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Debt Concerns Remain Predominant In the Euro Area

2011-03-28 12:13:56 After a hectic last week on the euro zone that renewed debt concerns after the rejection of the Portuguese austerity measures by the opposition that resulted in the resignation of the Prime Minister Jose Socrates and downgraded by rating agencies to Portugal. The Portuguese President may call for early elections in June but it seems that Portugal is now closer than ever to accept a bailout by the EU and IMF, especially after...

European Market Update

2011-03-28 11:17:42 (FI) Finland Mar Consumer Confidence: 17.7 v 16e; Business Confidence: 11.0 v 5.0 prior(SW) Sweden Feb Retail Sales M/M: 0.0% v 0.4%e; Y/Y:3.0% v 4.3%e(SW) Sweden Feb Trade Balance (SEK): 12.0B v 9.0Be(TT) Taiwan Feb Leading Index M/M: 0.0% v 0.6% prior; Coincident Index M/M: 1.3% v 1.8% priorFixed income:(GE) Germany sold €2.66B in 12-Month BuBills; Avg Yield 1.2649% v 1.0636% prior;...

Market Drivers - Currencies

2011-03-28 10:17:54 EURUSD (SELL): FED’s Plosser turned around the picture for USD last Friday.EURCHF (SELL): CHF under pressure despite negative signals from Europe.USDJPY (BUY): Buyers are back. Rate heading for test of 83.There will be pressure on the euro over the coming week. The EU summit on Friday made a final decision to postpone the decision about the temporary rescue fund – the European Financial Stability Facility (EFSF). In ...

Asian Market Update

2011-03-28 07:28:33 Tepco falls to 30-year lows and copper -1.3%; NATO takes over in Libya; Posco mulls raising prices 15%-20% Economic Data(TH) THAILAND FEB MANUFACTURING OUPUT INDEX Y/Y: -3.4% V +2.2%EMarkets Snapshot (as of 04:30GMT)Nikkei225 -1.1%S&P;/ASX -0.3%Kospi -0.4%Taiex -0.7%Shanghai Composite +0.7%Hang Seng -0.7%Jun S&P; Futures -0.2% at 1,308Spot Gold -0.3% $1,425/ozMay Crude oil -0.3% at $105.10/brlMay Brent -0.1% at $115.59May Copper -1.1%...

Daily Financial Market Outlook

2011-03-28 06:17:25 Revised Q4 GDP data for the US released last Friday showed that the US economy grew at a 3.1% annualised rate, up from the 2.8% previously estimated, largely the result of increased consumer spending. The release of February's US personal spending data today will give some idea if US consumer strength is continuing to hold up in the first quarter of the New Year. January's personal spending figures disappointed consensus estimates, the ...

Forex Exchange Morning Report

2011-03-28 05:17:42 Market wrapA number of key themes emerged on Friday generating increased divergence within FX markets. Violent protests spread throughout Syria with the death toll rising. On top of this, Portugal was downgraded for a second time by S&P.; The agency warned that the country's political crisis heightened the risk that it would be unable to re-fi nance its debt. This all weighed on the EUR which slid from the near 1.42 levels...

Euro zone Fears Start to Ease

2011-03-25 12:40:51 Overall risk sentiment has maintained its momentum from yesterday. Stocks are higher and risky currencies like the Aussie dollar and the Kiwi dollar are both higher. AUDUSD is back up at multi decade highs at 1.0230/40, and is driven higher by positive expectations for global growth this year. The improvement towards growth sentiment is due by two factors, firstly an improvement US unemployment. Initial jobless claims fell again last week suggesting that...

Forex Markets Feel Tired

  2011-03-25 12:04:34 News and Events:Markets seem to have cut out for the weekend early. German IFO data saw no sustained impact in FX markets despite decent numbers across the board. Traders seem to be struggling (myself included) with overall fatigue from the last three weeks and liquidity looks to be way down given the ease which USDJPY pushed up to 81.38. EUR has held up surprising well considering the recent...

German Business Confidence Drops on Japanese Quake and European Debt Concerns

2011-03-25 10:54:22 German business confidence dropped in March after rising in February to the highest level since record began 20 years ago as the Japanese quake affected stocks and European debt crisis raised concerns.Business climate indicator inched down to 111.1 from 111.2 in February; yet, current assessment gauge rose to 115.8 from 114.7 and expectations gauge fell to 106.5 from 107.9. The devastating earthquake and tsunami that hit Japan along with the unrest in...

Market Drivers - Currencies

  2011-03-25 09:55:57 Today's CommentThe euro holds firm EUR/USD (SELL): Lack of cooperativeness in Europe should put pressure on the euro, but nevertheless the single currency strengthened yesterday. EUR/GBP (SELL): Our SELL recommendation got off to a bad start, and technically we have seen a buy signal. The market is ‘stretched’. EUR/CHF (SELL): Expectations of M&A; flow (acquisition rumours) weaken the Swiss franc in a situation where it would normally...
 
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