Market dwells on hopes of a weekend rescue plot for Greece

The tremendous weight of pressure thrust upon Greece this week and the resultant broad euro currency weakness has electrified market talk that a weekend intervention is a distinct possibility. The euro has rebounded alongside a strong rally for Eurozone stock markets and shares in Greek banking stocks as the market hopes to get a glimpse [...]

Flurry of risk aversion boosts yen and dollar

An early morning rally for the dollar in New York has seen the single European currency surrender gains it made following dovish remarks released in the March FOMC minutes. The euro had clawed back losses inspired by unfounded reports circulating yesterday suggesting that it was trying to unshackle itself from IMF aid carrying possibly stringent [...]

Global manufacturing gains power risk appetite

Risk appetite stepped up a notch to start the new financial quarter with investors selling dollars for riskier propositions such as higher-yielding currencies and equities. A raft of manufacturing survey evidence around the world leaves investors with a single-minded assurance that government and central bank policies have worked their way through to recovery. For now [...]

ADP report douses optimism over Good Friday jobs report

It’s all too easy to find bond bears everywhere you look these days, and it’s hardly surprising. The global stock markets are up for the first quarter by around 6% if the MSCI Global index is anything to judge that by. Only Spanish and Hong Kong’s major indices have failed to turn positive on the [...]

Solid Aussie foundation crumbles

Last week we heard carbon-copy statements from the Reserve Bank of Australia’s two leading officials who tried to steer the conversation about monetary policy towards a “normal” interest rate setting. As investors listened and as they observed fresh domestic and regional data indicative of ongoing above normal growth, they once again clung onto the coat [...]

Weakness at Greek auctions keeps pressure on Eurozone yields

Rising consumer confidence and a surprise increase in the price of homes bolstered the view that the U.S. economic recovery remains intact, while sending bond prices lower at the same time. Rising yields is becoming an accepted sideshow of the recovery circus, except in the Eurozone where investors still exit the tent containing the freak [...]

Euro easier as business as usual returns

Business as usual resumed on Tuesday with currency traders paying full attention to commodity currencies against a backdrop of ongoing health for the global economy. The world’s stock markets are powering to a healthy first quarter close adding to the growing body of recovery evidence. Included within “business as usual” is an ingoing reservation to [...]

Dollar backs off as risk taking steps up

The dollar is lower to start the week with its index versus a basket of most commonly traded partners weaker by 0.3%. One wonders how the smart money will position itself throughout the week in the expectation that labor market data scheduled for Friday might show the biggest employment addition since May 2007. Ever since [...]

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