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D a i l y

M a r k e t V i e w

T u e s d a y , J a n u a r y 2 9 , 2 0 1 3

Major Economic Releases for Today

Period Event GMT Forecast Previous

DEC Australia NAB Business Conditions 00:30 -6

DEC Australia NAB Business Confidence 00:30 -9

JAN Japan Small Business Confidence 05:00 43.8

DEC German Import Price Index 07:00 -0.1% 0.0%

FEB German GfK Consumer Confidence Survey 07:00 5.7 5.7

NOV U.S S&P/Case-Shiller Home Price Index 14:00 145.94 146.08

JAN U.S Consumer Confidence 15:00 64 65.1

Asian Stock Market

DJ0313 SP0313 NK0313

13830 1496.75 10890

-0.10% -0.18% +0.40%

Asian equities rose in today’s trading session, with

Japanese equities boosted by a solid rally in banks,

although Hong Kong shares lagged behind, weighed by

Industrial & Commercial Bank of China Ltd. after

Goldman Sachs Group Inc. pared its stake in the lender.

Japan’s NK0313 rose 0.4%. U.S equities rose earlier in

yesterday’s trading session, as investors welcomed

strong durable goods orders and better-than-expected

earnings from manufacturing giant Caterpillar. The

Census Bureau said durable goods orders rose 4.6% in

December. Analysts were looking orders to rise just 1.6%

last month, following a 0.7% uptick in November.

Caterpillar's fourth-quarter earnings topped analyst

expectations, sending shares of the company up more

than 1% in premarket trading. As the biggest seller of

construction equipment in the world, with major

operations in China, Caterpillar is considered a

bellwether for the global economy. U.S equities may take

another breather today as investors wait for the next cue

from earnings and economic data to extend a run that

has pushed prices to 5-year highs.

Tech View

NK0313 RSI (20:80) Sto Fast

56.42% D 63.00%: K 79.76%

DJ0313 RSI (20:80) Sto Fast

75.81% D 97.55%: K 97.87%

54.05% D 37.34%: K 38.91%

NK0313

DJ0313

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DJ0313

The Dow Jones Industrial Average slid 0.1%, to 13830,

halting its six-session streak of gains. Weakness in

materials stocks helped drive indexes modestly lower,

as both the Dow industrials and S&P 500 took a step

back from multiyear highs. Materials stocks like Alcoa

declined 1.4%, to $8.90. On Friday, Exxon Mobil retook

the top slot on the leaderboard, but its shares fell

yesterday. Exxon slid 0.7%, to 91.11. Caterpillar rose

2%, to 97.45, after the heavy machinery maker voiced

cautious optimism about recent improvements in

economic indicators even after posting a 55% decline

in quarterly earnings yesterday. Caterpillar a major

manufacturer of durable goods was the only Dow

component to report earnings.

ND0313

Technology heavy NASDAQ ended up putting in a

mildly upbeat trading session yesterday, with Facebook

gaining ground following an analyst’s upgrade, but

Yahoo Inc. slipping ahead of the company’s quarterly

results after the close of trading. Facebook shares rose

almost 3%, to close at $32.47. Hard-disk drive maker

Seagate Technology edged up by 16 cents a share to

close at $37.41 ahead of its fiscal second-quarter

results after the close. Other gains came from Apple

Inc. which rose 2.3%, to $449.83, as well as Hewlett-

Packard Co. Microsoft Corp. and Texas Instruments Inc.

Crude Oil

Crude oil held above $96 a barrel in today’s trading

session as traders’ awaited data to gauge the strength

of the economy of the United States, the world's

largest oil consumer. Sentiment was boosted on

Monday after business spending data from the United

States helped reinforce the belief that a recovery was

taking root. Further adding to the positive mood today,

a poll showed German consumer morale rose for the

first time in four months. Oil prices continued to be

underpinned by the closure of Hess Corp's New Jersey

refinery, news of which boosted U.S gasoline futures

by more than 2 percent yesterday. Traders are now

eyeing data on U.S crude and oil products stockpiles

for clues on demand. The Federal Reserve has said it

expects to keep short-term interest rates exceptionally

low to help support the economy.

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Gold, Silver and Copper

Gold rebounded in today’s trading session, snapping a

four-day losing streak as bargain hunters picked up

deals after prices fell to their lowest in more than two

weeks in the previous session, but caution ahead of a

Federal Reserve meeting limited gains. Investors are

waiting to see if the Fed will make any

pronouncements about its monetary policy following

their two-day meeting that will kick off later in the day,

after recent data showed signs of a stabilizing recovery

in the world's biggest economy. Most economists do

not expect the Fed to curtail its bond-buying program

any time soon, but any hint that the central bank is

considering it would further depress Gold. In the short

run, Gold is still going to drift without much conviction,

though over the longer term it is still facing very heavy

pressure on the upside. Physical buyers in Asia

returned to the market when prices fell to $1,650 level,

giving some support to prices. Loose monetary policy

helped Gold stage a twelfth year of higher prices in

2012, as investors worried about currency debasement

as a result of rampant cash printing by central banks.

Equities and other riskier assets have attracted

investors over the past week or so, while gold lost

some of its shine, as upbeat data from the world's key

economies signaled that the economic recovery is

gaining traction. The Fed has vowed to keep its rock-

bottom interest rates until unemployment rate falls to

at least 6.5 percent. In December, the unemployment

rate held steady at 7.8 percent. Copper edged higher

yesterday after better than expected U.S durable

goods data lifted confidence about growth and

demand in the world's largest economy, but

uneasiness about the growth of supply kept prices in

check.

Traditional Agricultural

Wheat was higher on technical buying and spillover

from corn and beans. Weekly export inspections were

larger than expected. Soybeans were higher on

commercial and technical buying, along with spillover

from corn. There are continued signs of fresh demand

from China. Corn was higher on commercial and

technical buying. The nearby supply remains tight,

domestic demand is solid, and the weekly export

inspections were bullish.

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F u t u r e s S e t t l e m e n t P r i c e s M o n d a y , J a n u a r y 2 8 , 2 0 1 3

Instrument Contract Open High Low Settlement Net Change

DJ DJ0313 13814 13852 13800 13830 21

SP SP0313 1495.50 1499.75 1491.25 1496.75 1.25

ND ND0313 2729.50 2747.00 2725.75 2737.25 8.5

HS HS0113 23630 23757 23627 23667 74

NK NK0313 11010 11010 10805 10805 -110

FT FT0313 6244.5 6272.5 6236.0 6264.5 12

Gold XAU 1658.8 1662.1 1651.8 1655.4 -3.9

Silver XAG 31.15 31.30 30.73 30.85 -0.35

HG HG0313 366.05 367.55 364.30 366.00 0.95

CL CL0313 95.92 96.73 95.47 96.43 0.55

W W1313 778.25 782.75 770.50 780.50 3.25

S S0313 1448.50 1452.25 1434.50 1447.00 7

C C0313 720.75 729.25 719.00 729.25 8.75

D a i l y S w i n g s ( T h e P i v o t L e v e l s )

Trading Range Contract S3 S2 S1 Pivot R1 R2 R3

DJ0313 13751 13775 13803 13827 13855 13879 13907

SP0313 1483.58 1487.42 1492.08 1495.92 1500.58 1504.42 1509.08

ND0313 2705.08 2715.42 2726.33 2736.67 2747.58 2757.92 2768.83

HS0113 23480 23554 23610 23684 23740 23814 23870

NK0313 10532 10668 10737 10873 10942 11078 11147

FT0313 6206.33 6221.17 6242.83 6257.67 6279.33 6294.17 6315.83

XAU 1640.47 1646.13 1650.77 1656.43 1661.07 1666.73 1671.37

XAG 30.05 30.39 30.62 30.96 31.19 31.53 31.76

HG0313 361.10 362.70 364.35 365.95 367.60 369.20 370.85

CL0313 94.43 94.95 95.69 96.21 96.95 97.47 98.21

W1313 760.83 765.67 773.08 777.92 785.33 790.17 797.58

S0313 1419.17 1426.83 1436.92 1444.58 1454.67 1462.33 1472.42

C0313 712.17 715.58 722.42 725.83 732.67 736.08 742.92

Disclaimer

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and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities

or commodities. TOGAKU securities, its officers and directors may in the normal course of business have positions, which may or may not

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