Confidence In Their Ability To Find

Major European PMI Manufacturing data misses expectations; German IFO Business Confidence falls for the first time in 7 months Economic Data (RU) Russia Gold & Forex Reserve w/e May 18th: $514.3B v $518.8B prior (DE) Germany Q1 Final GDP Q/Q: 0.5% v 0.5%e; Y/Y: 1.7% v 1.7%e; GDP WDA Y/Y: 1.2% v 1.2%e (DE) Germany Q1 Private Consumption: 0.4% v 0.2%e; Government Spending: 0.2% v 0.3%e; Domestic Demand: -0.3% v 0.0%e; Capital Investment: -1.1% v -0.3%e; Construction Investment: -1.3% v -0.4%e; Exports: 1.7% v 0.9%e; Imports: 0.0% v 0.3%e (CH) Swiss Apr Trade Balance (CHG): 1.3B v 1.9Be; Real Exports M/M: -0.9% v +0.2%e; Real Imports M/M: 2.6% v 5.9% prior (FI) Finland Apr PPI M/M: -0.1% v +0.4% prior; Y/Y: 1.4% v 1.4% prior (FI) Finland Apr Preliminary Retail Sales Volume Y/Y: -2.0% v ...

(Reuters) - Riskier assets retreated broadly on Wednesday as hopes for fresh measures to tackle the euro zone debt crisis faded and caution set in ahead of a meeting of European leaders, with sentiment hurt by renewed fears Greece would leave the euro bloc. European shares also looked likely to slump, with financial spreadbetters predicting major European markets .FTSE .FCHI .GDAXI would open as much as 1.5 percent lower. U.S. stock futures were down 0.5 percent. .EU .L .N Shares, commodities, commodity-linked currencies and the euro all slid, while safe-haven demand lifted the dollar index .DXY measured against major currencies up to 81.830, its highest since September 2010. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 2.0 percent. It had risen 1.1 ...

Fundamental Analysis EUR "Industrial producion is a imely reminder that firstquarter GDP will likely show a contracion." - Marin van Vliet, an economist at ING Industrial producion in the Eurozone contracted unexpectedly in March, Eurostat data showed on Monday. Producion fell 0.3 per cent from February, when it rose 0.8 per cent. USD "The fear factor is definitely higher." - Madelynn Matlock, a fund manager at Hunington Asset Advisor U.S. stocks retreated on Monday on a poliical impasse in Greece. GBP "I can’t see even after the next Greek election a government appearing that will be able to do anything else than perhaps manage the Greek exit." - Simon Sole, chief execuive officer of Exclusive Analysis Ltd. U.K. stocks tumbled on Monday. The benchmark FTSE 100 Index fell 1.97%, or ...

The European Commission supported volatility to extend in the market amid the current deteriorating sentiment in the market, where the Commission revised growth forecast lower for the euro-area region adding concerns the current austerity-linked solution is weighing sharply on growth, forcing more pressures on lawmakers to find another way around to hammer that debt crisis as well as boosting growth, but without adopting further austerity. The critical economic situation in Europe is worsening and getting more complicated, where lawmakers cannot find a way to fight the debt crisis without affecting growth aspects, where the sharp austerity adopted across Europe has brought a technical recession confirmed in most of the nations in the euro zone, fueling the debt crisis to expand further ...

Base metal markets slid on Tuesday, with copper prices in New York notching their biggest fall in a month, as fears that Greece's hard-fought bailout deal could unravel hit the euro and raised concerns about demand for industrial metals. European jitters roiled broader markets too, with gold shedding almost 2 percent and crude oil futures dropping almost 1 percent. U.S. stocks hit two-month lows and the euro fell for a seventh straight session. The dollar rose and U.S. Treasuries rallied on safe-haven buying. Funds and institutional investors led selling in metals markets, cutting exposure to assets considered risky and seeking to raise cash, traders said. Three-month copper on the London Metal Exchange (LME) ended at $8,095 a tonne, down almost 1 percent from Friday's close of $8,175 a ...

(Reuters) - European shares snapped a four-day rally and the single currency was under pressure on Monday as signs of a deepening euro zone recession raised suggestion that the region's governments could soften their approach to tackling budget deficits. U.S. shares were also set for a weaker start on the renewed euro zone concerns but investors were also focused on the weaker-than-expected reading on domestic economic growth. .N In the euro area trading was light ahead of May Day holidays on Tuesday, elections in France and Greece at the weekend and a European Central Bank meeting on Thursday where policymakers will have to consider the region's worsening economic health. "Market stresses have re-emerged in the euro area on concerns that deficit reduction targets may be sabotaged by a ...

U.S. Review Look Past the Monthly Volatility and See the Trend This week of economic releases painted a somewhat mixed picture, but the underlying trend still reflects an economy that is growing at a modest pace. The milder-than-usual winter likely brought some activity forward and below-consensus readings are due in part to payback. Housing starts, existing home sales and industrial production all posted disappointing readings in March that are likely not indicative of the underlying trend. Headline retail sales, however, came in more than double the consensus estimate in March, ending the first quarter on a positive note. Early Spring Brings Payback Period The full week of economic releases painted a somewhat mixed picture, but the underlying trend still reflects an economy ...

Sunrise Market Commentary Fixed Income: Core global bonds remain well bid, but fail to profit from weak data While the Bund set a new contract high, the price action showed little momentum. Rumours about a French rating downgrade gave core bonds a shot in the arm, but subsequent weak eco data were largely ignored, triggering some profit taking in late US session. Currencies: Break lower in EUR/GBP confirmed Also in EUR/USD rather dull session leaving the pair little changed in the close. Intra-day decline on French rating rumours was later on reversed. Upcoming IMF meeting, French presidential elections and FOMC meeting might keep investors sidelined today. The Sunrise Headlines US Equities dropped for a second straight session on Thursday. The S&P fell 0.59% as weak ...

Weekly Economic and Financial Commentary U.S. Review Housing Indicators Pulled Back, but Don't Be Alarmed This week, the economic calendar was chock-full of housing market data. While housing indicators painted somewhat of a mixed picture, with nearly all housing market indicators unexpectedly declining on the month, we continue to see real improvement. That said, much of the pullback was due to the mild winter, which likely exacerbated the seasonal adjustment process. Housing starts unexpectedly fell 1.1 percent to a 698,000-unit pace in February. January starts, however, were upwardly revised to a 706,000-unit pace, the highest level since October 2008. Housing Indicators Pulled back, but Don't Be Alarmed This week the economic calendar was chock-full of housing market data. ...