Archive for July 14th, 2010

Asia Builds on Gains from US Session

Wednesday, July 14th, 2010 at 5:32 pm  
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G10 Advancers and Decliners vs USD
GBP 0.17
EUR -0.06
JPY -0.25
CHF -0.39
Asian equities opened in confident mood this morning (the Nikkei was approaching 3% gains on the day at the time of writing) and was trading stable, following a US session in which risk appetite was given a boost by a strong start to the Q2 earning season. The giant chip maker Intel posted a better than expected earnings per share at 0.51 cents versus analysts’ expected 0.43 cents and the…

Greece Auction & US Earning Support Risk Sentiment

Wednesday, July 14th, 2010 at 5:32 pm  
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Yesterday, the Euro was able to shrug-off Moody’s downgrade of Portugal with the buttress of a well-received Greek debt auction – the positive move was even further resistant to yesterday’s positive run in US equity earnings. As a result, EURUSD climbed quickly and was able to break the 1.2700 threshold. Nevertheless, we are not convinced that this rally has any real legs, as liquidity has been…