Fundamental headlines
-Finnish leader said we concerned European banks - Bloomberg
-Map of Obama re-election shaken after the victory of the Walker Wisconsin - Bloomberg
-Spain passes a Test market, Merkel plonge Summit hopes - Reuters
-China cut its interest rates - WSJ
-Officials say Fed may need to act - WSJ
Summary of Asian and European Session
After the massive rally of yesterday - in fact the largest gathering since December by the Australian Dollar and the Dow Jones Industrial Average since December 20, 2011 - it would seem that all the world's problems have been resolved. The Australian economy, for example, has completed the "Triple Crown" for his important releases this week: a dove under Reserve Bank of Australia than expected, which helps maintain yields high; a blowout first quarter, the growth of reading, which means may be exaggerated fears of Asian growth. and market the work of reading for may burst, and while he showed that the rate of unemployment to check higher (from 5.1% to 5.0%), which is a further symptom of workers entering the labour market.
Flash forward in the European and senior session giving currencies and correlated with the risk assets started out. The flight safety was purely temporary - as central banks were active in the market. In considering the economic role, action price near the beginning of the European session would lead one to believe that the Bank of England had crossed and eased its monetary policy. Instead, it is the people's Bank of China which was active in the market, and, in a surprise gesture, the Central Bank announced that its one year loan and deposit rates would increase by 25-basis points, effect of Friday. Thus, even if the market participants have been largely disappointed by the inaction of the Bank of England, they received stimulus package that they have been nostalgia, comes from a different source.
A large part of the event was based on the hope that the central banks around the world will be facilitated. Frankly, it is difficult to think of a legitimate reason how the testimony of today by the President of the Federal Reserve Ben Bernanke will respect the hype surrounding it since lamentable payrolls report non-farm Friday. The Fed has made clear that it is taking transparency and credibility seriously now, and a few months of employment after employment growth exceptionally strong growth is not to change monetary policy - yet. In addition, in the light of what is in course with the weakening of Asian and European growth prospects, the US economy has been perform relatively better. Also, for the form: when was the last time that a President of the Fed announced plans for a major boost in testimony to Congress?
Take a look at credit, the debt of the European periphery continues to show signs of improvement, led by none other than the notes of Italian and Spanish on the shorter end of the yield curve. The Italian 2-year note yield fell to 3.569% while the performance in Spanish note 2 years fell to 4.122%; These two are seated at their low weekly in terms of performance (or highs in price).
AUDUSD 5 graphic min: 7 June 2012
Graphing with Marketscope - prepared by Christopher Vecchio
The Australian Dollar was subsequently today top interpreter reading blowout labour market and the rate of the PBoC cut, wins an another 0.65% against the U.S. Dollar (and now is 3.02% since Friday). The pound sterling also exploded more after the BoE chose not to change monetary policy, including the GBPUSD of 0.54% appreciation. The Japanese Yen continues to weaken, excretion of 0.63%.
24-Hour price Action
Main levels: 14: 50 GMT
So far, on Thursday, the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is low, trade 10152.96 at the time when this report was written, after opening at 10171.71. The index traded mostly lower, with the high in the 10190.54 and the 10144.37 low.
-Finnish leader said we concerned European banks - Bloomberg
-Map of Obama re-election shaken after the victory of the Walker Wisconsin - Bloomberg
-Spain passes a Test market, Merkel plonge Summit hopes - Reuters
-China cut its interest rates - WSJ
-Officials say Fed may need to act - WSJ
Summary of Asian and European Session
After the massive rally of yesterday - in fact the largest gathering since December by the Australian Dollar and the Dow Jones Industrial Average since December 20, 2011 - it would seem that all the world's problems have been resolved. The Australian economy, for example, has completed the "Triple Crown" for his important releases this week: a dove under Reserve Bank of Australia than expected, which helps maintain yields high; a blowout first quarter, the growth of reading, which means may be exaggerated fears of Asian growth. and market the work of reading for may burst, and while he showed that the rate of unemployment to check higher (from 5.1% to 5.0%), which is a further symptom of workers entering the labour market.
Flash forward in the European and senior session giving currencies and correlated with the risk assets started out. The flight safety was purely temporary - as central banks were active in the market. In considering the economic role, action price near the beginning of the European session would lead one to believe that the Bank of England had crossed and eased its monetary policy. Instead, it is the people's Bank of China which was active in the market, and, in a surprise gesture, the Central Bank announced that its one year loan and deposit rates would increase by 25-basis points, effect of Friday. Thus, even if the market participants have been largely disappointed by the inaction of the Bank of England, they received stimulus package that they have been nostalgia, comes from a different source.
A large part of the event was based on the hope that the central banks around the world will be facilitated. Frankly, it is difficult to think of a legitimate reason how the testimony of today by the President of the Federal Reserve Ben Bernanke will respect the hype surrounding it since lamentable payrolls report non-farm Friday. The Fed has made clear that it is taking transparency and credibility seriously now, and a few months of employment after employment growth exceptionally strong growth is not to change monetary policy - yet. In addition, in the light of what is in course with the weakening of Asian and European growth prospects, the US economy has been perform relatively better. Also, for the form: when was the last time that a President of the Fed announced plans for a major boost in testimony to Congress?
Take a look at credit, the debt of the European periphery continues to show signs of improvement, led by none other than the notes of Italian and Spanish on the shorter end of the yield curve. The Italian 2-year note yield fell to 3.569% while the performance in Spanish note 2 years fell to 4.122%; These two are seated at their low weekly in terms of performance (or highs in price).
AUDUSD 5 graphic min: 7 June 2012
Graphing with Marketscope - prepared by Christopher Vecchio
The Australian Dollar was subsequently today top interpreter reading blowout labour market and the rate of the PBoC cut, wins an another 0.65% against the U.S. Dollar (and now is 3.02% since Friday). The pound sterling also exploded more after the BoE chose not to change monetary policy, including the GBPUSD of 0.54% appreciation. The Japanese Yen continues to weaken, excretion of 0.63%.
24-Hour price Action
Main levels: 14: 50 GMT
So far, on Thursday, the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is low, trade 10152.96 at the time when this report was written, after opening at 10171.71. The index traded mostly lower, with the high in the 10190.54 and the 10144.37 low.
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