07.12.2000 08:20:00 TT-FX
Oil Market
NYMEX january contract corrected 42 cents higher to $30.27 (reason said oversold technical signals)..from yesterdays fall, which was partily due to the DOE (said a more reliable data) crude.The 5.7 mln bpd discrepancy between API ( down 3.7 mln bpd) yesterday and the DOE (stocks up 2 mln bpd) caught a number of accounts wrong footed?

07.12.2000 08:27:00 TT-FX
chart:EUR/USD
Having established a firm foothold above 0.8750 yesterday, the immediate outlook remains constructive with prices above 0.8960 now required to initiate the next round of buying that would propel the Euro to 0.9020 (22-September intervention high), en route to 0.9080 and ultimately 0.9137 (61.8% retracement 0.9700 to 0.8227)....intraday support at 0.8885 and 0.8840, only break of later would indicate deeper correction towad 0.8795

07.12.2000 08:29:00 TT-FX
chart:USD/CHF
This morning's break below key support at 1.6943 (61.8% 1.6108 to 1.8300), maintains pressure on the downside, with a subsequent relapse below 1.6915 expected to yield 1.6850 en route to 1.6770 and ultimately 1.6622.
he immediate tone remains negative with prices above 1.7030 required to offset the near-term risk of further slippage for a recovery to 1.7091. Only a successful assault on the latter would neutralise short-term bearish sentiment for renewed gains to 1.7190.

07.12.2000 08:36:00 TT-FX
Euro fx option volatilities open higher today, as people are feeling nervous about spot testing the 0.9000 level
volatilities expected to move again higher when spot moves above 0.8960 level and would go lower with spot down at 0.8900 level

Gruss
Frank

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