Eur/gbp Traded Between

Sunrise Market Commentary - Fixed Income: German yields set record lows - Depressing April PMI's and unemployment data in the EMU set the tone for a risk off session. Core bonds surged higher and the German Bund future reached a new record high. In the US session, US equities rebounded and triggered profit taking in US treasuries. German bonds stayed near the highs however. - Currencies: Awful EMU PMI data hit the euro - The focus in currency trading shifted from the US to Europe. On Tuesday, EUR/USD declined due to dollar strength in the wake of the ISM release. On Wednesday, an awful set of EMU data triggered a next selling wave. EUR/GBP continues to set new lows, too. We doubt that the Draghi press conference will be able to change the course of events The Sunrise ...

Sunrise Market Commentary - Fixed Income: Small changes after volatile trading - Core bonds traded volatile due to economic data and bond auctions. The Fed had the final saying. The FOMC statement showed that the Fed was slightly more optimistic on growth and the governors more hawkish in their rate forecasts. However, policy remains unchanged and Bernanke kept the door for more QE open. - Currencies: Fed doesn't help the dollar - On Wednesday, trading in most major currency cross rates was confined to recent ranges. EUR/USD is holding near the recent highs. The Fed kept a soft tone and this was a slightly negative for the dollar. Sterling lost temporary ground as Q1 GDP data showed that the UK has slipped back into recession. However, the EUR/GBP 0.8222 resistance did its job. ...

www.sunbirdfx.com Wall Street closed the trading day near the opening level but with strong bullish signal. The stocks trades on the negative territory most of the day, as the indices were 0.5% down, but a powerful rally on the last half-hour took the indices above the opening levels. Before the opening bell, the retails sales data published and showed a disappointing growth of 0.4%, whereas analysts expected an increase of 0.8%. Today are published the TIC Long-Term Purchases and the FOMC meeting minutes. EUR/GBP The German ZEW Economic Sentiment surprised yesterday and the survey showed optimism among the leading German institutional and analysts regarding the economy. However, this did not help the EUR, which continued the correction from Monday and it is getting close to a ...

As investors reduce their exposure to higher yielding currencies the USD has become the overwhelming favorite. Economic News USD - US Sovereign Credit Rating Affirmed by Moody's and S&P After the US congressional super committee failed to come to an agreement both Moody's and S&P left the US sovereign credit rating unchanged while Fitch will release its decision later in the month. Expectations are for Fitch to put the US on review for a potential downgrade. In the wake of the failure of the congressional super committee to agree to a deficit reduction plan there will be 1.2 trn combined mandatory budget cuts from the military and an expiration of tax savings and unemployment benefits. Despite the failure of the US government to agree to any program that would put the US on a path of ...

At the end of this week, currencies are trading heavily ahead of the coming week, where investors are closing their positions after the huge gains seen across the board, where optimism spread in the market after European leaders were able to quell jitters and rising debt woes and also after gross domestic product figures from the world’s largest economy showed that growth expanded beyond expectations, which supported optimism to extend on hopes that global growth is gathering positive momentum. Over weekly basis, the euro gained the most against the U.S. dollar, after the comprehensive plan from European lawmakers showed determination and firm actions to overcome the debt crisis; however, concerns are rising with eyes focus on the implementation of these measures and steps. The euro was ...

www.sunbirdfx.com The Financial markets are backed to to the extreme hysteria that they had just two months ago. The past week was the worst in Wall Street since 2008 and it looks like that the economic situation of many countries is even worse than it was on the subprime crisis. The world has accepted the fact the bankrupt of Greece is inevitable and analysts are trying to estimate how the "day-after" will be. The S&P 500 was closed on Friday near the support of the round number 1100 points, but it looks like that nothing can prevent it from breaking this support down. When it breaks, many automatic orders will be triggered and it might fall sharply to the next support at 1000 points, which is a number with a psychological meaning to the markets. Investors will wait for Bernanke's ...

The relief rally the US dollar received was short lived following the compromise between Democrats and Republicans to increase the US debt ceiling. All of the majors are higher versus the USD with equity markets also posting solid gains. Given last week's poor Q2 GDP report traders may be positioning for another round of quantitative easing from the Fed though the bar for additional easing remains high. Traders took only a short pause in their dollar selling while market players continue to move into the safe haven currencies as the threat of a US credit rating downgrade by S&P looms and European peripheral bond spreads remain elevated. The USD/CHF is within striking distance of Friday's low and the yen has rebounded from this morning's initial spike higher to 78 in the USD/JPY. The ...

The price of precious metals like Gold, Silver, and Platinum found support this past week despite the rising strength of the US dollar, the currency in which such assets are valued. Gold has been trading with rather mild price action since this past April, but traders have been awaiting price resurgence due to the rampant increase in risk aversion due to rising tensions from Greece and dismal jobs reports out of the US. So far, this resurgence appears to be gaining momentum as these words are being written. Economic News CAD - CAD Losing Steam as US Recovery Outlook Weakened The Canadian dollar was seen in decline last week as traders began to view the lackluster performance of the US economy these past several weeks as a sign that regional economic growth will be limited. The USD/CAD ...

www.youtradefx.com EUR/USD : Three straight days of steep price drops have brought the euro – United States dollar down from levels of 1.4700 to levels of 1.4300, which, apparently, is a reaction to debt crisis in Greece and temporary weakness in the financial markets. The pair's technical picture shows that the wave of drops stopped exactly at the last but one record level that created an important resistance level within the price range of 1.4300. From this level, the euro – US dollar is expected to renew its upward movement towards two central targets. The first represents the short term price target that can be found placed at the resistance level of 1.4700 and the second represents the long term price target that can be found placed at the significant resistance level of 1.5150 euro ...