Discussion points
Euro: Spain asked the ECB to buy debt Greece to seek the third rescue Sterling: fails to test the 1.5600, all eyes on BoE Governor King U.S. Dollar: retail, product sales price disappoint - fueling speculation for Euro there: Spain asked the ECB to buy debt Greece to seek the third rescue plan
The Euro extended ahead of the previous day as the Spanish Prime Minister Mariano Rajoy has increased pressure on the Central Bank European to counter the increasing risk of contagion, and we could attend the Governing Council continuing its cycle of relaxation in the second half of the year, fundamental for the region Outlook is darker. Indeed, a newspaper Germany said that la Greece may need a third rescue as it struggles to get its house in order, although there is speculation growing Cyprus will be online at la request for help in the middle of la ongoing turmoil in the banking sector.
As Governments operating under the fixed exchange rate system become more and more dependent on monetary aid, the ECB may have little choice but to extend monetary policy further in July, but we can see the Board of directors a variety of tools to deal with the risks surrounding the region as the Union European maintains an approach to reactionary in the fight against the debt crisis. Negative headlines coming out of the region continues to cast a bearish Outlook for the EURUSD but it seems that the pair will continue to confront the range bound future prices for Greek elections under the threat of a breakdown of the euro area remains on the table. As the EURUSD is capped by the tracing of Fibonacci 23.6% of the top 2009 2010 low around 1. 2640-50, we can have the opportunity to play the side action prices towards the end of the week, and we could see the pair to strengthen in the next 24 hours, as it struggles to put in a fence above the 20-day SMA (1.2545). Its Tower, negative headlines from Europe can pave the way for a move to 1.2300 figure, and we will maintain a downward of the entering perspective as it seems to carving out a high low on June.
Pound sterling: fails to test the 1.5600, all eyes on BoE Governor King
Sterling marked a failed run in the former (1.5600) support in risk taking behaviour change, and the GBPUSD may continue to consolidate for the rest of the week, as it supports the action of price range-rebound this month. The pound sterling-dollar seems to be earning a high low in June, we should see the exchange rate fall back to 50.0% Fib of low to high around 1.5270, but the sterling 2009 may face additional turbulence in the coming week as officials of the Bank of England more cautious to the economy. Indeed, the minutes of the BoE on tap for June 20 highlights the increased risk of event for the short term, but comments from the Governor Mervyn King, who plans to speak tomorrow at 18 h 00 GMT - can instill a bearish for the sterling perspective, tilt the head of the Central Bank to ease.
US dollar: retail, product sales price disappoint - fueling speculation for there
The greenback remained under pressure on Wednesday, with the Dow Jones - FXCM U.S. Dollar Index (Ticker: USDOLLAR) drag to a minimum of 10 161 and the reserve currency may continue to give back the rebound earlier this week that European policy makers increase their efforts to maintain a sense of market. At the same time, reducing the price pressure combined with the decline in private consumption has renewed speculation for a new round of quantitative easing as the Federal Reserve leaves the door open to further develop the monetary policy, but we expect the FOMC to maintain its approach of wait and see through 2012 as the largest economy in the world gets on a more sustainable path. In turn, we remain optimistic over the medium term, and we should see the dollar resume advance earlier this year, as the Central Bank continues to soften the dovish tone for monetary policy.
Euro: Spain asked the ECB to buy debt Greece to seek the third rescue Sterling: fails to test the 1.5600, all eyes on BoE Governor King U.S. Dollar: retail, product sales price disappoint - fueling speculation for Euro there: Spain asked the ECB to buy debt Greece to seek the third rescue plan
The Euro extended ahead of the previous day as the Spanish Prime Minister Mariano Rajoy has increased pressure on the Central Bank European to counter the increasing risk of contagion, and we could attend the Governing Council continuing its cycle of relaxation in the second half of the year, fundamental for the region Outlook is darker. Indeed, a newspaper Germany said that la Greece may need a third rescue as it struggles to get its house in order, although there is speculation growing Cyprus will be online at la request for help in the middle of la ongoing turmoil in the banking sector.
As Governments operating under the fixed exchange rate system become more and more dependent on monetary aid, the ECB may have little choice but to extend monetary policy further in July, but we can see the Board of directors a variety of tools to deal with the risks surrounding the region as the Union European maintains an approach to reactionary in the fight against the debt crisis. Negative headlines coming out of the region continues to cast a bearish Outlook for the EURUSD but it seems that the pair will continue to confront the range bound future prices for Greek elections under the threat of a breakdown of the euro area remains on the table. As the EURUSD is capped by the tracing of Fibonacci 23.6% of the top 2009 2010 low around 1. 2640-50, we can have the opportunity to play the side action prices towards the end of the week, and we could see the pair to strengthen in the next 24 hours, as it struggles to put in a fence above the 20-day SMA (1.2545). Its Tower, negative headlines from Europe can pave the way for a move to 1.2300 figure, and we will maintain a downward of the entering perspective as it seems to carving out a high low on June.
Pound sterling: fails to test the 1.5600, all eyes on BoE Governor King
Sterling marked a failed run in the former (1.5600) support in risk taking behaviour change, and the GBPUSD may continue to consolidate for the rest of the week, as it supports the action of price range-rebound this month. The pound sterling-dollar seems to be earning a high low in June, we should see the exchange rate fall back to 50.0% Fib of low to high around 1.5270, but the sterling 2009 may face additional turbulence in the coming week as officials of the Bank of England more cautious to the economy. Indeed, the minutes of the BoE on tap for June 20 highlights the increased risk of event for the short term, but comments from the Governor Mervyn King, who plans to speak tomorrow at 18 h 00 GMT - can instill a bearish for the sterling perspective, tilt the head of the Central Bank to ease.
US dollar: retail, product sales price disappoint - fueling speculation for there
The greenback remained under pressure on Wednesday, with the Dow Jones - FXCM U.S. Dollar Index (Ticker: USDOLLAR) drag to a minimum of 10 161 and the reserve currency may continue to give back the rebound earlier this week that European policy makers increase their efforts to maintain a sense of market. At the same time, reducing the price pressure combined with the decline in private consumption has renewed speculation for a new round of quantitative easing as the Federal Reserve leaves the door open to further develop the monetary policy, but we expect the FOMC to maintain its approach of wait and see through 2012 as the largest economy in the world gets on a more sustainable path. In turn, we remain optimistic over the medium term, and we should see the dollar resume advance earlier this year, as the Central Bank continues to soften the dovish tone for monetary policy.
8hr Chart - Created Using FXCM Marketscope 2.0 
Daily Chart - Created Using FXCM Marketscope 2.0 
Daily Chart - Created Using FXCM Marketscope 2.0 
Daily Chart - Created Using FXCM Marketscope 2.0 
