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- Friday, 16 October 2009 19:40:03 GMT Will Crude Salvage its Bullish Drive and Extend the Strongest Rally Since July?
- Friday, 16 October 2009 11:44:15 GMT Canada's Consumer Prices Decline for 4th Month; Leaving BOC on Hold
- Friday, 16 October 2009 07:52:07 GMT Swiss Retail Sales Indicate Slow Economic Growth
- Friday, 16 October 2009 07:10:05 GMT Oil Retains Momentum into Week-End, Metals Vulnerable to Further Downside
- Friday, 16 October 2009 04:57:15 GMT Antipodean Star Still Shines for Now (Opening Comment)
- Friday, 16 October 2009 04:15:09 GMT Overnight Interest Rate Update 10.16.09
- Thursday, 15 October 2009 18:27:04 GMT A Drop in Gas Inventories Extends Crude Oil's Rally to a Sixth Session
- Thursday, 15 October 2009 11:47:02 GMT Overnight Interest Rate Update 10.15.09
- Thursday, 15 October 2009 05:24:16 GMT Sterling Finally Plays Catch-Up (Morning Slices)
- Thursday, 15 October 2009 7:15:09 GMT Oil, Metals Diverge as US Dollar Stages Uneven Rebound - Where to From Here?
- Thursday, 15 October 2009 05:42:54 GMT ECB Monthly Report: 3Q Expected to Grow at 0.1% versus 2Q
- Thursday, 15 October 2009 08:28:00 GMT USD Graphic Rewind
- Thursday, 15 October 2009 05:24:16 GMT Euro Set to Test 1.5000 (Opening Comment)
- Wednesday, 14 October 2009 18:31:01 GMT Crude Marks New Year High, Extends Five-Day Rally as Dow Advances Fills in for Delayed Output Numbers
- Wednesday, 14 October 2009 14:24:37 GMT Business Inventories Fall for 12th Month
- Wednesday, 14 October 2009 13:08:21 GMT U.S. Retail Sales Fall Less Than Expected On Broader Demand
- Wednesday, 14 October 2009 11:24:58 GMT Overnight Interest Rate Update 10.14.09
- Wednesday, 14 October 2009 11:14:50 GMT European Industrial Production Rises, Adds Too Recovery Signs
- Wednesday, 14 October 2009 10:23:33 GMT Greenback Finds No Relief in Overnight Trade (Morning Slices)
- Wednesday, 14 October 2009 04:10:16 GMT UK Claimant Count Rate Holds Flat; Jobless Claims Falls to 20.8K
European leaders agreed to back banks, but failed to agree to a Euro-Zone wide rescue plan. The leaders of France, Germany, the U.K. and Italy pledged over the weekend to back their national banks while agreeing to ease accounting rules, seek tougher financial regulations and weaken enforcement of competition and budget laws. Apparently after strong resistance from Germany, they stopped short of creating a European wide rescue fund, similar to the U.S. rescue package. The announcement comes as the European financial crisis is widening. Germany had to force a new rescue plan for HRE after the emergence of further liquidity gaps and Belgium announced a revised deal to salvage Fortis with BNP Paribas taking over 75% of Fortis Bank Belgium from the government. Meanwhile, the Euro-dollar (EURUSD) traded on a heavy footing after heavy selling in Asia. Sentiment in the Euro-Zone is very negative after European leaders failed to agree on a Euro-Zone wide rescue plan over the weekend. Germany put up strong resistance according to reports, but then had to put a new rescue together for HRE after further liquidity problems. It wasn't all bad though, with leaders agreeing to back banks and BNP Paribas taking over 75% of Fortis. However, euro is seen as the most vulnerable currency out of the G3 now and this is reflected by the heavy real money selling seen in Asia and the pick up in investor repatriation, which favored JPY, USD and CHF. Sellers of euros have included a large U.S. house and a number of German players, while Japanese lifers were strong sellers of EURJPY. Option related demand supported at the lows, with a Swiss name said to be bidding EURUSD ahead of 1.3550 option triggers and gamma related demand supported EURJPY around 140.00. Risk is on the downside, with sellers expected on upticks.
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