Profits Written By Forex

Germany said to be working on growth plan for euro zone Economic Data (EU) ECB: €3.8B borrowed in overnight loan facility vs. €3.8B prior; €760.9B parked in deposit facility v €765.9B prior (RU) Russia Narrow Money Supply w/e May 21st (RUB): 7.00T v 6.93T prior (SG) Singapore Apr Industrial Production M/M: -3.5% v +06%e; Y/Y: -0.3% v +4.1% prior (DE) Germany Jun GfK Consumer Confidence: 5.7 v 5.6e (FR) France May Consumer Confidence: 90 v 88e (ES) Spain Apr Producer Prices M/M: -0.8% v 0.0%e; Y/Y: 3.1% v 2.7%e (AT) Austria Mar Industrial Production M/M: +1.6% v -1.4% prior; Y/Y: +0.8% v -0.9% prior (CH) Swiss Q1 Non-Farm payrolls: 4.049M v 4.044M prior (DE) Germany May CPI Saxony M/M: -0.2%% v +0.1% prior; Y/Y: 1.9% v 2.0% prior (IT) Italy Mar Retail Sales M/M: -0.2% V -0.2%e; Y/ ...

Monti thinks Greece will remain in the EU; China slowdown fears return to front and center Economic Data (JP) JAPAN APR NATIONAL CPI Y/Y: 0.4% V 0.4%E; NATIONAL CORE CPI Y/Y: 0.2% V 0.1%E; TOKYO MAY CPI Y/Y: -0.5% V -0.3%E; TOKYO CORE CPI Y/Y: -0.8% V -0.5%E (20-month low) (KR) SOUTH KOREA MAY CONSUMER CONFIDENCE: 105 V 104 PRIOR (15-month high) (SG) SINGAPORE APR INDUSTRIAL PRODUCTION M/M: -3.5% V +0.6%E; Y/Y: -0.3% V +4.1%E (TH) THAILAND APR CUSTOMS TRADE BALANCE: -$2.9B V -$2.9BE (PH) PHILIPPINES MAR TRADE BALANCE: -$1.05B V -$562M PRIOR; TOTAL IMPORTS: $5.4B V $4.99B PRIOR Markets Snapshot (as of 05:00GMT) Nikkei225 +0.1% S&P/ASX -0.4% Kospi +0.6% Singapore Straits Times Index -0.3% Shanghai Composite -0.4% Hang Seng -0.3% June S&P Futures -0.2% at 1,320 June gold -0.3% $ ...

(Reuters) - World equity markets rose for a second consecutive day on Tuesday on hopes European leaders will tackle the region's debt crisis, but the euro fell on doubts that much would come of a meeting just a day away. European shares gained almost 2 percent on optimism European leaders may devise new measures to foster growth in the euro zone and restore a doubtful market's confidence. An informal summit of European Union leaders late on Wednesday is expected to discuss the idea of regional bonds jointly underwritten by all euro zone member states. However, Germany's long-standing opposition is unlikely to change; the country has dismissed the French-led call for the euro zone to issue common bonds. "The string of summit meetings that have been called to address the euro crisis thus ...

Sunrise Market Commentary - Fixed Income: limited profit taking on core bond markets - Global core bond markets fell prey to some profit taking in a thin, dull trading session. However, given the strength of equities, bond losses were very limited and occurred at the onset of trading. Today, the eco calendar remains thin and the profit taking might go some further in the run-up to tomorrow's informal EU Summit. - Currencies EUR/USD rebound on profit taking - The correction in EUR/USD was prolonged, but the euro gains were modest and mostly technical in nature. The UK inflation report is the eye-catcher of the day as it may influence sterling. However, overall trading might again be thin ahead of tomorrow's euro Summit. The Sunrise Headlines - US Equities rose for a second ...

The Week Ahead Highlights Europe steps closer to the cliff edge Can the USD extend its rally? Bank of Japan may extend maturity of its bond buys Pricing in more QE from the Bank of England Europe steps closer to the cliff edge It was a pivotal week for the Eurozone after Greece announced that it was heading back to the polls after the top three parities failed to form a coalition government. So now Greece is leaderless, there is a caretaker government in place but it won't be able to enforce the austerity required to get the next tranche of bailout funds necessary for Greece to avoid running out of money in July. So as time runs out for Greece the European authorities have been clear: the upcoming election is a referendum on euro-membership. Either vote for pro bailout ...

Markets eye whether BOE extends its Asset Purchase Program later today; Greece continues to struggle to form new gov't Economic Data (RU) Russia Central Bank (CBR) left Refinancing Rate unchanged at 8.00%, as expected (ID) Indonesia Central Bank left Reference Rate unchanged at 5.75%, as expected (FI) Finland Mar Industrial Production M/M: -1.5% v -0.2%e; Y/Y: -5.7% v -2.2%e (FR) Bank of France Apr Business Sentiment: 95 v 95e (FR) France Mar Industrial Production M/M: -0.9% v -0.6%e; Y/Y: -0.9% v -1.3%e (FR) France Mar Manufacturing Production M/M:+1.4% v -0.2%e; Y/Y: -0.3% v -2.8%e (FR) France Mar Central Govt. Balance: -€29.4B v -€24.2B prior (ES) Spain Mar House transactions Y/Y: -22.7% v -31.8% prior (CZ) Czech Apr CPI M/M: 0.0% v 0.1%e; Y/Y: 3.5% v 3.6%e (CZ) Czech Mar ...

April's ISM manufacturing number improved from its March reading, even as markets were expecting further weakness in the sector. Almost all of the components showed an improvement compared to March's reading. The Slowdown in Manufacturing That Wasn't Once again, the U.S. manufacturing industry surprised markets by posting a better-than-expected print of 54.8 in April after printing 53.4 in March. All the important measures within the index improved compared to the previous month. Production increased from 58.3 to 61.0, while new orders surged from 54.5 to 58.2. Even the inventories component, which had increased during the past several months, dropped to 48.5 from 50.0 in March. This indicates that the manufacturing sector, instead of slowing down over the next several months, should see ...

S&P cuts Spain; BOJ increases JGB facility by net ¥10T, reduces fixed-rate ops by ¥5T Economic Data (KR) SOUTH KOREA MAR CURRENT ACCOUNT: $3.0B V $557M PRIOR; GOODS BALANCE: $3.00B V $1.31B PRIOR (UK) UK APR GFK CONSUMER CONFIDENCE SURVEY: -31 V -30E (JP) JAPAN APR MARKIT/JMMA MANUFACTURING PMI: 50.7 V 51.1 PRIOR (JP) JAPAN MAR JOBLESS RATE: 4.5% V 4.5%E; JOB-TO-APPLICANT RATIO: 0.76 V 0.76E PRIOR (JP) JAPAN MAR NATIONAL CPI Y/Y: 0.5% V 0.4%E; NATIONAL CORE Y/Y 0.2% V 0.1%E (6-month high); APR TOKYO CPI Y/Y: -0.3% V -0.1%E; TOKYO CORE Y/Y: -0.5% V -0.3%E (5-month low) (JP) JAPAN MAR OVERALL HOUSEHOLD SPENDING Y/Y: 3.4% V 4.1%E (2-year high) (JP) JAPAN MAR PRELIMINARY INDUSTRIAL PRODUCTION M/M: 1.0% V 2.3%E; (JP) JAPAN MAR RETAIL TRADE M/M: -1.2% V -0.5%E ; Y/Y: 10.3% V 10.0%E (multi-year ...

Eyes Turn To The Bank Of England Minutes The euro edged higher yesterday while world equities turned positive as risk appetite dominated the markets. A higher than expected demand for Spain’s government bonds pushed Spanish yields lower, a positive sign for a country whose borrowing costs almost doubled one month ago. Risk sentiment was also boosted after big US companies posted quarterly profits and after German ZEW Economic Sentiment showed a higher than expected figure. Against the dollar, the euro rose to1.3172 from 1.3090. The US dollar weakened against a basket of currencies weighed by improved economic data which raised investors’ demand for high yielding currencies. Against the Japanese yen, the greenback rose as high as 81.42 from 80.36 following industrial production in Japan ...