http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/23/Market movers today Euro-area flash PMIs are expected to improve but to remain in recessionary territory. In April the final euro-area PMIs showed upward revisions pointing to improvement during the month, signalling that data might have improved in May. Loads of ECB speeches. Liikanen speaks on structural reform and Coeuré on a European Banking Union, both in Copenhagen, Nowotny and Noyer hold press conferences, finally topped by Weidmann and Draghi speeches this afternoon. US manufacturingThu, 23 May 2013 06:19:20 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/23/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/22/Market movers today FOMC Minutes. It will be interesting to see how worried FOMC members were about the softness in economic data received up to the meeting. Discussions (if any) about the timing of the QE exit should draw special attention. Fed chairman Bernanke’s testimony on the Economic Outlook may also provide some information about the Fed’s view on the labour market and a possible exit from the QE programme. Recent Fed speeches suggest an exit is not imminent, though. BoE Minutes. WeWed, 22 May 2013 05:54:23 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/22/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/21/Key news US equities are hovering around all-time highs Core yields are grinding higher while spread compression continues in peripherals Focus today on Fed speakers and in Scandinavia on Swedish unemployment figures Markets overnight It has been a calm session overnight with comments from the Fed’s Evans as the only market relevant news. Evans (voter, dove) said last night that “I’m optimistic that the labour market has been doing much, much better and that unemployment is going to continueTue, 21 May 2013 05:43:48 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/21/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/20/Markets overnight There have been a couple of interesting releases in what has otherwise been a calm weekend in terms of market relevant news. The risk-on move remains intact in this morning’s trade, with Asian stocks in positive territory. Nikkei is up by 1.5% and Hang Seng is up by 1.7%. The S&P future has also increased further in the Asian session this morning. Data on Chinese house prices released on Saturday showed continued increases. New house prices increased in 68 out of 70Mon, 20 May 2013 05:34:30 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/20/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/17/Key news Slightly positive sentiment this morning as strong Japanese machinery orders partly offset yesterday’s soft US data. Fed dove Williams says asset purchases could be scaled down as soon as this summer. Focus today on US consumer confidence and speeches by ECB board members. Markets Overnight The main market mover overnight was the weaker-than-expected US data released yesterday. The jump in the weekly initial unemployment claims suggests that the US labour market continues to improve,Fri, 17 May 2013 06:10:17 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/17/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/16/Key news Japanese Q1 GDP beat expectations. Positive risk sentiment continued yesterday but Asian session has been mixed. Focus on CPI data and Fed speeches today. Markets Overnight Japanese GDP beat consensus expectations in Q1 rising 0.9% q/q boosted by private consumption growth and exports. Business investments were subdued suggesting that companies have remained somewhat cautious. Nevertheless, this cautiousness may change in Q2 as JPY has depreciated more than 20% versus USD over theThu, 16 May 2013 05:43:17 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/16/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/15/Key news Another good day for equity markets. JPY continues to weaken and yields surge as Bank of Japan’s policy is seen as credible. The US government deficit is shrinking fast, taking pressure off politicians. Markets Overnight Equity markets had another good day yesterday with the S&P500 up 1% and Euro stoxx up 0.7% on the day. Overnight the positive sentiment has carried over to Asian trading driven by Japan’s Nikkei index, which set a new high since January 2008 after the yen broke aWed, 15 May 2013 05:50:37 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/15/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/14/Key news Strong US retail sales support bond sell-off and stock markets. JPY slightly stronger overnight after reaching new lows over the weekend. Swedish CPI in focus after the latest Riksbank meeting. Markets Overnight The US S&P500 closed the day marginally higher helped by an upside surprise in US retail sales. The gain was primarily driven by healthcare and financials, while telecom, materials and utilities saw losses. The surprisingly strong retail sales in April combined with upwardTue, 14 May 2013 06:19:22 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/14/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/13/02/Key news G7 meeting focused on Japan and the weak yen. Fed’s exit plan is back on the agenda. Tax hike likely to weigh on US retail sales today. Markets Overnight In connection with the G7 finance ministers’ meeting in the UK this weekend policy makers and central bankers reaffirmed their commitment not to manipulate currencies and that central-bank policy will be focused on domestic objectives only. According to an article on WSJ.com, Bank of Japan’s monetary policy and the weak yen wereMon, 13 May 2013 06:12:58 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/13/02/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/08/Key news Asian equity markets follow the positive trend from Wall Street yesterday as Chinese export data surprise on the upside. In Europe semi-core and peripheral government bond markets continue their strong performance. Focus on whether Norges Bank will follow other central banks and cut monetary policy rates. We have an non-consensus call and expect the Norges Bank to be on hold. Markets Overnight The positive sentiment continues in the global equity markets on the back of the highlyWed, 08 May 2013 06:08:36 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/08/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/07/Key news S&P500 hit another all-time high. The US stock market is boosted by growth optimism and easy US monetary policy. ECB chief Mario Draghi said the ECB could ease monetary policy if incoming data showed a softening European economy. Increased tensions between Syria and Israel push up oil prices. Markets Overnight The US stock market hit yet another all-time high yesterday. Since its low five years ago S&P500 has risen nearly 140%. The market continues to be well supported byTue, 07 May 2013 05:55:19 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/07/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/06/Key news Stronger-than-expected US labour market data boost confidence in the global recovery and global stock markets rise. Prime Minister Razak won the Malaysian elections. Local markets rally on the news. Oil prices rise on growth optimism and increased geo-political concerns. Markets overnight Stronger-than-expected US labour market numbers on Friday boosted risk appetite. US stock markets ended higher and Asian markets are also trading higher this morning. Malaysian stocks rose to aMon, 06 May 2013 06:38:41 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/06/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/03/Key news Positive sentiment driven by ECB and US jobless claims Chinese service sector PMI fell to 54.5 in April Hollande says he needs Merkel to meet him halfway on banking union Markets overnight The positive sentiment caused by US jobless claims hitting a five-year low and the ECB not only cutting the refi rate, but also opening the door for negative deposit rates, continued throughout the US session. Chinese service sector PMI fell in April to 54.5 from a reading of 55.6 in March. NewFri, 03 May 2013 05:53:50 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/03/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/02/Key news Fed opens door slightly for increase in asset purchases Stocks lower despite upward surprise in ISM US yields at five-month low Decline in US vehicle sales suggests weak start to Q2 consumption Focus turns to ECB today Markets overnight The Fed statement last night was somewhat surprising as the tone on growth and employment was kept fairly unchanged despite the recent weakness in data – see Flash Comment . However, the Fed turned more dovish on the policy description as it said it isThu, 02 May 2013 05:55:36 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/02/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/01/Key news US S&P500 closes at new high again. EUR/USD higher while oil drops. China NBS PMI fell in April, confirming the economy stayed soft into Q2. Australian PMI plunges to lowest level since 2009. All eyes on US today. ISM likely to decline and the Fed to soften its tone. Most European markets closed today due to Labour Day. Markets overnight US stocks edged higher again yesterday, climbing to a new high. A weak Chicago PMI affected the markets but an upward surprise in US consumerWed, 01 May 2013 06:03:55 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/05/01/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/30/Key news Italian government scraps tax increases and signals less fiscal austerity. Japanese data weaker than expected but still suggest a recovery has started. Today’s eurozone CPI should improve odds of ECB rate cut. Italian PM Letta to deliver his message of less fiscal austerity to Berlin. Markets overnight The market sentiment is still moderately positive on expectations that major central banks will continue to support the market. The gradual movement towards less fiscal austerityTue, 30 Apr 2013 06:31:28 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/30/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/29/Key news In Italy a broad three-party coalition was sworn in on Sunday. Bank of Cyprus has converted 37.5% of deposits above EUR100,000 into equity. In Iceland the two parties that governed when the crisis hit have regained majority. Markets since Friday In Italy a new government was sworn in on Sunday after two months of political deadlock. The government is a broad coalition of the left-wing Democratic Party (PD), Silvio Berlusconi’s centre-right People of Liberty and Mario Monti’s CivicMon, 29 Apr 2013 06:27:50 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/29/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/26/Markets overnight At the Bank of Japan (BoJ) meeting that ended early this morning the BoJ kept the pledge to double the monetary base in two years. Focus now turns to the revised macroeconomic forecast that BoJ will publish later this morning. In light of BoJ’s aggressive commitment to the 2% inflation target it will be interesting to see if BoJ revises its longer-term inflation forecast higher. Currently BoJ’s inflation forecast for fiscal 2014 excluding the impact from a consumption taxFri, 26 Apr 2013 05:57:44 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/26/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/25/Key news Global macro data continue to disappoint – Korean GDP being today’s exception. US markets closed flat but with defensives down – Asian markets are higher. Enrico Letta appears set to become Italy's new prime minister. Focus today is on earnings reports and UK GDP. Markets overnight Data continued to disappoint yesterday and point to a slowdown, or soft patch, in global growth. Following a drop in German IFO expectations (101.6 versus consensus 103.0) and a weak US durable goods orderThu, 25 Apr 2013 05:50:43 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/25/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/24/Key news US equity markets closed higher and Asian bourses are trading with gains. Economic data continue to point to a period of slower global growth. Big rally in European peripheral bonds yesterday - EUR/CHF trades near 1.23. Bank of England announces extension to the Funding for Lending scheme. Focus today is on German IFO and US durable goods orders. Markets overnight Despite disappointing manufacturing PMIs starting in China (50.5 versus consensus 51.5), followed by Germany (47.9 versusWed, 24 Apr 2013 05:59:44 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/24/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/23/Key news Lower-than-expected China PMI pushes Asian equity markets lower. US equity markets closed with decent gains – S&P500 up 0.5%. Focus today is on European PMIs for April. Markets overnight The flash estimate of the HSBC China manufacturing PMI fell to 50.5 in April, well below last month’s reading and analyst expectations. This adds to recent mixed data that have raised concerns about a weak Q2 following the disappointing Q1. Asian equity markets are lower led by losses in China.Tue, 23 Apr 2013 05:50:31 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/23/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/22/Key news The Italian parliament has re-elected Giorgio Napolitano as Italian President. Italian Democratic Party leader Per Luigi Bersani resigned afterwards. Fitch has stripped the United Kingdom of its AAA rating. Eurogroup president Dijsselbloem has said that pace of deficit reduction will slow. Markets since Friday The Italian parliament on Saturday re-elected 87-year old Giorgio Napolitano as president after the first five rounds of voting had failed to result in a winner. This is theMon, 22 Apr 2013 05:45:29 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/22/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/19/Key news Italian presidential vote still inconclusive – third round of voting begins today. Growth worries persist as soft data and downbeat earnings weigh on sentiment. Markets Overnight Italian presidential vote still inconclusive. Hopes of breaking the deadlock in Italian politics were dealt a blow yesterday, as the first two rounds of voting failed to elect a new president. Shortly before the election, Mr. Bersani (leader of the Democratic party) had struck a deal with the centre-rightFri, 19 Apr 2013 05:50:55 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/19/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/18/Key news Italy’s centrist parties seem to have reached last-minute deal on presidential candidate Weidmann comments add to odds for an ECB rate cut Aggressive BoJ easing triggers investor outflow Sentiment swings back to risk-off Markets overnight Italy’s centrist parties seem to have reached a last-minute deal on a presidential candidate . According to the Financial Times, a last-minute deal has been reached in Italy between the centre-left democrats led by Bersani and Berlusconi’s People ofThu, 18 Apr 2013 06:02:58 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/18/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/17/Key news IMF lowers its growth forecasts for most major economies. Focus on Chinese local authority debt intensifies. Risky assets bounced back yesterday, driven by earnings and soft Fed talk. Today’s calendar is packed and includes the Riksbank rate decision. Markets Overnight IMF lowers growth forecasts . In its semi-annual global economic forecasts published yesterday, the IMF lowered its estimate for global growth in 2013 to 3.3% (previously 3.5%). Overall, the forecast revisions containedWed, 17 Apr 2013 06:02:01 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/17/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/16/Key news Financial markets’ response to possible terrorist attack in Boston has been calm Commodity prices markedly lower across the board on concerns about global growth Equity markets are lower but have stabilised during Asian trade JPY markedly stronger and commodity currencies under pressure but stabilisation overnight Focus today is on ZEW, US housing starts and speeches by Draghi and FOMCmembers Markets Overnight Financial markets have responded relatively calmly to what appears to be aTue, 16 Apr 2013 06:00:59 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/16/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/15/Key news Chinese GDP and industrial production disappoint. Equity markets and bond yields lower on soft data. China and US to work together in North Korea crisis. EU extends loan to Ireland and Portugal. Focus today on US Empire index and NAHB housing index. Markets Overnight Equity markets retreated Friday and the move has continued in Asia following weak data in the US and China and continued geopolitical risks on the Korean peninsula. US retail sales for March underpinned the expectationMon, 15 Apr 2013 06:29:48 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/15/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/12/Key news Stakes are rising in Korea conflict as Pentagon warns on nuclear missile capabilities. Bank of Japan’s Kuroda stresses inflation target to be handled flexibly.  International Energy Agency revises down oil demand projections. Markets Overnight Stakes are rising in Korea conflict. An assessment by the Defense Intelligence Agency (DIA) made public yesterday concluded with ‘moderate’ confidence that North Korea has the ability to launch nuclear-armed ballistic missiles, thoughFri, 12 Apr 2013 06:07:14 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/12/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/11/Key news Fed minutes, released early by mistake, had a hawkish tone. Obama budget presented, aiming to kick-start deficit-reduction talks. Market sentiment shrug off the hawkish Fed bias and the rise in pro-cyclical assets has continued. Today’s calendar is thin, with a few Fed speeches being the most interesting events. Markets Overnight FOMC minutes reveal tapering discussion heating up. The FOMC minutes (link), leaked accidentally prior to the opening of US bourses, revealed that ‘many’Thu, 11 Apr 2013 06:01:08 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/11/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/10/Key news Chinese trade data point to improving domestic demand, while a sovereign downgrade from rating agency Fitch highlights increasing debt worries. The highlight on today’s calendar is the FOMC minutes, which are due at 20:00 CET. Markets Overnight Chinese trade date signal recovery on track, amid increasing debt worries. According to the data released overnight China recorded a mild trade deficit of USD0.9bn in March driven by a surge in imports of 14.1% y/y. This could dispel concernsWed, 10 Apr 2013 06:07:35 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/10/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/09/Key news Lower Chinese inflation eases tightening risk from PBoC. Alcoa reports better-than-expected earnings on higher sales. Another quiet day ahead in terms of data releases. Markets Overnight Chinese inflation came in lower than expected in March, slowing to 2.1% y/y from 3.1% in February driven by a substantial drop in food price inflation. It was expected that food prices would decline as they were boosted by the Lunar New Year in February but consensus was for a smaller drop in overallTue, 09 Apr 2013 05:45:39 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/09/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/08/Key news A weak US employment report increased worries about a new soft patch. Long-end Treasury yields dropped significantly and the 10-yield is at its lowest for the year. JPY continues to weaken despite expectations of a Fed QE exit this year being scaled down. Markets Overnight In Portugal, the constitutional court has rejected four austerity measures, considered essential to meeting mandatory deficit targets, as they were ruled unconstitutional – including planned cuts in public sectorMon, 08 Apr 2013 05:59:45 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/08/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/05/Key news ECB keeps rates unchanged but holds the door open for further easing. BoJ’s aggressive move has put downward pressure on global bond yields. Focus on US employment report – we expect job growth above 200K in March. Markets Overnight Asian stock markets celebrated the aggressive easing from the Bank of Japan overnight with Nikkei up 3.4% at the time of writing. The easing measures far exceeded market expectations and Kuroda signalled that the current pace of government bond purchasesFri, 05 Apr 2013 06:11:07 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/05/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/04/Key news Very aggressive BoJ announcement. Focus today on ECB: 25% chance of a refi-rate cut but watch out for non-standard measures to improve credit conditions. BoE to stay put. In the Scandi region, watch out for retail sales in Norway and a speech by Norges Bank’s Olsen. Markets Overnight Markets in ‘caution mode’ ahead of central-bank meetings today after disappointing US data and as North Korea continues to step up its rhetoric against South Korea. Bank of Japan (BoJ) has just made its –Thu, 04 Apr 2013 06:10:10 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/04/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/03/Key news Markets calming on easier Cyprus budget terms and decent US, Chinese data. Fed speakers reiterating the case for continued Fed balance-sheet expansion. Focus today on Norwegian PMI and jobs data; ADP and non-manufacturing ISM in the US ahead of ‘the big central bank day’ tomorrow. Markets Overnight A little calm on markets yesterday after Cyprus was granted two additional years (to 2018) to meet budget requirements, Italian policymakers started work on government programme proposals,Wed, 03 Apr 2013 05:47:37 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/03/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/02/Key news US ISM disappoints but details suggest consumer resilient nonetheless. Eurozone markets calmed down a little but still uncertainty in Cyprus and Italy alike. Focus today on eurozone PMIs and jobs ahead of ECB meeting later in the week. Markets Overnight PMIs in focus post-Easter time after data released on Monday showed that the US manufacturing ISM staged a marked decline and Chinese ones failed to beat expectations in March. The US manufacturing ISM fell to a disappointing 51.3 inTue, 02 Apr 2013 05:57:42 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/04/02/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/27/Key news Risk sentiment improves on strong US data Investors turn attention away from Cyprus and equity markets rise Fitch puts Cyprus on negative watch Markets overnight Risk sentiment improved and investors turned attention away from Cyprus after yet another round of strong US data: durable goods orders came out higher than expected and while core orders were a bit softer, numbers still indicate strong capex spending in Q1 and Q2. Moreover, the S&P/Case-Shiller index of property valuesWed, 27 Mar 2013 07:02:10 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/27/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/26/Key news Cyprus bailout deal increases fear of the potential effects of capital control and the risk of contagion across Europe Equity market trades lower and spread between 10Y US and German government bonds reaches its highest level in almost three years A dovish Bank of Japan Governor Haruhiko Kuroda signals more bond purchases with longer maturities Markets overnight Yesterday’s initial relief rally on the back of the bailout deal for Cyprus proved to be short-lived as investors fear theTue, 26 Mar 2013 07:03:20 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/26/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/25/Key news Cyprus bailout agreement of EUR10bn has been reached Deposits below EU guarantee of EUR100,000 are spared but the deal creates dangerous precedent for future bail-out negotiations Relief rally in financial markets on the back of the bailout deal Markets overnight Early this morning Cyprus’s president and the European Union reached agreement on a bailout deal for Cyprus. The deal lines up EUR10bn in financing for the government and according to an article on wsj.com, the deal calls forMon, 25 Mar 2013 07:13:07 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/25/http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/21/Key news The Federal Reserve yesterday reaffirmed its commitment to continue quantitative easing until it sees substantial improvement in the US labour market situation. Chinese PMI data for March was stronger than expected and confirms that the Chinese economy continues to grow nicely. Both the Fed news and the strong Chinese data have been supporting risk appetite overnight with both US and Asian stock markets trading higher. The good news is overshadowing the continued worsening of theThu, 21 Mar 2013 06:58:36 GMThttp://www.fxstreet.com/technical/market-view/danskeresearch@danskebank.com (Danske Bank A/S)http://www.fxstreet.com/technical/market-view/daily-fx-market-commentary09/2013/03/21/