Archive for July 15th, 2010

Markets Weaken On Renewed Recovery Concerns

Thursday, July 15th, 2010 at 1:36 pm  
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G10 Advancers and Decliners vs USD
JPY 0.33
CHF -0.06
GBP -0.07
EUR -0.13
The global economic growth story is back in question after the Fed’s slight downward revision to US growth prospects during last night’s FOMC minutes (the Fed cut its central forecast for growth this year to a range of 3-3.5% from a previous 3.2-3.7%) coupled with another negative retail sales figure at -0.5% had investors questioning the strength of the economic recovery. The mood carried into…

General EUR Optimism Continues

Thursday, July 15th, 2010 at 1:36 pm  
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EURUSD traded above 1.2700 but lacked the momentum to drive above the 1.2800 level. Part of the reason for the restrained market activity may be the EU Bank Stress test results expected to be released next Friday. While some say the release will be good for risk-correlated trades due to the high level of transparency – we believe this may only be the case if the anticipated cost of recapitalizing…