A clear sign that risk appetite is still the dominant fundamental driver for crude traders, oil futures trading on the NYMEX exchange rallied mid-day in the New York trading session along with many other risk-sensitive securities on heightened speculation that Greece would be bailout by either the EU or Germany.

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Pound bulls were out for the first time in a week as Greek bailout rumors spark broad based risk appetite. The GBP/USD is working on its first positive day since February 2nd which was just ahead of the BoE’s rate decision. Risk trends have started to dominate price direction as policy makers remain on hold as existing downside risks to growth has made it formidable to begin tightening despite inflation well above their 2.0% target at 2.9%. Equity movements are explaining 48% of the pair’s volatility which is near its highest levels set back in late June, 2008. Now that it has become clear that most central banks will most likely remain on hold until the latter part of 2010, markets have regressed back to the prior trend of a pure risk on risk off trade.

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Retail spending in the U.S. is expected to improve in January, with economists  forecasting a 0.3% rise following the unexpected contraction during the holiday season, and the data is likely to encourage an improved outlook for the world’s largest economy as it emerges from the worst recession since the Great Depression.

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Markets are currently seeing a great deal of volatility as rumors swirl that a bailout for Greece is on its way. It wouldn’t be prudent to take any positions until conclusion of the current speculation either by confirmation or affirmative denial by European officials.

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SP 500 Futures: Friday#8217;s strong bullish bar should have been confirmed by an up bar yesterday, but it didn#8217;t happen. Meaning the outlook is mixed, with strength in the background from Friday, but need to see a daily close above 1067 to ……
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#8220;Today, Norges Bank (NB), which along with the Bank of Israel (BoI) and the Reserve Bank of Australia (RBA) had started the global rate hike cycle late last year, kept its policy rate steady. Likewise, on Tuesday the RBA refrained from hiking ……
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European markets rotated off the strong gains seen in Monday’s session (which snapped a three-session negative trend) on an initially soft footing. Declines in the US, with the DJIA closing below 10,000 and a mixed session in Asia, that saw heavy ……
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EURUSD Due to quick reaction of demand from support at 1.3640 this currency rate was pick up to firm resistance at 1.3740 and gains of further 60 pips seems to be possible. So Today we suggest opening longs from 1.3710 with a stop loss order around ……
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The Czech koruna finished yesterday#8217;s session slightly weaker as domestic data flows (worse-than-expected unemployment and foreign trade figures) slightly disappointed while sentiment in emerging markets has been still mixed. Hence, the EUR/CZK ……
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