- Draghi: will watch data to decide if rates need to be cut again
- Draghi: some downside risks have materialized
- France supports re-appointing Juncker as Eurogroup leader
- Eurogroup meeting continues, here’s the agenda
- China to lower retail fuel prices
- Spanish fin min: final agreement on bailout on July 20
- Fed’s Williams says QE3 including MBS the most effective tool if action needed
- BOE’s Tucker: Didn’t know Libor was manipulated
- Eurogroup approves Mersch for ECB managing board
- US May consumer credit +$17.1B vs +$8.5B exp
- Egan-Jones lowers Netherlands one notch
- GBP leads, NZD lags
- S&P 500 down 0.2% to 1352
The market hasn’t had much to focus on, aside from some bullish oil news. The Eurogroup meetings are underway and we may see some positive spin afterwards. The euro crept higher in a quiet market, rising to 1.2320 from 1.2300 at the NA open.
Slipping US Treasury yields pressured USD/JPY down to 79.57 from as high as 79.70.
AUD and NZD were near session lows as US trading got underway but it has been a slow climbe back to 1.0208 in AUD/USD from 1.0170 as the beginning of the session.
CAD has been unable to do anything despite the $2 rally in oil. Spot at 1.0190.
