FxBriefs Weekly Wrap Up

Having trouble viewing this email? Click here to view in your browser. Forward this newsletter to a friend. WEEKLY WRAP UP: June 22, 2013 FxBriefs US wrap: Dollar adds to gains as yields rise JUN. 21, 2013 20:00 GMT Canadian CPI rises 0.7%; retail sales up 0.1%; loonie slides Greece’s Democratic Left party leaves government; coalition has only 3-vote cushion Merkel says there will be no central European superstate Fed’s Bullard: Fed may need to increase QE if inflation slows Hildenrath: Market may have misinterpreted Fed US 10-year note closes above 2.50%, highest in 22 months S&P 500 rises 0.3% The dollar extended its gains, briefly retracing  shade more than 50% of the recent drop in the DXY. The rally came off the boil after WSJ Fedwatcher Hilsenrath wrote that the market has got it all wrong. EUR/USD bounced from 1.3099 to 1.3060 on the headline and stocks managed a bounce (which faded late in the session. Bonds remain toxic, closing above 2.50% for the first time since the US downgrade in August 2011. Trends remain in place. Emerging markets currencies continue to fall, as do commodity currencies. USD/JPY shifted in consolidation mode on a 97-handle for much of the US session. We end near 97.75. Fxbriefs Asian wrap: Equities slip again… AUD found a couple of friends JUN. 21, 2013 04:18 GMT Eurogroup  agrees on EUR 60 bln bailout fund Schaeuble: Cyprus must fill obligations Rehn : ESM direct recap agreement is another step forward Regling: Spain made it clear they won’t ask for more bank aid                ESM will release 2.1 bln Euro to Portugal Emerging markets crushed by double squeeze in China and America (AEP) Moscovici: IMF has not threatened to drop support to Greece Aso: Aims to unveil Japan fiscal reform plans by mid year. Yamaguchi: Yield spike would seriously impact Japan economy NZ ANZ Consumer Confidence rose 0.2% BHP sold 15% stake in a WA iron ore mine to Japanese conglomerates Pretty quiet session on the whole, USD/JPY dropped from 97.45 to 96.87, the move was attributed to the Nikkei futures sliding down 2% in late trade. Japanese importers were decent buyers below the 97 handle, pushing the pair back towards 97.15. As the Nikkei recovered somewhat, USD/JPY headed back towards 97.40. AUD/USD profit taking was the order of the day, opening around 9195, stops were first triggered above 9235, Japanese accounts were said to be buying small parcels of  AUD/JPY all session, maybe linked the BHP story. The move lost momentum above 9250, leverage sellers added supply. The pair settled back to trade 9230/40 for the remainder of the session. Support is seen down near 9143, 38.2 fibo on the 6009 / 1.1081 rise Was this email forwarded to you? Sign up to start receiving your own copy and download a free report. FxBriefs Home | Browse Topics | Free Reports | Economic Calendar | About | Unsubscribe HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. ADVISORY WARNING: FxBriefs.com provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FxBriefs.com specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any FxBriefs.com dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FxBriefs.com expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results. Copyright © 2013 FxBriefs.com