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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Asian shares may see some modest gains today

Article By: ,  Financial Analyst
November 10, 2011 10:46 AM

Asian shares are set for modest gains today as the European financial issue was somewhat addressed, at least in the short term, overnight. Italian 10-year bond yields fell 35 basis points to 6.86% after the European Central Bank was said to have purchased securities.

Italy sold the maximum amount of one year treasury bills on offer at an auction. Also in Europe, ratings agency S&P was caught in an embarrassing episode, having to correct its false cut to France’s credit rating, saying it was a technical error.

The EUR/USD remains slightly above 1.36 at the time of writing, reversing some of its recent losses but not exactly outperforming as traders are still cautious given recent developments.

In regional currencies, the Japanese Yen continues to appreciate despite desperate efforts from Japanese authorities to contain the currency rise. The USD/JPY was last trading at 77.65, slowly creeping back to its pre-intervention highs.

Meanwhile as we have previously written, the pressure from Japanese multinational companies will no doubt be compounding, stubborn with the competitive disadvantage the currency creates.

Market forecasts are for GDP in Japan to have grown at an annual rate of 5.9% in the September quarter, reversing three consecutive quarters of contraction. The official numbers are out on November 14th.

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