Forex News

The day started early as a Greek Newspaper Article started doing the rounds amongst the Asian traders (see below).  The article mentioned an imminent deal and specified times in which the negotiations between Greece and the “Troika” would be finished.  

With attention in the Australian market well and truly focused on today’s Q1 GDP release, it is important to put today’s result in context. Importantly, as Figures 1 and 2 highlight, the weakness in Q1 GDP growth (% q/q) can be largely attributed to mining sector weakness in Queensland.

Floods hit coal exports but domestic demand strong Domestic demand was strong! That should be today’s headline. Instead, most will report that GDP fell by its largest amount in 20 years. True. It did.

WELLINGTON, June 1 (Reuters) – Australia’s state-owned National Broadband Network awarded a contract to Sweden’s Ericsson <ERICb.ST> worth up to A$1.1 billion ($1.2 billion), the latest in a string of contracts to build the A$35.9 billion network.

EUR/JPY has started to erode its 55 day ma and in doing so indicates that it is ready to break higher from its sideways range. Our stance is neutral to positive as we regard the market has having based recently at the 200 day ma at 113.23 (note the 55 WEEK ma is also located […]

Greece : Details, dates and disbursements Over the weekend the stream of headlines regarding the various negotiating positions of the ECB, IMF and Eurozone governments has continued.

Developed macro 1.       US data disappointments fail to dent markets amidst better Greek sentiment 2.       US: The ISM Manufacturing index to decline in May matching drops in regional manufacturing indices

There has been significant client interest and mixed analyst opinions in the market about how to read the recently announced consent solicitation suggested by Kazakh Gold.

BoC is today and almost no one thinks they’ll move, see market exps derived from curve below BoC expectations for a hike are: 0% priced for today 15% priced in for Jul19 17% priced in for Sep7 28% priced in for Oct25 35% priced in for Dec6

AUD traded poorly this am.. We have the soft GDP to come out tonight which is causing a few to pare back longs..

Summary Central Bank of Russia (CBR) raised deposit rate from 3.25% to 3.5% on its rate setting meeting on May 30. It left refinance and REPO rates on hold at 8.25% and 5.5%, respectively.