ZuluTrade Blog
Image

Market View

........disaster for the whole of the European Union," Monti said.

Thursday, June 28, 2012 3:49 AM GMT

Good Morning ,

- Harsh words from Italy PM Monti were probably the only highlight overnight.
Currencies continued to trade in the ''well know ranges''. The two-day EU
leader summit will start today and Italy will try to sell bonds today after
BTP yields rose recently to levels not seen since early June/begin of the
year.

- Stocks: Nikkei +1.39 %, Hang Seng +0.20 %, Shanghai Composite -0.22 %,
Dow Jones +0.74 %, S+P500 +0.90 %

- The European Union faces potential disaster if its leaders don't cooperate
and find a way to keep interest rates on Italy's national debt down, Italian
Premier Mario Monti warned Wednesday. "If Italians become discouraged that
their efforts aren't helping, it could unleash "political forces which say
`let European integration, let the euro, let this or that large country go to
hell', which would be a disaster for the whole of the European Union," Monti
said.

- Luxembourg Prime Minister Jean-Claude Juncker said he expects European
leaders to calm investor concern about the seniority of regional loans to
Spain when they meet in Brussels.

- Federal Reserve Bank of Atlanta President Dennis Lockhart said while a new
bond-buying program remains an option, current conditions don't call for the
Fed to take such an aggressive step.

- Federal Reserve Bank of Chicago President Charles Evans said the U.S. central
bank didn't provide enough stimulus last week and called for new easing
including more asset purchases to spur economic growth.

- SNB Danthine said the country had a "rough road" since the global financial
crisis began. We had a "strong appreciation of the franc, which constituted
major challenges to the Swiss economy," Danthine said. "It has led to
difficult decisions and has led us to significant foreign-exchange positions.
This raised a lot of discussion, a lot of questions." He also said the franc
ceiling of 1.20 versus the euro "was a necessity, it is a necessity."

- Australia Data Recap         Period    Survey         Actual      Prior
* HIA New Home Sales           May          -            0.7 %      6.9 %
* Job Vacancie                      May          -            -5.3 %      0.7 %

- New Zealand Data Recap             Period       Survey          Actual          Prior
* NBNZ Activity Outlook                  June              -             20.8           34.9
* NBNZ Business Confidence           June              -              12.6           27.1

- Japan Data Recap                        Period           Survey       Actual         Prior
* Retail Trade yoy                            May              2.9 %       3.6 %        5.7 %
* Retail Trade mom                         May               0.2 %       0.7 %       -0.4 %
* Large Retailer Sales                      May              -1.0 %      -0.9 %       -0.6 %

- 1430 US GDP Q1 T
- 1430 US Personal Consumption Q1 T
- 1430 US Initial Claims
- 1700 US Kansas City Fed Manf. Activity June
- 1730 Fed Pianalto
- 0955 Germany Unemployment Rate June
- 1100 Eurozone Industrial Confidence June
- 1100 Eurozone Services Confidence June
- n/a EU Leader Summit in Brussels (28/29 June)
- 1300 ECB Constancio
- 1100 Italy to sell 2017/22 bonds
- 0800 UK Nationwide House Prices June
- 1030 UK GDP Q1 F
- 1030 UK Current Account Q1
- 1030 UK Total Business Investment Q1 F
- 1900 BOE Weale
- 0930 Sweden Retail Sale May
- 0930 Sweden Trade Balance May

(CET)

Have a nice day !

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.