IntelligentHQ Forex Week In Review June 24th to June 29nd

In Association with OANDA Corporation

Report by  Dean Popplewell

bio_dean-e1339923416435 Dean Popplewell has a wealth of  experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is ’s resident currency analyst and has been writing’s daily forex blog since January 2007 as a way to share some of his forex experience with the  community.

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Week in FX Europe June 24-29 

The reality, market expectations were low heading into this weeks Euro summit. It is only natural to end the week witnessing some further squeezing of the record EUR short positions after this morning early Euro summit announcement. On the whole, the deal does not improve the solvency of indebted nations. It is again allowing banks easier access to more monies.
EUROPE Week in FX

Asia playing second fiddle to EUR 

Perhaps China could lead the way? Nope, data this week has not given risk lovers a “warm and fuzzy feeling.” China’s HSBC Flash PMI fell to a seven-month low of 48.1 in June from a final reading of 48.4 in May. The most frightening part, the new orders index component fell to 46.8 from 48.4 last month, a three-month low. It seems that the Chinese government attempt to spur growth has yet
ASIA Week in FX

Back to NFP and Monetary Easing

Focus this week happened to be on what was occurring across the pond. Stateside data had limited direct influence on the big dollar, that was left up to the EU summit outcome. The Euro relief or short covering pain is beginning to find some hidden support that is expected to carry into next weeks holiday shortened trading week in the US.
AMERICAS Week in FX


WEEK AHEAD

  • AUD, GBP and EUR Cbanks deliver their rate and QE recommendations
  • Sales data is presented by CHF and AUD
  • GBP and USD release some manufacturing reports
  • Building and construction data is announced by AUD, GBP and CAD
  • Inflation and PMI reports are presented by GBP, USD, CHF and CAD
  • Employment landscape is analyzed by USD and CAD
  • Demand for Spanish product is tested again after the release of AUD trade

 

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