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Improving Euro ZoneTitle:
Shares end Q1 on strong note; Europe, China eyed
Asian shares firmed on Friday, with the region's benchmark indices marking their best first quarter in over 20 years, as investors awaited a meeting on a possible euro zone firewall and Chinese data that may dictate market trends in coming months.
Bargain hunters are likely to lift European equity markets, with financial spreadbetters predicting major European markets .FTSE .FCHI .GDAXI to open up 0.6 to 0.9 percent. U.S. stock futures inched up 0.2 percent. .EU .L .N
MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS eked out a 0.3 percent gain, in positive territory after a two-day decline, but still off a one-week high hit earlier this week.
The index is set for a quarterly gain of nearly 12 percent, the best showing since the third quarter of 2010 and best ...
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Analysis: What oil worry? Options market slumps despite Iran risk
If the oil options market is to be believed, the risk of an abrupt, dramatic move in crude prices has rarely been lower.
Even as traders warn that a shock attack on Iran, a release of emergency oil reserves or a slowdown in Chinese growth could roil the market at any time, options prices suggest that demand for protection from such risks has fallen away.
The Chicago Board Options Exchange's Oil Volatility Index .OVX -- a measure of fear or optimism in the market -- has dropped more than a third this year to its lowest since the outbreak of fighting in Libya in February 2011, and is close to the weakest level since the launch of the index in 2007.
Option traders explain the apparent disconnect between broad oil market sentiment and options pricing by pointing to a shift in the tone of ...
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Gold retreats from 2-week high after U.S. orders data
Gold prices fell on Wednesday, unwinding the previous day's advance to a two-week peak, after data showing weaker-than-expected U.S. manufactured goods orders and cautious comments from an ECB official spurred a flurry of selling.
Bullion lost ground with base metals, crude oil, equities and the euro after the report showing a moderate, though disappointing, gain in February U.S. durable goods orders ignited selling.
"There's some dollar strength, it's also a risk-off kind of a day. We're seeing a lot of commodities down and stocks are down," said Rick Bensignor, chief market strategist at Merlin Securities in New York.
Spot gold was down 1.3 percent at $1,658.30 an ounce by 2:50 p.m. EDT (1850 GMT), after hitting its lowest since March 23 at $1,654.50 an ounce. U.S. gold futures for ...
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Global shares limp towards quarter end, yen rises
World stocks slipped and core government bonds steadied on Wednesday as investors trimmed positions before the end of a first quarter that has seen abundant central bank liquidity and improving economic data buoy a range of assets.
Such shifts were also evident in foreign exchange markets, where the yen's gains against the dollar was accentuated by Japanese exporters' sales of foreign currency before the March 31 end to Japan's fiscal year.
While European stocks fought a losing battle to stay in positive territory, futures indicated that U.S. stocks would open higher.
With comments this week by Federal Reserve Chairman Ben Bernanke keeping alive speculation about further U.S. monetary stimulus, analysts predicted U.S. data would be a focal point.
"The focus remains on growth indicators, ...
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Risk Appetite Springs Back to Life
Forex News and Events:
FX markets sprung to life yesterday after Fed chairman Bernanke’s afternoon comments. The chairman has been trying to play down the market’s expectations of an earlier than expected rate hike (2013 vs. 2014). He directed his comments on the pace of economic growth and stated that the current gains in job creation were not in-sync. The Chairman sounded unconvinced and cautioned that the rate of recent employment gains could be sustained unless economic expansion picked up significantly. There is clearly a divergence of opinion within the Fed, between those that are ready to pullback from QE and those that are looking for a reason to pull the trigger. Judging from the market’s reaction of bidding EURUSD higher, the argument for additional easing seems to be more ...
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Bernanke’s commentaries weaken USD
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
WORLD
Those hoping for less dovish commentary from Fed Chair Bernanke were mostly disappointed. Although he acknowledged the recent “genuine improvement” in the labour market, he again emphasised that the situation is still “far from normal”. What hurt the dollar most was Bernanke’s view that “continued accommodative policies” could help boost employment. This is a marvelously vague remark and open to interpretation. While it does not endorse the market’s recent decision to price in a rate hike as soon as in late 2013, it does not rule it out either. Furthermore, as our US economists point out, “continued” accommodation does not mean additional accommodation. As such, Bernanke was non-committal about the possible need for further asset ...
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Stocks rebound on hopes of further Fed stimulus
Asian stocks rebounded, with Japan's Nikkei hitting a one-year high, and the dollar struggled on Tuesday after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment.
Europe's major equity markets were also poised for gains, with Euro STOXX 50 index futures opening up 0.7 percent, while financial spreadbetters called London's FTSE .FTSE to start trading 0.2-0.3 percent higher. .EU .L
Wall Street stocks had risen more than 1 percent on Bernanke's comments, which supported views that easy monetary policy would remain in place for some time despite signs of improvement in the U.S. economy and fanned hopes for more asset purchases by the U.S. central bank.
"It was more a reminder that the Fed stands ready to turn on the printing ...
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Asian stocks rebound as Bernanke soothes investors
Asian stocks rebounded on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement.
Wall Street stocks had risen more than 1 percent on Bernanke's comments, which supported views that easy monetary policy would remain in place for some time and fanned expectations for more asset purchases by the U.S. central bank.
Global equities have been rallying since late last year, partly due to steadily improving U.S. economic data and massive doses of liquidity from central banks, but hit a bump in mid-March after China signaled its growth was moderating.
"We are clearly addicted to this highly liquid market, and Bernanke has reassured that it ( ...
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Euro Falls vs. Dollar, Erases Gains vs. Yen, Investors Afraid of Debt Cris
The euro fell against the US dollar on concerns that the debt crisis may again threaten to spread across Europe. The currency also pared its gains versus the Japanese yen, which were caused by improving business climate in Germany.
Eurozone finance ministers are scheduled to meet in Copenhagen on March 30 to discuss possible methods for reinforcing financial firewall against the crisis. Italian Prime Minister Mario Monti made Forex traders nervous ahead of the meeting as he said that Spain may reignite the debt crisis and stated that “it doesn’t take much to recreate risks of contagion”. The euro slipped, following the earlier gains against the yen on the improving German business climate.
EUR/USD fell from 1.3270 to 1.3235 as of 11:21 GMT today, while daily minimum was 1.3192. EUR/JPY ...
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