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Asian Market Update

2011-03-25 07:40:41 Japan mulls how to pay for earthquake, little progress made on Fukushima; RBNZ Gov Bollard talks Basel III Economic Data(JP) JAPAN FEB NATIONAL CPI Y/Y: 0.0% v 0.0%e; CORE y/y: -0.3% v -0.3%e (first decline in 5 month)(KS) SOUTH KOREA MAR CONSUMER CONFIDENCE: 98 V 105 PRIOR (lowest since Apr 2009)(JP) JAPAN FEB CORP SERVICE PRICE INDEX Y/Y: -1.0% V -1.2%E (8-month high)(SI) SINGAPORE FEB INDUSTRIAL PRODUCTION M/M: -2.0%...

Daily Financial Market Outlook

2011-03-25 06:50:10   In the euro zone today, market focus will be on the final day of the EU leaders summit and the release of the March German Ifo business survey. As things currently stand we do not believe that a resolution to increase the ESFS to €440billion from €250 billion currently and the replacement of the EFSF with the ESM will be achieved during this summit. Germany and Finland, among other countries, have been reluctant to...

Forex Exchange Morning Report

2011-03-25 05:24:55   Market wrapEquity markets shrugged off the battery of negative euro headline from the past 48hrs as risk on sentiment returned to the markets. Despite a formal agreement on the EFSF being delayed another three months, the resignation of Portugal's Prime Minister, Moody's downgrading 30 Spanish banks before markets opened and Fitch downgrading Portugal to A- late in the day. The Dow is currently up 0.6% and the S&P500; up 0.7%. European bourses...

European Market Update

2011-03-24 12:49:01 (PH) Philippines Central Bank Interest raised the Overnight Borrowing Rate by 25bps to 4.25%; Embarked on a tightening cycle(IN) India Primary Articles WPI w/e Mar 12th: Y/Y: No est v 12.3% prior; Food Articles WPI Y/Y: No est v 9.4% prior(FR) France Mar Business Confidence: 109 v 105e; Production Outlook: 21 v 19 prior; Own-Company Production Outlook: 25 v 17 prior(FR) France Mar Preliminary...

European Services And Manufacturing Sector's Performance Mixed In March, While UK's Retail Sales Drop In February

2011-03-24 11:53:36 Despite expanding at the fastest pace in more than six-months during January, the manufacturing and services sectors in Europe sent mixed signals about their performance over the past few weeks, where manufacturing activities dropped in Germany and the Euro-Zone, while the services sector continued to show improvement. The Composite index, based on a survey done on Euro-Zone purchasing managers expanded at 57.5 during March from the previous 58.2. A reading above 50 is...

Market Drivers - Currencies

  Today's CommentFX market keeps a close eye on Europe EUR/USD (SELL): Our expectations that the euro will come under pressure due to the debt crisis and political unrest are about to hold true. EUR/GBP (SELL): Yesterday's minutes from the monetary-policy meeting disappointed slightly. We reiterate our SELL recommendation. Today will see the beginning of the EU summit at which a comprehensive plan for the EU rescue fund and the economic ground rules are...

Sunrise Market Commentary

2011-03-24 09:46:17 § Global core bonds end mixed. Global bonds had an overall quiet session which ended with some modest gains for German bonds and minor losses for US Treasuries, the difference due to more tensions in the European peripheral bond market from which European core bonds profited. § Euro rally runs into resistance as investors turn cautious going into the EU summit Yesterday, EUR/USD longs took profit on the recent rally as the headlines on Portugal...

European Manufacturing And Services' Expansion To Ease

2011-03-24 07:57:47 In the euro zone, eyes will be on manufacturing and services data for the month of March with expectations to show a decline after climbing to record high last month.Manufacturing gauge is predicted to fall from the highest level since June 2000 of 59.0 to 58.3 while services are estimated to slide to 56.3 from 56.8. Tracking the euro movements over the past few...

Daily Financial Market Outlook

  2011-03-24 07:07:01 The UK Chancellor downgraded the 2011 growth forecast to 1.7% from 2.1% in yesterday's Budget and official retail sales figures for February, due this morning, will provide an indication of the health of domestic spending. Anecdotal evidence, including from the Bank of England's Agents' Summaries and our Consumer Barometer, indicates that there is likely to be a pullback from last month's surprisingly strong numbers. We expect retail...

Forex Exchange Morning Report

2011-03-24 05:42:47 Market wrapFears over Portugal's political stability continued to weigh on the euro while Sterling was battered by the deepening division on the BoE MPC and the UK budget's gloomy growth outlook, but a recovery in US equities supported risk currencies. EUR/USD pushed above 1.4200 in the European morning but then nerves took over and the pair was hit on an announcement that the Portuguese PM would make a statement in the European...
 
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