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EURUSD rose in Asia to 1.2748 (fresh 1 month high) after New Democracy Party won the elections

Monday, June 18, 2012 3:48 AM GMT

Good Morning ,

- EURUSD rose in Asia to 1.2748 (fresh 1 month high) after New Democracy Party
won the elections. Commodity- and EMG currencies continued to recover as well.
The move in USDJPY was somewhat muted (high so far 79.30).

- Stocks: Nikkei +1.99 %, Hang Seng +1.25 %, Shanghai Composite +0.51 %,
Dow Jones +0.91 %, S+P500 +1.03 %

- Political parties supporting Greece's international bailout will begin
forging a government on Monday after an election victory over radical
leftists staved off the prospect of the debt-laden country leaving the euro
and brought relief to global markets.

- "The Greek people have spoken. We fully respect its democratic choice. We are
hopeful that the election results will allow a government to be formed
quickly," European Council President Herman Van Rompuy and European
Commission President Jose Manuel Barroso said in a joint statement Sunday.
"We will continue to stand by Greece as a member of the EU family and of the
Euro area," they said in a statement following a Greek election.

- Euro zone finance ministers said in a statement on Sunday they would help
Greece transform its economy and that continued fiscal and structural reforms
were the best way for Athens to cope with its economic challenges. "The
Eurogroup acknowledges the considerable efforts already made by the Greek
citizens and is convinced that continued fiscal and structural reforms are
Greece's best guarantee to overcome the current economic and social
challenges and for a more prosperous future of Greece in the euro area," the
statement said.

- European leaders will hold a conference call to discus the outcome of the
election in Greece, an Italian official said.

- Discussions among officials from the Group of 20 nations over ways stimulate
the global economy are similar to those that took place at the summit in
Cannes, France last year, a Canadian official said. G-20 leaders will issue a
statement at the end of their two-day summit in Los Cabos, Mexico, on June 19.

- The International Monetary Fund said that it will work with a new Greek
government to help the country reach its economic goals. "We take note of the
election results in Greece and stand ready to engage with the new government
on the way forward to help Greece achieve its objective of restoring financial
stability, economic growth and jobs," the Washington-based fund said.

- French President Francois Hollande's Socialists won a resounding
parliamentary majority on Sunday. The Socialist Party and its affiliates
secured 307 seats in the parliamentary election runoff, according to the
final count for mainland France, comfortably more than the 289 needed for a
majority in the 577-seat National Assembly.

- Telegraph: A classified draft of next week's EU summit conclusions is the
first step on an emerging "roadmap" to a banking union, pooling debt via
eurobonds and political union via EU treaty change over the next 10 years.
The "limite" text - published exclusively by The Daily Telegraph, is secret,
restricted for the "eyes only" of diplomat and officials preparing for the 28
and 29 June European Council in Brussels.

- French President Francois Hollande called on the European Union to inject 120
billion euros into the bloc's economy by year-end to spur growth, Le
Journal du Dimanche reported, citing proposals sent June 14.

- China's home values fell in a record 54 of 70 cities tracked by the
government in May as developers cut prices to boost sales amid housing curbs.
The eastern city of Wenzhou led declines with a 14 percent slump in values
from a year earlier, while Beijing and Shanghai recorded losses of as much as
1.6 percent, according to data released by the statistics bureau today.

- China's economy will bottom out this quarter and rebound in the following
three months as government measures to stabilize a slowdown take effect,
according to Chen Yulu an academic adviser to the central bank said.

- Reserve Bank of India left rates unchanged - a cut was expected.

- New Zealand Data Recap                Period      Survey     Actual     Prior

* Westpac NZ Consumer Confidence    Q2              -         99.9      102.4

- IMM Positions: EUR -195k vs -214k, JPY 12k unchanged, GBP -23k vs -3k,
CHF -33k vs -34k, CAD 10k vs 15k, AUD -46k vs -51k, NZD -4k vs -5k

- 1600 US NAHB Housing Market Index June
- no major European data
- 1030 Bank of Portugal Cosa
- 1400 ECB Asmussen
- 1530 ECB announces bond purchases
- 1330 BOE Tucker
- 1430 Canada Intl. Securities Transactions Apr

 (CET)

Have a good start !

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