ZuluTrade Blog

Market View

Currencies traded in narrow ranges ahead of central bank decisions in Europe and the UK

Thursday, July 5, 2012 3:55 AM GMT

Good Morning ,

- Currencies traded in narrow ranges overnight and ahead of central bank
decisions in Europe and the UK.

- Stocks: Nikkei -0.36 %, Hang Seng -0.37 %, Shanghai Composite -1.36 %,
Dow Jones +0.56 %, S+P500 +0.62 %

- Europe's debt crisis remains the biggest risk to Japan's economy and could
potentially affect its financial system, BOJ Gov Shirakawa said, signaling
the bank's readiness to act if any market turmoil threatens a fragile
recovery. He also repeated the BOJ's upbeat assessment that exports and
factory output are picking up as companies increase capital expenditure.

- Australia Data Recap  Period     Survey     Actual     Revised
* Trade Balance             May       -500m      -285m      -26m

- Australia is seeking to deepen trading between the local dollar and the yuan
as demand for commodities drives exports to China to record highs. The yuan's
internationalization "is clearly in the interests of Australian businesses
and the broader Australian economy," Treasurer Wayne Swan said. "Both
governments are very keen to see us deepen and broaden this important market."

- China's official statistics may be lagging behind independent data that show
a pickup in the world's second-biggest economy last quarter, according to a
new private survey modeled on the U.S. Federal Reserve's Beige Book. The
China Beige Book, through interviews of about 2,000 company executives and
bankers, found retail sales and manufacturing strengthened while property
sales increased and shortages of unskilled labor failed to abate. CBB
Int. LLC, the New York-based researcher that conducted the survey, provided a
summary of the results to Bloomberg News.

- The Philippines' debt rating was raised to the highest level since 2003 by
Standard & Poor's, taking President Benigno Aquino nearer his goal of
attaining investment grade and spurring gains in bonds and the peso.

- 1415 US ADP Employment Change June
- 1430 US Initial Claims
- 1600 US ISM Non-Manufacturing June
- 1200 Germany Factory Orders May
- 1345 ECB Rate Announcement - cut of 0.25 % to 0.75 % exp
- 1430 ECB Draghi
- 1830 ECB Weidmann
- 1300 BOE Rate Announcement - no change exp
- 1300 BOE Asset Purchase Target - increase of 50 bln to 375 bln exp
- 0930 Sweden Service Production May


Have a good 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.