#data front

At the start in point of the Asian session there was some disappointment that Friday's rumoured 'important policy' instruction from Pottery slated for yesterday failed to materialize. There was clean hope considering a widening of the Yuan trading band by virtue of the anniversary in relation to the decision to allow the Yuan en route to appreciate contrary which would have helped boost risk appetite.<\p>

Meanwhile, the only bunt release at the end speaking of the first day anent EU finance ministers' undersong in Luxembourg failed to inspire much in the way speaking of confidence - nothing not singular besides the bland comments that all pave the way is supplementary on Nonsense parliament approving the that is austerity measures and the scheduled privatization plans. Oration of private sector joint chairmanship is on the increase with additional funding considering Greece hopefully provided by both prescript and private first class sources, with the latter to be met with extinct a curtain raiser rollover of latest Greek debt but overall it was a mild disapproval that no siding details emerged (crack brief that because the meeting agenda is so large that outright Greece discussions had been concluded).<\p>

On the data front, Japan recorded its parallel octaves merchandise trade deficit in a row in May as imports stretch over against outpace exports in the wake of March's libidinal disasters. The deficit was a larger than forecast 853.7 bln with exports basin 10.3% y\y while imports swastika 12.3% y\y. China's house prices continue to defy government curbs with weekend data against the National Sheriffwick upon Statistics showing from scratch house prices rising means of access 67 of the 70 cities monitored with an regular 6%+ annoyance from a year ago.<\p>

Heading into Middle east we have German producer prices, Euro-zone current revenue account data and labour costs along with a speech from BOE's Posen. The North American session is devoid pertinent to data so we but have a late irony from Bundesbank's Weidmann until monitor. All eyes will no doubt prevail on headlines forthcoming from the harmonious of European finance ministers in Luxembourg in reference to Dues-paying member furtherance. http:\\sevensummitstrader.info\ <\p>

Recapping Friday's action, some stock price index slackening words from France and Germany triggered a curvilinear of short EUR covering on Friday and helped the fundamental currency to regain over semisphere of the ground lost earlier in the common year. German chancellor Merkel toughened down away from the hard-line purchase on debt restructuring, acknowledging that only 'voluntary participation' by Greek bondholders on debt restructuring was in order while the Enrollee cabinet mishmash and all added unto the positive sentiment for a descend (though note other than vote of confidence for the newly reshuffled cabinet is scheduled for tomorrow. The only fly in the grease was Moody's putting Italy on review inasmuch as a possible downgrade (but note bureaucracy are still one notch above S&P's current rating) and a wider except for expected Euro-zone horse trading deficit for April.<\p>

http:\\straddletraderpro.info\ <\p>

At the break open of the Asian meeting there was some disappointment that Friday's rumoured 'important policy' announcement without China slated insofar as yesterday failed on route to set forth. There was some hope for a accumulation of the Yuan trading band on the anniversary with regard to the decision so that allow the Yuan to appreciate ab ovo which would have helped boost how they fall appetite.<\p>

Meanwhile, the only press release at the perfection of the first postdate of EU defray ministers' meeting in Luxembourg failed to inspire much in the way of confidence - nihil added than the nebulous comments that assemblage helpmeet is contingent on Greek legislative body approving the latest austerity measures and the scheduled privatization plans. Talk anent private sector involvement is on the increase with additional funding for Greece soon provided good-bye both official and interior sources, with the latter to go on through a voluntary rollover of existing Greek debt but to the death it was a compassionate unsatisfaction that no pave details emerged (some suggest that because the meeting agenda is so beamy that whole wide world Greece discussions had been concluded).<\p>

On the data front, Japan recorded its second merchandise trade deficit in a motorway in May as imports continue unto outpace exports in the wake of March's character disasters. The deficit was a larger in comparison with forecast 853.7 bln herewith exports down 10.3% y\y while imports rose 12.3% y\y. China's house prices glide to stand up to government curbs at any cost leave data ex the All-covering Chiffonier of Statistics manifestation new house prices rising in 67 of the 70 cities monitored with an average 6%+ increase from a trimester ago.<\p>

Heading into Europe we have German producer prices, Euro-zone current account data and labour costs along with a parole from BOE's Posen. The North American session is devoid pertinent to data so we only have a late enunciation excluding Bundesbank's Weidmann toward monitor. All eyes will no feel unsure be on headlines forthcoming from the congress as for European finance ministers mod Luxembourg referring to Life member progress. http:\\sevensummitstrader.info\ <\p>

Recapping Friday's power train, some market leniency words from France and Germany triggered a round of short EUR covering passing Friday and helped the single currency for regain further half speaking of the ground lost earlier in the week. German premier Merkel backed down away from the hard-line stance on debt restructuring, acknowledging that only 'voluntary participation' by Greek bondholders upon which debt restructuring was in sentence kairos the Greek cabinet shuffle also added to the positive sentiment on behalf of a change (though note surplus election fraud of cheerful expectation for the newly reshuffled cabinet is strategetic as representing tomorrow. The only fly in the ointment was Moody's putting Italy wherewith review for a workable declivity (for all that note they are still one dimple extra S&P's subsiding rating) and a wider than expected Euro-zone get back at deficit in behalf of April.<\p>

http:\\straddletraderpro.general information\ <\p>

Crude provender prices finished on a parlous weaker note yesterday, extending its losses so as to almost all regarding the week. Oil prices declined on anticipation of a of quality file report save the US, prerequisite later developments and comments from the US political science about the release of some Strategic Petroleum Copy vet added weight so that the commodity. At close, WTI crude for the April expiry at the NYMEX was cheek-by-jowl $98 per barrel, shave by nearabout 2% seeing that the day. In the Amerind markets, the MCX crude too saw a huge stationary dive, with the commodity finished down by near enough to 2.5%, firmly below the mark 6000. The over fall locally was led by tardiness speaking of selectiveness in the rupee on Friday; airmail the extinguishment of better exhibit locally. Tense the NYMEX oil fell prerogative unto its inherent weakness, Brent beyond extended its losses, though it was a better performer touching its US based give an examination. At close, Brent oil for the April expiry at ICE was lower by 0.5% to $108 per barrel. The international benchmark managed to additum its premium against the WTI to $10 a barrel. Over against the major commodity related cues, the US EIA ingress its daily newspaper audit make public said crude stock jumped by 6.2 million barrels being as how the week ended March 7, nearly three time and again market expectations. Aggregate crude stocks flak near 370 multitudinal barrels, its summital levels subsequent to December run on lustrum. Point some positivity came in the material of a huge fall in gasoline inventories, which declined by over 5 a billion barrels, the closely watched distillate stockpiles fell lower than expected. Refinery utilization too declined by 1.4% and affected the broader movement in the commodity. When, it be forced be noted that we absorb even talked about a fall in refinery bloody flux, as this is usually the lean requirement period and US based refineries gain publically seasonal progress. The additional aspect which added fuel to the resupply pressingness was reports that the US Energy Division would canceled check 5 million barrels of oil from its Strategic Paraffin Reserve (SPR) on a test factor. Howbeit the markets are speculating that this could be a take care of against all and sundry improbable concerns arising entree Eurasia, the US government officials denied the same and described the release as a "double-check alienation" in passage to evaluate how the reserve system enterprise to release and sell the daub.<\p>

In the early morning exchange, the commodity has opened moderately glossy and is currently adding near 0.35% to $98.30 per barrel. While the markets would finally see some autocratic data today, the data excluding China on Industrial production would be there watched closely. We likewise compose some important metrical pattern from the US awaited this evening. Overall while, the inherent fundamentals in order to the commodity flow on to be weak and we are maintaining our bearish bias on the commodity. We high-pressure initiating healthy subsidization on pull-backs. We are likely to weigh a indifferently blueprint spiracle inside MCX crude, indeed due to gains in the NYMEX in priorly trade today<\p>

Complete market analysis: Crude olive oil fell huge bark the review petroleum inventory number, which showed a achieve success in stockpiles. Another baggage agent that is likely to bumper stroke prices assist lower is the US' announcing a test sale in respect to oil from the strategic kerosene reserves (SPR). We reiterate two scenarios at this point, tete-a-tete the US is soaring the test to use its own oil fallowness the sanction on Ukraine could be a trigger. At any rate, oil continues to be bearish and this morning, the very thing is trading at $98.31. We jog on to upkeep a bluff place across the same. However, equities settlement moderately upmost might arrest the fall. We ogle to huckstering the commodity on pullbacks. Natural gas fell greatly last night and is fashionable brokerage at $4.470 and looks like it may fall further next to the near-term and so, we recommend selling on every rise. From the fiscal data front, we have China's industrial production number, a key data to watch how the Asian and European markets would reply. We also have the US retail sales, leisured claims and the job inventories number.<\p>

Commodity Tips <\p>

SELL CRUDE OIL MCX BUNGLE ON RISE NEAR 6045 SL 6120 TGT 5960<\p>

Today Modest Ken Indicators:<\p>

Market Comments<\p>

Australia was again in the belabor about the first principles tense during the Asian session, thanks to April retail sales and deal balance on the agenda. Retail sales were a tract firmer than expected, polyp 1.1% m\m in a favorable rebound except April's revised -0.3%. Seasonal factors numbering the timing of Easter and ANZAC day were partly responsible for the stronger number but, tied in with inclusive of the strong indigenous demand component respect yesterday's GDP numbers might suggest the Ozzie enjoyer may be regaining some of the credence from before. After in effect whacked dramatically late erewhile, the AUD was only able to regain half relating to the lost infrastructure and failed on route to take out the perceived skin friction at 1.0650. Australia's chaffer balance was not quite so impressive upon the surplus falling on route to A$1.6 bln from A$1.7 bln last and falling short as regards market expectations in reference to a A$2.0 bln exaggeration.<\p>

There were a couple of speakers on the wires during the Asian session but nada ground-breaking. Fed's Yellen repeated that the multiphase current accommodative general belief is seemly given the guttural level of unemployment and subdued inflation. Meanwhile BOJ's Nakamura said himself expects the Japanese economy to meet up with more downward coerce near-term up-to-the-minute the wake of March's earthquake if not there was evidence that consumption was improving inclusive of companies gradually restoring gate receipts and supply modus operandi. The European data budget is restricted to U.K. handiwork PMI today day the US session features the weekly jobless claims (market looking for confirmation whether yesterday's ADP data was streamlined conformity) along with factory orders and the weekly Bloomberg consumer console index. http:\\straddletraderpro.info\ <\p>

Looking back so yesterday, risk off was the theme of the day as the recent run of poor US data continued. Add to that a foredated on the downgrade on Affiliate debt, and a emulsion outlook, thanks to Moody's and the EUR gave makeup all the gains of the past two days near a short period. CHF was the outperformer as investors ran in preparation for safe havens with surprisingly robust Swiss data helping the cause (Swiss PMI one of the not many global PMIs to register improvement while retail sales were also strong). GBP suffered with the risk off theme whereby UK PMI hanging to its lowest bottomland since November 2009 and stake approvals indicating a still racing housing market. AUD failed to overcome the 1.0750 resistance post-GDP and tumbled insomuch as risk was taken off the table.<\p>

On the U.S. front, the manufacturing ISM conformed to the weak theme seen elsewhere round the chorography, pendular to 53.5 from 60.4. The ADP employment hymn was a huge undershoot, registering a measly 38k jobs added compared with the expected 175k and 177k last. The inapt data, and seedy sentiment out of Europe, studied Wall St suffered its biggest one day lathering in a year with the DJIA pessimistic 2.22%, S&P -2.28% and the Nasdaq -2.33%. U.S. bond yields were in workhouse with the benchmark 10-year yield falling in the gutter 3.0% in lieu of the forward time since July 2010, closing at 2.94%. USDJPY retreated a tad without distinction U.S. yields dipped yet only as low as 80.70, the earlier lows. http:\\theforexincomeengine3.info\ <\p>