economic Data Releases Country Time (GMT) Name Saxo Consensus Prior GE 08:55 Unemployment Rate (JAN) 8.2% 8.1% EC 10:00 Consumer Confidence (JAN) -15 -16 US 13:30 Durable Goods / Ex. Trans. MoM (DEC) 1.8% / 0.9% 2.0% / 0.5% 0.2% / 2.0% Earnings Releases Country Time (GMT) (G(GMT)(GMT) Name EPS exp. EPS prior Comment FI 11:00 Nokia 0.195 -0.151 US 12:00 Ford 0.259 0.270 US 22:30 Microsoft 0.582 0.400 FX FX Daily stance Comment EURUSD 0/+ Look to buy dips to 1.3980, target 1.4065, stop below 1.3925. USDJPY 0/+ Buy into dips below 90.0 for a rebound back to 90.55 en-route to 91.0. Stop below 89.30. EURJPY 0/+ Buy dips to 126.0 for a rebound back to 127.40. Stop below 125.50. GBPUSD 0/+ Buy dips to 1.6150 for a rebound back to 1.6220. Stop below 1.6110. AUDUSD 0/+ Likely finds suppt at 0.8970. Buy there for 0.9045 target. Stop below 0.8910. FX Options FX-Options Comment EURUSD Vols offered right after the FOMC rate decision but with the spot break of 1.40 in Asia have started to find bids. Spot likely to retest lows around 1.3940. USDJPY Upside short date strikes are being paid this morning as market gets excited about the move above 9000. Back end vega continues to see good bids keeping it firm. AUDUSD Vols came offered this morning with the spot rally above 9000 and has found a base with the 1m trading at 13.0 compared to 12.75 earlier in the week when spot was higher. Equities Equities Daily stance Comment DAX 0/+ Buy on dips towards 5670 targeting 5700. S/L below 5655. FTSE 0/+ Buy on dips towards 5249 targeting 5280. S/L below 5233. S&P500 0/+ Buy on dips towards 1098 targeting 1104. S/L below 1094. NASDAQ100 0/+ DJIA 0/+ Futures Commodities Daily Stance Comment Gold 0/+ Buy at the break of 1092 and target 1104. Stop below 1088. Silver 0 Neutral. Oil (CLH0) 0/+ Buy on dips towards 73.50 and target 75. Stop below 72.80. Tweet Like LinkedIn Share Google+ Previous Next Comments Please sign in to comment or ask the author a question about this article. Recommended Recommend Unrecommend Recommend Tweet Like LinkedIn Share Google+ Related articles Fed to keep interest rates low during all of 2010 Look for US GDP today Watch out for US housing data today Three-day weekend in the US, makes for a quiet day Bank of England minutes the main event today Topics This post appears under the following topics... GBPUSD EURJPY forex AUDUSD macro FX Options Unemployment Rate commodities FTSE100 equities Consumer Confidence Reports USDJPY gold silver DAX EURUSD DJI