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Market Drivers - Currencies 2011-04-08

Today's CommentEURUSD has breached through the three-year trend line § EURUSD (NEUTRAL) Strengthening of the uptrend § EURSEK (SELL) At the bottom of the trading range § EURPLN (SELL) Interest-rate spread points to SELL EURUSD (NEUTRAL): Over the past weeks, EURUSD...

Daily Financial Market Outlook 2011-04-08

2011-04-08 07:49:47 Yesterday's announcement that Portugal will be seeking an estimated €75bn bailout from the EFSF, although coming earlier than expected, was not a surprise to financial markets, who had already viewed the country's financing needs as untenable. Instead markets are holding out to see how things progress with Portugal's much larger Iberian neighbor, Spain, where prospects of fiscal stability are much more upbeat. For the ECB, weak economic and fiscal positions amongst Euro...

Forex Exchange Morning Report 2011-04-08

2011-04-08 05:35:16 Market wrapSentiment was slightly dented by a 7.4 magnitude earthquake off Japan during early NY. The location was near the 11 March disaster, reportedly damaging a nuclear power plant at Onagawa. Most asset classes were only slightly affected, the S&P500; currently down 0.3% currently. Also helping stall the US equities rally is the impasse in Congress over spending which threatens to shut down most US government services...

Japan: BoJ Upgrades its View on Economy

  2011-04-07 12:37:46 The Bank of Japan (BoJ), in connection with today's monetary meeting, announced a new loan facility to aid reconstruction. However, in the big picture this loan facility matters less and if anything the BoJ today delivered less than expected. It now appears that the BoJ wants as clearer view of the earthquake impact on the economy before it decides on further easing measures. That said the BoJ has...

European Forex Market Update

2011-04-07 11:42:04 (RU) Russia Gold & Forex Reserve w/e Apr 1st: $504.5B v $504.0B prior(FI) Finland Feb Preliminary Trade Balance: -€10M v -€95M prior(SA) South Africa Mar Net Reserves: $44.7B v $45.2Be; Gross Reserves: $49.3B v $48.0Be(AU) Australia Mar Foreign Reserves: A$35.7B v A$39.9B prior(IN) India Primary Articles WPI w/e Mar 25th: Y/Y: 13.0% v 13.0% prior; Food Articles WPI Y/Y: 9.2% v 9.5% prior(FR) ...

Asian Market Update 2011-04-07

  2011-04-07 09:36:01Australia unemployment comes in better than expected; BoJ extends support to quake impacted banks, leaving rate range unchanged Economic Data(JP) BANK OF JAPAN (BOJ) LEAVES TARGET RATE RANGE UNCHANGED BETWEEN 0.0% TO 0.10%; (as expected); CUTS ECONOMIC ASSESSMENT; To set aside ¥1T for a new loan scheme for banks in quake region(AU) AUSTRALIA MAR UNEMPLOYMENT RATE: 4.9% V 5.0%E (lowest level since Jan 2009); EMPLOYMENT...

Asian Market Update

  2011-04-07 09:36:01 Australia unemployment comes in better than expected; BoJ extends support to quake impacted banks, leaving rate range unchanged Economic Data(JP) BANK OF JAPAN (BOJ) LEAVES TARGET RATE RANGE UNCHANGED BETWEEN 0.0% TO 0.10%; (as expected); CUTS ECONOMIC ASSESSMENT; To set aside ¥1T for a new loan scheme for banks in quake region(AU) AUSTRALIA MAR UNEMPLOYMENT RATE: 4.9% V 5.0%E (lowest level since Jan 2009); EMPLOYMENT...

Daily Financial Market Outlook 2011-04-07

2011-04-07 07:10:09 And at last the week's focus: ECB and MPC announcements (and a press conference in the former's case) are due today. Having clearly signaled the prospect of a policy tightening in March and apparently confirming such a signal in the wake of developments in Japan and North Africa, it would be a huge shock if the ECB did not deliver a 0.25% increase in its main policy (refi) rate to 1.25% today. Almost...

Forex Exchange Morning Report 2011-04-07

2011-04-07 05:10:59 Market wrapThe pro-risk theme since mid-March was preserved, risky currencies pushing to fresh recent highs. US equity markets overlooked a potential government shutdown to rally to fresh highs. The S&P500; (+0.3%) made a 2-month high, while the DJ Industrial (+0.3%) made a 2 ½ year high. Commodities were higher overall, WTI oil up 0.4% (2½ year high), copper surging 2.5%, and gold (+0.3%) making a fresh record...

European Market Update 2011-04-06

2011-04-06 12:29:24 (FI) Finland Jan GDP Indicator: % v 7.2% prior(UK) Mar Halifax House Price M/M: 0.1% v 0.2%e; 3Mths/Year: -2.9% v -2.8%e(SP) Spain Feb Industrial Output WDA Y/Y: 3.6% v 2.2%e; Industrial Output NSA Y/Y: 3.3% v 5.1% prior(CZ) Czech Feb Industrial Output Y/Y: 13.0% v 13.9%e; Construction Output Y/Y: 5.6% v 8.3% prior(CZ) Czech Feb Trade Balance (CZK): 13.8B v 15.0Be(SZ) Swiss Mar Foreign...
 
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