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Forex Forum Archive for 06/09/2012
Pick a date from the header above to view forum postings for that day.
GVI Forex 22:56 GMT June 9, 2012
Cambridge Joe 22:51 GMT June 9, 2012
Cambridge Joe 22:33 GMT June 9, 2012
Cambridge Joe 22:02 GMT June 9, 2012
Dillon AL 17:19 GMT June 9, 2012
GVI Forex john bland 12:50 GMT June 9, 2012
Last week trading activity was dominated by Central bank decisions. Odds are the RBA is now on hold and the BOC still has a modest tightening bias. The ECB appears to have an easing bias as does the BOE. Both kept policy steady in the past week. China (PBOC) cut its key lending rate on Thursday by 25 bps to 6.31%. In the U.S., FRB Vice Chair Yellen took a dovish posture on policy late Wednesday. However, Fed Chairman Bernanke was non-committal ahead of the FOMC decision on June 20. He cannot pre-commit for the FOMC which will still have to vote on policy. It may never be announced as such, but there clearly is coordinated easing underway by the top central banks.
The major focus this week will be Europe with the Greek election next Sunday, June 17. Expectations are that a government that supports the bailout (pro-Euro) will prevail, so the surprise would be an outcome where the deal is rejected. This could be a hesadline -driven week. Expect the markets to start to set up for the vote (defensively) as early as Monday. There is an EU conference call today on a Spanish bank bailout discussions. We should know something before the end of the day. On Wednesday, the EU will hold a summit on economic growth, which is a step in the right direction, but they need to go beyond talking.
GVI Forex 11:25 GMT June 9, 2012
GVI Forex john bland 10:51 GMT June 9, 2012
China Industrial Output May 2012
CPI yy: +9.6% vs. +9.9% exp. vs. n/a prev.
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GVI Forex john bland 10:23 GMT June 9, 2012
China CPI May 2012
CPI yy: +3.0% vs. +3.2% exp. vs. 3.4% prev.
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Syd mm. 09:29 GMT June 9, 2012
ed kw 02:32 GMT June 9, 2012
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