- Spain injects 15B euros into banks
- Spanish banks told to create bad banks
- Venizelos will return government mandate tomorrow
- Canada adds 58.2K jobs vs 5K exp
- U Mich consumer sentiment hits highest since Jan 2008
- US PPI -0.2% m/m
- Fitch says European downgrades coming if Greece bolts eurozone
- Greece Q1 deficit 9.1B vs 7.37B last year
- Syriza out front in another poll
- European stocks mostly higher
- CAD leads, AUD lags on day
- USD leads, AUD lags on week
- S&P 500 falls 0.3% to 1354; -1.1% on week
Rumors of an Italian downgrade and talk of LTRO3 kept the market on its toes. Risk trades made some headway after the consumer sentiment data but increasing odds of another Greek election and uncertainty about the stability of Spanish banks won out with EUR/USD ending the week near the US low at 1.2917.
USD/JPY traded between 79.80 and 80.00 without much conviction.
Cable made a run higher above 1.61 early in US trading but slumped back to opening levels at 1.6065 near the close. Buyers were rumored in the 1.6050/60 range.
USD/CAD was the big mover in the session, falling to 0.9955 after the jobs report from 1.0045 beforehand. After Europe closed it was a slow climb back higher to parity.
