Range In Anticipation For The King

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 ...

Dukascopy Fundamental Analysis EUR France has elected new president, Francois Hollande who polled about 52% of the votes. Mr Hollande said that he is proud to return hope to people again. He also announced that he would attempt to rework deal regarding sovereign debt in the Euro Zone countries to promote economic expansion. USD The smalest payroll increase in last 6 months has not influenced the investors who still do not forecast another wave of recession in the US. Better housing and employment data has encouraged experts to believe that from the fundamental perspective the world's largest economy is on the path to recovery. GBP May 7 was a bank holiday in Great Britain. CHF The official SNB exchange rate for EUR/CHF is 1.2013 today; yield on 10-year Swiss Confederation bonds ...

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 ...

Fundamental Analysis EUR Unemployment in Spain approached a new record of 5.64 million in March while the jobless rate topped 24.4%, reported the national statistics office. Analysts expect the Spain's officials to confirm that the country is falling into recession. Meanwhile, retail sales in the country declined by 3.7% in March on an annual basis. USD US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months. GBP UK home value accelerated in April, the second straight month, Hometrack Ltd said on ...

Fundamental Analysis EUR Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday. USD Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel. GBP Today the Great Britain Pound extended its gains ...

Weekly Economic and Financial Commentary U.S. Review A Rough Start To April Another week of softer U.S. economic data weighed on market sentiment this week. More hints of slower economic growth are appearing in the data, consistent with our forecast that U.S. GDP growth slows to a 2.8 percent annualized pace in the first quarter and continues slowing to a sub 2 percent annualized pace in the second. Initial jobless claims jumped by 13,000 in the first week of April. February imports plunged 2.7 percent, small business confidence fell in March for the first time in seven months and core inflation is on the rise. A Rough Start to April United States economic data releases so far this month have not been kind to the bulls on Wall Street. The poor March payroll report rattled some ...

Copper steadied on Thursday following a 3 percent loss the prior session, helped by consumer buying and stabilizing appetite for risk, but any gain was expected to be limited ahead of the long Easter weekend in U.S. and European markets. Three-month copper on the London Metal Exchange traded at $8,335.25 a metric ton at 0930 GMT, down by 0.2 percent from a close of $8,350 a metric ton on Wednesday. Copper this week rallied to within 1 percent of 2012 peaks above $8,700 a metric ton on anticipation of fresh easing by the world's biggest economy, before minutes from a U.S. monetary policy meeting on Tuesday quashed those expectations and led to a divestment of risk across markets. Prices have been caught in a sideways range since late January, buttressed by consumer buying around $8,200 a ...

World stocks rose on Friday, with Europe gaining half a percent on the last trading day of a strong quarter as investors bet ministers will agree later in the day to almost double the euro zone's crisis-fighting funds. But the backdrop was clouded across all asset classes, having soured since mid-March due to growth concerns centered on China, uncertainty about the strength of the U.S. recovery and the conviction that huge injections of central bank money may be no more than a panacea for Europe's debt troubles. "All the European (share) markets have broken below their 2012 trend channels ... Now, indices are getting close to March lows," Aurel BGC chart analyst Gerard Sagnier said. "We'll have to wait for the consolidation phase, which has just started, to stabilize before going 'long' ...

(Reuters) - China's trade balance plunged $31.5 billion into the red in February as imports swamped exports to leave the largest deficit in at least a decade and fuel doubts about the extent to which frail foreign demand or seasonal distortion drove the drop. Import growth of 39.6 percent on the year in February was the strongest in a year, well ahead of the 27 percent expected and more than twice the rate of export growth of 18.4 percent that was barely more than half the pace forecast -- albeit at a six month high. "It's a very mixed picture," said Zhang Zhiwei, chief China economist at Nomura in Hong Kong, who cautioned against reading too much into the data given the underlying volatility caused by the Chinese Lunar New Year holiday that saw a week-long factory shut down in January ...