Friday, 8 April 2011

Bonds volume picking up post ECB rate hike

Sources pointing out Spain doesn't need bail out, Greece will not need to restructure and Portugal needs reforms.

PGBs 3bp better, Ireland 5bp better and Greece flat.

EUR/USD sees decent rally in Asia


As the dollar sees general weakness (USD/JPY exception), underminned by the spectre of a US government shutdown.  Interesting to see that the Big German we mentioned scooping up overnight 1.4400 EUR/USD calls yesterday has hit pay dirt.  Clever Big German. Euro zone data today: 06:00 GMT: German trade balance for February expected 13.0 bln; current account 12.0 bln.  Exports +2.0%. Imports +1.0% 06:00 GMT: Bank of France business sentiment for March 06:45 GMT: French central govt balance for February European stocks set to open firmer; DAX and FTSE around +0.5%. 

Economic Calendar - 8th April 2011

Good Morning Traders,

Key events due at:

11:00GMT Canada Unemployment Rate (Mar) Consensus 7.7% Previous 7.8%
and Canada Net Change in Employment (Mar) Consensus 32.4K Previous 15.1K

12:15 GMTCanada Housing Starts s.a (YoY) (Mar) Consensus 180.0K Previous 181.9K

All eyes on the canadian dollar today! 


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