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The Dow edged a little higher last night, to close at 10,564, over 4,000 points higher than this time last year. As per the last few sessions, we have remained pretty directionless due to a dearth of economic data, and some subdued activity whilst we wait for a conclusion to the issues surrounding Greece and [...]

Ahead of today’s weekly inventories, traders appear to have taken some of the recent profits off the table, albeit we remain above the $80 mark. A spate of violent outbreaks in Nigeria has helped to increase concerns about supply from the African nation, but despite demand remaining sluggish, oil has rallied sharply over the past [...]

Sterling was relatively stable in overnight trading, ahead of today’s Industrial Production figures. The UK’s currency has been hit hard of late, with poor RICS data yesterday compounding recent losses. Negative comments coming from Moody’s has put Sterling in the spotlight, so eyes will now turn to today’s data to see for signs of like [...]

China Import / Export Data Improves Australia Westpac Consumer Confidence printed at 0.2% vs. -2.6% exp. Australia Jan owner-occupied housing finance -7.9% m/m vs.-2.0% exp investment finance +0.9%. In Australia RBA AsstGov Lowe sounded very optimistic stating that growth was at or above average for the next couple of yrs, while labor market are strong [...]

Overall trading has been insipid in the Asian session, a testimony to the lack of real drivers out there. And while we have seen some decent volatility in FX, pairs have not broken out of mid-term ranges. Interestingly, equity indexes continue to climb higher with S&P closing on the resistance at 1150, VIX safely below [...]

PRECIOUS – Gold Steadies As Euro Bounces; Weak Oil May Weigh Tue, Mar 9 2010 * 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 [...]

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 [...]

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 [...]