- Trichet: Euro zone’s growth pattern could be uneven. On bond putrchase programme we don’t give any more information. Re additional liquidity, to adopt fixed rate with full allotment in 3-month till September 2010
- U.S. Treasury’s Geithner: Reform of China’s exchange rate is “critically important” Important for China to understand U.S. Congress will act if it does not move on currency issue
- George Soros: Financial crisis far from over, we’re in second act now. Global economy could be headed for a double dip
- U.S. jobless claims fall to 456,000 June 5 week vs consensus 448,000
- U.S. April trade deficit $40.29 bln vs consensus $41.00 bln
- German constitutional court rejects injunction against EU safety net guarantees sought by lawmaker – Lawmakers office
- Roubini urges ECB to ease monetary policy to offset austerity
- U.S. sells $13 bln 29 year 11 month bonds at high yield 4.182%, awards 84.84% of bids at high. Bid to cover ratio 2.87
- Trichet: Have indications budget execution in Greece on track in first 5 months
Risk on today with greenback and yen giving ground. S&P finished up an impressive 2.9%, oil up around one and a half bucks.
EUR/USD up at 1.2130 from early 1.2050 having been as high as 1.2142. News that German constitutional court had rejected injunction against EU safety net guarantees certainly helped underpin euro. As US stocks rose throughout the day so did EUR/USD, tripping stops through 1.2110 on way to 1.2142.
Cable rallied well, putting on three quarters of a cent. Finishing around 1.4710 having been as high as 1.4717 after stops were tripped through 1.4700.
USD/JPY finishes around 91.25, effectively unchanged on the day, hostage to cross plays going on around it. Better risk sentiment saw EUR/JPY finish up at 110.70 from early 109.95.
