Forex Market
Macrobullets – Tuesday July 12
TOP Euro zone FinMins promised cheaper loans, longer maturities and a more flexible rescue fund to help Greece and other EU debtors in a bid to stop financial contagion engulfing Italy and Spain {http://bit.ly/pjRYNn}. Full 1 page statement here: {http://bit.ly/oASyeu} The euro fell to a four-month low of 1.3933 after new IMF MD Christine Lagarde […]
UniCredit EEMEA Daily – June 29
RO: Positive – Unemployment rate drops further to 5% at end-May (p2) Today’s Events HU: May Unemployment / KZ: 1Q GDP, KZT 13bn floating rate 2020 GB auction / LN: Consumer confidence / PL: 1Q C/A / RO: Policy Rate announcement / SRB: 53W RSD 20bn t-bill issue / RU: RUB 20bn 2015 and RUB […]
HK Overnight Wrap, Orderbook & Flow and USD/Asia run
HK Overnight Wrap Very quiet Asian session as the market seemed to have been chopped out of most short term positions overnight and now sitting tight and waiting for the headlines and voting to start from Greece.
FX DAILY STRATEGIST: Europe – 28 June 2011
FX to remain highly skittish/low flow ahead of Wednesday EURUSD and EURCHF downsides look the more vulnerable barring clear signs Greek Budget will pass USDJPY topside resistance above Y81.00 could be reinforced by strong IP data Wednesday.
Daily Forex Outlook: Pattern recognition
EUR-USD (1.4290) Today the Greek parliament will vote on the latest austerity plan. Market participants are naturally concerned about the outcome, especially as the most vocal MPs seem to be those who will vote against it.
UniCredit EEMEA Daily – June 28
News RO: Positive – budget deficit shrinks to less than 1.4% of projected GDP (p2) KZ: Neutral – Money base shrinks 2.2% mom (-1.0% momsa) (p2)
Awaiting Greek votes on Wednesday and Thursday, then ISM and a US holiday
A revised agenda for the Greek parliament, with the MTFS discussed today but not voted for until Wednesday afternoon, prolongs uncertainty and will only add to the current erratic behaviour of markets.
HSBC FI – Greek rolls gather momentum
Brady-type plan for Greek creditors Details are still emerging from the meeting in Rome yesterday but it is already clear that this is not an exact replica of the Brady plan from 1989. This is because under the Brady plan there was a guarantee from the US government,
UK focus to the am session , BoE members + UK GDP (3rd)
UK focus to the am session. Posen still as doveish as ever overnight. Senior BoE members willappear before the Tsy Select committee to discuss the May Inflation report at 10am UK GDP (3rd release) at 9:30)…see our preview below
HSBC MacroBullets – Monday
TOP World’s biggest banks face 1-2.5 pct surcharge by end 2018. Surcharge will be on top of Basel III 7 percent minimum . Surcharge to be in form of core tier 1 capital. {http://bit.ly/kjCQdO} Chinese Premier Wen Jiabao signalled for the first time that China would struggle to meet its 4% inflation target this year […]
Daily Forex Outlook: Saliency and the Greek debt crisis
EUR USD (1.4125) An upbeat German IFO was the one piece of good news that emerged from the eurozone on Friday; at least growth in the zone’s largest economy still seemed on track. Thereafter, however, the market focus returned to the Greek debt crisis and the prospects for the passage of a new austerity plan.
Daily Forex Outlook: The last word on QE3 has probably not been said
EUR USD (1.4265) Ben Bernanke recently admitted not knowing why the slower pace of growth is persisting, but avoided any mention of another monetary easing programme. The Fed chief reported that the QE2 programme has been very successful in eliminating deflation risk and so the conditions right now are very different from when it was […]