So far throughout the US session major pairs consolidated as a result of technical movements and also as today we witnessed a calm day on the U.S soil with a lack of data released.

Yet Dallas Federal Reserve’s President Richard Fisher told CNBC reporters earlier that a scale back for the Fed’s monthly $85 billion in bond purchases should be the key, as halting it would be “too violent for the market.”

Accordingly the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.2869 while recording the highest level of $1.2880 and lowest level of $1.2818, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators. The trading range for today is among the key support at 1.2560 and key resistance at 1.3030.

As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.5241 while recording the highest level of $1.5243 and lowest of $1.5238 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.The trading range for this week is among key support at 1.4995 and key resistance at 1.5385.

Finally, as a result of mixed signs witnessed throughout the momentum indicators at different time charts the USD/JPY pair is consolidating around ¥102.45 while recording the highest level of ¥102.93 and lowest levels of ¥102.03. The trading range for today is among key support at 100.35 and key resistance at 105.05.

U.S. government debt dropped to the least costly level since March 2011, when measured by real yields and the best relative value compared with German bunds in more than 23 years, after the longest descent in Treasuries in 2013.

Subjected to inflation, 10-year U.S. notes yielded 0.91 percent last week or 1.77 percentage points more than U.K. gilts real yields, the widest spread in over 25 months.

Against Germany, the notes are the cheapest in 23 years when adjusted for the most recent record-low interest rates around the world, which curved the normal relationship.

Treasuries have lost 0.33 percent this year, including reinvested interest, compared with 0.93 percent for the global sovereign bond market, Bank of America Merrill Lynch indexes show.

Treasury 10-year notes fell in each of the past three weeks, the longest stretch since December. Yields have risen from 1.66 percent on April 26 amid reports showing gains in jobs and consumer confidence. The price of the benchmark 1.75 percent security due May 2023 declined 15/32 last week, or $4.69 per $1,000 face amount, to 98 5/32.

Wall Street stocks` rise into fresh record territory reduced earlier safe-haven bids for bonds.

Speculation about whether the U.S. Federal Reserve will begin slowing its bond purchases later this year also put selling pressure on the debt market, as analysts have become more comfortable with the view that the economy is on a firmer footing and job growth is on a sustainable path.

Three Federal Reserve regional bank presidents, Richard Fischer of Dallas, Charles Plosser of Philadelphia and Jeffrey Lacker of Richmond, called last week for the central bank to phase out the $40 billion monthly purchases of mortgage-backed securities. It’s also buying $45 billion of Treasuries a month.

European stocks climbed to new record highs on Monday, boosted by a rally in German stocks, with banks and automakers the best performers, with the British benchmark FTSE 100 index closing at its highest level in 13 years.

U.K.`s FTSE 100 index ended at the highest closing level since September 2000 on Monday, according to FactSet, boosted by banking shares and a rally for budget airliner EasyJet PLC.

STOXX 600 ended higher today by 0.33% at 309.75; STOXX 50 ended also in green, higher by 0.22% at 2824.10.

CAC 40 Index  

The French benchmark index ended in the green today to settle at 4022.85, higher by 21.58 points or 0.54%. The index opened at 4005.42 recording a high of 4022.85 and a low of 3993.12. Within the index, 29 shares ended higher and 11 declined.

The best performers in terms of added value to the index were led by Alstom SA which inclined 3.09% to settle at €28.57. Following was STMicroelectronics NV which surged 2.73% to settle at €7.52, while coming in third was Publicis Groupe SA which rose 2.37% to close at €56.91.

DAX Index  

German equities advanced today where the benchmark index DAX 30 ended higher by 57.83 points or 0.69% to close at 8455.83. The index opened at 8434.97 recording a high of 8456.24 and a low of 8401.74. Within the index, 22 ended higher and 8 ended lower.  

Driving the index higher by contributing the most to the index today were led by Commerzbank AG that gained 8.78% to €8.50; following was by Deutsche Lufthansa as it added 3.61% to €16.07 and Volkswagen AG which added 3.24% to €173.85.

FTSE 100 Index  

The British benchmark index ended the day higher to settle at 6755.63 with a gain of 32.75 points or 0.48%. The index opened the day at 6723.06 setting the high of 6755.63 and the low of 6709.14. Among the listed shares, 71 ended higher and 29 declined and 1 share remained unchanged.

Leading shares in terms of contribution today started with Royal Bank of Scotland PLC which surged 4.48% to close at £351.90; following was easyJet PLC which added 3.96% to end trading at £1235.00 and SSE Plc which added 2.75% to close at £1646.00.