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: July 6, 2013 FxBriefs European wrap: Summertime and the livin is easy (if you’re a dollar bull) JUL. 5, 2013 09:39 GMT ECB’s Costa: Portugal public and external debt “truly worrying” China state council: China to continue prudent monetary policy PBOC’s Xie: China’s financial markets are stable currently China bank watchdog: Shadow banking could trigger systemic risk EU’s Buti: Euro zone is facing financial fragmentation Swiss National Bank June reserves fall to 434.851 bln from 444.113 bln in May Swiss June CPI +0.1% m/m, -0.1% y/y, stronger than -0.1%, -0.4% median forecasts French May trade deficit -6.0 bln, down from -4.5 bln in April EUR/USD down at 1.2875 from early 1.2900.  It’s been a slow drift, dovish ECB continuing to weigh.  Talk of sell stops now through 1.2870 and more through 1.2850. GBP/USD has had a mare. Down at 1.4982 from early 1.5045, taking out 1.5000 barrier option interest along the way. Talk of buy orders clustered down at 1.4950/60.  Dovish Bank of England continues to weigh.  EUR/GBP up at .8592 from early .8570. Talk of sell orders clustered around .8600 and more up at .8620/30. USD/CHF up marginally at .9590 from early .9575. USD/JPY down at 100.00 from early 100.25 having dipped as low as 99.90.  Talk of buy orders clustered down around 99.80 and more down at 99.50/60, sell stops below there. Roll on the US non-farm payrolls!! Fxbriefs Asia wrap: A quiet end to the week for Asia JUL. 5, 2013 04:15 GMT NZ’s English: Government on track for surplus in 2014/15 Germany, Spain deal to ease credit crunch Ai group Performance of Construction Index rose to 39.5 IMF cuts Italian growth forecast China’s Zhu: Mixed view on Fed exit / would like more global coordination on QE exit timing Greece eyes next bailout Portugal leaders find a formula to avert government collapse No sign of an end to China markets woeful performance As you would expect, an extremely quiet session. USD/JPY opened at 100.03 and steadily climbed to 100.46, the buying said to be from Japanese importers and fixing demand, the move was also aided by the Nikkei opening +0.96% and extending gains. Japanese exporters added supply near to the high, as the buying dried up, the pair eased back towards 100.25 AUD/USD opened around 9145, eased off 15 pips before crossed related buyers pushed the pair towards 9150, talk was macro accounts were unwinding EUR/AUD longs. Custodial name had them to go above 9150 and together with Japanese sellers of AUD/JPY, the antipodean drifted lower to 9128. Good luck with NFP Have a great weekend Peter 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