- New Democracy fails in attempt to form coalition, Tsipra gets next crack
- Venizelos calls for pro-European coalition
- Greece has enough money to get through July
- Senior Greek official: Greece likely headed back to polls
- Schaeuble: root causes of crisis must be tackled
- US consumer credit hits 10-year high
- Spain bad bank talk
- Spain’s Bankia bailout could hit 10B euros
- Lagarde: It’s not growth vs austerity
- Fitch: No ratings implications for Hollande’s win
- Conference Board’s April employment trends survey rises to3-year high
- RBI sells dollars to defend rupee
- Iran takes CNY for oil
- S&P 500 flat at 1369
- CAD leads, EUR lags
The euro may have fallen below the recent floor but it got back to its feet (knees?), at 1.3055. EUR/USD has been mostly static in US trading, slowly eating away at the opening gap after opening at 1.3040. It almost felt like a holiday today but only the UK was closed.
USD/JPY touched 80.00 right at the open but slid back to 79.85 and is now at 79.90.
Cable was a good mover, falling 30 pips to 1.6145 at the open the rallying to a session high at 1.6197 as stops were hit above 1.6180. So far, supply up to 1.62 has stalled the rally but GBP keeps coming back for more.
EUR/GBP hit a 3-year low at the weekly open and is perilously close to a close below that crucial 0.8068 level.
Friday’s CFTC numbers showed CAD as the market darling and an early push to parity was ratcheted down to 0.9930 — a strong signal of market demand for the loonie.
