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European Confidence to fall from Three-Year High

2011-03-30 07:45:05 The euro-zone confidence report; released at 09:00 GMT, will probably show a decline in confidence during the month of March as MENA unrest along with Japan's earthquake sent commodities higher, accordingly, affecting global recovery. The European Commission in Brussels is expected to show that Consumer Confidence dropped in the final reading for March to -10.6, from the previous reported estimate of -9.9. The Economic Confidence index slipped in the same month to 107.5...

Financial Market Outlook

2011-03-30 06:26:58 Despite a slew of domestic indicators yesterday, financial markets saw little change at home or abroad as the approaching quarter-end dominated. Today looks set to follow a similar pattern with few major economic releases for markets to digest. In the UK, January's index of services provides the first official release for the sector in Q1. But heavy revisions to this series tend to see markets pay only peripheral heed to this release. We...

Forex Morning Report

2011-03-30 05:40:41 Market wrapMarkets continued to consolidate in the absence of any fresh themes emerging. The S&P500; is up 0.4%, although was spooked at the open by downgrades of Greece and Portugal (again) by S&P.; The former was revised to BB- with a negative outlook, the latter to BBB- - the lowest investment grade. The weekend's EU agreement on bailout terms requires debt restructuring, detrimental to existing bondholders. Commodities are modestly lower (-0.3%)...

London Session: Shift In Tone From Fed Officials Keeps Dollar Volatile

  2011-03-29 12:05:44 Dollar reacts to Bullard's comments UK growth in Q4 less dismal than first thought, but only just AUD moving with stocks Euro – driven by yields as periphery takes a back seat. It has been a fairly muted start to the day for risky assets. Stocks are lower along with the dollar, which remains lower on a broad-based basis. But the market remains on the defensive after a notable shift...

European Market current Update

2011-03-29 11:15:47 Spain's third-largest savings bank requests State aid that is nearly twice its capital shortfall estimated by the Bank of Spain.Economic Data(GE) Germany Apr GfK Consumer Confidence: 5.9 v 5.8e(SZ) Swiss Feb UBS Consumption Indicator: 1.46 v 1.66 prior(FR) France Feb Consumer Spending M/M: 0.9% v 0.5%e; Y/Y: 5.5% v 4.8%e(GE) Germany Mar CPI Saxony M/M: 0.5% v 0.5% prior; Y/Y: 2.0% v 2.2% prior(HU) Hungary Feb...

UK Contracts 0.5% in the Fourth Quarter

2011-03-29 10:03:54 UK GDP for the fourth quarter was revised to the upside to show that the British economy unexpectedly contracted 0.5% instead of the preliminary and estimated readings of -0.6%, giving some hopes that growth pace may improve in the first quarter.On the annual basis GDP remained unrevised at 1.5%, moving in line with both preliminary and analyst's forecasts. After the announcement of the better-than-estimated GDP figure, the British pound advanced against the...

Asian Market Current Update

2011-03-29 07:30:59 Japan's Jobless rate falls to a 2-year low; PBoC Dir sees RRR peaking at 23%; New Zealand Trade balance hits an 8-month high Economic Data(JP) JAPAN FEB JOBLESS RATE: 4.6% V 4.9%E (2-year low); JOB-TO-APPLICANT RATIO: 0.62 V 0.62E(NZ) NEW ZEALAND FEB TRADE BALANCE (NZ$): 194M V 270ME (8-month high)(JP) JAPAN FEB OVERALL HOUSEHOLD SPENDING Y/Y: -0.2% V 0.0%E (5-month high)(JP) JAPAN FEB RETAIL TRADE M/M: 0.8% V 0.5%E;...

Todays Financial Market Outlook

2011-03-29 06:30:32 It was another positive day for international equities, although the major bourses fell prey to profit-taking towards the European close. Equity markets had been supported by weaker oil prices and a strong rise in both US pending home sales (+2.1%m/m) and personal spending (+0.7%m/m) in February. Oil prices drifted a little lower, aided by reports that the allied forces were making progress in Libya. Having rallied for much...

Forex Exchange Morning Report

2011-03-29 04:52:01 Market wrapMarkets were largely stable but risk-positive. US equities firmed modestly (S&P500; +0.2%) on good consumer spending and pending home sales data, the backdrop of Libya and Fukushima keeping risk appetite in check. There was some concern Japan is failing to contain the nuclear fallout with the discovery of plutonium particles outside the plant. Commodities are weaker overall, oil down 0.5% as Libyan rebels improve their position, and copper down 1.5%...

Europe's Troubles Yet To Be Solved

2011-03-28 12:54:14 Risk has picked up a bit of momentum after performing poorly during the Asian session. European stocks are tracing the Aussie dollar higher. AUDUSD rose to a new record high this morning at 1.0312, beating the prior high of 1.0260 reached back in December. It has since fallen back slightly but remains elevated and may take another stab at 1.0300 before the day is out. The main driver of Aussie strength has been...
 
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