- Moody’s cuts 15 global banks, as rumored
- Juncker: bailout dispersal to Greece expected before July
- Juncker: Portugal 2012 deficit target within reach
- Portugal fin min: revenues falling short but determined to hit deficit target
- Rehn: Ministers to approve Spain bailout on July 9
- Lagarde and Juncker say no renegotiation of Greek bailout
- Lagarde: bailouts should go directly to Spanish banks
- Greece says will not lay off workers for bailout
- Bank of America downgrades China GDP forecast to 8%
- EFSF loan to Spain could later be transferred to ESM
Fireworks in the US session but only the smell of sulfur afterwards. The majors are 20 pips away from the open or less with minor risk appetite as the theme.
The euro has climbed to 1.2554 from 1.2540 and touched a lofty 1.2565. Demand seen at 1.2520 and stop below 1.2500. Offers at 1.2770/80 with stops above 1.2620.
If anything had life it was USD/JPY, which opened at 80.27 but fell all the way to 80.00 just before the Tokyo open. It found some bids there and turned around to 80.33 — breaking above the US high.
The largest mover was the aussie, which recovered to 1.0053 from 1.0030 but nearly all the gains came minutes after the open.
Gold made a fresh two-week low at $1562 but has bounced to unchanged at $1566.
Have a great weekend!
