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Monday, July 19, 2010
Forex Special - With the Japanese market closed for holiday, the Asian session is showing mixed results today after market sentiment plummeted on disappointing US economic data late last week. So far the Hang Seng is off nearly 200 points or 0.98% while the Shanghai Composite is up 20 points or 0.87%.
Despite the weak consumer prices and confidence data Friday, investors are hoping for a broad rebound today in anticipation of strong second-quarter corporate earnings from important firms this week. In particular, Texas Instruments and Halliburton report later today while big names like Apple, Goldman Sachs and a handful of others release results over the week. Even with a strong showing however, fears of a slow recovery still leave risk aversion low and investors hesitant to jump head first back into the equities market.