Awaiting News From The Greek

(Reuters) - Brent crude held steady near $109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply. EU leaders may introduce new measures to tackle the euro zone's worsening debt crisis during Wednesday's informal meeting to seek solutions to the Greek political crisis mired in conflict over debt and austerity policies. Major powers will also meet Iran on Wednesday to discuss its nuclear programme, but tensions with the West remain high as the U.S. Senate unanimously approved a package of new economic sanctions on Iran's oil sector on Monday. Brent crude edged up 7 cents to $108.88 a barrel by 0448 GMT, but is still about $20 down from March's high. U.S. crude for ...

Fundamental News Today’s highlights: - ECB Monthly Report (EUR, 09:00 GMT) - Italian Industrial Production (MoM) (ITA, 09:00 GMT) - Trade Balance +Manufacturing Production (MoM)+ Industrial Production (MoM) (GB, 09:30 GMT) - Interest Rate Decision (GB, 12:00 GMT) - Initial Jobless Claims + Trade Balance (U.S, 13:30 GMT) - Trade Balance (CAD, 13:30 GMT) - Fed Chairman Bernanke Speaks (U.S, 14:30 GMT) Wholesale inventories in the U.S. rose by 0.3% (less than expected) in the month of March, according to a report released by the Commerce Department on Wednesday. Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized, the National Association of Realtors said in a report yesterday. According to Bloomberg ...

Fundamental News Today’s highlights: · ECB President Draghi Speaks (EUR, 13:30 GMT) · FOMC Member Fisher Speaks (U.S., 16:15 GMT) · Housing Starts (CAD, 13:15 GMT) Consumer borrowing in the U.S. surged in March by the most in more than a decade on growing demand for educational financing and autos. Credit rose by $21.4 billion, the biggest gain since November 2001, to $2.54 trillion, Federal Reserve figures showed today in Washington. The advance was paced by a $16.2 billion jump in non-revolving debt, including student and car loans. Australia’s trade deficit was at A$1.587 billion in March, the Australian Bureau of Statistics said on Tuesday. That missed forecasts for a shortfall of A$1.4 billion after showing a deficit of A$754 million in February. Exports ...

Fundamental News The new Euro-zone politics will dominate markets throughout this week, as anti-austerity political parties take hold in Europe. The confirmation of Hollande’s victory in France marks the end of the Merkel-Sarkozy dominance at the political heart of Europe. Investors are acutely aware of the new leader's distain for austerity measures and some elements of the EU's new fiscal treaty. Mr Hollande has vowed not to ratify the new EU treaty unless new growth promoting measures are added, which is going to significantly draw-out the process of fiscal integration, if not stop it altogether. While in Athens, both mainstream political parties saw a dramatic collapse in support with anti-austerity groups seizing the opportunity to bolster their support. The head of the Syriza party, ...

Forex Morning Briefing : ECN monetary policy unchanged; Market cautious ahead of US jobs report What’s new: Forex: Euro recovers after ECB President Mario Draghi’s news conference Global Markets: Asian stocks close in positive territory Euro zone: ECB leave rates unchanged at 1.00 percent, Draghi sounds less dovish Europe: Focus on French and Greek elections this weekend United States: Shares down before US jobs data release today United States: Jobless claims fall to one-month low, today’s jobs report in focus Rates in Asia and Indices: EUR/USD 1.3144 1.3163 -0.00 % USD/CHF 0.9129 0.9141 -0.01 % GBP/USD 1.6177 1.6195 0.05 % USD/JPY 80.14 80.28 0 % EUR/CHF 1.2014 1.2017 -0.00 % EUR/JPY 105. ...

(Reuters) - The euro dropped against the dollar on Monday and notched its worst monthly performance since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States. Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock down sentiment. "Risk aversion was today's theme, with the economic outlook for the euro zone looking bleak," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto. "In the U.S., overall deterioration in economic data has left the door squarely open for the Fed to add more stimulus." Data on U.S. spending and business activity in the Midwest reinforced that view that the U.S. ...

(Reuters) - The euro dropped against the dollar on Monday and was on track for its worst month since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States. Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock sentiment on the euro zone currency. "All the news out of Europe is getting worse, although we're still in a range," said Win Thin, senior currency strategist at Brown Brothers Harriman in New York. "I think the European news and the generally weak U.S. data are sort of feeding into this risk-aversion mode." The euro failed to gain traction despite signs the U.S. economic recovery was losing momentum, ...

Weekly Economic and Financial Commentary U.S. Review Nonfarm Payroll Report Continues to Show Progress The big headline for the week was the nonfarm payroll report which showed the labor market added 227,000 jobs in February with the unemployment rate unchanged at 8.3 percent. The private sector added 233,000 jobs with the largest gains in temporary help, manufacturing, education & health and leisure & hospitality. The real trade deficit of the United States widened in December to -$49.1 billion from -$48.3 billion. While much of the drop was due to an increase in petroleum prices, we expect trade to be a drag on first quarter economic growth. Positive Jobs Report Continues to Support Growth This week's economic indicators continued to signal a moderate pace of economic ...

Fundamental News: Today’s highlights: German Ifo Business Climate Index (GER, 09:00 GMT) Initial Jobless Claims (U.S, 13:30 GMT) Existing home sales in the U.S. showed an important increase in the month of January, according to a report released by the National Association of Realtors on Wednesday. The report showed that existing home sales rose 4.3 percent to an annual rate of 4.57 million in January. China’s Premier Wen Jiabao is seen signaling next month that curbing pollution, inequality and the risk of financial instability eclipse the benefits of faster economic growth, a survey of analysts indicated. Wen will target an expansion of less than 8 percent in his report to the National People’s Congress in Beijing on March 5, according to a report published by Bloomberg ...