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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