Archive for July 7th, 2010

EURUSD Weighed By Lack Of Risk Appetite

Risk trades are under threat one again after the few sparse economic releases of the week have so far managed to disappoint and the momentum of the recent rebound rallies starts to fade. This morning’s Eurozone final GDP reading confirmed a 0.2% QoQ pace of growth in Q1, but German factory orders in May significantly undershot estimates at -0.5% MoM (compared to consensus estimates of 0.3%)….

Dollar Strengthens as Risk Rally Loses Steam

G10 Advancers and Decliners vs USD
JPY 0.18
GBP -0.12
EUR -0.30
CHF -0.30
Asian markets have opened a touch weaker this morning following a day in which most markets (barring commodity markets) were in the green. The gains yesterday were largely expected; as the equity markets in particular had reached attractive levels which generated fresh buying interest following last week’s large scale sell-off. The Dow closed just 54 pts higher after an ISM non-manufacturing…