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June 28th, 2012 - The EU Leaders Summit is underway and at approximately 16:30 local time the President of the European Parliament will deliver a press conference that will be followed by a press conference from European Council President Van Rompuy at 22:00. There will also be national briefings to the press, which means its time to brace for headline risk. The European growth package...

June 27th, 2012 - Daily FX Market Roundup / Asia Preview 06-27-12 Will the EU Summit Crush the Euro? USD: Benefitting from Stronger Data GBP: Hit by Sharp Pullback in Borrowing NZD: Trade Surplus Narrows on Strong Rise in Imports CAD: Higher House Prices AUD: Hope for the Commodity Sector JPY: Danger of Consumption Tax Will the EU Summit Crush the Euro? In less than 24 ...

June 27th, 2012 - It is an exceedingly quiet morning in the foreign exchange market with directionless trading in most of the major currencies. The lack of meaningful economic data has traders counting down the hours to the EU Summit. Durable goods orders in the U.S. rose 1.1 percent last month on higher defense and nondefense aircraft orders. While this increase was larger than expe...

June 26th, 2012 - [vimeo]http://vimeo.com/44755775[/vimeo]...

June 26th, 2012 - Daily FX Market Roundup / Asia Preview 06-26-12 More Bad News for the Euro USD: Mixed US Data Does Not Alter Fed Outlook GBP: Shrugs Off Dovish Comments and Weaker Data AUD: Comm Dollars Lifted by Better Chinese Data CAD: Will House Prices Rise for Fifth Straight Month NZD: Trade Balance Numbers on Tap JPY: Consumption Tax Passes More Bad News for the Euro...

June 26th, 2012 - Currencies are treading water this morning ahead of the EU Leaders Summit and while the latest U.S. economic reports were mixed, the outlook for Fed policy has not changed. According to S&P Case-Shiller, house prices continued to fall but at its slowest pace since 2010. This is good news for the housing market but a turnaround in the real estate sector is still in t...

June 25th, 2012 - One of the most common questions that foreign exchange traders ask is what matters more to the dollar – deleveraging or quantitative easing? Like many central banks around the world, the Federal Reserve is actively engaged in stimulating their economy. As recently as last week, Federal Reserve Chairman Ben Bernanke made it clear that the door is wide open for ...

June 25th, 2012 - Daily FX Market Roundup / Asia Preview 06-25-12 FX: Dangerous Mix of Policy and Data Alignment USD: Stronger New Home Sales Fail to Lend Support to Risk GBP: Lack of Data Equals Quiet Trading AUD: Potential Problems in China’s Demand for Coal CAD: Oil Prices Decline, Gold Prices Increase NZD: Hit by Risk Aversion JPY: Debate Over Consumption Tax FX...

June 25th, 2012 - The U.S. dollar is starting the week higher against all of the major currencies, which tell us that investors are nervous about the EU Summit and the ability of EU leaders to send a convincing message to the market that a fiscal union is in the works. This skepticism is not misplaced considering that German Chancellor Merkel continues to oppose sharing sovereign cred...

June 25th, 2012 - The financial markets desperately needs a strong commitment from EU leaders to turn the tide in Europe. The hope now rests on this week’s European Leaders Summit, scheduled for June 28 and 29 or Thursday and Friday of this week. There have been a number of side meetings between euro area finance ministers and EU leaders that has everyone hoping a major announc...

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