Traded On The Eur/usd Alone

Sunrise Market Commentary Fixed Income: core bonds remain near contract highs Global core bonds reversed Tuesday's losses in a rather uneventful session. Today, all attention will go to the Spanish bond auction. A weak auction two weeks ago put pressure on Spanish yields since. The 10-yr yield flirts with the psychological 6% mark. In order to avoid more tensions, failure today is not an option. Currencies Sterling leaps higher on less dovish BoE Minutes While EUR/USD trading was rather uneventful, sterling was the star performer. Helped by less dovish BoE Minutes and a stronger labour market report, sterling shot higher pushing EUR/GBP below key support and GBP/USD above 1.60. The Sunrise Headlines US Equities dropped slightly lower on Wednesday, giving back part of ...

Fundamental market overview EUR France and Germany told Greece it should decide whether to stay in the monetary union by mid-December. "The Greeks must say quickly and without ambiguity whether they choose to keep their place in the euro zone or not," said prime minister of France, Francois Fillon. USD Number of Americans, who have found a job in October decreased to 110 thousand from 116 thousand the previous month, the ADP Employer Services said on Wednesday. Economists expected the figure to decline to 102 thousand. GBP U.K. construction purchasing managers' index (PMI) unexpectedly advanced to 53.9 in October from 50.1 in September, said the Markit research agency on Wednesday. Economists expected the reading to stagnate at 50.1. CHF Swiss stocks gained on Wednesday, ...

After a lengthy period of jawboning the Japanese Ministry of Finance (MOF) moved to weaken the yen by selling an estimated ¥7 Trn. The timing of the move may have caught the market looking the other way given market positioning. However, the MOF failed to deliver a knockout blow as the technical damage on the charts was minimal at best. Economic News USD - USD is Bid in Risk Off Day With the monthly close which caps an October that saw a sharp run up in the prices of risky assets the USD has caught a bid. $89 Bn of this bid likely came from the MOF and increased criticism of the European agreement has most markets risk averse to start the week. The bankruptcy filing by MF Global may have played a part in the day's movement as the broker is a major player in many fixed income and ...

www.youtradefx.com Today's Highlights • Core Durable Goods Orders (MoM) - (Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD) • Fed Chairman Bernanke Speaks - (The Fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the ...

The sentiment remains fragile and pessimistic with not light seen anywhere at the end of the tunnel. Last week’s banks stress test results was not at all a boost to the sentiment especially as investors and analysts undermined the credibility of the test itself. We can see another week starting with the pessimism and agony with the deadlock persisting in the euro area and the Greek tragedy and in the United States over raising the debt ceiling, and this debt crisis from both ends of the Atlantic is the powering force behind risk aversion and gold’s rally to a new all time record above $1,600 per ounce. The precious yellow metal extended the gain on the prevailing uncertainty and downside pressure on the global recovery, which rallied with the start of the week extending the two-week ...

The Week in Review Highlights * Is it time to panic yet? * Eurozone crisis is only just beginning * Fears of China tightening have become a reality * Post QE2 - Has the Fed got it all wrong? * Key data and events to watch next week Is it time to panic yet? North Korea is firing artillery shells at South Korea, the Irish banking system is on the verge of collapse, with fears of broader contagion steadily increasing, China is pursuing additional credit restraint, and the Fed is undertaking QE2 in last ditch effort to salvage the US recovery. If ever there were a time to hit the panic button, now would seem to be it. While we certainly think the environment is ripe for a major risk sell-off (USD, CHF, JPY, gold higher/EUR, GBP, AUD, stocks, commodities lower), we think ...

With the Euro already recording fresh 14-month lows against the U.S. Dollar on Thursday, the single currency may see a significantly larger price drop following the U.S. Non-Farm Payrolls report. Set to be released at 12:30 GMT, the report is forecasted to show an increase in the American employment figure. This will likely weigh heavily on the Euro. Economic News USD - Non-Farm Payrolls Could Lead to Big Gains for the Greenback While the Dollar was able to capitalize on the turmoil in Greece and make huge gains on the Euro, it tumbled against the Japanese Yen in trading yesterday. In the last 24 hours, USD/JPY has fallen over 200 pips, and the pair is currently trading around 91.75. Analysts largely attribute the drop to a reaffirmation of the Yen as a safety net compared to the more ...