ZuluTrade Blog

Market View

Dull overnight session ahead of today's Independence Day in the United States

Wednesday, July 4, 2012 3:34 AM GMT

Good Morning ,

- Dull overnight session ahead of today's Independence Day in the United
States and central bank decisions in Sweden (today) and tomorrow in Eurozone
and Great Britain. Main action was in Aussie, which rallied to 1.0320 after
stronger than expected Retail Sales.

- STocks: Nikkei +0.45 %, Hang Seng +0.23 %, Shanghai Composite -0.24 %,
Dow Jones +0.56 %, S+P500 +0.62 %

- Some relief could be in sight for sovereigns in the European Economic and
Monetary Union following the agreements reached at the eurozone summit on
June 29, said an article published by Standard & Poor's Ratings Services,
titled "The Tide May Be Turning For Eurozone Sovereigns Following The June 29

- International Monetary Fund Managing Director Christine Lagarde said she is
not in the mood to renegotiate the terms of Greece's bailout agreement.

- Italian Prime Minister Mario Monti said there isn't rift between Italy and
Germany over the need for fiscal discipline, according to an interview in the
Wednesday edition of the Frankfurter Allgemeine Zeitung newspaper.

- The U.S. economy will grow by 2 percent this year and about 2.25 percent in
2013 amid a "tepid" recovery and the European debt crisis, the International
Monetary Fund said, lowering its previous projections. The U.S. remains
"subject to elevated downside risks, in light of financial strains in the
euro area and uncertainty over domestic fiscal plans," the IMF said. In an
April report, the IMF forecast U.S. growth of 2.1 percent this year and 2.4
percent in 2013.

- Australia Data Recap                            Period     Survey     Actual     Prior
* AiG Performance of Service Index           June           -          48.8       43.5

* Retail Sale mom                                   May        0.2 %      0.5 %    -0.2 %

- China June HSBC services PMI fell to a 10 months low of 52.3 vs 54.7 May

- The falling cost of crude oil and raw materials filtered through to shop
prices last month, the British Retail Consortium (BRC) said today. Overall
shop price inflation slowed to 1.1% in June from 1.5% in May, its lowest
level in two-and-a-half years, while food inflation fell to 3.5% from 4.3%,
the BRC said.

- US Independence Day
- 0945 Italy PMI Services June
- 0950 France PMI Services June
- 0955 Germany PMI Services June
- 1000 Eurozone PMI Services June
- 1000 Eurozone PMI Composite June
- 1100 Eurozone Retail Sales May
- 1030 UK PMI Services June
- 0830 Sweden PMI Services June
- 0930 Sweden Riksbank Interest Rate announcement


Have a nice day !

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