Euro: Spain 10-year yields tops 7%, the ECB, ZIRP British pounds to approve: maintains range bounce rates, all eyes on BoE minutes euro: Spain 10-year bond yields tops 7%, the ECB, cheap ZIRP
Euro fought to keep his reason on Friday, as 7% tied to the yield on Spanish 10 years debt, crowned, while Finland threatens Monetary Union leave as the Governments under the fixed exchange rate to get system struggle for their house in order. Response, Commission President José Barroso promised, the situation in Spain ' are'eng to watch and went to the group ' permanent contact with the Government of the prospects for the region as the sovereign debt crisis still have to dampen.
In turn, there is growing speculation that the European Central Bank additional steps to support the battered economy will be held, and we might see a NULL interest rate policy the Governing Council (ZIRP) support to avert in seeking a lasting recession. ECB Member Erkki Liikanen proposed a leader tone for monetary policy in an interview in Finland and said that the risk of dew point undershooting the Central Bank scope were the target of 2% for inflation to reduce benchmark interest rate of 1.00% for that, as it manages its and only to price stability mandate, to ensure. As the slowdown the prospects for price increases dampens recovery in Europe, the ECB provides balanced, perform to its easing cycle in the second half of the year, and we should the euro additional headwind in the near future as interest rate expectations falter to face see. We search annual lows in the EUR/USD as trending channel still fresh after below next form, and the environment of the single currency bearish sentiment can choose above in the week ahead as European policy makers struggle to win back investor confidence.
British pound: range bounce maintains prices, all eyes on BoE minutes
The British pound reduced the decline from earlier this week still acquired the area bounce price action by June and that can continue to pursue Sterling laterally in the days ahead, as market players weighing fundamental prospects for UK it increased speculation around the Bank of England minutes, as the Central Bank buy his system target GBP raised 375B, and it seems as if the monetary policy Committee approaches the end of its easing cycle, as the benchmark interest rate to 0.50% considers it. In turn we may see the GBPUSD continue to trade between 1.5500-1, 5750 before the policy statement due out on July 18, and the fresh batch of the Central Bank rhetoric should be a clearer picture to paint Sterling remains lackluster as the medium-term Outlook for the UK with high degree of uncertainty for the.
-Written by David song, currency analyst
David to contact by e-mail dsong@dailyfx.com. Follow me on Twitter at @ DavidJSong
To David's E-mail distribution list to be added, send an E-mail with subject "Distribution list" to dsong@dailyfx.com.
Record again EUR/USD decline starting in 2011? Visit us in the Forum
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Change of employment (JUN)
Full time employment change (JUN)
Employment change part time (JUN)
Changes in the non-farm payrolls (JUN)
Change the private payrolls (JUN)
Change in manufacturing payrolls (JUN)
Average hourly earning (MoM) (JUN)
Average hourly earning (YoY) (JUN)
Change of household employment (JUN)
Underemployment rate (U6) (JUN)
Ivey Purchasing Managers index s.a. (JUN)
ECB Noyer, Coeure speaks on euro economy
AiG performance of construction index (JUN)
Contracts for 25 straight months.
Increases for the fourth time this year.
Foreign reserves (Australian dollar) (JUN)
French central Government balance (euros) (may)
Largest deficit since December.
French trade balance (euros) (may)
Narrowed for the first time since March.
Foreign currency reserves (JUN)
Highest level since the series began in 1999.
Consumer price index (MoM) (JUN)
Slowest pace of growth since July 2009.
Consumer price index (YoY) (JUN)
Consumer price index – EU harmonized (MoM) (JUN)
Consumer price index – EU harmonized (YoY) (JUN)
Producer price index input n.s.a. (MoM) (JUN)
Largest decline since September 2009.
Producer price index input n.s.a. (YoY) (JUN)
Producer price index output n.s.a. (MoM) (JUN)
Slowest growth rate from October 2009.
Producer price index output n.s.a. (YoY) (JUN)
Producer price index output core n.s.a. (MoM) (JUN)
Producer price index output core n.s.a. (YoY) (JUN)
German industrial production s.a. (MoM) (may)
Increases for the third time this year.
German industrial production n.s.a. and w.d.a. (YoY) (may)
Euro fought to keep his reason on Friday, as 7% tied to the yield on Spanish 10 years debt, crowned, while Finland threatens Monetary Union leave as the Governments under the fixed exchange rate to get system struggle for their house in order. Response, Commission President José Barroso promised, the situation in Spain ' are'eng to watch and went to the group ' permanent contact with the Government of the prospects for the region as the sovereign debt crisis still have to dampen.
In turn, there is growing speculation that the European Central Bank additional steps to support the battered economy will be held, and we might see a NULL interest rate policy the Governing Council (ZIRP) support to avert in seeking a lasting recession. ECB Member Erkki Liikanen proposed a leader tone for monetary policy in an interview in Finland and said that the risk of dew point undershooting the Central Bank scope were the target of 2% for inflation to reduce benchmark interest rate of 1.00% for that, as it manages its and only to price stability mandate, to ensure. As the slowdown the prospects for price increases dampens recovery in Europe, the ECB provides balanced, perform to its easing cycle in the second half of the year, and we should the euro additional headwind in the near future as interest rate expectations falter to face see. We search annual lows in the EUR/USD as trending channel still fresh after below next form, and the environment of the single currency bearish sentiment can choose above in the week ahead as European policy makers struggle to win back investor confidence.
British pound: range bounce maintains prices, all eyes on BoE minutes
The British pound reduced the decline from earlier this week still acquired the area bounce price action by June and that can continue to pursue Sterling laterally in the days ahead, as market players weighing fundamental prospects for UK it increased speculation around the Bank of England minutes, as the Central Bank buy his system target GBP raised 375B, and it seems as if the monetary policy Committee approaches the end of its easing cycle, as the benchmark interest rate to 0.50% considers it. In turn we may see the GBPUSD continue to trade between 1.5500-1, 5750 before the policy statement due out on July 18, and the fresh batch of the Central Bank rhetoric should be a clearer picture to paint Sterling remains lackluster as the medium-term Outlook for the UK with high degree of uncertainty for the.
-Written by David song, currency analyst
David to contact by e-mail dsong@dailyfx.com. Follow me on Twitter at @ DavidJSong
To David's E-mail distribution list to be added, send an E-mail with subject "Distribution list" to dsong@dailyfx.com.
Record again EUR/USD decline starting in 2011? Visit us in the Forum
Related articles: Pro Forex trading forecast
Upcoming FX
Change of employment (JUN)
Full time employment change (JUN)
Employment change part time (JUN)
Changes in the non-farm payrolls (JUN)
Change the private payrolls (JUN)
Change in manufacturing payrolls (JUN)
Average hourly earning (MoM) (JUN)
Average hourly earning (YoY) (JUN)
Change of household employment (JUN)
Underemployment rate (U6) (JUN)
Ivey Purchasing Managers index s.a. (JUN)
ECB Noyer, Coeure speaks on euro economy
AiG performance of construction index (JUN)
Contracts for 25 straight months.
Increases for the fourth time this year.
Foreign reserves (Australian dollar) (JUN)
French central Government balance (euros) (may)
Largest deficit since December.
French trade balance (euros) (may)
Narrowed for the first time since March.
Foreign currency reserves (JUN)
Highest level since the series began in 1999.
Consumer price index (MoM) (JUN)
Slowest pace of growth since July 2009.
Consumer price index (YoY) (JUN)
Consumer price index – EU harmonized (MoM) (JUN)
Consumer price index – EU harmonized (YoY) (JUN)
Producer price index input n.s.a. (MoM) (JUN)
Largest decline since September 2009.
Producer price index input n.s.a. (YoY) (JUN)
Producer price index output n.s.a. (MoM) (JUN)
Slowest growth rate from October 2009.
Producer price index output n.s.a. (YoY) (JUN)
Producer price index output core n.s.a. (MoM) (JUN)
Producer price index output core n.s.a. (YoY) (JUN)
German industrial production s.a. (MoM) (may)
Increases for the third time this year.
German industrial production n.s.a. and w.d.a. (YoY) (may)
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