EurAnalysis

It is ok for today ;-}


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Yes it redirects to my last full market update. The last one was on Monday. Next one will be after Draghi press conference.

PT is great = }

oil just shot up over 100 in last few mins.. but e/u remains still!

why??

which oil are you referring to? Must be Brent Crude because WTI is at 87.50
I don't have charts for Brent.

ADD: I missed the question "Why?", so I'll answer now.

We are having a bit of a risk rally right now, however, USD is not falling. E/U rises with risk rallies because the USD falls as traders/investors pull their safe haven USDs out of US and convert to foreign currencies to trade or invest in emerging and European economies. Clearly this is not happening, but rather the USD capital is being invested in USD priced securities and commodities.

yes brent.. the 15 charts changes are identical though!
is this fishy a divergence of sorts?

Sorry I had missed your question "Why?" and I answered it after. Here's the answer...

many thanks.. all goes in the learning pot!

Spain raises 3.001 bln euros in auctions

By Gerry Davies || July 5, 2012 at 08:45 GMT
|| 0 comments || Add comment
Target 2.5-3.5 bln euros.
Sells 1239 mln euros in 2015 bond. Cover 2.3 from prev 3.2. Average yield 5.086% from prev 5.457%
Sells 1015 mln euros in 2016 bond. Cover 2.6 from prev 2.6. Average yield 5.536% from prev 5.353%
Sells 747 mln euros in 2022 bond. Cover 3.2 from prev 3.3. Average yield 6.430% from prev 6.044%

Didn't like my format?

No... It sucks the big banana

http://www.picturesof.net/_images_30...588-590054.jpg

dont worry bro..

not the end of the world.... LOL

http://www.wildcatforums.net/forum/a...-18-tshirt.jpg

My kind of girl. Thank you forex guru.

http://www.actionforex.com/action-in...0120705169265/

Dollar and yen continue to recover as markets are awaiting a jam-packed calendar with heavy weight events. ECB and BoE will announce rate decisions today and both are expected to provide additional stimulus to the markets. ECB is expected to cut rates by 25 bps while BoE is expected to expand the asset purchase program by GBP 50b. In addition, Spain and France will hold long term bond auctions today which will be an important test on markets' response to the EU accord agreed last week.

In Greece, prime minister Samaras is set to meet with troika with finance minister Stournaras. And from US, there will be release of ADP employment and ISM services, which will also have an impact on overall risk sentiments.

The ECB is expected to cut the main refinancing rate by -25 bps to 0.75% and the deposit rate by -15 bps to 0.1% at the July meeting. The forecast has taken into account policymakers’ concerns about taking the deposit to 0% which would inhibit credit creation and increase financial instability. Other than rate cuts, the ECB would probably not add unconventional measures this month. More in ECB To Cut Policy Rate To 0.75%, No Further Unconventional Measures.

Spanish treasury will sell up to EUR 3b of 3-, 4- and 10-year bonds today.

Markets see the 10 year auction in Spain as a "litmus test" after the EUR 100b banking bailout and the EU leaders agreed to allow EFSF and ESM to buy bonds in the secondary markets. Benchmark 10 year yield of Spain was slightly below 6.5% yesterday. France will sell up to EUR 8b of debts due in October 2019, April 2022 and October 2023. Ireland will also trey to sell EUR 0.5b of bills due in October. That's the first auctions since September 2010 and has symbolic meaning as Ireland finally returned to markets after bailout.

The BOE is almost certain to raise the size of asset purchases by 50B pound 375B pound at the July meeting. The MPC members last month voted 5-4 to maintain the asset purchases unchanged. Those voted against additional easing would like to gauge the impact of the emerging 'Funding for Lending', i.e. the Long Term Repo Operation (LTRO), but believed that further easing would be necessary in the future. Inflation in the UK has eased significantly in recent months. Headline CPI moderated to +2.8% y/y in May from +3.0% in April and above +5.0% in late 2011. As the price pressure faded away, this removed a hurdle for policymakers to ease further. More in BOE To Raise Asset Purchase Size To 375B Pound, 25% Of GDP.

On the data front, US ADP report is expected to show 100k expansion in the private sector jobs in June. Initial jobless claims are expected to be steady at 385k. ISM non-manufacturing is expected to dropped to 53 in June. Note that ISM manufacturing index surprisingly dropped below 50 level to 49.7 in June. That's the first contraction reading since 2009. A single weak ISM manufacturing data won't be strong enough to push Fed for additional easing. But the story will be different if we're going to have a weak ISM services today and a weak NFP tomorrow.

LOL anytime bro its all about sharing the love!!

http://finviz.com/forex.ashx

Crude Oil at $88.45 up $ .79 Cents
Brent Oil at $101.83 up $2.83

Norway Lock Out In Oil Industry (Statoil)

10 Year US Bond Yield at 1.60% and Gold is down at $1617 US
2 Year US Bonds at .31%

Taking this opportunity to head out for some sun and fresh air.
I'll be back before the ECB rate statement... unless I get sidetracked

Good morning guys.

I think we are

a) Forming weekly low right now
b) Going to spike at least to 1,268 after ECB press conference.

You know guys, everyone has his own dreams. You dream of bananas, I dream of 50 bps ratecut and spike up to 1,285 where I short like berserk. Ah, what a wonderfull dream this is.

T