3-mth euro Libor biggest fall in 6-mnths after ECB tender

The interbank cost of borrowingthree-month euros fell by the most since Jan. 26 to mark a fresh record low on Thursday, according to the latest daily fixing from the British Bankers' Association, a day after the European Central Bank's huge liquidity boost.


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Swiss franc shaky, dollar steadies after Fed

The euro and the dollar rose against the Swiss franc on Thursday as traders remained jittery about possible intervention by the Swiss National Bank to weaken its domestic currency.


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UBS, Reliance Capital, SocGen, Novo Growth Equity

The following financial services industry appointments were announced on Thursday. To inform us of other job changes


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AEP sees Texas Pirkey coal unit back soon

American Electric Power Co Inc (AEP.N) planned to restart the 675-megawatt Pirkey coal-fired power station in Texas on June 25-28 after repairing a transformer, the company told Texas regulators in a report.


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Land rights tricky issue as Albania poll nears

The fact thousands like him have no clarity about who owns what land is a legacy of the longest-lasting Stalinist regime in Europe. It's also a major campaign topic as Albania, an emerging democracy that aspires to join the European Union, heads to the polls at the end of this month.


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C$ falls as global equities weaken

The Canadian dollar dropped versus the U.S. dollar on Thursday morning, pressured in part by weakness in global equities and lingering caution from the U.S. Federal Reserve announcement in the previous session.

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China's NDRC against Tengzhong bid for Hummer-radio

The planner, the National Development and Reform Commission (NDRC), is worried that Sichuan Tengzhong Heavy Industrial Machinery, which makes special-use vehicles and highway components, does not have the experience and resources to run the Hummer business, the report said.

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CANADA FINANCE-For Manulife, the acquisitive spirit is willing

In Vietnam's Ho Chi Minh City there is a tower emblazoned with the green logo of Manulife Financial, Canada's top life insurer.
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UPDATE 2-AIG to spin off two units, cut government debt

NEW YORK, June 25 (Reuters) - American International Group Inc (AIG.N), which received $180 billion of taxpayer bailouts, said it will give the government stakes in two big life insurance units that it plans to spin off.
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Erste wants to delay BCR listing to 2010-11 -AVAS

Austrian Erste Bank (ERST.VI) ERST.BX wants to postpone listing its Romanian unit BCR, the Black Sea country's biggest bank, to 2010-2011, Romania's privatisation agency AVAS said on Thursday.

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French Economic Contraction Eases Further In June

France's economic contraction moderated for a fourth consecutive month in June as a smaller decline in manufacturing activity outweighed a sharper-than-expected contraction in services, data showed Tuesday.
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DATA SNAP: French Jun Business Sentiment 75 Vs 73 In May

French business sentiment improved in June, as business leaders were slightly more optimistic about both past and future production, data showed Tuesday.
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USD/JPY: Dollar drops to 95.10 support

The Dollar has weakened further during Monday's Asian session and, decline from 97.20 Friday's high has extended to levels below 95.00, as the Dollar reached 94.99 low to bounce to 95.30 at the moment of trading.
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UPDATE: French May Consumer Spending Falls More Than Expected

French consumer spending on manufactured goods fell more than forecast in May, data showed Tuesday, indicating that the main growth engine of the euro zone's second-largest economy may be running out of steam.
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The ECB aims to keep medium-term inflationary expectations just below 2%

European Central Bank President Jean-Claude Trichet said Monday that the ECB will maintain healthy medium-term inflationary expectations despite the current strong fall in consumer prices in the deepening economic recession.
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EU Almunia:Govts Should Start Plans To Unwind Fiscal Stimulus

Governments should start planning to unwind their economic stimulus packages, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday, according to a press release from the Organization for Economic Cooperation and Development.
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Foreign investors biught $9.05B in canadian securities; USD/CAD, at 1-month high

Foreign investors have bought a net C$ 9.05 billion worth of Canadian securities in April, up from C$ 7.192 billion in March, the largest investment in Canadian securities of the latest three months.
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UPDATE: Sweden Sees Economic Stabilization Signs

Swedish companies see stabilization signs but register considerable anxiety about potential economic setbacks, a Swedish central bank survey showed Monday.
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ECB Trichet:Will Maintain CPI Expectations Despite Price Fall

European Central Bank President Jean-Claude Trichet said Monday that the ECB will maintain healthy medium-term inflationary expectations despite the current strong fall in consumer prices in the deepening economic recession.
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Brazil Real Closes Weaker As Commodity Currencies Slip

After a strong start, the Brazilian real settled weaker against the U.S. dollar Friday when it became apparent that oil prices wouldn't hold above $70 a barrel.
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Canada Afternoon: C$ Ends Flat In Continued Consolidation

The Canadian dollar ended little-changed after another day of meandering range trade Friday, as weak Canadian retail sales data and slippage in world oil prices thwarted earlier probes higher by the currency.
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UPDATE: Argentina 1Q Current Account Surplus $1.5B - Indec

Argentina posted a first-quarter current account surplus of $1.47 billion, down from $1.68 billion a year ago, the national statistics agency Indec said Friday.
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Mexico's Stocks Close Lower After Late Sell-Off, IPC -0.3%

Mexican stocks closed with modest losses Friday on a bout of late selling after U.S. markets relinquished morning gains, while the peso ended slightly stronger versus the dollar.
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Colombia's Peso Weakens After Central Bank Cuts Rates

The Colombian peso weakened Friday after the central bank cut its key rate by 50 basis points, noting that it doesn't expect further rate cuts in the near future.
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Market finished week in red; Dollar mixed

U.S. markets ended with mix results on Friday. The Dow Jones fell 0.19% but the Nasdaq rose 1.09%. Wall Street fell for the week, sending stocks indexes down between 2% and 3%. Oil had a sharp decline and finished the week below $70 a barrel, falling 2.55% on Friday. Dollar fell across the board extending losses during the American session.
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UPDATE: Trichet: Iranian Instability Poses International Econ Risk

Political instability and social unrest in Iran poses a risk to global economic growth, but the European Central Bank expects the global economy's slide to moderate over the remainder of the year and resume climbing in 2010, governor Jean-Claude Trichet said Sunday.
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2nd UPDATE:Trichet Sees Iran Risk; Slowing Econ Decline In 09

Political instability and social unrest in Iran poses a risk to global economic growth, but the European Central Bank expects the global economy to moderate its slide over the remainder of the year and resume climbing in 2010, governor Jean-Claude Trichet said Sunday.
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UPDATE:French Budget Min: '09, '10 Budget Gaps Of 7%-7.5% GDP

France's government budget deficit will swell to between 7% and 7.5% of gross domestic product this year and probably next year as well, budget minister Eric Woerth said Sunday.
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USD slightly down in Asia opening

Early Asia, majors quote close to past Friday levels, with greenback slightly down across the board. Gbp remains well bid just above 1.6500 and better positioned than Euro that quotes around 1.3950 against dollar
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UK Rightmove June House Price Index -0.4%MM, -5.5%YY

U.K. house prices fell in June for the first time since January, even though the supply of new properties slowed sharply, due to the recession and restricted mortgage availability, online estate agency Rightmove said Monday.
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ASIA OUTLOOK: Economies At A Glance -2-

The tiny, open economy - a bellwether of regional economic trends - will likely start pulling out of its downturn in the third quarter after suffering its worst recession since independence in 1965. The credit crisis walloped Singapore's financial services industry and core manufacturing sector.
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ASIA OUTLOOK: Economies At A Glance

After suffering its worst postwar collapse in industrial production as exports imploded, the economy stabilized in the first quarter and is set to grow for the next few quarters as activity bounces from unusually depressed levels.
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USD/JPY: Dollar continues trading between 95.75 and 96.30

Asia is pulling out of a deep slump as a pickup in China's growth and hefty government spending measures and interest-rate cuts around the region kick in. But recovery faces stiff headwinds and big risks.
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Euro will drop to 1.2800 by year end - Rabobank

The Euro has dipped further away fro, 1.4000 on Monday, reaching levels below 1.3850 at the time of writing, and according to the Rabobank Financial Markets Research team, this weakening trend will continue till the end of the year.
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Greek Jobless Rate Jumps To 9.3% In 1Q From 7.9% 4Q

Greece's unemployment rate jumped to 9.3% in the first quarter, up from 7.9% at the end of last year, the National Statistics Service said Monday, reflecting the impact of the worldwide economic crisis.
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Asian Shares End Mostly Higher; HK Property Stocks Shine

Asian markets ended mostly higher Monday, with bargain-hunting in the property sector helping lift Hong Kong's benchmark index, while the Nikkei edged up 0.4%.
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AUD/USD: Retracement from 0.8120 reaches levels below 0.8000

Australian Dollar has dipped further during Asian and European session so far, and, rejection from 0.8120 high on Friday has reached levels below 0.8000 support on European session.
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3rd UPDATE: German Ifo Business Climate Leaps In June

German business confidence leapt in June, signaling that the recession will come to an end in the next six months, a survey from Germany's Ifo Institute showed Monday. The Ifo business climate index rose for the third straight month, to 85.9 in June from a revised 84.3 in May.
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Greek Jobless Rate Jumps To 9.3% In 1Q From 7.9% In 4Q

Greece's unemployment rate jumped to 9.3% in the first quarter, up from 7.9% at the end of last year, the National Statistics Service said Monday, reflecting the impact of the worldwide economic crisis.
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EUR/USD: Euro tests levels below 1.3850

The Euro continues depreciating during Monday's European session as uncertainty over Fed's monetary policy meeting on Wednesday has unleashed risk aversion pulling the Euro to levels below 1.3850 at the time of writing.
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EUR/USD: Euro hits an intra-day low at 1.3850

Euro retracement from 1.4000 high on Friday has extended on Monday's early European session to levels below 1.3870 support, and the Euro has hit 1.3850 intra-day low.
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Swedish Riksbank: Swedish Cos See Econ Stabilization Signs

Swedish companies are cautiously optimistic about the economic outlook, but concerns remain over a possible setback, Sweden's central bank said Monday.
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DATA SNAP: German Business Climate Leaps In June

German business confidence leapt in June, signaling that the recession will come to an end in the next six months, a survey from Germany's Ifo Institute showed Monday.
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DATA SNAP:Italy Apr Indus Orders Worse-than-seen;-32.2% On Yr

Italian industrial orders fell sharply and worse-than-expected in April, as foreign and national demand dropped, statistics agency Istat said Monday. Industrial orders fell an unadjusted 32.2% on the year in April, after falling 26% in March and 32.7% in February.
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European Stocks Dn; Hesitant Start To The Week

European stocks fell Monday, weighed down by a slump in the oil sector and indecisiveness about the much-debated global recovery.

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German Ifo Business Climate Leaps In June - update

German business confidence leapt in June, signaling that the recession will come to an end in the next six months, a survey from Germany's Ifo Institute showed Monday. The Ifo business climate index rose for the third straight month, to 85.9 in June from a revised 84.3 in May. That was above economists' forecast of 85.3.
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Italy Apr Indus Orders Worse-than-seen;-32.2% On Yr

Italian industrial orders fell sharply and worse-than-expected in April, as foreign and national demand dropped, statistics agency Istat said Monday. Industrial orders fell an unadjusted 32.2% on the year in April, after falling 26% in March and 32.7% in February. On the year
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German Ifo Business climate Index improves in June; Euro, at intraday lows

German business confidence Index has improves in June, showing that the end of the current recession is approaching, and that the worst part of it is already gone, according to the latest survey by the German Ifo Institute.
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GBP/USD: Pound tested 1.6405 support level

According to Mohammed Isah, technical analyst at a retest of mid-term hiigh at 1.6662 could be ahead this week: "While a marginal higher close was seen the past week, we continue to see risk of a retest of the pair’s medium term high residing at the 1.6662. A break through there will trigger the resumption of that trend towards the 1.6673 level, its Oct 30’08 high and then the 1.7000 level, its big psycho level."
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German Ifo Business Climate Leaps In June

German business confidence leapt in June, signaling that the recession will come to an end in the next six months, a survey from Germany's Ifo Institute showed Monday.
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European markets, down on week opening, Euro and Pound weaken

European markets have opened the week with losses, following a decline in oil prices and amid uncertainty about the pace of economic recovery. Euro and Pound have dipped further on European session so far.
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China May Copper Concentrate Imports 508,902 Tons, +23% On Yr

China's copper concentrate imports rose 23% on year to 508,902 metric tons in May, the General Administration of Customs said Monday. Refined copper imports rose sharply on year to 337,230 tons.
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Asian Shares On The Rise But Tentative; Japan Commods Down

Asian share markets were higher Monday but with the mood somewhat cautious after a mixed performance by Wall Street on Friday. Oil and resource stocks were rising in Sydney, but on the decline in Tokyo.
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Japan April Tertiary Industry Activity Index Table Of Data

The index tracks economic output in 11 service industries, including utilities; transport; telecommunications; wholesale and retail; finance and insurance; real estate; restaurants and hotels; medical, health care and welfare.
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GBP/USD current price: 1.6478

GBP/USD current price: 1.6478. Pair failed to stay above 1.6500 and fell in these first trading hours, still with a bullish perspective in bigger time frames.
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China May Pulp Imports At 1.32 Mln Tons; Up 64% On Year

China's pulp imports in May rose 64% from the same month last year to 1.32 million metric tons, the General Administration of Customs said Monday.
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Asian Shares Rise Tentatively; Japan Commods Down

Asian share markets were slightly higher Monday though the mood was somewhat cautious after a mixed performance by Wall Street on Friday. Oil and resource stocks were on the decline in Tokyo, though mostly on the rise in Sydney.
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Euro turns slightly bearish

EUR/USD, pair turn slightly bearish with Nikkei opening, with and a first support around 1.3902 ascendant trend line, still inside range. Momentum and RSI are also slightly bearish, while current candle opened under 20 SMA.
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Japan MOF: Big Co Mood Less Gloomy As Demand Picks Up

Large Japanese firms grew less pessimistic about the economy in the April-June quarter as a slight pickup in global demand boosted sentiment among manufacturers, a government survey showed Monday.
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Yen forming a small continuation figure

USD/JPY, still under bearish pressure, pair is forming a small continuation figure in the hourly, with base around 96.05. Break under that point could send the pair lower with 95.20/50 zone as probable bearish target for the next hours.
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Asian markets open the week with gains; Euro and Pound in range

Asian markets have opened the week in a bid tone, after Chinese prime minister affirmed that economy was improving, which has dampened investor's uneasiness about the uncertainty in U.S. economy. Euro and Pound remain on Friday's range.
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EUR/USD: Euro decline extends below 0.3870

Decline from 1.4015 high on Friday's U.S. session, has continued over Asian session, and from an opening price around 1.3950, the Euro has dropped to test 1.3870 support ahead of the European opening.
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GBP/USD: Pound drops to intra-day low below 1.6450

The Pound has tested 1.6505 resistance level and failure to break above there has driven the pair to levels below Asian session floor at 1.6450 support, to hit an inter-day low at 1.6410 so far.
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European Stocks To Open Just Lower; Fed Eyed

European stocks are expected to open just lower Monday, as bulls start the week on the back foot amid doubts about the strength of any potential global economic recovery.
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Dollar consolidating above 95.75 after pullback from 97.20

The Dollar is consolidating with an slightly soft tone, and, on retracement from Friday's high at 97.20, the Dollar has reached an Asian session low at 95.80, to bounce to levels around 96.15 at the time of writing.
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Asian Shrs End Higher; China Up Despite IPO Resumption

Asian markets ended broadly higher Friday, as financials advanced in China after the country opened the door for new share listings, while chip makers gained on upbeat industry data.
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GBP/USD: Pound reaches levels above 1.6450

After several attempts the Pound has broken through resistance level at 1.6450, and extends rally from intra-day low at 1.6300 reaching levels right below 1.6480.
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Croatia Drops Ban On Sunday Retail Opening - Report

A Croatian court has annulled a ban on Sunday shopping imposed six months ago after retailers hit by the global economic crisis launched a legal challenge against the move, a report said.
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London To Gain From European Fincl Regulation Deal

London's financial center will benefit from the European Union's deal to establish a financial regulation watchdog, although the 27-member bloc must work harder to strengthen single market rules, Prime Minister Gordon Brown said Friday.
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USD/CAD bounces at 1.1250 and tests 1.1300 after Canadian retail sales

USD/CAD has bounced at 1.1250 level to rise above 1.1280 and test 1.1300 resistance fueled by a worst then expected Canadian retail sales in April. pair has rising 50 pips after the data released to the currently 1.1290/1.1300, yet 0.25% below today's opening price.
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Brazil Real Opens Marginally Stronger, Low Volume Expected

Brazil's real opened stronger Friday morning, but is expected to remain in a tight range with low volume throughout the day. The real opened at BRL1.96 per dollar after closing Thursday at BRL1.9710on the Brazilian Mercantile and Futures Exchange, or the BM&F.
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UK Brown: London To Gain From European Financial Regulation Deal

London's financial center will benefit from the European Union's deal to establish a financial regulation watchdog, although the 27-member bloc must work harder to strengthen single market rules, Prime Minister Gordon Brown said Friday.
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Latvian 1Q Curr Acct Swings To 1.1% Of GDP Surplus

The Latvian current account showed a surplus of 1.1% of gross domestic product in the first quarter, compared with a deficit of 16.8% of GDP a year earlier, the Bank of Latvia said Friday. There was a first-quarter surplus of 37.7 million Latvian lats ($75.6 million), compared with a deficit of LVL627.6 million last year. Goods exports fell 26.8% on the year in the first quarter, while imports declined 35.5%.
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USD/JPY: Dollar drops to 96.70 gives away gains

The Dollar has pulled down to 96.70 support level, after having been rejected at the 97.10/25 area, giving away gains taken during European session.
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UPDATE: Polish May Indus Output -5.2% YY; Above Forecast

Poland's industrial output fell at a slower pace in May, a calendar-induced effect that will likely have no influence on the central bank's decision to resume rate cuts next week.
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France Sarkozy: EU Likely To Boost Financial Supervision System

French President Nicolas Sarkozy said the financial supervisory and regulatory framework approved by European Union leaders at a summit Friday will likely expand in the future, making up for the shortcomings of the compromise solution adopted in Brussels.
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Canada Afternoon: C$ Slips Slightly In Meandering Trading

The Canadian dollar ended slightly lower after a relatively aimless, meandering session Thursday, in which the currency reflected the general indecisiveness and lack of direction afflicting most major currencies at the moment.
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Brazil Real Closes Weaker On Global Economic Jitters

The Brazilian real closed slightly weaker against the U.S. dollar Thursday on worries about the timing and the strength of a global economic recovery.
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Pound finds support at 1.6280 and rises to 1.6360

GBP/USD rose during the American session to 1.6400 but it was rejected from there and fell strong. The Pound found support at 1.6280 and started to recover from there, rising to 1.6360. Current price is 1.6340/30 which is 0.31% below today opening price.
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US M1 Rose $34.3B In June 8 Week; M2 Rose $4.4B

The Federal Reserve's latest weekly money supply report Thursday shows seasonally adjusted M1 rose by $34.3 billion to $1.631 trillion, while M2 rose $4.4 billion to $8.354 trillion.
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Mexico's Stocks Track US To Higher Close; IPC Rises 0.8%

Mexico's stocks posted moderate gains Thursday following a three-session losing streak as local heavyweights tracked a rise in U.S. equities, while the peso was little changed versus the dollar.
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EU Agrees New Financial Regulator Won't Dictate Government Spending

European Union leaders have agreed that a new financial-market overseer won't be able to force countries to pay for bank bailouts, according to an E.U. diplomat.
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Colombia's Peso Weakened, Anticipating Ctrl Bk Rate Cuts

The Colombian peso weakened on Thursday, anticipating a possible central bank rate cut on Friday, a move that would discourage foreign investors pouring money into local assets.
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USD/CHF rejected from 1.0900 falls to 1.0855

The Dollar rallied against the Swiss Franc during the American session. USD/CHF went from 1.0815 to 1.0897 (intra-day high). But the pair was rejected from those levels and fall finding support at 1.0855. Since then the pair has been in a range between 1.0860 and 1.0875. So far today the pair has risen 0.64% from the opening price.
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New EU Financial Regulator Won't Dictate Government Spending-Source

European Union leaders have agreed that a new financial-market overseer won't be able to force countries to pay for bank bailouts, according to an E.U. diplomat.
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3rd UPDATE:EU Financial Regulator Won't Dictate Government Spending-Sources

European Union leaders have agreed that a new financial-market overseer won't be able to force countries to pay for bank bailouts, according to two EU diplomats. This leaves unresolved a long-standing question in the bloc: If a large cross-border bank fails, who pays?
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Peru Stocks Rebound Slightly; Sol Strenghtens

Peru's main stock indexes on Thursday recovered slightly from sharp losses a day earlier. The Lima Stock Exchange's general index gained 1.36% to close at 13,092.70. The blue-chip index gained 1.08% to end at 21,414.81. Shares of Southern Copper Corp. (PCU) rose 0.19% to close at $21.48.
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Argentina's Stocks Close Lower; Boden 2012 Sinks Again

Argentine stocks closed slightly lower Thursday while the widely traded Boden 2012 bond posted a second day of large losses. The Merval index fell 0.3% to 1,529.90 in low volume trading that totaled just 35.2 million pesos ($9.34 million).
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Brazil's Central Bank To Offer $646 Mln In Forex Swaps Friday

The Brazilian Central Bank will offer foreign-exchange swap contracts worth $646 million at an auction Friday. The bank will offer 12,930 contracts with maturities in April 2010, October 2010 and January 2011 to allow investors to roll over existing contracts, which come due at the start of July.
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Markets ends up for the first time in the week; Dollar mix

Wall Street ended mostly up on Thursday. The Dow Jones rose for the first time in the week, finishing up 0.70%. The Nasdaq ended practically unchanged falling 0.02%. Gold fell today but is still trapped in a range between $925 and $940 an ounce.
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USD index, multi-week pennant/triangle still forming

No change in the view on the $ index as trade from the June 3rd low at 78.35 is seen as a correction, and with an eventual resumption of the longer term declines after. May be forming a pennant/triangle, generally seen as a “continuation” pattern and adding weight to the view eventual new lows.
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EU Economic Recovery Plan Starting To Show Results

The European Union's economic recovery plan is beginning to bear fruit, although member states must now work on an exit strategy to address fiscal imbalances, Czech Prime Minister Jan Fischer said Thursday.
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EU Should Be Able To Give Ireland 'Robust' Guarantees

The European Union should be able to give Irish voters "robust guarantees" to assuage concerns about a new treaty for the bloc, Czech Prime Minister Jan Fischer said Thursday during a summit of E.U. leaders.
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EU Should Be Able To Give Ireland 'Robust' Guarantees

The European Union should be able to give Irish voters "robust guarantees" to assuage concerns about a new treaty for the bloc, Czech Prime Minister Jan Fischer said Thursday during a summit of E.U. leaders.
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France,Germany,UK Reach Accord On EU Financial Regulation

The leaders of France, Germany and the U.K. reached Thursday a compromise agreement to adopt a new set of rules and create new institutions to regulate and supervise the European Union's financial system.
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Geithner Sees Economy Stabilizing, Borrowing Costs Down

Treasury Secretary Timothy Geithner sees some signs of stability in the economy and healing in the financial system, according to a transcript of a television interview. The cost of borrowing has fallen significantly, but "we still face a very challenging period ahead," Geithner told PBS anchorman Jim Lehrer on Thursday.
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Euro unable to follow stocks

U.S. positive data helped greenback at the end of the day, and despite rising equities Euro fell to the 1.3900 level after failing to break above key 1.4000 zone. Risk appetite has been replaced by uncertainty for what to expect in the second half of the year, and ahead of the Federal Reserve meeting next week, leading to wide intraday swings.
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Costa Rica 08-09 Coffee Sales -14% To Jun 5 To 1.469M Bags

Costa Rica's coffee industry has logged contracts for 1,468,523 (60-kilogram) bags of coffee from the current 2008-09 crop in sales through June 5, the official Costa Rican Institute, or Icafe, said Thursday.
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EUR/USD current price: 1.3897

EUR/USD current price: 1.3897. Nikkei open to the upside, following U.S. stocks, and euro remains under selling pressure.
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Sterling moving in wide ranges

GBP/USD, moving in wide ranges, still inside the descendant channel, indicators seem a bit exhausted to the upside and the pair is losing bullish steam at this hour.
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Sterling moving in wide ranges

GBP/USD, moving in wide ranges, still inside the descendant channel, indicators seem a bit exhausted to the upside and the pair is losing bullish steam at this hour.GBP/USD, moving in wide ranges, still inside the descendant channel, indicators seem a bit exhausted to the upside and the pair is losing bullish steam at this hour.
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Asian Shares Mostly Rise But Off Peaks; China Slips

Asian share markets were mostly higher Friday after a stronger lead from Wall Street, with technology stocks getting a boost from encouraging industry data.
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Yen regained the upside based

USD/JPY, forming a small continuation figure in the hourly, pair has regained the upside based on the 4 hours 20 SMA that is turning higher. Back to the hourly, 96.80 maximums congestion zone is holding the upside
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Asian markets close the week with gains, Euro and Pound slightly higher

Stock markets in Asia have returned to positive figures on Friday after three days of losses, supported by brighter macroeconomic news in the U.S. Euro and Pound remain trading in range.
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Intl Investors Dn 2nd Straight Yr FY08

The presence of foreign investors declined for the second straight year in the Japanese market last fiscal year, as financial crisis jitters prompted investors to reduce assets across the globe.
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German May PPI Flat As Energy Prices Rebound

German producer prices were unchanged in May and fell 3.6% from a year earlier, the Federal Statistics Office, Destatis, reported Friday. That is almost exactly in line with an advance survey of economists
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EUR/USD: Euro picks up to levels around 1.3950

The Euro has appreciated during Asian session and, after having declined to 1.3870 low on late U.S. session, the Euro has risen to reach levels close to 1.3950 at the time of writing.
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European Stocks To Open Higher; Gains Limited

European stocks are expected to open higher Friday, helped by a solid finish on Wall Street Thursday and gains in Asia early Friday. However, these gains are expected to be limited ahead of the weekend.
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GBP/USD: Pound climbs to levels below 1.6400

GBP/USD bounced yesterday at 1.6185 low ahead of the U.S. session opening, to reach levels right below 1.6400 on the back of U.S. macroeconomic figures. During Asian session, the Pound has moved from 1.6300 to 1.6380.
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USD/JPY: Dollar strengthens and approaches 97.00

The Dollar has rallied during Asian session and, after bouncing at 95.50 kow yesterday, the pair has reached levels right below 97.00 ahead of the European session opening times.
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IMF's Lipsky Calls For Strong Policies For Global Recovery

A top International Monetary Fund official called for strong policy action to help the global economy recover. The global economy remains in recession, First Deputy Managing Director John Lipsky said in a speech Friday to the Turkish Industrialists' and Businessmen's Association in Bodrum, Turkey.
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Malaysia End-April Natural Rubber Stocks 113,074 Tons; Dn 22%

Malaysia's natural rubber stocks fell to 113,074 metric tons at the end of April, down 22% on year, the Department of Statistics said Friday. Natural rubber production in April fell 24% to 55,692 tons. Production is higher on month. Malaysia revised upward its natural rubber output estimate for March to 47,380 tons from 42,552 tons.
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Aussie breaks above 0.8000 and rises to test 0.8055

The Australian dollar rallied yesterday from 0.79100 low to test 0.8055/65 resistance atrea, which failed to give way and the pair pulled back to levels right below 0.8000 to bounce again during Asian session to attempt another assault to 0.8055/65 area at there moment of writing.
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Resilient Yen Hurts Tokyo Shrs

Asian markets ended mostly lower Thursday as the continued resilience of the Japanese yen hurt shares of exporters in Tokyo, while profit-taking in the banking sector weighed on Hong Kong's benchmark index.
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USD/CHF tests 1.0765 support again 19.9B

USD/CHF has fallen around 30 pips in the last hour from 1.0795 to test the 1.0765 support level again in the European session. Since the beginning pf the European morning the par has been trading in a range between 1.0765 and 1.0805. currently the pair is trading around 1.0985/95, 0.10% above today's opening price.
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GBP/USD: Pound could re-test 1.6664 - Mizuho

The Pond has suffered a severe pullback from 1.6480, reaching levels right below 1.6200 during the European session, to bounce to levels above 1.6250 at the time of writing.
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EUR/USD: Euro continues hovering below 1.4000

After yesterday's rally from 1.3830 level the Euro has managed to hold above 1.3930 support level during most of European session with psychological level 1.4000 on sight.
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Latvia Budget Protest Draws Thousands - Baltic News Service

Several thousand people gathered in the Latvian capital Riga to protest severe government spending cuts made earlier in the week, the Baltic News Service reports Thursday.
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2ND UPDATE: UK Retail Sales Seen Weakening Further In 2009

U.K. retail sales fell more than expected in May, dragged down by poor sales of clothing, footwear and by department stores, data from the Office for National Statistics showed Thursday. And, with unemployment continuing to rise, some economists are expecting retail sales to remain weak and possibly worsen later in the year. The volume of retail sales fell 0.6% on the month and by 1.6% on the year in May. In April, sales rose 0.9% on the month by 2.6% on the year.
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USD/CAD continues its decline after the Canadian CPI data

USD/CAD's decline from 1.1365 intra-day high has continue after the better than expected canadian CPI data. The pair has falling to test 1.1310 and currently it is trading around 1.1315/25, yet 0.20% positive about today's opening price action.
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USD/CAD continues its decline after the Canadian CPI data

USD/CAD's decline from 1.1365 intra-day high has continue after the better than expected canadian CPI data. The pair has falling to test 1.1310 and currently it is trading around 1.1315/25, yet 0.20% positive about today's opening price action.
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UPDATE: Asian Shares End Mostly Down; Resilient Yen Hurts Tokyo Shrs

Asian markets ended mostly lower Thursday as the continued resilience of the Japanese yen hurt shares of exporters in Tokyo, while profit-taking in the banking sector weighed on Hong Kong's benchmark index. Japan's Nikkei 225 ended down 1.4% at 9703.72 after outperforming on Wednesday, while Hong Kong's Hang Seng Index ended 1.7% lower.
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Asian Shares End Mostly Down; Resilient Yen Hurts Tokyo Shrs

Asian markets ended mostly lower Thursday as the continued resilience of the Japanese yen hurt shares of exporters in Tokyo, while profit-taking in the banking sector weighed on Hong Kong's benchmark index. Japan's Nikkei 225 ended down 1.4% at 9703.72 after outperforming on Wednesday, while Hong Kong's Hang Seng Index ended 1.7% lower.
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USD/CHF tests 1.0765 support again

USD/CHF has fallen around 30 pips in the last hour from 1.0795 to test the 1.0765 support level again in the European session. Since the beginning pf the European morning the par has been trading in a range between 1.0765 and 1.0805. currently the pair is trading around 1.0985/95, 0.10% above today's opening price.
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Euro has dropped on European session

After its rejection at the 1.3985/14000 area, the Euro has dropped on European session to 1.3900 intra-day low although the pair has managed to bounce to levels at 1.3950.
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Asian Shares End Mostly Down;Resilient Yen Hurts Tokyo Shrs

Asian markets ended mostly lower Thursday as the continued resilience of the Japanese yen hurt shares of exporters in Tokyo, while profit-taking in the banking sector weighed on Hong Kong's benchmark index. Japan's Nikkei 225 ended down 1.4% at 9703.72, while Hong Kong's Hang Seng Index closed 1.7% lower.
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Dutch Fin Min: Confident Of EU Deal On Financial Regulation

During the meeting the ministers rewrote a proposal to make the ECB president head of the new regulatory body, which will be known as the European Systemic Risk Council.
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Pound Plunges On Retail Sales, Public Finance Data

The pound has fallen against other major currencies Thursday after U.K. retail sales data fell far short of expectations and public sector borrowing rose to a new record high in May. Sterling sank most sharply against the dollar, losing over 1% to hit a session low of $1.6190, while the euro rose by a slightly smaller degree to reach GBP0.8605 as the two sets of data were released.
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Brazil's Real Closes Slightly Weaker On Risk Aversion

The Brazilian real closed slightly weaker against the U.S. dollar Wednesday on a day of major movements as risk aversion stalked the market. The real ended at BRL1.9675 per dollar on the Brazilian Mercantile and Futures Exchange compared with Tuesday's close of BRL1.9635.
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C$ Rebounds From Early Dip To End Higher

The Canadian dollar reversed from earlier weakness to end moderately higher Wednesday, supported by a rebound for U.S. equities and commodity prices and associated pressures on the U.S. dollar globally.
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EUR/USD rises to 1.3980; USD/CHF stays below 1.0800

The EUR/USD rallied during the American session to 1.3980 (intra-day high). Dollar has recovered part of the losses and EUR/USD has found support at 1.3945. The pair is up 0.86% so far today and has risen more than 70 pips from the opening bell in Wall Street. The Euro is rising for second day in a row against the Dollar.
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UK Treasury Junior Minister Ussher Resigns

Recently reappointed junior Treasury Minister Kitty Ussher stepped down from the government on Thursday, as she became the latest lawmaker to be caught up in the parliamentary expenses row. In a letter to Prime Minister Gordon Brown, Ussher said she had done nothing wrong and was stepping down "with the greatest regret."
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U.S. markets mix; Dollar fell strong during the American session

Wall Street ended Wednesday with mix results. The Dow Jones Industrial Average drop 0.1% and the Nasdaq rose 0.7% on a volatile session. Crude-oil futures ended higher.
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Pound losses to CHF, JPY and EUR

Cable lost part of the monthly gains against the majors except the Dollar. To the Euro, today was the first after five consecutive days that EUR/GBP doesn’t fall to fresh multi-month lows.
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Argentina Bonds Fall In Pullback, Lower Risk Appetite

Argentine bonds pulled back Wednesday amid an early downturn in global markets, lower risk appetite and lower yields after the strong gains posted in recent weeks.
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U.S. markets mix; Dollar fell strong during the American session

Wall Street ended Wednesday with mix results. The Dow Jones Industrial Average drop 0.1% and the Nasdaq rose 0.7% on a volatile session. Crude-oil futures ended higher
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Pound losses to CHF, JPY and EUR

Cable lost part of the monthly gains against the majors except the Dollar. To the Euro, today was the first after five consecutive days that EUR/GBP doesn’t fall to fresh multi-month lows. EUR/GBP rose today and currently the pair is above 0.8500. During the American session the Pound recover part of the losses but it wasn’t enough.
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Gold, bouncing from important support.....

No change in the bigger picture view in gold as the 3 wave fall from the Feb high at $1007.70 (a-b-c, see numbering on daily chart below), suggests that trade over the last 4 months is a large correction, and with eventual new highs after
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Four House Hunters For Every UK Home For Sale

Demand is increasingly outstripping supply in the U.K. residential property market, with more than four house hunters for every home for sale in May
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Almost Half UK Local Government Leaders Plan Job Cuts - KPMG

Almost half U.K. local council leaders and chief executives say they will probably cut jobs over the next 18 months to reduce costs during the recession
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USD consolidating ahead next week event

Dollar close another negative day across the board, with Euro and Yen printing interesting gains, helped by U.S. disappointing data early Wednesday.
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Asian Shares Mostly Lower, Seek Direction; Nikkei Off 1.5%

Asian shares were mostly lower Thursday as investors tried to pin down a near-term direction for equity markets, with exporter shares in Tokyo hurt by ongoing resilience in the Japanese yen.
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Australia Business Confidence Improves In 2Q - ACCI Survey

The Westpac Banking Corp.-Australian Chamber of Commerce & Industry expected composite index - a gauge of business confidence - bounced to 47.6, from 35.3 in the first quarter.
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Australian Merchandise Imports Dn Adj 5% In May Vs Apr

Australian merchandise imports fell 5% to A$16.40 billion in May from A$17.20 billion in April in seasonally adjusted terms, the Australian Bureau of Statistics said Thursday.
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EUR/USD current price: 1.3953

EUR/USD current price: 1.3953. Pair raised following stocks and mover the short term consolidation range higher, basing now on 1.3925. With momentum and RSI pointing to the upside
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EU Set To Give Backing For Barroso; Guarantees To Ireland

E.U. leaders, starting two days of talks Thursday, are set to back E.U. Commission chief Jose Manuel Barroso for a second term and give Ireland the guarantees it wants to push through the Lisbon Treaty.
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Asian Shares Mixed, Lack Momentum; Nikkei Off 1.8%

Asian shares were mixed Thursday as investors tried to pin down a near-term direction for markets, with exporter shares in Tokyo hurt by ongoing resilience in the Japanese yen.
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Sterling regain the upside at early Europe Session

“GBP/USD, still inside the descendant channel we mention yesterday, pair regain the upside early Europe, still unable to break above the rook first dynamic resistance for today, now around 1.6430,” said Valeria Bednarik, collaborator
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Asian markets mostly down; Dollar softens

Stock markets rally seen in the last three months seems to have waned, and investors have entered a cautious and hesitant period, concerned by the pace of the economic recovery, amid mixed indicators from the U.S Europe and Asia. Asian markets have dropped on Thursday,, while the Dollar lost strength.
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USD/JPY: Dollar, below 96.00 near two-weeks low

Decline from Monday's high at 98.60 has extended on Asian session as the USD/JPY dropped to levels below 96.00, to trade between 95.50 and 96.00, approaching the lowest levels of the last two weeks.
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Sterling Slides After BOE Minutes, Ahead Of Darling Speech

Sterling is falling heavily Wednesday after an earlier spike as the Bank of England sounded a note of caution on sterling's recent climb and nerves build over a speech by U.K. Chancellor of the Exchequer Alistair Darling later in the day.
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Euro-Zone Trade Surplus Increased In Apr

Euro-Zone Trade Surplus Increased In April," at 0900 GMT, misstated the amount of imports in March in the fourth paragraph. The correct version follows.)The euro zone's balance in trade in goods with the rest of the world increased in April to the largest surplus since October 2007
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GBP/USD: Pound dips to 1.6260 low

The Pound has lost more than 200 pips during the European session as failure to break above 1.6480 has driven the pair to 1.6260 low so far.Immediate support level lies at 1.6240 (Jun 10 and 15 low) and, in case of further weakening, 1.6210 (Jun 16 low) and 1.6100. On the upside, resistance levels lie at 1.6300, and above there, 1.6350 and 1.6425.
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Greece's 1Q Turnover Index In Tourism Down 4.1% On Yr

The turnover index in Greece's key tourism sector fell by 4.1% in the first quarter on the year earlier, according to data from the National Statistics Service Wednesday, highlighting the impact of the global economic slowdown.
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3rd UPDATE: UK May Claimant Count Rise Slowest In 10 Mos

There was further evidence that the worst of the U.K. recession may be over, with the claimant count measure of unemployment rising at its slowest pace in 10 months and April's increase revised downward, official data showed Wednesday. The Office for National Statistics reported that the jobless claimant count rose 39,300 in May, compared with April's 49,600 increase. The claimant count rose by 136,000 back in February.
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Japan Government Upgrades Econ Assessment For 2nd Straight Month

The Japanese government upgraded its overall economic assessment for the second straight month in June, saying that with exports and industrial production improving the economy is expected to pick up
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EUR/USD: Rejection at 1.3930 brings the Euro to 1.3850 support

The Euro has weakened slightly during European trading hours; after being rejected at 1.3930 resistance level, the Euro has pulled back to 1.3850 support.
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USD/JPY bounces at 96.10 and tests 96.50 resistance

After falling around 65 pips from intra-day high at 96.77 and rebounding at 96.10, USD/JPY has risen 40 pips in the last hour to test 96.50 resistance. Currently the pair is rising 0.45% so far today from 96.01 opening price to the current 96.35/45.
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Basel II allows banks to match their capital levels more closely to individual risk profiles than previous regulations had allowed

European Central Bank Governing Council member Vitor Constancio said Wednesday the implentation of Basel II capital rules had led to excessive risk-taking by banks. "Basel II we can say today was an error," Constancio said in the Portuguese parliament.
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"Good Evidence" Government Measures Working To Help Econ

U.K. Prime Minister Gordon Brown said the measures the government has taken to soften the economic downturn appear to be working.
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GBP/USD finds support at 1.6230, back to 1.6270

The Sterling decline against the Greenback in the European morning from 1.6480 has finally found support at 1.6230 and the pair has been launched to levels close to 1.6270. GBP/USD is declining 0.65% so far today from the opening price to the current 1.6255/65.
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GBP/USD bounced at 1.6373, back close to 1.6500

The Pound's rally suspended at 1.6507, intra-day high, has been resumed at 1.6373 support in the early American session (After the 135 pips rejection movement), to jumps above 1.6450 and go up to levels close to 1.6500 again. Currently the pair is trading around 1.6470/80, 1.20% above today's opening price.
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Peru's Carranza Sees 'Important' 3Q And 4Q Economic Recovery

Finance Minister Luis Carranza said Tuesday the decline in Peru's economic growth likely will hit a floor in the second quarter and the economy will post an "important recovery" in the third and fourth quarters. Carranza made his comments in a speech.
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US Airline Employment Falls 5.5% In April:Transportation Dept

Employment at U.S. passenger airlines fell 5.5% in April from a year earlier, according to the Department of Transportation's Bureau of Transportation Statistics, as carriers continue to shrink capacity.
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Housing Finds Footing But US Still Mired In Recession

The U.S. housing sector may have finally found its footing while inflationary pressures remain muted, government reports released Tuesday showed. However, another steep decline in industrial output served as a sober reminder that even if the 18-month-old recession is losing some of its steam, it shows no sign of actually ending, and a return to rapid expansion is unlikely for many months at least.
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Spanish Union Chief: May Suffer Dramatic Job Losses In Autumn

Spain's sluggish economy may be heading toward an autumn of massive job losses once the impact of recent government stimulus fades, a top union leader said Tuesday. "The autumn could be as dramatic as the first few months of this year for the economy and for the labor market," Ignacio Fernandez Toxo, the chief of labor union Comisiones Obreras, said during a conference in Santander.
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USD/JPY's decline finds support at 96.20

The 130 pips rejection movement from 97.30 has found support at 96.20 level. The pair has begun to rise slightly to levels above 96.40. Currently the pair is trading around 96.35/45, 1.30% below today's opening price.
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ECB Tumpel-Gugerell:To Do Everything To Help Stabilize Latvia

The European Central Bank will do all it can to support Latvia's economic stabilization, one of the bank's top officials said in a newspaper interview published Tuesday.
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USD/CHF rebounds from 1.0825 and rises to 1.0890

USD/CHF has been bounced at 1.0825 again in the American session and it has been launched above the 1.0850 to levels close to 1.0890.
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GBP/USD falls close to 1.6400

Cable has been unable to reach 1.6500 levels in the last hour and the pair has fallen from 1.6480 to test the 1.6400 level. Despite the rejection, the pair is trading on the positive daily side yet, rising 0.90% so far today from opening price to the current 1.6400/10.
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ECB Weber Sees No Need For Further Monetary Policy Steps

There is currently no need for additional monetary policy measures from the European Central Bank, a member of its 22-strong rate-setting governing council said Tuesday.
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Mexico's Stocks Move Lower, Led By Cemex; IPC Index Down 2%

Mexico's stocks gave up modest early gains and were sharply lower mid-session Tuesday, led by shares of cement company Cemex (CX). The IPC index of leading issues was down 2% to 24,412.82 points around 1:41 p.m. EDT
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USD/JPY moving in a range between 96.50 and 96.20

The yen is rising against the Dollar so far during the American session. USD/JPY rally downside finding support at 96.20 above intra-day low at 96.07 reached earlier.
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ECB's Mersch: Sees Positive Econ Growth Rates From Mid 2010

The European Central Bank expects the euro-zone economy to return to positive growth rates in another 12 months time, a key policy maker said Tuesday.
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EUR/USD founds support at 1.3825

Markets are falling in the U.S. for second day in a row. EUR/USD is rising for the day, but during the American session the Dollar has recovered some ground.
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C$ Cedes Early Gains To End Slightly Lower

The Canadian dollar rose alongside other currencies and traded as high as the C$1.1220 area in Tuesday's early going, as the U.S. dollar was set on the defensive globally by resurgent concerns about its ability to continue as the world's dominant reserve currency.
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Spain Union Chief Sees Dramatic Job Losses In Autumn

Spain's shrinking economy may be heading toward an autumn of massive job losses, highlighting the need for an agreement on broader social benefits for the unemployed
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Brazil Real Ends Weaker As Reserve Currency Change Talk Wilts

The Brazilian real closed weaker against the U.S. dollar as the greenback strengthened globally Tuesday, and talk of a change in the reserve currency came to naught
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Mexico's Stocks Close Lower On Cemex, US; Peso Ends Weaker

Mexican stocks fell for a second consecutive session Tuesday, pulled lower by cement company Cemex (CX) and a negative reaction in the U.S. to economic data.
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GBP/USD tests support at 1.6400

The Pound moved in sideways during the American session. First rose to 1.6475 near intra-day high at 1.6507 and then fall to 1.6385 which is 165 pips.
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Argentina's Stocks Sink In Delayed Reaction To World Decline

Argentine stocks fell Tuesday in a delayed reaction to the previous day's declines in other world markets.
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US Consumer Confidence Down 2 Points Latest Week

U.S. overall consumer confidence fell last week, according to an ABC News poll released Tuesday. The consumer comfort index fell two points to -49 in the week ended June 14, from -47 a week earlie
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Colombia IGBC Stock Index Dragged Down By DJIA; Peso Weaker

The Colombian benchmark IGBC stock index fell Tuesday, dragged down by shares in New York and markets in the region. The IGBC benchmark index fell 1% to 9571.99 points, after rising four days in a row
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UK Darling:Changing Tripartite Setup Won't Stop Future Crises

The U.K. won't prevent future bank crises by reworking its tripartite regulatory structure, Chancellor of the Exchequer Alistair Darling will signal in his annual Mansion House speech Wednesday evening.
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Changing Tripartite Setup Won't Stop Future Crises

The U.K. won't prevent future bank crises by reworking its tripartite regulatory structure, Chancellor of the Exchequer Alistair Darling will signal in his annual Mansion House speech Wednesday evening
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Brazil Rises To 8th Rank In Emerging Mkt Retail - A.T. Kearney

The annual study considered 30 nations, and gauged items such as political and macroeconomic risks, market attractiveness, market saturation and velocity of retail expansion
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U.S. markets fell for second day in a row; Dollar recoversWall Street fell again on Tuesday, following a drop in stocks on Monday. The Dow Jones lost

Wall Street fell again on Tuesday, following a drop in stocks on Monday. The Dow Jones lost 1.25% and ended at the lowest level of the day near the 8.500 zone
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Japanese Yen strength continues

Japanese yen continues risen early Asia to its highest level in more than a week as the greenback remains under broad pressure while officials of the BRIC group of economies ponder its status as a reserve currency
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Asian Shares Mostly Lower On Econ Doubts, But Nikkei +0.5%

Australia's S&P/ASX 200 was down 1.1% with South Korea's Kospi Composite off 0.5% and New Zealand's NZX-50 down 0.6%, though the Nikkei 225 was up 0.5%, showing some resilience after Tuesday's 2.9% tumble
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Australian Leading Economic Index -3.5% Annualized In April

A coincident index, which is a broad measure of current economic activity, contracted at an annualized rate of 0.5%, compared with a contraction of 1.6% in March
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Australian 1Q Housing Starts Fall 4.0% Vs 4Q

The total number of houses and apartments that started construction in Australia in the first quarter of 2009 fell 4.0% to a seasonally adjusted 30,949 from the fourth quarter of 2008.
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EUR/USD current price: 1.3812

EUR/USD current price: 1.3812. Slightly bearish in the hourly, pair is basing in the 1.3810 zone, first static support for the next hours
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Asian Shrs Mostly Lower On Econ Doubts; Fincls Weak

Asian share markets were mostly lower Wednesday as skepticism crept in about the strength of a global economic recovery, though heavy industry stocks were providing some support in Tokyo
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Yen retested yesterday’s low

USD/JPY, pair has just retested yesterday’s low around 96.10, where we saw a strong upside rebound, that should continue above 96.55 zone, 20 SMA in the hourly, to confirm further recoup in the pair
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GBP/USD, hourly indicators show downside will remain limited in the hourly, as both momentum and CCI had turn downside up. 20 SMA above actual price, yet still pretty bullish, confirms the bias
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Euro and Pound in Range

EUR/USD has been trading between 1.3900 and 1.3800 during Asian session. After hitting 1.3930 intra-day high during U.S.session, the Euro dropped to 1.3805 low on early Asian session to bounce to current levels around 1.3885
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Asian markets decline after on concerns about recovery; Euro and Pound consolidating

Asian markets are going through losses on Wednesday, recent rally has vanished on investors' concerns about the pace of economic recovery after signs of economic weakness in the U.S. and lower oil prices
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Euro approaches 1.3900 after bouncing at 1.3805

The Euro dropped on Yesterday's U.S. session from 1.3930, to reach 1.3805 low during early Asian session times, and the Euro has recovered ever since to reach levels approaching 1.3900.
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Pound approaches 1.6500 after bouncing at 1.6350

The Pound dropped yesterday from levels above 1.6500 to hit 1.6350 low on Asian session times, and the Pound has appreciated afterwards to reach resistance area at 1.6500.

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Peru's Stock Indexes End With Declines; Sol Weakens

Peru's stock market indexes ended lower Tuesday, due in good part to a drop in metals prices that dragged down mining company shares.
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European Stocks To Open Lower; Investors Fret

European stocks are expected to open lower Wednesday, following losses in the U.S. and Asia, as investors take money off the table after the substantial gains of the last three months amid worries about the pace of any potential economic recovery.
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The Dollar recovers after spike down to 95.95

The Dollar declined to 95.95 intra-day low on Asian session to bounce afterwards and reach levels around 96.70 at the time of writing.Onmn a longer perspective, the bias is negative..

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EUR/GBP falls to post 0.8439, fresh 6-month low

The slightly recovery from 0.8450 support in the yesterday late American session has been capped at 0.8500 resistance in today's Asian session
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Spain April Home Sales -48%;Highlight Deep Recession

Spanish home sales transactions fell 48% on the year in April, in the wake of the collapse of a decade-long housing boom that has pushed Spain's economy into a deep recession, data from Spain's National Statistics Institute, or INE, showed Tuesday.
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USD/CHF breaks below 1.0850 again

The pair's rebounds from 1.0825 has found a strong resistance at 1.0875 and the USD/CHF has begun to fall below the 1.0850 level. USD/CHF is falling 0.90% so far today from 1.0934 today's opening price to the current 1.0835/45.
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ICSC/Goldman Sachs Chain Store Sales Dn 0.6% In June 13 Wk

The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 0.6% in the week ended Saturday from its level a week before on a seasonally adjusted
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USD/JPY jumps above 97.00

The Dollar rebounds from 96.05 intra-day low against the Yen has risen further in the last hour and the pair has climbed up to levels above 97.00 in a 105 pips
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Dollar picks up from 96.05 low and approaches 97.00

The Dollar has bounced at 96.05 intra-day low on Asian session to appreciate during European trading hours, reaching levels below 97.00
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Turkey Extends Period Of Tax Cuts For Some Sectors-IHA

Turkey's finance ministry Tuesday extended the period of tax cuts for some sectors, including automotive, white goods, and electronics, for a further three months in a bid to boost the economy, the Ihlas News Agency, or IHA, reported
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Euro pulls down from 1.3922 to levels below 1.3900

Euro - Dollar recovery from 1.3745 intra-day low has halted at 1.3922 intra-day low after buoyant German ZEW Economic expectations Index, and the Euro has pulled down to levels right below 1.3900 later on.

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EU's Barroso Asks Leaders To Consider Options For Economy

European Commission President Jose Manuel Barroso has asked European Union leaders to consider policies to deal with either a deeper economic crisis or clear signs of recovery, the commission said Tuesday
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Policymakers Need Econ Stimulus "Exit Strategy"

Policymakers need to start planning a withdrawal of massive amounts of monetary and fiscal stimulus or risk causing further damage to the world's ailing economy, European Central Bank Governing Council member Miguel Angel Fernandez Ordonez said Tuesday.

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Inflation Stalls At Record Low In May

Energy subtracted around 0.3 of a percentage point from the annual inflation rate," Luigi Speranza, an economist at BNP Paribas SA, said in a note. "This is likely to continue in June
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Holy Ahmadinejad!

Holy Ahmadinejad! Iran up in arms! Get out the billy clubs as it looks like Iran and oil is having a post election insurrection
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Bears continue to prowl homebuilding shares

Shares of the homebuilders fund have dropped 4% today to stand at $11.65. We observed one near-term bear pawing at put options on the ETF in the June and July contracts
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Polish inflation inched down to 3.6% y/y in May

Polish inflation inched down to 3.6% y/y in May – primarily on the back of strong base effects.
There was a bit of good news for the Baltic markets yesterday when the Lithuanian government announced that it had succeed in raising EUR 500m in a 5-year eurobond issue.

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ECB Financial Stability Review highlights banking risks

Today, the calendar heats up both in the euro zone and in the US. In the euro zone, the final figure of May CPI and German ZEW index (June) are scheduled for release
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Markets: Fixed Income

On Monday, global bonds extended their recent rebound, as investors booked profit on the three-month rally in the equity and commodity markets

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NY Fed deteriorates slightly in June

In June, the NY empire state manufacturing index dropped from -4.55 to -9.41, while the consensus was looking for only a marginal decline (-4.6)

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European stocks flat; Euro and Pound pick up

European stocks remain practically unchanged from their opening levels after three hours of trading on Tuesday, following Monday's sell off.
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German Jun ZEW Econ Expectations 44.8 Vs 31.1 In May

German economic expectations in June rose to 44.8 from 31.1 in May as experts predict a recovery will start by year-end, the Center for European Economic Research said Tuesday.

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Euro-Zone Inflation Stalls At Record Low In May

The euro zone's annual inflation rate dropped to a record low of zero in May, cementing expectations that consumer prices will decline in annual terms in the coming months due to the drop in fuel prices over the past year, final official data showed Tuesday

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Italy Final May CPI Confirms Lowest Rise Since '68

The rise in Italy's consumer price index slowed, as expected, in May to its smallest increase since 1968, pulled down by prices of goods and services, final data from statistics office Istat showed Tuesday.
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Latvia Budget Vote Begins At 0900 GMT; May Last Into Night

Facing the threat of national bankruptcy, Latvia's parliament will begin voting on its latest austerity package at 0900 GMT Tuesday, a spokesperson for the parliament said

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Austrian May CPI +0.3% On Month, +0.3% On Year

The Austrian consumer price index rose 0.3% on the month and 0.3% on the year in May, while the European Union-harmonized inflation rate was 0.1%, the statistics office said. In April, prices rose 0.2% on the month and were up 0.7% on the year, while in March they increased 0.3% on the month and by 0.8% on the year.

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UK CPI rises above expectations in May

Consumer prices have risen 0.6% in May from April, and 2.2% in the last 12 months; well above the market expectations of a 0.3% monthly and a 2.0% year on year increase. Pound's recovery has extended to levels above 1.6400.

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Israel's May CPI Up 0.4% On Month

Israel's consumer price index for May rose 0.4% on the month, putting annual inflation at 2.8%, within the government's target range of between 1% and 3%, said the Central Bureau of Statistics.

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The Pound extends recovery to levels above 1.6400

The Pound is soaring after UK CPI posted the lowest year on year increase in 18 months, and bounce at 1.6210 extends to levels at 1.6430 resistance.
In case of further climbing above 1.6430, next resistance levels

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Euro-Zone Inflation Stalls At Record Low In May

The euro zone's annual inflation rate dropped to a record low of zero in May, cementing expectations it will turn negative in the coming months due to the drop in fuel prices over the past year, final official data showed Tuesday.

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East Europe May Inflation Rates Too High For Euro-Zone Entry

None of the eastern European candidates to join the euro zone had inflation rates low enough to do so in May, according to figures released Tuesday by European Union statistics agency Eurostat.

Poland and other eastern European members of the European Union have said they want to secure rapid entry into the euro zone as their currencies have come under pressure with the withdrawal of foreign capital in response to the global financial crisis.

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Euro-Zone 1Q Labor Costs +3.7% YY Vs +4.0% YY 4Q

Labor costs in the 16 countries that use the euro eased in first quarter of 2009 from the record high rate in final quarter of 2008, while wage costs also dropped back over the same period, European statistical agency Eurostat said Tuesday.

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German June ZEW Economic Expectations 44.8 Vs 31.1 In May

German economic expectations in June rose to 44.8 from 31.1 in May as experts predict a recovery will start by year-end, the Center for European Economic Research said TuesdayThis is the highest reading since May 2006

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Euro returns to levels above 1.3900 after ZEW data

The Euro has extended its gains after the sharp improvement of German ZEW Economic Expectations Index and, rebound from 1.3745 low has reached an intra-day high at 1.3922.

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