Amounts Of Euro Area

Sunrise Market Commentary - Fixed Income: Fresh elections in Greece further support core bonds - German bund came off the contract highs at the start of the session on better German Q1 GDP data. The move didn't last long however and the announcement of fresh Greek elections marked an intraday U-turn. This morning, the German Bund future and US Note future once again reach new contract highs. - Currencies: euro sell-off accelerates as Greece will hold now elections. - On Tuesday morning it looked temporary that the euro might enjoy some breathing space as the German Q1 growth was much stronger than expected. However, the rebound had no momentum at all. The euro was again hammered as talks on the formation of the Greek government collapsed. Is the euro heading for a free fall? ...

Gold dropped below $1,600 an ounce in heavy trading on Wednesday, nearly wiping out gains for 2012 as political uncertainty in Greece and Spanish bank worries prompted investors to sell bullion for a third straight daily decline. The precious metal was down more than 3 percent so far this week on European debt fears due to a change in the French presidency, the frail state of Spanish banks and political gridlock in Greece. This week's turmoil in Europe prompted investors to unwind long positions in gold built on optimism that followed a 130-billion euro bailout deal between the EU, the IMF and Greece. "With the fate of the euro once again hanging in the balance, investors may have also soured on gold, perhaps questioning whether they are now going to be seeing sufficient amounts of ' ...

Fundamental Analysis EUR "The grim unemployment figures for March will likely encourage talk about a long overdue ‘growth pact’ for the euro zone" - Martin van Vliet, an economist at ING Group Euro area unemployment rose to the highest level since 1997 in March and manufacturing contracted in April, adding to signs the economy is still far from out of the woods. USD "Employment growth is slowing" - David Sloan, an economist at 4Cast Inc. The number of Americans, who have found a job in the private sector fell to 119,000 in April from a revised 201,000 in March, the ADP Employer Services said on Wednesday. GBP " points to clear, decent construction expansion in April" - Howard Archer, chief UK economist at IHS Global Insight U.K. construction sector expanded slower in April, compared ...

The yen was a shade stronger across the board on Thursday but could see renewed pressure as buying linked to Japan's financial year-end looks to have peaked. Although the last day for spot trading in the business year to March 31 was on Wednesday, real-money flows from Tokyo kept main currencies under pressure against the yen, with some exporters spotted selling the dollar in large amounts. The yen's broad advance was driven mostly by its gains versus the biggest loser on the day, the Australian dollar, and picked up steam versus the greenback after stop-losses were triggered as the pair breached a recent support level. "Despite the year-end deals going through and dovish comments from the Fed's Bernanke, we're seeing the dollar is resilient against the yen, said Sumino Kamei, senior ...

Fundamental Analysis EUR The borrowing costs on German bunds climbed to three month record high after Greek PM Lucas Papademos got parliamentary support for a EUR 130 billion rescue package, curbing demand for safe securities. The yields on 10-year German notes added two basis points, reaching 2.06% on Wednesday. Germany's bills marked the sixth decline in seven days. USD The government of the US allowed 10 EU countries and Japan to be excluded from the Iranian oil sanctions as these countries managed to cut Iranian oil imports essentially. The sanctions are aimed at punishing countries that go on purchasing large amounts of Iranian oil. The biggest oil importers as South Korea, China and India were not exempted from the sanctions. GBP British budget gap nearly doubled in February on ...

Fundamental Analysis EUR The borrowing costs on German bunds climbed to three month record high after Greek PM Lucas Papademos got parliamentary support for a EUR 130 billion rescue package, curbing demand for safe securities. The yields on 10-year German notes added two basis points, reaching 2.06% on Wednesday. Germany's bills marked the sixth decline in seven days. USD The government of the US allowed 10 EU countries and Japan to be excluded from the Iranian oil sanctions as these countries managed to cut Iranian oil imports essentially. The sanctions are aimed at punishing countries that go on purchasing large amounts of Iranian oil. The biggest oil importers as South Korea, China and India were not exempted from the sanctions. GBP British budget gap nearly doubled in February on ...

Euro To Stay Under Pressure The old adage that you can take a horse to water, but can't make it drink sums up the current market situation. Despite a deluge of cash, underlying de-leveraging will continue to provide important dollar protection, especially against the Euro. Although the dollar is still a weak currency, the relative US outlook makes it a better bet than the major alternatives. The ECB again flooded the market with liquidity and the ISDA has decided that the Greek debt restructuring was not a credit event- not yet at least. The banks still have to face the fact that commercial banks will not increase lending no matter how much cash is flung in their direction, illustrated by the fact that deposits at the ECB rose to a record EUR777bn on Friday from the previous record of ...

(Reuters) - A substantial take-up of the European Central Bank's latest offer of cheap loans lifted stock markets and commodities on Wednesday, driving demand for higher yielding currencies at the expense of the euro. Around 800 banks took 530 billion euros ($711.45 billion) at the ECB's second-ever offering of 3-year funding, essentially in line with market expectations. The boost to liquidity, which amounts to over one trillion euros when combined with an early offering in late December, is expected to support demand for riskier assets like equities, commodities and peripheral European bonds. "This will increase the level of excess liquidity pretty sharply, which is ultimately positive or very positive for risk trades," said Luca Cazzulani, Unicredit fixed income strategist. The ...

The euro dipped and a share market rally ran out steam Wednesday on signs euro zone officials might delay Greece's next rescue package, while still avoiding a disorderly default. The single currency eased 0.3 percent, falling back below $1.31 after EU sources said euro zone finance ministers were not satisfied all Greece's political parties were committed to fresh austerity measures and might withhold bailout funds until April. European shares shed some of their gains though U.S. futures still pointed to a higher opening on Wall Street, with the release of January factory output and capacity utilization figures later in the day expected to add to signs of economic improvement. Riskier assets like equities had resumed their rally earlier Wednesday on hopes a growing flood of money from ...