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EUR Marches On To New 2011 Highs in Asia, Extending Yesterday's Move

Australia PPI data suggests more pipeline inflation pressures in the futureMAJOR HEADLINES - PREVIOUS SESSION US Mar. Existing Home Sales out at +3.7% m/m vs. 2.5% expected and revised -8.9% prior NZ Apr. ANZ Consumer Confidence out at flat m/m vs. -6.2% prior AU Q1 NAB...

Forex Exchange Morning Report 2011-04-21

  2011-04-21 07:00:19 Market wrapRisk markets surged, buoyed by a raft of solid US corporate earnings. Among those beating consensus estimates were bellwethers Intel, Yahoo, and L'Oreal. US existing home sales data also beat consensus, providing marginal support. The S&P500; gapped 1.4% higher, and the VIX barometer of risk aversion fell to June 2007 levels. The bullish outlook for US companies in turn pushed commodities higher, the...

European Market Update 2011-04-20

2011-04-20 11:00:42BOE minutes mirror its Feb and March views; Risk appetite aids equities, commodites while USD limps onEconomic Data(GE) Germany Mar Producer Prices M/M: 0.4% v 0.8%e; Y/Y: 6.2% v 6.6%e(DE) Denmark Apr Consumer Confidence: 2.0 v 0.5e(GR) Greece Feb Current Account: -€2.0B v -€2.8B...

Daily Financial Market Outlook 2011-04-20

2011-04-20 06:56:37 Financial markets yesterday retraced most of Monday's reaction to S&P; placing the US economy on negative outlook. A modest tightening in Eurozone peripheral government debt spreads over German 10-year Bunds still leaves levels around post-EMU highs in Greece and Portugal, and not far below in Ireland. Only Spain's spread remains significantly lower than recent highs, but it is still 45bps higher than Friday's close, a reappraisal that continues to weigh on the...

Forex Exchange Morning Report 2011-04-20

2011-04-20 05:06:58 Market wrapSentiment rebounded after strong US building permit and housing start data, as well as a good earnings report from bellwether Johnson & Johnson. The S&P500; is currently up 0.4% and the VIX barometer of risk aversion is down 1ppt to near the multi-year low. Commodities are broadly 0.4% higher, oil +1.0%, copper (+1.1%) making a bullish key day reversal, and gold just making a fresh record high of $1500. The ...

European Market Update 2011-04-19

(JP) Japan Mar Final Machine Tool Orders Y/Y: 49.6% v 49.5% prelim(EU) Euro Zone Mar EU 25 New Car Registrations: -5.0% v 0.9% prior(HU) Hungary Feb Avg Gross Wages...

Market Drivers - Currencies 2011-04-19

Today's CommentRevival of the debt crisis – but now also in the US USD/CHF (long-term BUY): as indicated yesterday and Friday we were looking for an opportunity to buy. We bought at 89.57 with a horizon of 9-12 months. EUR/USD (from NEUTRAL to...

Daily Financial Market Outlook 2011-04-19

2011-04-19 06:30:54 Yesterday the S&P; maintained its credit rating for the US, but shifted the outlook from stable to negative, largely due to concerns over whether or not the large fiscal deficit and rising debt to GDP ratio will be sufficiently addressed. Another risk to the US economic outlook is the housing market....

Forex Exchange Morning Report 2011-04-19

2011-04-19 05:01:10 Market wrapMarkets were shaken by Standard & Poor's downward revision of the United States' AAA rating outlook from stable to negative. An inability to agree on a plan to address its fiscal pressures was cited. The negative outlook means there is a one in three chance of a an actual rating cut within the next two years. US equities were hurt (S&P500; down 1.2% currently) expecting a rating...

London Session: Euro-Storm billows assemble

  The euro has got off to a terrible start during this holiday-shortened week. News that a euro-critical Finnish party 'True Finns' had made big gains in the weekend's general elections, winning a hefty 19 % of the vote, caused the single currency to start on a weak note. Added to this was the news that Greece had discussed with Europe's finance ministers a possible restructuring at last week's ecofin meeting, which didn't help...
 
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