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 13, 2013 FxBriefs US wrap: France downgraded but damage to euro minimal JUL. 12, 2013 20:00 GMT Fitch downgrades France to AA+ from AAA; Outlook stable Portuguese bond market plunges; 10-year yield rises 60 bp at 7.55%; reaches 7.90% intraday US PPI rises 0.8%, core up 0.2%; firmer than expected AUD/USD slips briefly below 0.9000 at US open, rebounds to end at 0.9060. University of Michigan consumer sentiment index dips to 83.9 in July preliminary from 84.1 final in June Fed’s Plosser: Fed should start taper in September, end by year-end Fed’s Bullard: Fed should take more action to combat disinflation Big Italian banks have ratings cut by S&P, following sovereign cut earlier this week S&P 500 0.3% to a record close US 10-year note yield rises 2 bp to 2.59% EUR/USD fell in US morning trade and made a run a stops below 1.3000. A spike in Portuguese bond yields along with rumors (later proved correct) that France would be downgraded helped spark the sales. EUR/USD was rallying on dovish comments from the Fed’s Bullard when he Franch downgrade news hit the tape and stalled the rally. Dips were very shallow and we close at 1.3060. AUD/USD recovered from an early push to trigger barriers at 0.9000 to close at 0.9060. USD/JPY was a snoozer between 98.80 and 99.70. We close at 99.40. Cable was weighed down by EUR/GBP buying and ends the week at 1.5100. 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