Daily Forex View- 10:00 GMT- 30 June 11 North America-Europe

By: Milla Shaw in Forex Consultant on Jun. 28, 2011

 

 

  • Thursday sees yet another key vote on the Greek austerity package. The vote is on the implementation of the budget approved yesterday. Odds are it will be approved. Current estimates are for a vote at 15:00 local time, or 12:00 GMT. Don’t be surprised to see this time line slip.

  • In a sense the markets have already moved on with the EURUSD testing above the 1.4500 level earlier today. The EUR is mixed on its crosses.

  • The Japanese manufacturing PMI out earlier today was above the key 50 level for the second straight month, but at 50.7 is only barely in positive territory.

  • German real retail sales and employment data out today were mixed.

  • The Eurozone flash June HICP estimate at 2.7% was less than forecast, but the same as in May..

  • The 7yr note auction note auction Wednesday went poorly after a weak 5yr auction the day. QE2 of the Fed runs off today.. 

  • Thursday sees another active data calendar..

Forex pairs vs 2yr note spreads


   Forex   #REF!     GBP vs. 8:57 EUR 1.4384 24 JPY 116.63 15 JPY 129.81 8 GBP 1.6010 16 GBP 89.84 6 CHF 133.12 4 CHF 0.8315 6 CHF 1.1960 11 CHF vs.     JPY 81.08 3       JPY 97.51 3

Some traders focus intently on the Japan vs. U.S. 2yr note spread .

COMMODITIES and Commodity Currencies


   Commodity         8:57 CAD 0.9789 35 AUD 1.0586 46 Gold 1508 7.49 CNY 6.4633 57 NZD 0.8187 74 WTI 93.43 0.52

EQUITIES & INTEREST RATES

Bonds are a counter to risk trades because risk investments must be financed. When the cost of money moves up , the return and allure of risk trades such as equities falls. 


   Equities           8:57 NIK 9797 148 DAX 7257 86 DJIA 12189 0 HSI 22061 1 FTSE 5823 56 S&P 1297 0 SSEC 2898 0 SMI 6519 0 NAS 2729 0 ASX 4529 55       TSE 13105 5

See ECONOMIC CALENDAR for a complete list of future forex market events and consensus data estimates. Go to the forex forum for uptodate market developments and technical trading ideas.

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