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Market View

The Australian dollar strengthened to the highest level in 11 weeks

Thursday, July 19, 2012 4:17 AM GMT

 Good Morning ,

 

§  The yen rose against all but one of its 16 major counterparts as concern Europe’s leaders will be slow to implement measures to stem the region’s debt crisis supported demand for Japan’s currency as a haven. The yen climbed for a second day against the euro before German lawmakers vote on a bailout for Spanish lenders.The Australian dollar strengthened to the highest level in 11 weeks against the greenback as Asian stocks extended a global equity rally, boosting demand for higher-yielding assets.

§  Merkel said in an interview posted on her Christian Democratic Union party's website that "We have not yet shaped the European project in a way that we can be sure that everything will turn out well, we still have work to do," according to a media report

§  Spain may be able to use EU funds to buy public debt

§  The IMF said that euro area crisis has reached a new and critical stage. Adds ECB can provide further defenses against an escalation of the crisis

§  UK PM says austerity drive could go beyond 2020

§  Canada financial conditions very accommodative - Carney

§  The Reserve Bank of Australia (RBA) sold A$1.26 billion ($1.3 billion) of Australian dollars on a net basis on the spot foreign exchange market during May, central bank data showed JUN +1,256 -4,978 42,253 (48,133) MAY +589 -9,274 43,940 (51,762) APR +366 -5,512 42,126 (49,796)

§  Australia Q2 NAB business conditions index -1, confidence -2, Q1 +3, -1, conditions 3-mos ahead eyed at +5, 12-mos ahead +16, last +7, +19

§  NZ’s job advertisements published by ANZ worsened to –1.4% m/m in June from a revised 3.0% m/m

§  Japan Reuters manufacturers’ sentiment index increased to -2 in July from -3 in previous month, and the index is expected to remain at +5 in October

§  Japan index for corp. fund demand fell to -3 in Q2 from +6 in the previous survey

§  China: Fan Jianping, state researcher said that China should ease policy when GDP growth eases below 8%

§  US will press China for more yuan flexibility - Brainard

§  Bernanke on Europe's Troubles - No solution soon, Disagrees that inflation will become a problem

TODAY'S FIGURES

 

 

   

10.00

 

EZ current account

10.00

 

EZ net investment flow

10.30

 

UK Retail sales mm and yy

14.30

 

CA wholesale trade

14.30

 

US initial jobless claims

16.00

 

US existing home sales

16.00

 

US leading indicator

16.00

 

US Philly fed

 
 

 

(CET)

Have  a  good  day !

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