Market Overview

Market Drivers for May 9 2014Chinese inflation gauges muted German Trade deteriorates Nikkei .25% Europe -.51% Oil $101/bblGold $1290/oz. Europe and Asia:CNY CPI 1.8% vs. 2.0% CNY PPI -2.0% vs....

Yesterday, investors were focusing on the meeting of the European Central Bank, which strongly affected the euro's position in relation to main currencies. The ECB kept the interest rate on the same...

Market movers today We have a very light data calendar with only secondary data releases scheduled. In Europe both the UK and Italy will release industrial production for March. In general industrial...

EUR/USD Today’s support: - 1.3809(main), where correction is possible. Break would give 1.3792, where correction also may be. Then follows 1.3771. Break of the latter would result in 1.3764. If...

It is not so much that the US dollar is building on yesterday's gians, though the greenback is firmer against most of the major and emerging currencies. Rather, it is more the case that euro and...

• German trade surplus to increase again• UK industrial production to post mild gain • UK external deficits at pre-ERM crisis levels Today’s data calendar is light. After the...

Next week will be quite interesting in terms of macroeconomic data out of the region. Of particular interest will be Q1 GDP numbers for Poland, Hungary, the Czech Republic and Romania. Overall, much...

May 6 was the the four year anniversary of the Flash Crash. It was a bitter anniversary for our S&P desk, which has been on the floor since 1985. We took a big hit that day and still wonder why it...

Market movers ahead In the US, we can look forward to an eventful week with plenty of key figures and FOMC speeches on the agenda, with Janet Yellen's (voter, dovish) speech on Friday. We estimate...

The past week saw strong performance for many risk assets. Peripheral bond yields keep going lower: the Spanish and Italian 10-year yield set new records, falling further below 3% and in the credit...

Currencies EUR/USD: The pair fell sharply after nearly touching the 1.40 level on a 4 hour time frame. The next support is at 1.3781 and the next resistance is at 1.40. USD/JPY: The pair has formed...

This Great Graphic, created on Bloomberg, shows the Italian premium over Germany on 10-year sovereign borrowing (white line) and the euro (yellow line). ECB President Draghi held out the possibility...

I ended yesterday’s comments with the summary: “Most likely another slow to steady day today… and most likely in that order…” The beginning was correct - the ending was...

Dean Baker, in a recent post at the Center For Economic And Policy Research, tries desperately to dismantle an argument over stock valuations and the potential of an asset price bubble. The basis of...