Archive for July 19th, 2010

Skepticism is Growing Around EU Stress Tests

Monday, July 19th, 2010 at 8:00 pm  
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With Tokyo taking an extended holiday weekend – it’s hard to identify if there has been a shift in sentiment or if today’s actions are just the result of low liquidity. The media has taken a pessimistic tone following last week’s US data and this week’s upcoming EU bank stress test results. One event worth noting this week will be the BoC’s rate announcement on Tuesday. Markets are broadly…

Japan Closed, Markets Steady

Monday, July 19th, 2010 at 9:38 am  
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G10 Advancers and Decliners vs USD
CHF 0.20
GBP 0.05
JPY -0.13
EUR -0.17
With the Japanese markets closed for a national holiday, currencies haven’t been able to extend on Friday’s large selloff and have been largely stable this morning with a slight US dollar bias. The Greenback’s performance of late has raised questions about it’s status as a safe-haven currency and similarly the positive correlation seen between the major equity markets and pairs such as the EURUSD…