Wall Street Back Opened Today - Fundamental Forex News of Today

Wall Street Back Opened Today. U.S. stocks are expected to be re-opened today (31/10) after a two-day closed for security reasons after the storm Sandy. The worst storm in recorded U.S. history in nearly 75 years. NYSE Euronext (NYX.N) said the New York Stock Exchange will resume operation as normal despite the possibility of trade will be diverted to electronic commerce if needed. Nasdaq OMX's Nasdaq Stock Market will also be in operation today as well as BATS and Direct Edge Exchanges. "We've got the green light," according to NYSE Euronext chief operating officer Larry Leibowitz.

The entire floor of the U.S. carriers have been taking part in trials conducted yesterday (30/10) using the backup system NYSE. The test is done using a backup system due to interference caused by the storm. At least 30 people were killed and thousands of others fled to avoid the storm that hit the east coast of America yesterday. The storm made the most activity discontinued business in Manhattan and caused massive flooding in the subway network is expected to be closed for several days.

Scheduled U.S. stock exchanges remain open on Monday (29/10) but the multitude of pressures from companies worried about the safety of its employees makes the stock finally closed. This is the first time in 27 years the stock market was closed due to bad weather. Banks, brokers and other parties had been negotiating the possibility yesterday to continue trading. Losses caused by the storm is expected to reach tens of millions of dollars of lost income and bank stock, explains the analyst. After a two-day shut down in the middle of the corporate earnings season and the end of the financial year, the trade seems to be running volatile.

"At least this condition would occur in early trade due to excessive market reaction. Market trading volume is expected to surge at least in the first hour," said Art Hogan, managing director of Lazard Capital Markets in New York. NYSE, which handles about a quarter of the volume of the U.S. stock market transactions, has been testing electronic trading through the platform, obviously Leibowitz. Under normal conditions, the NYSE handles about half of the volume of transactions Wall Street trading floor, in which traders and specialists buy and sell shares directly.

Many companies, including 25 members of the NYSE's top companies, who make up more than 90% of the volume of transactions in the stock market took part in the trial, obviously Leibowitz. "Today is not expected to encounter many obstacles and is expected to market in good shape," he said. On Sunday (28/10) issued a statement NYSE trading floor will close and divert trade on electronic markets. It is ultimately undone after the onset of pressure from traders and other interested parties are concerned about the safety of employees during a storm. Testing of electronic transactions was done on March 31, but was never used again.

A trial was made early morning where the Nasdaq and BATS, which is the No. equities exchanges. 3 in the U.S. has been testing himself. There are a few issues while testing done, mostly related to the difficulty of the staff entered Manhattan due to flooding and transportation problems but all problems can be fixed by late morning, said Chris Isaacson, COO of BATS. "The majority of members could be reached today," he explained. The trials will also be possible to avoid the volatility of the transaction is not fair transaction in any securities, including the securities in the NYSE, he added. "Trading is expected to be back to normal," said Isaacson.

The bond market closed Tuesday. Financial industry trade group, said it has recommended SIFMA market will reopen today. September 2001 was the last time the stock exchange was closed. New York Stock Exchange and Nasdaq closed on Tuesday, September 11 following the terrorist attacks that destroyed the World Trade Center. Stock reopened six days later on Monday, September 17th. "Never before markets closed for three days due to bad weather and a superb condition for the market," said Mike Shea, of Direct Access Partners LLC in New York. "This is very different from an emergency while the September 11 attacks occurred."

Kenneth Polcari, a trader who has long been in the NYSE, said he was still waiting when the stock market will back to normal and can do transaction buy and sell directly on the trading floor. Leibowitz said it intends to close trading on the NYSE trading floor. "It depends on individual judgment. By using existing technology does not mean it is the best."

Sandy storm will impact on the Non-Farm Payrolls Report - Fundamental Forex News of Today

Sandy storm will impact on the Non-Farm Payrolls Report. The U.S. Labor Department will await U.S. employment report period October which is also the last report before the U.S. presidential elections to measure the effects of the storm Sandy on the U.S. labor market. Monthly unemployment data are scheduled for release on November 2 is expected to increase by 125 000 workers during the month of October with the unemployment rate edged up to 7.9% from the previous 7.8%.

Employment report is also expected to affect the decision of the electorate whether President Obama deserves a chance to be President of the United States for four years, compared to Republican candidate Mitt Romney. The Obama administration has so far demonstrated the performance of employment growth in 24 consecutive months as evidence of economic recovery, while the Romney campaign said that progress was still very slow recovery.

The former General Electric Co. CEO Jack Welch accuse the Obama administration had manipulated data manpower to take political advantage after unemployment rate falls below the estimated in September to its lowest level since the leadership of Obama in 2009.

Economic Outlook Sterling worry England

Solid UK data failed to save the pound on Monday, which had traded lower against the U.S. dollar as the erosion of demand for riskier currencies by the uncertainty of the fate of Greece and Spain. While concerns about the impact of Hurricane Sandy in the United States would encourage demand for the U.S. dollar as a safe haven. Banks disbursed loans to UK consumers increased at the fastest pace in more than 4 ½-year in September. Credit approvals for house purchase also exceeded expectations.

To further focus of investors will be drawn to the PMI manufacturing and construction sectors in the UK this weekend, which will indicate whether the strong momentum of the 3rd quarter to continue into the 4th quarter. "Investors are waiting for the PMI appears middle of this week, which may be a matter of debate in the BoE meeting next week," said Daraghi Maher, currency strategist at HSBC.

Shadowing Euro Uncertainty Continues - Fundamental Forex News of Today

Euro Flat Close to 1.2900, the narrow-range 1.2905/1.2899. EUR / USD is currently trading in a very narrow range between 1.2905/1.2899 for 4 hours while the U.S. markets were closed due to storm Sandy, last at 1.2902. The euro was down 0.25% so far in a week, looking for the defense in its daily low at 1.2885 movement. According to Valeria Bednarik, Chief Analyst at Fxstreet.com: "hourly chart shows a neutral stance, with the SMA-20 are still at relatively low levels heading above the current price," the analyst said, adding: "In the 4 hours chart, Euro mapped also bearish technical outlook for prices, has no reason to go down lower: BOJ monetary policy decision is a major risk factor for the next few hours, and will likely set the market tone for the current session. "


Valeria continued: "For the daily trend line down of Euro, today will be recorded at 1.2955, which is a key resistance level to clear bearish signal and provide opportunities bullish," with the support level at 1.2880, 1.2840 and 1.2800. While the level of resistance can be found at 1.2935, 1.2955 and 1.2980.

Shadowing Euro Uncertainty Continues

 The euro fell versus the dollar and yen earlier this week, amid continued uncertainty over Greek austerity deal and no signs of Spain will ask for a bailout. Risks increasingly threaten Greek bankruptcy after international creditors on Monday declined to give further concessions on labor law changes, which continue to be debated by the ruling coalition partners. While the funds owned by Athena just enough until mid-November.

"Although the European bond auctions and Spanish bond payments are due this week may be able to run smoothly, stability can not be achieved as long as there is no quick solution to the problem of Europe," said Kathy Lien, director of BK manager Asset Management in New York. Trade on Monday itself took a slim volume as the closure of the U.S. market due to threats of Hurricane Sandy, who probably also will continue until Tuesday


U.S. Election Polling Trigger Negative Sentiment Aussie

 Australian Dollar dragged down Asian stocks drop amid concerns emerge over the U.S. presidential election poll results, which eroded the demand for high-yield assets is high. But the weaker currency often called Aussie is estimated to be limited, following the rate cut reduced speculation the Reserve Bank of Australia at its policy meeting next week.

"The latest polls still show a relatively balanced support for Romney and Obama, who assessed the market leads to uncertainty," said Ray Attrill, deputy head of currency strategy at National Australia Bank Ltd.. in Sidney. "And that led to a negative movement in the market risk. Which might be able to deliver the Aussie fell back below $ 1.03."

Results Ohio Newspaper Association poll released on Sunday showed Romney - Obama will outperform. At the same time, another poll for 1015 voters showed they support a balanced sound.