Most Interesting Is The Movement

Markets focus to see whether the ECB paves the way for further easing Economic Data (RU) Russia Gold & Forex Reserve w/e Apr 27th: $523.3B v $519.5B prior (IN) India Apr Markit Services PMI: 52.8 v 52.3 prior (UK) Apr Nationwide House Prices M/M: -0.2% v +0.5%e; Y/Y: -0.9% v -0.3%e (IE) Ireland Apr NCB Services PMI: 52.2 v 52.1 prior (CH) Swiss Q1 UBS Real Estate Bubble Index: 0.95 v 0.80 prior (HU) Hungary Feb Final Trade Balance: €691.2M v €690.1M prelim (TR) Turkey Apr Consumer Prices M/M: 1.5% v 1.4%e; Y/Y: 11.1% v 11.0%e; Core CPI Y/Y: 0.1% v 7.9% prior (TR) Turkey Apr Producer Prices M/M: 0.1 v 0.4% prior; Y/Y: 7.7% v 8.2% prior (BR) Brazil Apr FIPE CPI: 0.5% v 0.2% prior (UK) Apr PMI Services: 53.3 v 54.1e (HK) Hong Kong Mar Retail Sales Value Y/Y: 17.3% v 14.0%e; Retail Sales ...

Market Drivers - Currencies Today's Comment The most important events today are the monetary-policy meeting at the Riksbanken as well as minutes from the monetary-policy meeting at the Bank of England. Regarding the Riksbanken we see a 50/50 probability that the interest rate will be cut by 25 bp. If this becomes a reality, EURSEK will increase (SEK depreciation) and test the important level around 896. If it is breached at this level, this is a good probability of a major stop/loss-driven movement against the upside since we anticipate that the investors who sold EURSEK at lower levels will pull out. Investors are generally short in EURSEK (purchased SEK). Regarding the minutes from the Bank of England, it will be interesting to see the comments from the individual members and the ...

Weekly Economic and Financial Commentary : 04/03/2012 U.S. Review A Better Tone to the Data but Growth Remains Sluggish The economic data clearly have a better feel to them but there is no evidence of a sudden break out to the upside. Fourth quarter real GDP was revised up to a 3.0 percent annual rate and inflation was also revised slightly higher. Personal income came in slightly below expectations but upward revisions to previously published data put the saving rate at 4.6 percent in January, well above the earlier reported level of 4.0 percent. Manufacturing data were mixed, with orders down but purchasing managers' surveys remaining strong. Lots of Good News but Still Only Modest Growth We received a full complement of economic reports this week, providing new intel ...

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Dow down slightly yesterday. Oil falling further below $100. And gold still going up. What is most interesting is the movement in the price of gold. It seems to be heading up again — almost no matter what else is happening. So, let’s look at what might be going on… If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise. This would raise consumer prices; the price of gold should go up. But if the market sees growth and inflation ahead, why is oil slipping? And why is the Baltic Dry Index — which measures shipping prices — at a 25-year low? And how come last month’s employment figures were disappointing? And why aren’t stock market prices going up? Most important, if the economy is really recovering, why is the 10-year ...

The combination of a worse than expected Italian debt auction and the credit downgrading of several euro-zone countries on Friday, caused the euro to slip to fresh lows once again before markets closed for the week. Today, with US markets closed for a bank holiday, trades will want to pay close attention to any news out of the euro-zone, particularly the speech from the ECB President scheduled for 18:00 GMT. Economic News USD - USD Stages Reversal to Close out Week After taking mild losses against its main currency rivals for the majority of last week, the USD was able to rally on Friday, as poor euro-zone news caused traders to shift their assets to safe-haven currencies. The EUR/USD hit a fresh 16-month-low after credit ratings for a number of euro-zone countries were downgraded. In ...

www.sunbirdfx.com Wall Street continued the bullish momentum yesterday and so did the commodities market. The gold has completed a rally of 6% since the beginning of the week and the crude oil price rose the percentage as well. It will be interesting to see if this positive atmosphere in the markets will remain after the employment data tomorrow. USD/CHF The risings of the stocks weakened the USD against most of the currencies, but the CHF was not one of them. It looks like that the investors are afraid to invest in the CHF, mainly because of a possible intervention of the SNB. The break-up level of 0.93 has become a stable supporting level in the last few weeks. The impression is that strong buyers are picking the USD each time it gets to 0.93, and this might indicate for the pair's ...

www.sunbirdfx.com The FOMC left the interest rate under 0.25% as the market expected, but Bernanke's gray forecast pulled the indices down. In spite a positive opening, the indices shed 0.5%-0.9% at the end of the day. On the technical aspect, we keep reminding that there are two wide-opened gaps from below, that pulls the stock market down. In fact, the major indices penetrated to the gap's zone and the target is the gap's closing level. In the S&P 500, the closing level is around 1200 points, which is 2% below yesterday close. GBP/USD The disagreements between the British PM and the EU leaders are disturbing the investors around the world. Britain does not want to sign up on agreement that will allow others to interfere in its domestic business. On the other hand, the Eurozone ...

Forex News and Events: Risk appetite remained restrained following comments by German Chancellor Merkel that a joint euro bond was the "wrong solution". Merkel then went on to say that the ECB "can choose its own means of currency stability". ECB President Draghi defended the ECBs independence, but suggested that some degree of flexibility as he said 'other elements' could track if there is a 'fiscal compact, binding governments to stronger public deficit and debt rules'. Risk currencies continued to find buyers as the coordinated central bank action has spurred hope that European policymakers will announce a cure all next week. EURUSD rallied in mid Asia session from 1.3450 to 1.3481 while AUDUSD rose from 1.0208 to 1.0255. Asian equities indices were mixed with the Hang Seng up 0.67% ...