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July 9, 2009

Currency Market Snapshot

Currency Market Snapshot

 

Open

High

Low

EURUSD

1.38837

1.39351

1.38587

EURGBP

0.86386

0.865175

0.86288

GBPUSD

1.60725

1.61255

1.60295

EURJPY

128.952

130.018

128.092

USDJPY

92.8825

93.5175

92.38

 

 

 

 

Commentary: Yen crosses stabilise following a heavy selling. US equities closed falt and the Nikkei was down by 1.38%. The Aussie, USD and EUR rallied against the Yen as investors took profit on risk trades on short covering. The previous support levels are now considered the key sell levels as the market is selling in to any rallies.

Data due today:

06.00 GMT – German Consumer Price Index exp 0.4% for June

06.00 GMT – German Consumer Price Index YoY exp 0.1% for June

06.00 GMT – German Trade Balance exp Euro 9.0 Billion for May

06.00 GMT – German Current Account exp Euro 3.7 Billion for May

06.00 GMT – German Imports exp 0.8% for May

06.00 GMT – German Exports exp 1.5% for May

08.00 GMT – ECB Monthly Report for July

08.30 GMT – U.K. Visible Trade Balance exp Deficit Gbp 6.75 Billion for May

08.30 GMT – U.K. Total Trade Balance exp Deficit Gbp 2.85 Billion for May

11.00 GMT – BOE Rate Announcement exp No Change at 0.5%

12.15 GMT – Canada Housing Starts exp 130,000 for June

12.30 GMT – U.S. Initial Jobless Claims exp 603,000

14.00 GMT – U.S. Wholesale Inventories exp -1.0% for May

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