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PRECIOUS – Gold Steadies As Euro Bounces; Weak Oil May Weigh
Tue, Mar 9 2010 By Lewa Pardomuan
* Gold holds near NY levels, off 2-week lows
* Early Chinese buying lifts prices
* Coming Up: Weekly U.S. mortgage market index, 1200 GMT
SINGAPORE, March 10 (Reuters) – Gold steadied on Wednesday after the euro bounced slightly higher against the [...]

FOREX – Yen Rises Broadly; Europe’s Debt Woes Hurt Euro
4:00pm EST By Vivianne Rodrigues and Nicholas Olivari
* Risk aversion and repatriation flows boost yen
* Ratings agency comments weigh on sterling, euro
* China’s commitment to buy Treasuries helps dollar
NEW YORK, March 9 (Reuters) – The yen gained broadly on Tuesday amid Japanese repatriation flows, while the [...]

One year on from the market lows, the markets were relatively benign in trading as a lack of economic data failed to provide any real directional bias. Volumes were light, with 7bn shares exchanging hands, the second lowest amount of the year, as traders appeared to sit on the sidelines.
The Financial Times has reported that [...]

Gold Slumps On China Speculation
* UK BRC Retail Sales (Feb) rose +2.2% y/y.
* France’s Trade Deficit (Jan) was better than expected at EUR -3.681bn.
* Switzerland CPI (Feb) ticked down to+0.9% y/y (1.0% expected, 1.0% prior).
* UK Trade Deficit (Jan) came out at a lower than anticipated GBP -7.987bn (7.00bn expected) but last month’s reading revised [...]

The price of oil stayed above the $80 level as data showed that net long positions are at their highest levels since January. The catalysts for the moves up are a weaker dollar, political unrest in Nigeria, and Chinese intention to build up oil reserves. Note that oil has traded above, and more importantly stayed [...]

Sterling continued to trade lower following the release of the latest RICS data and poor retail sales numbers. Only 17% of respondents reported rising house prices, the smallest percentage in six months, and well below expectations of 30%. UK retail sales numbers rose 2.2% in February, highlighting an air of caution amongst consumers. The third [...]

China’s Comments Will Haunt Gold Buyers
FX markets were nervously quiet in Asian session, just waiting for a directional catalysis. Initially, the deputy governor of the PBoC and the head of the SAFE, Yi Gang, at a press conference in Asia, provided some detailed and honest comments regarding China’s foreign exchange and reserve policy. These comments [...]