EU Bank Stress Tests Due Mid-July

The European Banking Authority (EBA) continues to court controversy with the way it is administering the recent round of bank “stress” tests. The testing process has been in progress since March and is designed to restore confidence in the European banking system awash in questionable...

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Fitch Warns of Greek, US Debt Default

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EURO Panic Attack is Only a Step Away

The big dollar has traded surprisingly poor despite the lukewarm news on Greece and global equities just about finding their feet in the overnight session. This morning the market has already been exposed to a dismal ZEW headline. The sentiment index fell-9 versus a more...

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Weak EURO Shorts Being Squeezed

Stronger than expected Chinese growth data has given a slight boost to risk appetite. Growth in Chinese industrial output (+13.3%) and fixed asset investment (+25.8%) remains robust and above market expectations, while retail sales (+16.9%) was modestly below expectations in O/N releases. Despite the slowing...

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Forex Week in Review June 5-10

It’s get out of Dodge time. The EUR continues to falter as sovereign-debt worries remain at the forefront. The ECB seems to be losing its grip on its own independence and is in danger of becoming more of a political pawn in Europe, talking its...

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Dismal Dollar Wins By Default

The dollar is being supported by global growth concerns. Weaker industrial production in Europe and Asian should keep the currency better bid until next week. Every Central Banker has mentioned that lower fuel prices is the key for the market’s outlook for a recovery over...

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EURO Locked and Loaded

With the BoE expected to keep policy on hold, the key focus this morning is clearly on the ECB. The market expects an unchanged rate decision. However, it’s the press conference that will gauge the markets reaction. The bias is towards a hawkish stance. Investors...

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