Markets Await More Information

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 ...

Oil prices are fundamentally determined by the level of inventories according to the supply/demand factor like any other good and service, but as the year progresses, oil price seem to be further contaminated with fears about slowing global growth - possibly crimping demand for crude. As a matter of fact, the Chinese economy cooled in the first quarter with a drag from external demand, the euro zone economy is struggling to rebound from recession and increasing debt woes, while the world's largest economy is seemingly getting a grip amid signs of recovery. Household spending in the United States continued to show moderate improvement in the face of rising fuel prices; however the Federal Reserve last week signaled the long-term outlook of the biggest part of the economy may be smudged by ...

(Reuters) - Brent crude held steady above $120 on Thursday as a weaker dollar helped recoup losses made earlier in the day, while comments from the Federal Reserve and the European Central Bank eased worries about growth in oil demand. The Fed said the economy expanded modestly in January through mid-February as hiring picked up a bit across several districts. Across the Atlantic, comments by a European Central Bank official on keeping a bond-buying program as an option to help Spain eased worries about the region's fiscal woes. Brent crude rose 31 cents to $120.49 a barrel by 4:23 a.m. EDT (0623 GMT), after touching a low of $119.93 earlier in the session. Oil rose 37 cents to $103.07, adding to $1.68 gains in the previous session. The dollar .DXY weakened 0.25 percent against a basket ...

Weekly Economic and Financial Commentary U.S. Review Nonfarm Payroll Report Continues to Show Progress The big headline for the week was the nonfarm payroll report which showed the labor market added 227,000 jobs in February with the unemployment rate unchanged at 8.3 percent. The private sector added 233,000 jobs with the largest gains in temporary help, manufacturing, education & health and leisure & hospitality. The real trade deficit of the United States widened in December to -$49.1 billion from -$48.3 billion. While much of the drop was due to an increase in petroleum prices, we expect trade to be a drag on first quarter economic growth. Positive Jobs Report Continues to Support Growth This week's economic indicators continued to signal a moderate pace of economic ...

Oil was lower for a third straight day on Wednesday after a larger-than-expected increase in crude oil inventories last week, at a time when refinery activity slowed sharply, indicated weaker demand in the world's largest oil consumer. Prices were higher earlier on news that the European Central Bank (ECB) had allocated more than $500 billion for low-interest loans. Worries that global oil markets might be short of fuel as the United States and Europe impose sanctions on Iran limited the day's losses. U.S. crude inventories leaped 4.16 million barrels in the week to February 24, up for a second straight week, the U.S. Energy Information Administration said, dwarfing analysts' forecast in a Reuters poll for a 1.1 million barrel rise. At the Cushing, Oklahoma, delivery hub for U.S.- ...

Brent crude oil gained over $1 on Wednesday, snapping two days of sharp falls, on expectations that cheap loans from the European Central Bank will spur buying of riskier assets. Fears about supply disruption from Iran also pushed prices back towards 10-month highs. Front-month Brent rose $1.03 to $122.58 a barrel by 0926 GMT, after sliding $2.62 on Tuesday to settle at $121.55. Brent is up 10.5 percent this month, and is on track to post its strongest monthly gains since last February, though it has retreated from highs above $125 set last week. U.S. crude gained 56 cents to $107.11 a barrel. The contract slipped $2.01 to settle at $106.55. The ECB is expected to pump half a trillion euros into the euro zone's troubled financial system for the second time. "(Oil strength is due to) ...

(Reuters) - Brent crude held near six-month highs above $117 on Thursday on hopes that demand would pick up as Greece inched closer to getting its debt crisis under control, while concerns over supply disruption from the Middle East provided support. Investors expected Europe to approve a plan to resolve Greece's debt crisis even as leaders in Athens stopped short of agreeing on the austerity measures. Meanwhile, geopolitical risks worsened as violence in Syria escalated and Iran renewed a threat against the United States. Front-month Brent gained 20 cents to $117.40 a barrel by 2:38 a.m. ET, rising for an eighth straight day. U.S. crude added 33 cents to reach $99.04 a barrel in its third day of increases. "There is hope that the Greek debt crisis will be sorted out soon with an ...

(Reuters) - Brent crude held near six-month highs above $117 on Thursday on hopes of demand growth revival as Greece inched closer to getting its debt crisis under control while concerns over supply disruption from the Middle East provided support. Investors hope Europe will approve a plan to resolve Greece's debt crisis even as leaders in Athens stopped short of agreeing on the austerity measures. Geopolitical risks worsened as violence in Syria escalated and as Iran renewed a threat against the United States. Front-month Brent gained 36 cents to $117.56 a barrel by 1:34 a.m. ET, rising for an eighth straight day. U.S. crude added 45 cents to reach $99.16 a barrel in its third day of increases. "There is hope that the Greek debt crisis will be sorted out soon with an agreement on all ...

(Reuters) - Gold prices bounced back into positive territory on Tuesday, paring earlier losses in line with a rallying euro after a Greek official said the government is drafting an agreement on a second bailout. Spot gold was up 0.3 percent at $1,723.89 an ounce at 1502 GMT (10:02 a.m. EST), having earlier fallen as low as $1,709.29 an ounce, while U.S. gold futures for February delivery were up $1.70 at $1,726.60. A Greek government official said Greece's government is preparing the text of an agreement on a 130 billion euro bailout that will be put to political leaders for approval, suggesting Athens had largely wrapped up talks with lenders on the rescue. A conclusion to the discussions would likely to support gold, although it has struggled to maintain upward momentum as the ...