The euro recorded gains against most of its major counterparts, as the European Financial Stability Fund (EFSF) managed to raise EUR 1.5 billion from the auction of the introductory 20-year bonds. They were priced 115 basis points higher than the benchmark swap rate, attracting almost EUR 4.8 billion of orders. This auction was successful according to EFSF CEO Regling, enhancing the market's belief on eurozone's financial firewall capacity. The Greek Finance Minister Venizelos offered his resignation to lead his party in the forthcoming elections, expected to be held within the next two months. The outcome is extremely important as a new government may lack the political strength and willingness to stick to the stringent austerity measures. Against the US dollar, the single currency rose to 1.3228 from 1.3173. Versus the Japanese yen, the euro recorded a 5-month high at 110.56, rising to 110.30 from 109.86. Japanese banks will be closed today in observance of Vernal Equinox Day.
The US dollar was softer versus a basket of currencies as comments by Federal Reserve Bank of New York President Dudley heightened risk appetite. Dudley, a known ally of Fed Chairman Bernanke, painted a mixed picture suggesting recent data point to the recovery gaining speed but warned that the recovery remains fragile nonetheless. Versus the Swiss franc, the US dollar dived to 0.9117 from 0.9158.
Oil prices rose to 107.83 from 107.28 dollars a barrel. Gold opened at 1663.37 and closed at 1663.15 US dollars an ounce. Against the euro, gold dropped to 1257.39 from 1260.18 an ounce. Silver rose to 32.8866 from 32.6372 dollars an ounce.
|EURUSD||1.3185||LONG @ 1.3185||43% of deals buy EUR|
|USDJPY||83.00||LONG @ 83.05||36% of deals buy USD|
|GBPUSD||1.5815||LONG @ 1.5825||29% of deals buy GBP|
|AUDUSD||1.0550||LONG @ 1.0550||41% of deals buy AUD|
|GOLD||1652||LONG @ 1652||76% of deals buy GOLD|
|OIL||106.90||LONG @ 106.90||23% of deals buy OIL|
|GBP||09:30||Consumer Price Index m/m for February||0.5%|
|GBP||09:30||Retail Price Index m/m for February||0.6%|
|USD||14:30||Build Permits for February||0.69 mil|
|FTSE 100||-0.07%||S&P 500||0.40%||NIKKEI||0.12%|