Been Locked In A Range

Sunrise Market Commentary - Fixed Income: Global core bonds profit from euro debt crisis - Concerns about Greece and Spain underpinned the ongoing rally of global core bonds. The German 10-year yield fell below 1.50%. Intra-EMU yield spreads versus Germany widened substantially. Today, the eco calendar is enticing. If no euro debt crisis news acts as a circuit breaker, the eco data may for once drive the price action. - Currencies: Speculation on Grexit continues to hammer the euro. - At the start of the new trading week, the Greek crisis remained the key factor for currency trading. With no visibility on the outcome of the EMU crisis, the easiest way for the euro is south. EUR/USD set a new correction low. EUR/GBP dropped below the 0.8000. This morning, strong German ...

The euro continued to tumble throughout yesterday's trading session as investors grew more concerned regarding the impact of a possible new Greek election next month. The EUR/USD fell close to 70 pips during European trading, reaching as low as 1.2829. Today, traders will want to pay attention to several potentially significant market events. At 9:00 GMT, the German ZEW Economic Sentiment figure may be able to help the euro recover some of its recent losses if it comes in above analyst forecasts. In addition, the US Core CPI, Core Retail Sales and Retail Sales figures, all scheduled for 12:30 GMT, could lead to market volatility for USD pairs. Should any of the news come in above expectations, the greenback could move up against the JPY. Economic News USD - US Retail Sales Data Set to ...

Sunrise Market Commentary - Fixed Income: new contract highs - London-traders returned and the market seemed to react with a lag to this weekend's election results. In a risk off session, both the German Bund Future and the US Note Future set new contract highs, respectively at 142.62 and 133-04. - Currencies EUR/USD testing key support - On Tuesday, sentiment on the euro remained fragile even as there was little news from the political scene in France or Greece. EUR/USD is again testing the key 1.2974/55 support area. A break below this level would be highly significant from a technical point of view. The Sunrise Headlines - US Equities dropped sharply lower yesterday, but reversed most of their losses in the final hours of trading. The S&P ended the session 0.43% lower. ...

Sunrise Market Commentary Fixed Income: Core bonds off resistance levels A technically inspired correction was supported by positive headlines after the Spanish bill auction (although far less important than tomorrows bond auctions) and strong ZEW data. The Spanish 10-yr yield dropped back below the psychological 6% mark but the threat is far from over. Currencies: euro fails to profit from risk rally On Tuesday, sentiment on global market changed for the better and intra-EMU spreads narrowed. However, EUR/GBP and EUR/USD failed to profit. This suggests that underlying euro weakness persists. Key support levels are still within striking distance. This is especially the case for EUR/GBP. Watch out for the Minutes of the April BoE meeting. The Sunrise Headlines US ...

(Reuters) - The euro fell on Friday, sliding for a second straight week against the dollar and the yen as rising Spanish borrowing costs spooked investors already reluctant to hold the single currency over the weekend. Investors reacted to news that Spain's banks are virtually locked out of credit markets and relied heavily on cheap loans from the European Central Bank in March, and the cost of credit default swaps on Spanish debt to a record high. The worries over Europe's lingering debt crisis fed anxiety over the global economy after data showed China's economy grew less than expected in the first quarter. "We're going into the weekend with market players averse to holding euros," said Michael Woolfolk, senior forex strategist with BNY Mellon in New York. "I think the way you play ...

(Reuters) - The euro dropped to a three-week low against the U.S. dollar on Wednesday after European Central Bank president Mario Draghi said the euro zone economic outlook is subject to downside risks, leaving the door open for more policy action. The euro came under pressure as Draghi's dovish comments contrasted with minutes from the U.S. Federal Reserve's March policy meeting, released on Tuesday, that showed U.S. policymakers were less keen on adding monetary stimulus as the American economy improves. Draghi's comments, which came in a news conference after the ECB, as expected, announced it was holding interest rates at 1.0 percent. With the U.S. economy improving, U.S. short term rates could start rising before those in the euro zone, removing a key weakness for the U.S. dollar. ...

(Reuters) - The euro slumped to its lowest level against the dollar in three weeks on Wednesday after European Central Bank President Mario Draghi said the euro zone economic outlook is subject to downside risks, leaving the door open for more policy action. The euro came under pressure as Draghi's dovish comments contrasted with minutes from the U.S. Federal Reserve's March policy meeting, released on Tuesday, that showed U.S. policymakers were less keen on adding monetary stimulus as the American economy improves. A widening interest rate differential between the euro zone and the United States would favor the dollar over the euro. The single currency was already under pressure after Spain's borrowing costs jumped at a bond auction. Losses accelerated after Draghi's comments, which ...

(Reuters) - The pace of growth in manufacturing picked up last month, even as measures of new orders and exports eased, underscoring how the economy is recovering at a gradual clip. Separate data on Monday showed construction spending suffered its biggest drop in seven months in February, prompting some economists to lower their sights for first-quarter growth. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.4 from 52.4 in February, topping economists' expectations of 53.0. It was a rebound for the sector after the pace of growth unexpectedly slowed in February and there were signs of stronger hiring. Even so, the forward-looking gauge of new orders was modestly weaker in March, easing to 54.5 from 54.9. A measure of exports also fell to ...

Copper rose on Friday, capping its biggest quarterly gain since late 2010, as the dollar weakened and a bullish trend in warehouse stockpiles boosted prices even as investors remained worried about the Chinese demand outlook. Copper rose 11 percent in the quarter, up more than any other quarter since surging of almost 20 percent in the fourth quarter of 2010. The first-quarter gain came on the heels of an 8-percent rise in the final three months of 2011, as European debt crisis fears receded and healthier economic signals in the United States helped drive investment demand at a time when fears about an impending slowdown in China, which accounts for about 40 percent of global copper demand, have escalated. Analysts were skeptical about whether copper could post its third straight ...