The Euro tumbled to a 10-month low of 1.3344 during the overnight trade as European policy makers favored the International Monetary Fund#8217;s involvement in the bailout of Greece, and the single-currency could face increased volatility over the ……
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European equity markets printed new 18-months highs on a late rally Tuesday afternoon. These positive trading levels were sharply cut at 6:00EST with Fitch cutting its sovereign ratings on Portugal. Ahead of the UK’s pre-election PBR and US durable ……
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 Avoiding much of the volatility that has developed for the currency market over the past 48 hours and the consistent trend that equities have enjoyed, crude is way deeper into the congestion that has developed over the past two weeks

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The Yen has been under pressure the past two days despite fluctuating risk sentiment. Markets are starting to look beyond the issues in Europe and at the improving global economy. Expectations that the U.S. added 167K jobs in February, has raised the outlook for yields in the U.S. and Canada which depends on demand from its southern neighbor. 

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The Canadian dollar reversed yesterday’s losses as potential resolutions to two of the biggest issues over the past few months sparked a bout of risk appetite. Germany put their support behind a plan that would have the IMF provided funds for the struggling nation with European members providing a back stop in order to prevent default. Meanwhile, the Dubai government promised to recapitalize Dubai World with $9.5 billion in aid. Oil pushed higher on the news which helped drive the “loonie” as the two have maintained a 57% correlation over the past week. The USD/CAD has also seen rising Canadian interest rate expectations become a weighing factor as demand from abroad has fueled job growth and domestic demand. 

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Mortgage approvals in the U.K. are expected to weaken to an annualized pace of 46.5K in February from 48.2K in the previous month, and the data could weigh on the exchange rate as policy makers continue to see a risk for a protracted recovery.

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The New Zealand dollar retraced the sharp decline from the previous day after finding near-term support at the 200-Day SMA (0.7001), while the Japanese Yen extended the decline, with the exchange rate rising to a fresh monthly high of 92.71.

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The British Pound extended the overnight advance to reach a high of 1.5000 as the economic docket reinforced an improved outlook for the U.K., but the lack of momentum to cross back above the 20-Day SMA (1.5080) may keep the GBP/USD within the narrow rang…
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Equities: Commentary from the Dubai Financial Support Fund jolted what had been a lackluster premarket session. The DFSF, while notably failing to answer some investor questions, assured markets of state support for Dubai World which rallied equity future…
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The Czech koruna extended its gains slightly yesterday despite ongoing uncertainty surrounding PIGS countries and a strong US dollar, which usually put CE currencies under pressure. Still koruna#8217;s gains were only limited as the market has ……
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