The markets have picked up in European trade, with currencies broadly bid against the buck.

MORNING SLICES



FUNDYS

However, it is the major currencies that have jumped in front, with the normally better bid commodity bloc lagging behind. There has been no apparent direct catalyst for the moves, with most citing the price action...

FXCM Speculative Sentiment Index (SSI) Statistics:





Intraday Highlight:

NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.06 as nearly 51% of traders are short. Yesterday, the ratio was at 1.08 as 52% of open positions...

Oil and gold prices may decline amid expectations for a sharp increase in borrowing costs as the US Treasury’s monthly budget statement shows the largest monthly shortfall since records began nearly 33 years ago.

Commodities - Energy

Oil May Break Support as Monthly US Deficit Hits Record

Crude Oil (WTI) $81.25 -$0.24 -0.29%

Prices have pulled back from resistance at $82.23 to find support at a rising trend line established...

The British Pound declined against the spectrum of major currencies in overnight trade after a disappointing set of house price and retail sales figures as well as rumors that Moody’s may downgrade the bonds of several UK banks.

Key Overnight Developments

• UK House Prices, Retail Sales Disappoint in February
• Australian Business Confidence Surges to 7-Year High
• WSJ Article: Moody’s May Downgrade UK Bank Debt


Critical Levels...

US Dollar Weathers a Rebound in Risk Appetite, But for How Long?
Euro at Impasse versus US Dollar: Further Losses or Sharp Bounce?
Japanese Yen at Risk On Risk Appetite and Expected Monetary Easing
British Pound May Consolidate After Falling to 10-Month Low
Swiss Franc Remains Tied to Trends Driving Other Currencies
Canadian Dollar Eyes Parity with the Dollar as Labor Data Approaches
Australian Dollar Poised to Test Major Highs on S&P 500 Rallies...