Today Only Charts

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/ ...

Sunrise Market Commentary - Fixed Income: Little support from elections - Global core bonds set new contract highs at the start of the European session after the French and Greek elections. However, the negative sentiment surprisingly didn't push through and many markets bounced off key levels. - Currencies: euro limits the damage after French and Greek elections. - On Monday, the euro opened sharply lower after the election results in Greece and Spain. However, the price moves developed in an orderly way. Even more, the single currency showed remarkable resilience and reversed part of the early losses. The test of the 1.2974 support was rejected. The EUR/GBP 0.8068 support remains under pressure. The Sunrise Headlines - US Equities hovered sideways on Monday, halting a ...

Sunrise Market Commentary - Fixed Income ECB can't move global bonds - Global core bonds ended the session unchanged, as initial disappointment that the ECB wasn't more dovish dissipated fast. Today's payrolls are key and might decide whether the 6-week rally is over or has one more leg. Currencies: Major currency cross rates little changed ahead of the payrolls - EUR/USD gained temporarily during the ECB press conference as Draghi was less dovish than some in the market had expected. However, the move was technically insignificant as sentiment on risk remained fragile. Today, the payrolls are the key factor for (currency) trading. Investors might stay cautions on the euro to avoid this weekend's political event risk. The Sunrise Headlines - US Equities dropped for a ...

Sunrise Market Commentary - Fixed Income: German yields set record lows - Depressing April PMI's and unemployment data in the EMU set the tone for a risk off session. Core bonds surged higher and the German Bund future reached a new record high. In the US session, US equities rebounded and triggered profit taking in US treasuries. German bonds stayed near the highs however. - Currencies: Awful EMU PMI data hit the euro - The focus in currency trading shifted from the US to Europe. On Tuesday, EUR/USD declined due to dollar strength in the wake of the ISM release. On Wednesday, an awful set of EMU data triggered a next selling wave. EUR/GBP continues to set new lows, too. We doubt that the Draghi press conference will be able to change the course of events The Sunrise ...

Sunrise Market Commentary - Fixed Income: Small changes after volatile trading - Core bonds traded volatile due to economic data and bond auctions. The Fed had the final saying. The FOMC statement showed that the Fed was slightly more optimistic on growth and the governors more hawkish in their rate forecasts. However, policy remains unchanged and Bernanke kept the door for more QE open. - Currencies: Fed doesn't help the dollar - On Wednesday, trading in most major currency cross rates was confined to recent ranges. EUR/USD is holding near the recent highs. The Fed kept a soft tone and this was a slightly negative for the dollar. Sterling lost temporary ground as Q1 GDP data showed that the UK has slipped back into recession. However, the EUR/GBP 0.8222 resistance did its job. ...

Sunrise Market Commentary - Fixed Income: Core bonds hit by profit taking, non-core bonds gain - Risk aversion ebbed away following Monday's rout, leading to some modest profit taking in core bonds. Non-core bonds did well and yield spreads versus Germany narrowed. Spain and the Netherlands outperformed yesterday. Investors will stay largely sideways today, ahead of this evening's FOMC statement and press conference of Mr. Bernanke. - Currencies: Euro slightly higher as tensions ease - On Tuesday, most markets saw a setback on Monday's sharp sell-off in risky assets. In this move, EUR/USD returned to the 1.32 area, but a technically significant break didn't occur. EUR/GBP came near the 0.8143 August 2010 low. Today, the focus of currency trading will be on the Fed. The ...

Sunrise Market Commentary - Fixed Income: the only way was up - Political tensions in the Netherlands and France in combination with weak PMI data set the tone for a risk off environment in which especially German bonds profited. The Bund set a new contract high and the German 10-yr yield set a minor record low (1.63%). The Dutch spread added 18 bps (78 bps) and is well underway to a the all time high (86 bps). - Currencies: EUR/USD showed only limited losses even as risky assets were sold - On Monday, EUR/USD ceded ground as negative political and economic headlines from Europe weighed on global market sentiment. However, investors were also cautious on the dollar ahead of tomorrow's Fed decision. Sterling was again an outperformer as EUR/GBP reached a new correction low. ...

Sunrise Market Commentary Fixed Income: Political developments supportive for core EMU bonds Political developments over the weekend are supportive for global core bonds, but strong technical resistance (contract high; inverted channel) come into play. In France, presidential candidate Hollande beat current president Sarkozy in the 1st round of the French election and in the Netherlands, the government fell as Dutch budget talks collapsed. Currencies: EUR/USD fails to take out first resistance at 1.3213 On Friday, the euro was rather well bid. EUR/USD tested the 1.3213 resistance but failed to sustain above this level. EUR/GBP stayed below the 0.8222 previous range bottom, confirming the break of earlier last week. Cautious sentiment on risk will probably cap the topside ...