The euro benefits from a falling U.S. dollar and yen following renewed risk appetite

[RTFX-Trading]

   
The euro benefits from a falling U.S. dollar and yen following renewed risk appetite

What’s new?:
Markets closed in Tokyo and London today.
China: growth in manufacturing PMI index.
United States: "Stress tests" results to be published Thursday 7th May
Italy: Fiat, Opel redemption is a "tremendous opportunity".
Italy: The alliance between Fiat and Chrysler will be decided Thursday night.
Swine flu: The flu arrives in France, Korea, Switzerland,
United States: Auto sales at their lowest for almost 30 years.
United States: Michigan confidence index back to 65.1.
U.S. ISM manufacturing index increased to 40.1 in April.

Today:
08h00 CET: DE Mar Retail Sales M/M, exp -0.10%, previous -0.20%
09h30 CET: CH Apr PMI, exp 33.8, previous 32.6
09h53 CET: DE Apr Mfg PMI, exp 35.0, previous 32.4
09h58 CET: EZ Apr Mfg PMI, exp 36.7, previous 33.9
16h00 CET: US Mar Construction spending, exp -1.40%, previous -0.90%
16h00 CET: US Mar Pending Homes, exp 2.10%, previous 2.10%.


Overnight Rates & Indices:
EURUSD: 1.3346 – 1.3272.
USDCHF: 1.1376 – 1.1320.
GBPUSD: 1.4981 – 1.4918.
EURCHF: 1.5116 – 1.5073.
USDJPY: 99.57 – 99.12.
DowJones: 8'172 +0.05%
NASDAQ: 1'393 -0.13%.
S&P 500: 874 +0.14%.
Nikkei: Closed.
Crude Oil: $52.98 +1.86%.
Gold: $892.


Comments:
According to a government source, the results of stress tests that were submitted on 19 major U.S. banks in the United States should be published in the afternoon of Thursday 7th May. Citigroup and JPMorgan should be the banks having the greatest need for new capital.

The euro benefited from a falling U.S. dollar and yen following a renewed appetite for risk after the better than expected U.S. indicators published in the United States Friday. Fears that swine flu returned this weekend were quickly laid to rest, as experts expect that it is not more dangerous than normal influenza which is also a cause of the rise in "carry trades".
   
The events calendar is loaded this week with the report on U.S. employment, monetary policy decisions of the European Central Bank, the Bank of England and the Bank of Australia.

Good Day

Nicolas Longchamp
RTFX Ltd
Head Office
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Tel:  +356 27 78 01 35
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