19 June 2012 strategist 07: 05 GMT Talking Points
Unlikely to find British pound support sustainable stable CPI result Euro looks like German ZEW, comment of the g-20 leadership indices Dollar sold on corrective figures flows overnight despite Asian Stocks Drop UK CPI are the first to enter the spotlight as Europe is in line with expectations, suggesting the overall inflation rate will remain at 3% in May. While this done little to advance the case for a dove more and more of the Bank of England, it is even unlikely to divert already significant winds on the political front after last week, the unveiling of a new credit-loan program. Although fully operational details are a little murky, speculation that it will be funded with the new creation of liquidity similar to the trigger seems likely to keep the British pound relatively capped for the moment. In this spirit, trends in risk appetite may be more important as a driver of the action of the price in the short term until the releaseofminutes of the future of the June meeting BoE offers more clarity.
In this spirit, the attention turns to the gauge German ZEW investor confidence. Economists forecasts suggest that the overall index will facilitate to 39.0 in June, snapping a two month winning streak and printing at the lowest since March. The forward-looking economic sense should reduce to the lowest since January. The result can be used to remind investors that apart from generating the spectrum of the instability of the financial markets, the fiasco of euro-zone debt represents a significant brake on global growth by the sinking of the economy of the block of money - about a fifth of GDP - global world into recession this year. Such an outcome is likely to revitalize demand for refuge currencies, including the US Dollar and Japanese Yen weighing on the Euro in construction rates ECB reduce expectations.
Negotiations Coalition to power in Greece and secondary commentary from the second day of the meeting of the g-20 summit to the Mexico represent potential wild cards for the feelings of risk and thus the spectrum of major currencies. In Athens, ND leader Antonis Samaras seems to have gained the support of the leader of the Pasok Evangelos Venizelos party, giving the pro-bailout block enough seats in the Parliament, to move forward. At the G20, Euro zone turmoil appears clearly in perspective as a country outside the region step pressure on the EU to put its house in order. It remains to be seen if something emerges after the sitting, but traders will be at least hope some indications before the Summit of the leaders of the more specific EU policy scheduled for the end of next week.
The US Dollar declined against all high counterparts of the page of the overnight, despite a drop of Asian stock markets in that predictable stimulates the demand for the refuge go - to currency. The likely disparity reflects the corrective measures in the price of the greenback and catch-up of sale through Asian exchanges, where shares responded to signals take risks that had already made their way in exchange rates in European of yesterday and we market hours. The dollar added 0.2 per cent average yesterday as the outbreak in the shadow Spanish bond yields a positive mood at the outset in the wake of the election of the Greece weekend, reminding investors that the euro area has still more reasons for concern of sovereign risk.
Asia session: What happened
Minutes of the June of Reserve Bank of Australia meeting
Session of the euro: what to expect
French Production own-Company Outlook (JUN)
French Production Outlook indicator (JUN)
(JUN) business confidence indicator French
Consumer Price Index (YoY) (may)
Consumer Price Index (MoM) (may)
Consumer Price Index (YoY) basis (may)
(MoM) retail price index (may)
Retail price index (YoY) (may)
IPD Ex death int. payments (YoY) (may)
Price of the House of the DCLG UK (YoY) (APR)
German ZEW Survey (current Situation) (JUN)
German ZEW Survey (Econ. sense) (JUN)
Eurozone ZEW Survey (Econ. sense) (JUN)
Exit from the eurozone Construction w.d.a. (YoY) (APR)
Exit eurozone Construction s.a. (MoM) (APR)
Critical levels
Unlikely to find British pound support sustainable stable CPI result Euro looks like German ZEW, comment of the g-20 leadership indices Dollar sold on corrective figures flows overnight despite Asian Stocks Drop UK CPI are the first to enter the spotlight as Europe is in line with expectations, suggesting the overall inflation rate will remain at 3% in May. While this done little to advance the case for a dove more and more of the Bank of England, it is even unlikely to divert already significant winds on the political front after last week, the unveiling of a new credit-loan program. Although fully operational details are a little murky, speculation that it will be funded with the new creation of liquidity similar to the trigger seems likely to keep the British pound relatively capped for the moment. In this spirit, trends in risk appetite may be more important as a driver of the action of the price in the short term until the releaseofminutes of the future of the June meeting BoE offers more clarity.
In this spirit, the attention turns to the gauge German ZEW investor confidence. Economists forecasts suggest that the overall index will facilitate to 39.0 in June, snapping a two month winning streak and printing at the lowest since March. The forward-looking economic sense should reduce to the lowest since January. The result can be used to remind investors that apart from generating the spectrum of the instability of the financial markets, the fiasco of euro-zone debt represents a significant brake on global growth by the sinking of the economy of the block of money - about a fifth of GDP - global world into recession this year. Such an outcome is likely to revitalize demand for refuge currencies, including the US Dollar and Japanese Yen weighing on the Euro in construction rates ECB reduce expectations.
Negotiations Coalition to power in Greece and secondary commentary from the second day of the meeting of the g-20 summit to the Mexico represent potential wild cards for the feelings of risk and thus the spectrum of major currencies. In Athens, ND leader Antonis Samaras seems to have gained the support of the leader of the Pasok Evangelos Venizelos party, giving the pro-bailout block enough seats in the Parliament, to move forward. At the G20, Euro zone turmoil appears clearly in perspective as a country outside the region step pressure on the EU to put its house in order. It remains to be seen if something emerges after the sitting, but traders will be at least hope some indications before the Summit of the leaders of the more specific EU policy scheduled for the end of next week.
The US Dollar declined against all high counterparts of the page of the overnight, despite a drop of Asian stock markets in that predictable stimulates the demand for the refuge go - to currency. The likely disparity reflects the corrective measures in the price of the greenback and catch-up of sale through Asian exchanges, where shares responded to signals take risks that had already made their way in exchange rates in European of yesterday and we market hours. The dollar added 0.2 per cent average yesterday as the outbreak in the shadow Spanish bond yields a positive mood at the outset in the wake of the election of the Greece weekend, reminding investors that the euro area has still more reasons for concern of sovereign risk.
Asia session: What happened
Minutes of the June of Reserve Bank of Australia meeting
Session of the euro: what to expect
French Production own-Company Outlook (JUN)
French Production Outlook indicator (JUN)
(JUN) business confidence indicator French
Consumer Price Index (YoY) (may)
Consumer Price Index (MoM) (may)
Consumer Price Index (YoY) basis (may)
(MoM) retail price index (may)
Retail price index (YoY) (may)
IPD Ex death int. payments (YoY) (may)
Price of the House of the DCLG UK (YoY) (APR)
German ZEW Survey (current Situation) (JUN)
German ZEW Survey (Econ. sense) (JUN)
Eurozone ZEW Survey (Econ. sense) (JUN)
Exit from the eurozone Construction w.d.a. (YoY) (APR)
Exit eurozone Construction s.a. (MoM) (APR)
Critical levels
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