Coin Sales Hit

Sunrise Market Commentary - Fixed Income: Risk off pushes German bond yields to new lows - Risk off sentiment pushed core bonds higher and non-core bond yield spreads re-widened substantially. The Summit didn't bring new information, but another hole found in Spain's regions' budgets might get attention today. - Currencies EUR/USD cedes the 1.2624 support - On Wednesday, the EMU debt crisis was again omnipresent. Markets feared that the EU leaders wouldn't be able to take decisive action to address the debt crisis. Extreme risk aversion pushed EUR/USD to a new low for 2012. The losses of EUR/GBP were more contained, as poor UK retail sales and rather soft BoE minutes kept the door open for more policy stimulation. The Sunrise Headlines - In the final hour of trading, US ...

Gold fell almost 1 percent on Friday as fears over a worsening European debt crisis and sharp losses in equities and commodities sent the precious metal to its biggest weekly decline this year. The metal came under heavy pressure as disclosures of huge trading losses at JPMorgan Chase & Co (JPM.N), a major bullion trader, dented sentiment among gold investors. Sharp losses in crude oil and copper also offset surprisingly robust U.S. consumer confidence data. Political uncertainty in Greece and a change of leadership in France this week had investors doubting whether Europe would come through with the billions of euros needed to bail out its troubled economies. Spanish bank worries also added to debt fears. "Everybody's looking in Europe trying to figure out what's going on there, so you ...

Gold prices fell to a four-month low on Friday as worries over the financial health of Greece and Spain and huge trading losses for JPMorgan hurt stock markets and the euro, prompting investors to seek refuge in the dollar. Investors liquidated gold holdings to cover losses on other markets, analysts said, as a rise in risk aversion sparked selling across assets seen as higher risk, while lifting the U.S. currency and safe-haven German Bunds. Spot gold slid to $1,573.29 an ounce, its weakest since January 3, after support gave way at $1,579, and was down 0.7 percent at $1,582.19 an ounce at 1145 GMT. Prices pared the worst of their losses as hopes that a Greek government may be formed soon lifted the euro from lows, but spot prices were still down nearly 4 percent so far this week, ...

Gold eased on Monday after elections in France and Greece at the weekend reflected strong anti-austerity feeling and raised concerns over the euro zone's ability to battle its debt crisis, knocking the euro to a three-month low versus the dollar. Greek voters in particular rejected the austerity-for-aid policies that have shielded the country from bankruptcy and a euro exit, dealing a serious blow to the euro zone's fragile political consensus on debt. Assets seen as higher risk, like stocks and commodities, came under pressure along with the euro. European stocks slumped to 4-1/2 month lows, Brent crude oil fell to its lowest since January, and safe-haven German Bund futures hit record highs. Spot gold was down 0.1 percent at $1,639.60 an ounce at 0942 GMT, having earlier dropped as ...

(Reuters) - Gold prices slipped back towards $1,550 an ounce on Friday, ending the metal's three-session rally, as a ratings downgrade of debt-laden Spain pressured the euro, and consumers in major Asian bullion-buying centers shunned the precious metal. Spot gold was down 0.2 percent at $1,653.90 an ounce at 0935 GMT, while U.S. gold futures for June delivery were down $5.60 an ounce at $1,654.90. Gold rose 0.7 percent on Thursday after the U.S. Federal Reserve pledged to keep interest rates, and consequently the opportunity cost of holding gold, at rock bottom for an extended period. But Standard & Poor's two-notch credit rating downgrade on Spain raised risk aversion in the markets on Friday, knocking the euro versus the dollar. Gold has a close negative link with the U.S. unit, ...

China HSBC flash PMI recovers but still in contraction; Weak Aussie PPI points to rate cut; Dutch govt collapses Economic Data (CN) CHINA APR HSBC FLASH MANUFACTURING PMI: 49.1 V 48.3 PRIOR (6th month of contraction) (AU) AUSTRALIA Q1 PRODUCER PRICE INDEX (PPI) Q/Q: -0.3% V +0.5%E (first decline since Q4 of 2009); Y/Y: 1.4% V 2.2%E (lowest since Q2 of 2010) (SG) SINGAPORE MAR CPI M/M: 0.8% V 0.3%E; Y/Y: 5.2% V 4.7%E (JP) JAPAN MAR NATIONWIDE SUPERMARKET SALES Y/Y: -2.4% V +0.3% PRIOR (JP) JAPAN FEB FINAL LEADING INDEX: 96.3 V 96.6 PRELIM; COINCIDENT INDEX: 95.0 V 93.7 PRELIM (HU) HUNGARY APR ECONOMIC SENTIMENT: -19.3 V -19.0 PRIOR; BUSINESS CONFIDENCE: -9.0 V -8.1 PRIOR; CONSUMER CONFIDENCE: -48.8 V -49.9 PRIOR Markets Snapshot (as of 04:30GMT) Nikkei225 -0.1% S&P/ASX -0.2% Kospi -1.2% ...

(Reuters) - The euro retreated from two-week highs against the dollar on Monday, pausing after its best weekly performance since February and drawing limited support from the weekend decision to double the International Monetary Fund's war chest. Worries about upcoming debt auctions in Italy and the Netherlands and concerns about a possible political backlash against austerity measures could keep the single currency in check in coming days, traders said. The Australian dollar slid after local producer price data cemented expectations of a rate cut by the Reserve Bank of Australia next week while sterling clung to its newfound market-darling status in the wake of upbeat UK retail sales data. "The increase in the IMF is just a safety net. That alone is not enough to boost risk assets," ...

The Week Ahead Highlights Shift in FX drivers may provide support for the USD Budget D-day for Osborne The ECB's tough talk Shift in FX drivers may provide support for the USD This week U.S. Treasury yields broke out of their ranges and rocketed higher. 10-year yields rose nearly 28bps since Monday and advanced above the 200-day sma for the first time since July to reach current levels of around 2.31%. U.S. equity markets rallied significantly as well this week with the S&P 500 closing above 1400 for the first time since 2008 while the Dow Jones Industrial Average traded at levels that have not been seen since 2007. At the same time, the USD gained against its major counterparts most notably against the Japanese yen. This may be the start of a significant shift in FX ...

(Reuters) - Gold retreated on Friday, shrugging off gains in the euro and struggling to maintain traction after this week's already hefty price climb, as buyers favored assets seen as higher risk such as stocks and industrial commodities. Prices are still heading for a second monthly gain, however. Silver outperfomed other precious metals to hit a fresh five-month high, after breaking a key technical level on Thursday. Spot gold was at $1,775.94 an ounce at 1300 GMT against $1,779,79 late on Thursday. The euro hit a 2-1/2-month high against the dollar, building on gains it made a day earlier after improved German business sentiment data and on lingering relief over an agreement for a second bailout of Greece. A consequently weaker dollar would usually weigh on gold. However, ...