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European Market Update

2011-03-31 12:36:49 Euro Zone Flash CPI reading all but cements an April ECB rate hikeEconomic Data(GE) Germany Feb Retail Sales M/M: -0.3% v +0.4%e; Y/Y: 1.1% v 1.5%e(FI) Finland Jan Final Trade Balance: -€95.0M v -€75.0M prior(UK) Mar Nationwide House prices M/M: 0.5% v 0.0%e; Y/Y: +0.1% v -0.6%e(GE) Germany Feb ILO Employment: 40.641M v 40.6M prior; +43K v +41K m/m(GE) Germany Feb ILO Unemployment...

Gold bullion recovers $1430 due to a weaker dollar

2011-03-31 11:58:05 Gold futures were able to snap a 4-day losing streak yesterday as the US dollar weakens against it´s principle counterparts. Today, the most active contract for May delivery has recovered above $1430 where it lingers at time of writing ahead of further US employment data.While overall uncertainty in the marketplace remains high, the main trigger for the yellow metal has been a weaker greenback supporting dollar-denominated...

Precious metals higher as euro rises, market uncertainty supports

2011-03-31 11:08:10 Precious metals continued to rise, hitting multi-day peaks in end-of-month trading on Thursday, driven higher by a collapsing dollar and well supported by safe-haven factors.Spot gold edged up to a four-day high of $1,431.70 per ounce before settling at $1,428.80/1,429.60, still up $4.90.On the charts, resistance at $1,431 has been taken out, with next levels at $1,436 and $1,442. Support is set at...

European markets mixed on early trading; Euro

2011-03-31 10:20:16 European markets are mixed near opening levels in the first two hours of trading, with investors reluctant to risk ahead of key US non-Farm payrolls employment data tomorrow. In currency markets, Euro and Pound continue trading higher against the Dollar.Eurostoxx 50 Index eases 0.1%, while the German DAX index advances 0.2%, and the French CAC Index practically flat. In the UK, the FTSE Index edges 0.1% up...

Asian Market Update 2011-03-31

2011-03-31 07:22:40 Mixed economic data from Australia; G20 assembles in China; Tepco has 1 buyer snap up 2.5% of outstanding shares Economic Data(AU) AUSTRALIA FEB BUILDING APPROVALS M/M: -7.4% V 4.0%E; Y/Y: -21.8% V -12.8%E(AU) AUSTRALIA FEB RETAIL SALES M/M: 0.5% V 0.4%E (7-month high)(JP) JAPAN MAR NOMURA/JMMA MANUFACTURING PMI: 46.4 V 52.9 PRIOR (2-year low; first contraction in 3 months)(NZ) NEW ZEALAND MAR NBNZ ACTIVITY OUTLOOK: 14.7 V 36.6 PRIOR;...

Financial Market Outlook 2011-03-31

2011-03-31 06:24:39 Today sees producer price inflation releases in both France and Italy, along with the latest HICP figures for Italy and the Euro area. We expect these numbers will be above consensus estimates. Much of the recent pick up in inflation can be explained as resulting from higher oil prices but it is still nevertheless disturbing news. In the 3 weeks since ECB president Trichet talked about a rate hike being 'possible' at the...

Forex Market Morning Update

2011-03-31 05:18:31 Market wrapThe risk-seeking mood of the past two weeks continued, pushing equities and risky currencies higher. The S&P500; is up 0.8%, only 0.9% away from the February cycle high. The CRB commodities basket is unchanged, gains in precious metals off setting oil (-0.3% on higher inventories) and copper (-1.7% on lower Japanese production). US 10yr treasury yields are 2bp lower at 3.47%, contrary to the risk seeking...

London Session: Portugal's Financial Position Weakens, But the Euro Remains Immune

2011-03-30 12:16:49 We are back in a 'risk-on' environment which is fuelling the usual suspects: stocks, the Aussie dollar and the pound, while safe havens like the Swissie and the yen fall. The dollar is mixed - weakening against the euro, the pound and the Aussie, but strengthening against the yen. Oil and gold had a positive start to the European session. We expect these two assets to...

Current European Market Update

2011-03-30 11:32:51 (SA) South Africa Feb Private Sector Credit Y/Y: 5.4% v 5.2%e; M3 Money Supply Y/Y: 7.6% v 8.6%e(HU) Hungary Feb Producer Prices M/M: 0.2% v 0.0% prior; Y/Y: 6.3% v 6.4%e(SP) Spain Mar Preliminary CPI EU Harmonized Y/Y: 3.3% v 2.4%e(SP) Spain Feb Adjusted Real Retail Sales Y/Y: -4.5% v -4.7% prior; Real Retail Sales Y/Y: -4.8% v -4.7% prior(IT) Italy Feb Hourly Wages...

ECB Meeting In Focus, USDJPY Upside and CHF Strike

2011-03-30 10:15:12 As discussed in our previous update, volatilities have been sold off across the board quite dramatically since the events of two weeks ago when USDJPY collapsed more than four big figures at the close of the day. However we are now seeing a stop to this selling as market makers have found some renewed interest to purchase options. Nonfarm Payrolls is due out on Friday, and as usual this report constitutes the...
 
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