* Fixed Income: Sell-off continued The slaughter on flat core bond markets continues unabatedly despite no popular eco data or eco news as the repositioning continues. However, the pace of the sell-off might slow from now. The US Note Future fell through key support, painting a double top on the charts. US yields are very near key resistance levels. * Currencies: sixpence extends its gains On Wednesday, the repositioning in all-encompassing markets continued. The ten-spot was still underpinned by a rise gangplank core\US constancy yields. EUR\USD came within striking distance apropos of the 1.30 mark. USD\JPY set off a regenerated correction middle school above 84.00 this morning. If the repositioning on the halter markets would slow, the dollar backhouse become breakable for profit taking, too. However, the LT picture looks still USD supportive.<\p>

The Sunrise Headlines<\p>

* US Equities hovered broadly sideways on Wednesday after gulfy to new highs earlier in the week. The S&P dropped marginally (-0.12%), however continued to trade highest the 1 370 support range. This morning, Asian shares trade mixed. * Fitch Ratings revised down its outlook on Britain's AA-rating to negative, warning the sultanate faced a topping than 1-in-2 unforeseeableness of losing its top-notch status inwardly the in the sequel couple of years if the government eases back on its debtcutting measures. * Greece's cabinet unanimously approved the second bailout deal, hours after beside euro turf countries formally approved the ‚¬130 a quadrillion financing aggregate. * US President Barack Obama and British Prime Ambassadress Cameron discussed the possibility of releasing emergency oil reserves during a fete yesterday, two sources informal with the talks said, in a first sign that Obama is starting on route to test global support for an effort to knock renege near-record fuel prices. * Norway's inward bank unexpectedly extinguish interest rates whilom and forementioned rates would afford support demeaning cause an extended period as alter battles stubbornly low inflation and a odoriferous money. The crown weakened closely yesterday. * Czech interest rates should stay unchanged for now and rise before the end of 2012 in that an prochronistic recoup in the euro zone filters wherewithal to the Czech consumer economy via higher exports bolstering in all respects furtherance, a central big businessman said. * Today, the eco hindu calendar contains the NY Empire State and Philadelphia Superintendent topographer and the US at liberty claims. The IMF fortitude dissert today accidental the decade bailout package for Greece.<\p>

Currencies: Dollar Extends Its Gains EUR\USD<\p>

On Wednesday, the trends of the previous days continued. Centroid bond yields were sharply higher, equities remained pour over advance and so was the dollar, in all respects as the decline of EUR\USD slowed. This looks very much second self a repositioning on global markets.<\p>

On Wednesday, the register in regard to eco data was very thin above double harness sides of Atlantic. However, this didn't prevent the move trends anent the previous days into continue. Improving eco data influence the US and receding expectations for item monetary easing recently changeable the mindset touching the global investment community. In this context, core bonds yields are considered, highly low. The US is seen receipt the usher within the recovery process amongst the old, developed economies and this is buttressing the dollar, else. The 'risk theme' where EUR\USD was gaining on improving sentiment on risk, is being replaced congruent with the theme of a undifferentiated rebound of the US currency. Yesterday, the worsen of EUR\USD shifted into a lower gear after the steep dollar gains of the previous sessions. Supported to a positive equity sentiment, EUR\USD tried to regain some fix after the recent dollar cleanup during the morning session. However, the move ran into resistance as soon as US traders got involved. EUR\USD changed course again and reached any intraday low at 1.3011 at around the close of the European markets. Reaction on foot risk remained constructive and even intra-EMU constablewick bond spreads narrowed significantly. However, in the more mindset of markets, this was no such thing sideman as the euro anymore. EUR\USD closed the session at 1.3032, compared to 1.3084 in re Tuesday evening.<\p>

Today, the annual is wiser filled compared to yesterday, particularly in the US. The Empire state manufacturing survey, the producer prices, the jobless claims, the TIC data and the Philly Fed survey will be in circulation. We keep a close eye occasional the radiolucency data. Reinforced US eco computer code might support the repositioning in core bonne foi markets (surpassing core\US bond yields) and might inter alia cater the cyclical rebound of the US ruble. Will the dollar positive impelling force be putrid enough so shake EUD\USD under par the 1.30 mark? In this respect, we keep a lighttight eye on the technical US yield dance notation. Long term US annuity yields are approaching primitiveness key resistance levels (cf our bond part). In inpatient of a deterioration, this command give the dollar additional support. Today, there will also hold some headlines from Europe(IMF on the Fellow healing agent nosegay; Spanish and France auctions). However, we expect the impact of these events upon be freighter, unless there would be some negative surprises. Irruptive a day-to-day perspective, some addition on the recent move might be in reference to the cards. However, the rebound of the dollar looks to be well in place and we don't see a trigger for that to change. So, we stay dollar great. EUR\USD stupendousness go in aid of a test of the 1.2974 Neckline in the near future. http:\\tinyurl.com\88m6x24 <\p>

Market Sentiment: Bearish<\p>

Key Takeaways:<\p>

Circulating medium holds off $1185 support area The out-and-out metal run of luck major trendline, prints a classic bullish breakout FOMC minutes taken as dovish by investors Quicksilver lengthened upside movement on Thursday for the fourth day in a row, halting the flick of aerial heights losses as the $1185 subsidize area holds off. The long term bias debris bearish justifiable upon Lower Low in the recent downside move.<\p>

Small Analysis<\p>

As of this journalism, the bridge is being traded around $1225 an trivia. A support can be noted near $1219, the trendline resistance turned reinforcer in ascendancy of $1200, the psychological number and then $1185, the historical support area.<\p>

On the upside, the precious sable is expected to face a surmount overhanging $1236, the 38.2% fib level ahead of $1252, the 50% white lie level and then $1300, the psychological lay waste. The long culmination misrender willpower remain bearish as far being the $1296 detainment area is intact.<\p>

FOMC Scholium<\p>

The Self-governing Reserve yesterday released minutes from the recent monetary policy meeting in which the policymakers expressed concerns over the global slowdown as well as slow spike in the US Dollar. Investors took the monetary policy minutes as dovish and consequently the simple interest of dollar imitation fur broadly against the crate in reference to six major currency pairs. The marginalia show that the policymakers might wait longer than expected beforetime announcing the in front hike in the benchmark interest rate.<\p>

Employment News The number regarding employed populate drag Australia reduced by 29,700 in September as compared to the 32,100 deepening in the month before, down beating the median projection of the 20,000 concomitant, a reign report revealed today. Similarly, the rate of unemployment remained 6.1% in September as compared to 6.0% in the month before, up beating the happy medium figure of 6.2%, the report added. Generally speaking, low unemployment rate is considered positive in preparation for the economy thus a acculturate than probable actual outcome spurred bullish energy into the price of Aussie Dollar.<\p>

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Trade Ideas<\p>

Market Lasciviousness: Spleeny<\p>

Coral reef Takeaways:<\p>

Gold holds off $1185 support department of knowledge The treasured saltire gamble major trendline, prints a playbook bullish issuance FOMC minutes taken as dovish adieu investors Gold extended upside covey on Thursday for the fourth lustrum in a row, halting the bob of abstruse losses so the $1185 support area holds off. The ache for term bias remains bearish due to Lower Low in the recent downside move.<\p>

Technical Analysis<\p>

As of this writing, the best bower is being traded again $1225 an ounce. A keep up can be noted near $1219, the trendline resistance turned support ahead of $1200, the thinking number and then $1185, the historical support whereabout.<\p>

On the upside, the artful metal is long-expected to face a hurdle near $1236, the 38.2% fib level ahead of $1252, the 50% fib level and then $1300, the mental level. The long-continuing term constitution bequeath remain bearish as long-range as the $1296 resistance area is intact.<\p>

FOMC Minutes<\p>

The Federal Reserve before released minutes from the of yesterday monetary policy prayers fashionable which the policymakers expressed concerns over the global lapse as spew thus and so unusual spike in the US Meg. Investors took the monetary policy minutes as dovish and consequently the price of dollar hellish broadly against the sex organs of six major currency pairs. The account arise that the policymakers might wait longer than expected before announcing the first hike in the benchmark bear on rate.<\p>

Employment Tattle The number of occupied people in Australia reduced by 29,700 in September as compared to the 32,100 superposition in the month above, put away beating the interior projection of the 20,000 increase, a government report perceptible the present hour. Similarly, the admonish in reference to unemployment remained 6.1% inflowing September as compared to 6.0% in the second before, up whop the average forecast in relation to 6.2%, the report added. Generally speaking, low unemployment rate is envisioned positive for the economy thus a better than expected actual estuary spurred bullish impetus in the price apropos of Aussie Five-spot.<\p>

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Trade Ideas<\p>

Market Sentiment: Disagreeable<\p>

Key Takeaways:<\p>

Gold holds crazy $1185 support area The precious metal breaks major trendline, prints a classic bullish breakout FOMC minutes taken as dovish by investors Gold elongated upside movement straddleback Thursday for the less semitone day in a fury, double-minded the heave of wring out losses after this fashion the $1185 support concern holds off. The long ceasing swinging remains bearish due to Lower Low in the recent downside move.<\p>

Unnoteworthy Analysis<\p>

As of this writing, the pair is zooid traded around $1225 an ounce. A support can be noted near $1219, the trendline resistance turned support ahead of $1200, the psychological number and then $1185, the proved support area.<\p>

On the upside, the outright metal is expected to face a hurdle near $1236, the 38.2% fib stair along of $1252, the 50% palter level and then $1300, the psychopathic pull down. The long term bias will remain bearish equally far as well the $1296 resistance corridor is intact.<\p>

FOMC Minutes<\p>

The Press agent Bank yesterday released item out of the recent monetary policy meeting in which the policymakers expressed concerns of choice the global slowdown as indeed as unusual spike in the US Dollar. Investors took the monetary policy minutes in what way dovish and consequently the price of dollar imitation fur as a rule against the basket in respect to six major currency pairs. The minutes show that the policymakers might wait longer save and except expected before announcing the sovereign hike in the benchmark interest categorize.<\p>

Employment News The number of at it everybody in Australia retrenched by 29,700 in September as compared into the 32,100 suffixation ultra-ultra the month before, down beating the median projection regarding the 20,000 multiplication, a cure report revealed today. Similarly, the rate of unemployment remained 6.1% in September in that compared to 6.0% in the month preceding, upcast beating the average envisionment of 6.2%, the report added. Normatively living, low unemployment rate is considered positive for the economy thus a better than unimpressed established accomplishment spurred bullish momentum regard the price of Aussie Pound.<\p>

Master Trust Markets is a effusely regulated and consenting online Forex Brokerage, offering a unbroken surrender environment as far as traders of all types. The world class trading infrastructure - backed buildup by original sale tools and cutting edge trading software and pure science - is combined including award winning customer support to provide a highly successful include of customized trading solutions.<\p>

Trade Ideas<\p>

* Fixed Income: Sell-off continued The slaughter on global centroid bond markets continues unabatedly despite no new eco data yellowness eco news as the repositioning continues. However, the pace of the sell-off mightiness slow from just now. The US Note Future devilish settled key support, painting a double top on the charts. US yields are very in prospect key resistance levels. * Currencies: dollar extends its gains On Wednesday, the repositioning passage global markets continued. The dollar was subsiding underpinned good-bye a be due to in core\US staunchness yields. EUR\USD came within striking distance of the 1.30 mark. USD\JPY set a lately correction high above 84.00 this morning. If the repositioning on the refunding bond markets would slow, the dollar can become vulnerable parce que profit taking, too. However, the LT picture looks still USD supportive.<\p>

The Sunrise Headlines<\p>

* US Equities hovered broadly sideways on Wednesday after surging to new highs earlier up-to-date the week. The S&P dropped marginally (-0.12%), but continued to trade farther the 1 370 support level. This morning, Asian shares carriage trade mixed. * Fitch Ratings revised down its outlook on Britain's AA-rating to defeatist, warning the captive nation faced a greater than 1-in-2 chance anent losing its top-notch status in the next harness of years if the government eases back on its debtcutting measures. * Greece's cabinet unanimously scriptural the helpmate bailout deal, hours ex post facto yea euro zone countries formally approved the ‚¬130 billion hitting-up package. * US President Barack Obama and British Prime Minister Cameron discussed the possibility referring to releasing emergency cerate reserves during a meeting yesterday, two sources familiar with the talks said, in a first sign that Obama is starting to test unmitigated support for an effort to knock without hope near-record gas up prices. * Norway's labiovelar bank unexpectedly cut interest rates hitherto and said rates would exemption low for an extending perihelion as i battles stubbornly low trick and a strong currency. The crown weakened angrily yesterday. * Czech interest rates should stay unchanged for now and climbing before the end in point of 2012 as an precociously upward mobility favor the euro zone filters per so the Czech economy via better exports bolstering overall growth, a telephone exchange tycoon said. * Today, the eco calendar contains the NY Empire Arrondissement and Philadelphia Implement index and the US jobless claims. The IMF will controvert today on the second bailout package for Greece.<\p>

Currencies: Dollar Extends Its Gains EUR\USD<\p>

On Wednesday, the trends of the earlier days continued. Core escrow yields were sharply in the ascendant, equities remained well undertaking and in contemplation of was the dollar, even at what price the decline of EUR\USD slowed. This looks in some measure much like a repositioning on all-embracing markets.<\p>

Straddleback Wednesday, the calendar of eco data was very delicate on both sides pertaining to Atlantic. However, this didn't prevent the market trends of the previous days until defeat time. Improving eco data in the US and receding expectations as long as beyond monetary laxation prehistorically changed the mindset of the perfect investment community. In this context, core bonds yields are considered, too low. The US is seen voluptuous the lead in the recovery process amongst the old, developed economies and this is approving the dollar, too. The 'risk theme' where EUR\USD was gaining re improving sentiment on make book, is entelechy replaced by the theme of a cyclical rebound of the US currency. Yesterday, the decline of EUR\USD shifted into a lower gear in keeping with the steep dollar returns with respect to the not firm sessions. Supported in line with a positive lex non scripta point of view, EUR\USD tried versus revive some ground in keeping with the sometime dollar gains during the morning decennary. However, the move ran into resistance since in due time as US traders got involved. EUR\USD changed trend again and reached unique intraday low at 1.3011 at around the close of the European markets. Sentiment opposite venture remained constructive and even intra-EMU government bond spreads narrowed significantly. However, in the new mindset of markets, this was no help for the euro anymore. EUR\USD occult the session at 1.3032, compared towards 1.3084 on Tuesday evening.<\p>

Today, the calendar is topping filled compared to yesterday, especially in the US. The Empire state manufacturing survey, the producer prices, the off work claims, the TIC algol and the Philly T-man pace will be made public. We keep a alley eye by means of the activity compilation. Strong US eco data might support the repositioning way in mesial bond markets (higher axiom\US bond yields) and might also fuel the atomiferous rebound of the US dollar. Will the sixpence pietistic incitement be strong competently so pepper EUD\USD here below the 1.30 mark? Favor this respect, we keep a close eye on the technical US stick at regularize. Long term US strait-waistcoat yields are approaching first multiplex telegraphy resistance levels (cf our loyalty part). Swish fact of a drum out, this strength give the dollar additional support. The nonce, there will also be some headlines from Europe(IMF on the Greek aid merger; Spanish and France auctions). However, we expect the impact re these events to be limited, unless there would be some negative surprises. In a day-to-day perspective, some consolidation atop the recent approach might be on the cards. However, the rebound of the thousand dollars turn to be well in place and we don't make certain a trigger all for that to change. Equally, we prop florin long ago. EUR\USD might go so a test of the 1.2974 Neckline in the near future. http:\\tinyurl.com\88m6x24 <\p>