By Vicki Schmelzer

NEW YORK, March 11 (MNI) - Thursday was largely a tease, a day where several financial market instruments came within a few points of a penetrating key resistance/support levels but failed to follow through.

Dollar-Canada came within striking distance of key support at C$1.0215/20 (Wednesday's new 2010 lows/January lows) and the Mexican peso posted a new 2010 high near Mxn12.5639, thereby taking out the prior 2010 high of Mxn12.5644 from January 11.

By Vicki Schmelzer

NEW YORK, March 10 (MNI) - Several days of fifty-degree weather in New York City, combined with increased belief in a global recovery -- aided by Chinese trade data -- led market players to embrace risk appetite Wednesday, traders said.

However, while some flirted with key resistance levels in stocks and currencies earlier, there was a lack of followthrough, and players pared back positions once it became clear there was a lack of upward momentum.

By Vicki Schmelzer

NEW YORK, March 9 (MNI) - Foreign exchange and commodity markets took their cue from U.S. stocks Tuesday, with initial risk appetite later followed by a paring back of risk positions.

The Nasdaq Composite posted a new 2010 high of 2353.07 earlier only to close at 2340.68

The S&P 500 rose to a high of 1145.35 Tuesday, about 5 points shy of the 2010 high of 1150.50, posted January 19.

By Vicki Schmelzer

NEW YORK, March 8 (MNI) - Financial market players started out a new week "watching the paint dry," but that could change in coming sessions as upcoming data offers insight into underlying fundamentals in the U.S. and China.

A modicum of risk appetite underpinned U.S. stock and commodity prices and U.S. Treasury yields edged higher on supply jitters.

On the FX front, dollar-yen and yen crosses held a firm tone, while the euro and other currencies remained on the defensive.

By Vicki Schmelzer

NEW YORK, March 5 (MNI) - The prospect of non-farm payroll gains in March was enough to increase risk appetite Friday.

Stock and commodity prices rose and the dollar lost ground against the euro and other currencies, except the yen, on the belief of more sustained U.S. recovery.

U.S. February non-farm payrolls fell by 36,000 in February, versus MNI's median estimate of a 50,000 decline. January and December saw upward revisions of 35,000, largely offsetting February losses.

By Vicki Schmelzer

NEW YORK, March 4 (MNI) - Friday's U.S. non-farm payroll report will likely be skewed by weather-related factors as well as the hiring of census workers, leaving financial market players clamoring for "clean" data instead.

"We won't have clean numbers for a long time," traders opined.

The median estimate in a Market News International survey of economists is for U.S. non-farm payroll report payrolls to fall by 50,000. Estimates range from -150,000 to +30.000.

By Vicki Schmelzer

NEW YORK, March 3 (MNI) - A relief rally in the euro and other currencies, as well as in stocks and commodities, served to bolster risk appetite Wednesday.

The S&P 500 closed flat at 1118.79, after trading in a 1116.74 to 1125.58 range.

Spot gold closed at $1139.75/oz, after trading in a 1132.80 to 1144.60.

The break above last week's highs, as well as down-trend resistance from the January peaks, was deemed bullish for both instruments.

By Vicki Schmelzer

NEW YORK, March 2 (MNI) - The euro and other major currencies held a firm tone versus the dollar Tuesday, but the greenback remained well within recent ranges, with no suggestion of a larger breakout lower.

Risk appetite was evident for much of the day, with commodity and stock prices pushing higher before retracing the gains into the close.