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The GBP exhibited weakness following the Aug new car registration data in which the SMMT stated that it expects monthly declines to continue through the rest of 2010. Thus the market speculated that the risks of a UK double-dip recession was much higher than previously expected. GBP/USD dipped below the 1.54 level while EUR/GBP edged close towards 0.84 ...

Sterling again weakened sharply following the latest PMI report on Friday and overall confidence in the economy is liable to weaken further as all PMI indices weakened in the latest month while housing-market fears will also tend to increase. The Bank of England takes strong notice of survey evidence and the latest data will discourage any thoughts of ...

And welcome to Mundane Monday. With the US and Canada both out today for Labor Day holiday’s the market will be understandably quiet as traders take the opportunity to absorb Friday’s post NFP price action. Taking all this into account we should see little if any action at all today which very much fits my schedule given the lack of sleep ove ...

There was considerable hype leading up to Friday's US data with many considering the payroll numbers to be the awaited trigger for an upswing in the US. A large surprise to the upside would have further discouraged the Fed from introducing additional QE, which had it happened would have given the USD a strong boost. Private payrolls did surprise to the ...

The euro rose to near a three-week high against the dollar in Asia Monday as strong regional share markets prompted short-term players to buy the risk-sensitive currency, dealers said. In afternoon trade in Tokyo, the common currency rose to USD1.2905, its highest level since Aug. 18. The rise came as Japan's benchmark Nikkei Stock Average led gains in ...

On Friday, positive global investor sentiment helped EUR/USD to extend recent gains. On the other hand, the reaction in USD/JPY was disappointing for bulls as initial gains were soon reversed. Sterling lost some ground against the euro as UK data continued to disappoint. ...

Following a hectic week, reporting agencies must have thought that we all needed a break. At least the calendar is quite light this week with the Bank of England meeting being one of a few potential market movers. Tomorrow will see the RBA and the BOJ announce their target rates and Germany will release its latest report on factory orders. ...

A better than expected payrolls number fits well with today being Labor Day in the US meaning that equities (though not futures) are closed. Hence, activity is likely to be subdued, but the bulls seem to have the edge in the short term. ...

Markets have opened in the green this morning, bolstered by continued buildups in risk appetite following Friday's rather optimistic NFP number. To highlight Friday's report, Nonfarm payrolls reported a drop of -54K jobs versus an expected drop of -105K while the change in private payrolls showed an addition of 67K jobs versus an expected addition of 4 ...

The US Dollar Traded weaker against most majors and stronger against the yen as better than expected albeit still negative August Job Numbers helped inspire further US stock market gains and create a risk on environment. The USD fared weaker across the board with the Euro and Aussie leading the majors higher. The better than expected NFP report however ...

Riskier currencies remained lofted to the detriment of the US Dollar as well as the Japanese Yen due to Friday's NFP data that proved to be not as bad as expected. US Non-Farm payroll employment data released on Friday showed a loss of 54K jobs as opposed to the forecast of 101K jobs lost. The not as bad as expected data sent US equities an risk curren ...

Asian equity markets are tracking US gains on Friday in the wake of a surprisingly improved employment picture, even though trading is notably thin ahead of the US Monday market holiday. Nikkei225 is leading the way, supported by export names cheering the "less bad" state of US consumer. Some speculation that Japan's Ministry of Finance could consider ...

Released ahead of the more comprehensive German ZEW investor confidence survey (out September 14th), today’s release of the Sentix investor confidence survey for September should provide a good indicator of institutional investor risk appetite. We expect a modest improvement in the index from 8.5 in September to 9.0 in August, given that eurozone ...

A report today showed that the job advertisements in Australia rose, following a strong increases over the previous three months from April to June, giving signs of better conditions in the nation's labor market. The Australian business sector is recovering, as global demand is picking up. ...

U.S. Dollar Trading (USD) better than expected albeit still negative August Job Numbers helped inspire further US stockmarket gains and create a risk on environment. The USD fared badly across the board with the Euro and Aussie leading the majors higher. August NonFarm Payrolls -54k vs. -100k forecast. The August Unemployment Rate increased to 9.6% vs. ...

US payrolls report boosts risk appetite. US equities surged on relief only 54,000 people lost jobs in August, compared to expectations of 105,000. The S&P500, which had ranged quietly until the report, closed 1.3% higher. Commodities closed 0.6% higher, oil down 0.6% on a weaker US services-ISM report, but copper up 0.1%, and silver (+1.2%) making a po ...

The dollar, while rising against the yen and Swiss franc, fell versus other key counterparts after better-thanexpected US employment data eased concern of a double-dip recession. For the week, all the major crosses except sterling rose against the greenback. Private-sector payrolls grew more than expected in August and job losses in July and June wer ...

The strong rally in risk into today's close in the US today can't be about this week's economic data - particularly as the ISM non-manufacturing index for August showed a steep deceleration. So why the rally? The combination of an equity rally and a lousy ISM resulted in the predictable (once those former two variables were known) USD sell-off today. C ...

The case for metals remains not that of outright inflation but that of central banks prolonged liquidity drives. Currencies will gain/fall versus one another, but fresh asset purchases will maintain gold and silver ahead. Rising metals remained the consistent play over the past 2 months, supporting my near-term gold outlook for $1270/oz and $1,330 by Q ...

The US ISM non-manufacturing report should be considered the premiere survey of US business conditions as it covers the US services industries, which represent some 70% of the US economy. Today's report for August was very negative, at a barely expansive 51.5 vs. 53.2 expected and 54.3 in July. Particularly of concern was the employment component of th ...