Brent Extends Gains

Sunrise Market Commentary - Fixed Income ECB can't move global bonds - Global core bonds ended the session unchanged, as initial disappointment that the ECB wasn't more dovish dissipated fast. Today's payrolls are key and might decide whether the 6-week rally is over or has one more leg. Currencies: Major currency cross rates little changed ahead of the payrolls - EUR/USD gained temporarily during the ECB press conference as Draghi was less dovish than some in the market had expected. However, the move was technically insignificant as sentiment on risk remained fragile. Today, the payrolls are the key factor for (currency) trading. Investors might stay cautions on the euro to avoid this weekend's political event risk. The Sunrise Headlines - US Equities dropped for a ...

(Reuters) - The euro dipped against the dollar and European shares inched higher on Thursday as nervousness grew ahead of an Italian debt sale that will gauge whether concerns over Spain are spreading to other debt-laden euro zone nations. Data on industrial production across the euro area, which is likely to show it contracted by 0.3 percent in February, could also reignite fears that weak growth at a time of government austerity measures is undermining efforts to repair the region's finances. Ahead of the Italian auction the euro fell to a low of $1.3102 before recovering to be steady at $1.1315, below a one-week high of $1.3158 struck on Wednesday, and within the $1.3030-$1.3165 range trodden in the past week. "Should the Italian auction disappoint, we could see the euro reverse some ...

Fundamental Analysis EUR "We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident" - Wolfgang Schaeuble, German Finance Minister “We still have a bit of work to do,” German Finance Minister Wolfgang Schaeuble said as he arrived for the meeting of euro area finance chiefs. “We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident.” USD "We have the U.S. economy accelerating with the job data and housing data also beginning to look pretty good" - Peter Garnry, an equity strategist at Saxo Bank A/S U.S. stocks climbed on Friday. The S&P 500 advanced 0.23%, or 3.19, to 1,361.23. The Dow Jones Industrial Average increased 0.35%, or 45.79 points, to 12,949.87. GBP "Upwards price-pressure is likely to be maintained in 2012" - Miles ...

Brent crude extended gains above $113 on Friday after data showed the U.S. economy created jobs at the fastest pace in nine months in January, spurring hopes this could stimulate demand at the world's top consumer. A warning by Iran's supreme leader of retaliation over an oil embargo "at the right time" also supported oil prices. By 1440 GMT, front-month Brent crude was up $1.63 at $113.70 a barrel, gaining for a fourth consecutive day. U.S. crude rose by 64 cents to $97.00 a barrel, reversing five straight sessions of losses. U.S. nonfarm payrolls jumped by 243,000 versus expectations for a gain of only 150,000 in January. U.S. unemployment rate also dropped to a near three-year low of 8.3 percent, indicating last quarter's growth carried into early 2012. "The jobs number came much ...

(Reuters) - Brent crude pared losses on Thursday helped by better-than-expected U.S. manufacturing data, while Goldman Sachs (GS.N) warned of a possible sharp drop in demand on increasing signs of economic slowdown in Europe. Concerns over an immediate loss of Iranian crude eased as European Union foreign ministers, while agreeing on the need for new sanctions against Iran, fell short of immediate action that could have included a ban on imports of its oil. Brent crude dipped by 7 cents to $110.45 a barrel by 1531 GMT, having started December on a weaker tone. U.S. crude bounced to $100.89 a barrel, up 53 cents, after the Institute for Supply Management (ISM) showed the pace of growth in the U.S. manufacturing sector picked up in November to its strongest level since June. "The ISM ...

(Reuters) - Brent crude rose on Wednesday, extending gains to more than 12 percent over the past six sessions, lifted by news Slovakian lawmakers will approve a plan to expand powers in the euro zone rescue fund. Gains in the international benchmark came as U.S. crude came under pressure, sending Brent's premium to over $26 a barrel for the first time since mid-September. Brent has also found support from production problems in OPEC member Nigeria. Analysts also cited the $80 billion Dow Jones-UBS Commodity Index's .DJUBS decision to add the contract to its components next year as another factor giving short-term support. Early trade saw oil and stock markets rising on positive news out of the euro zone, where the debt crisis has kept markets under pressure for months. The Slovak ...

(Reuters) - Asian stocks fell on Wednesday and the dollar wavered after uninspiring comments from Federal Reserve Chairman Ben Bernanke added to worries about the slowing global economy. European shares were also expected to fall, extending their losing streak to a sixth straight session, tracking weakness in Asia and on Wall Street. Financial spreadbetters expected Britain's FTSE 100 .FTSE and Germany's DAX .GDAXI to fall as much as 0.5 percent and France's CAC 40 .FCHI to open down as much as 0.6 percent. Bernanke acknowledged an economic slowdown in the United States, but offered no suggestion of further stimulus to support growth, souring sentiment across equity markets and toward the dollar as investors expect U.S. interest rates to remain low for a longer period of time. The ...

(Reuters) - Oil prices fell on Monday, pressured by a stronger dollar and erasing early gains as optimism over a debt bailout for Ireland gave way to concerns that financial problems would spread to other euro zone countries. U.S. gasoline futures also slumped, extending the pressure on crude futures amid expectations that refinery restarts and imports from Europe will relieve tight supplies in the New York Harbor region, the delivery point for the U.S. gasoline futures contract. U.S. crude for January delivery fell $1.22 to $80.75 a barrel at 12:47 p.m. EST. In London, ICE January Brent crude fell $1.20 to $83.14 a barrel. "Crude oil is down in reaction to the dollar, which is firmer," said Phil Flynn, analyst at PFGBest Research in Chicago. "There is concern about contagion in the ...