Positive Earnings Reports, Recovery Expectations Help Asian Markets Snap-Shot

G10 Advancers and Decliners vs USD

NZD 0.32 DKK 0.11 EUR 0.07 AUD 0.07 CAD 0.07 SEK 0.06 NOK -0.06 JPY -0.07 GBP -0.08 CHF -0.27

Global indexes Current level % Change

Nikkei 225 Index 10'345.11 + 0.69 Hang Seng Index 23'798.16 - 0.33 Shanghai Index 2'695.72 - 0.72 FTSE 100 Index 5'896.25 + 0.48 DAX Index 7'062.42 + 0.54 SMI Index 6'567.31 + 0.83 S&P future 1'283.40 + 0.29

World markets Current level % Change

Gold 1'351.65 + 0.67 Silver 27.96 + 1.65 VIX 18.47 + 2.67 Crude wti 89.53 + 0.47 USD Index 78.29 + 0.09

Todays calender Estimates Previous Country / GMT

Germany: "Flash" manufacturing PMI, index Ja 60.9 60.9 EUR/08:28 Germany: "Flash" services PMI, index Jan 59.0 58.3 EUR/08:28 "Flash" manufacturing PMI, index Jan 57.0 57.1 EUR/08:58 "Flash" services PMI, index Jan 54.3 54.2 EUR/08:58 "Flash" composite PMI, index Jan 55.6 55.5 EUR/08:58 Industrial orders, % m/m (y/y) Nov 1.9 (17.4) 1.4 (14.8) EUR/10:00 Currency Tech EURUSD  R 2: 1.3785  R 1: 1.3635  CURRENT: 1.3590 S 1: 1.3400  S 2: 1.3245 GBPUSD  R 2: 1.6074  R 1: 1.6038  CURRENT: 1.5975 S 1: 1.5837  S 2: 1.5810 USDJPY  R 2: 83.70  R 1: 83.15  CURRENT: 82.75 S 1: 81.85  S 2: 8095 AUDUSD  R 2: 1.0171  R 1: 1.0077  CURRENT: 0.9900 S 1: 0.9840  S 2: 0.9800 Market Brief Asian markets advanced as companies posted higher profits and on speculation that government reports may show improved global recovery. The MSCI Asia Pacific Index rose 0.3%, Nikkei rose 0.7%, while Shanghai Composite dropped 0.25%. Positive GDP figures, rising consumer confidence from the US, improving industrial orders from EU could help offset concerns of Chinese tightening policies which would help Asian markets to improve further. Japanese policy makers are ready to take action on the Yen should it accelerate, giving indications to intervene again citing excessive strength of the currency can’t be tolerated because of adverse effect it may have on the economy and financial markets. The Dollar recovered from a two-month low against the Euro before US economic reports will suggest consumer confidence advanced and GDP improved, rising against majority of currencies on speculation that President Obama will sign new stimulus measures this week. The EURUSD traded at 1.3610 from high of 1.3647 on Friday, highest since Nov. 22, USDJPY traded at 82.77, GBPUSD traded at 1.5958 lows as reports may show GDP slowed down last quarter, AUDUSD dropped near a seven-week low to 0.9864 as producer prices rose 0.1% (exp. 0.5%) less than expectations.  ECB President Trichet stated that policy makers will look closely into energy and commodity prices, signaling possible higher interest rates. There are sentiments of a bullish momentum for the currency as troubled nations in the EU have been rallying and on expectations that industrial new orders from the EU rose 1.9% (prev. 1.4%) due today, and composite PMI showed advance to 55.6. with inflation levels rising in the EU (2.2%), the ECB has shown some interest in hiking rates and this has seen the currency moving upwards. Today’s calendar is EU heavy with German and EU region posting manufacturing and services data with the EU also releasing industrial new orders data. Focus shifts towards the FOMC rate decision due on Wednesday and GDP reports.