Massive Positions In The Long

Sunrise Market Commentary - Fixed Income: Hunt for yield - Following horrible French and German PMI readings, core bonds set new highs. The German 10-yr yield set an all time low at 1.35% and this initiated for the first time a “hunt for yield” trade into Belgian, Austrian and French bonds. The trade was most visible at the longer end of the curve, resulting in a bull flattening. - Currencies: Another day, another new correction low for EUR/USD - On Thursday, the decline of EUR/USD was extended. However, given the flood of negative news, the damage could have been worse. EUR/GBP struggles to hold above the 0.8000 barrier. Today, the calendar is thin. However, one can expect investors to stay cautious going into a long weekend. This is no help for the euro The Sunrise ...

www.sunbirdfx.com Another day of battle between the sellers and the buyers in Wall Street has passed by, as the sellers are still on the upper hand. In fact, the continuation of the bearish momentum was expected after the indices made bearish reversal patterns on Tuesday. The new home sales data came out better than expected but this did not help the stock to rise, as today's main data is the continuing jobless claims. The declines of the stocks caused sharp weakening of most of the major currencies, except the USD. Therefore, we see many oversold/overbought pairs and we see less accurate patterns in the daily chart. What you should do in these kinds of situations is to wait for corrections or trade in the intraday charts and look for quick trades, although it can be more dangerous. EUR/ ...

Forex News and Events: It has taken two-and-a-half years, and nearly USD 300bn of IMF/EU funds for markets to finally weigh in a more probable than not exit of the debt-laden country. Greece’s EMU exit is imminent for the second time in the last six months. Surprisingly though, the trigger for the recent gloomy expectations for Greece was not exclusively of an economic nature but also politics. During May 6 elections, the Greeks expressed their unwillingness to abide by the agreed-upon austerity measures. It wouldn’t have been a very dangerous position had Greece been solvent, but regardless of EU officials’ reassurance of continued help for Greece throughout the process, the country would run out of funds for the next installments due end of June and early July. In addition to markets ...

Following weeks of speculation regarding how Facebook's debut on the New York Stock Exchange would turn out, investors were mildly disappointed with the social media site's performance on Friday night. Facebook closed out the week at 37.96, slightly below its opening price. What direction Facebook takes from here is a hotly debated topic among market analysts. Some are warning that the site may be overvalued already, and Friday's disappointing performance could be a sign of things to come. That being said, any moves by Facebook to expand its already massive subscribership could generate excitement in the marketplace which could help boost the value of this site. Economic News USD - Dollar Comes off 4-Month High vs. Euro The US dollar turned bearish against most of its main currency ...

Forex News and Events: Expectations are increasing for today’s ECB rate announcement and press conference. It's generally consensus that no major decision on interest rates or change in operations will come out of the ECB's meeting in Barcelona. There is a growing anticipation that Draghi will sound significantly more dovish considering the recent deterioration in Eurozone economic data. Also it has not been disregarded that President Draghi endorsed the theme of encouraging growth within the context of a broader fiscal compact. The market is also buzzing over the change in the meeting's location to in Barcelona this suggested that the ECB want to illustrate the gravity of the facing the EU periphery. FX risk appetite stabilized in the Asian session but only after a very hard day for USD ...

(Reuters) - World stocks rose for the third straight day on Tuesday and copper hit its highest level in nearly two months as investors' appetite for risky assets improved following solid U.S. and Chinese manufacturing data. The MSCI world equity index .MIWD00000PUS was up 0.1 percent at 0843 GMT (04.43 a.m. EDT), adding to a 1.5 percent surge in two sessions. But European stocks .FTEU3 were slightly down, with Spanish shares .IBEX falling 0.7 percent on concerns over the country's finances. "The mood is improving in the United States, but in Europe the temptation to book profits on stocks is high after the recent strong gains as doubts remain, particularly over Spain and Italy," Agilis Gestion fund manager Arnaud Scarpaci said. "People are switching to more defensive stocks, such as ...

(Reuters) - The yen hit a three-week high on Tuesday on a flurry of stop-loss buying that kicked in after investors reduced massive short positions built in recent weeks, though the broad trend for a weakening Japanese currency remained intact. The dollar tumbled from the previous day's peak of 83.31 yen to a session low of 81.55 after stop-loss trades were triggered in the 81.90-80 area, with traders citing sales by offshore leveraged funds and some Japanese investors. The fall was prompted after traders rushed to cover short positions, which according to the Commodity Futures Trading Commission hit a 4-1/2 year high in the week ending March 27. The greenback later recovered to trade flat at 82.06 yen, with investors saying it was simply taking a break after its February-March rally to ...

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 ...

(Reuters) - Asian shares fell on Friday and growth-linked currencies such as the Australian dollar were shunned after data showing shrinking factory activity in China and the euro zone heightened concerns about a slowdown in the global economy. Materials stocks such as miner BHP Billiton (BHP.AX) were prominent among the losers, but crude oil steadied after tumbling overnight and copper bounced off a 2-week low. Data on Thursday showed China's manufacturing sector activity shrank in March for a fifth successive month, while German and French manufacturing suffered a sharp decline that even the most pessimistic economists failed to predict. "Fears of a Chinese hard landing are on the rise; overdone we think," said Vincent Chaigneau, strategist at Societe Generale. "Concerns over Europe ...