#Goodmorning from #IronFX! Here are the #IronFX main points for today by Marshall Gittler: • #USD generally weakened last week vs #G10; #NZD was biggest gainer, #CAD biggest loser – #NFP excitement was replaced by #FOMC minutes dovishness – Key this week then will be Fed Chair #Yellen’s testimony Tuesday & Wednesday – Further clarification of Portuguese banking problems also important – #NZD: stronger on #Fitch upgrade. I remain bullish. – #CAD: down on poor unemployment data. I remain bearish ahead of this week’s Bank of Canada meeting, which could adopt a more dovish tone to tame the #currency • #Commodities coming under pressure, especially oil, softs – Oil lower as Kurds take Iraqi oilfields, Libya reopens export terminals – US crops doing well with adequate rain, cool weather • Today: – #Eurozone: EU industrial production for May expected lower, could be EUR-negative. Focus on the situation in Portugal and European bank stocks. #Draghi testifies to the EU Parliament economic and monetary committee – US: No indicators.
Posted on: Mon, 14 Jul 2014 05:41:58 +0000
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