Latest trading commentaries...
Getting rid of the elephant in the room
Simon Denham, Capital Spreads
So elephant in the room is to be thrashed out at today’s EU summit and considering that there have been countless summits over the past year that have ended in disagreement after disagreement there’s little hope that the politicians will reach any consensus at all.
Euro’s future in the balance
Mark Deans, Moneycorp
Lucy Harris, a 26-year-old mother-of-one, wife-of-none and daughter-of-two with no income, squandered £26,000 of her mother's money on travel, cosmetics and telephones. After four years her mother eventually discovered the scale of the woman's extravagance.
Glimmer of hope in sea of despair
Michael Derks, FxPro
As the single currency was preparing itself for another EU summit of disappointment, it seems that a rabbit may yet be pulled out of a hat. Few details are available on what was hammered out between France and Germany yesterday, but we should find out more today.
Will France and Germany meet an agreement?
Mark Bolsom, Travelex
The US budget negotiations appear to have become more fluid, while France and Germany are said to have come together over plans for a second Greek bailout. The news is supportive for broader market sentiment which has helped lift the euro, weigh on the dollar and other safe haven currencies such as the yen and Swiss franc.
EU leaders discuss bailout; China PMI manufacturing below 50
Andrew Timothy Robinson, Saxo Bank
EU leaders meet later today to discuss the bailout package to Greece amid rumours that Germany and France have already reached an agreement. On the data front we have Leading Indicators and the Philly Fed Index from the U.S. and a host of PMIs from Europe.
Euro gains ahead of EU meeting
Andrew Wilkinson, Interactive Brokers
The dollar weakened ahead of a meeting of European officials later in the week as expectations build for a positive outcome. Greek Prime Minister Papandreou has already coined the outcome as a make-or-break event for the zone although he doesn’t seem to know much more than the rest of us.
BoE minutes offer no surprises
Mark O'Sullivan, Currencies Direct
The Bank of England’s MPC minutes were released this morning with no real surprises among the announcement. The committee voted 7-2 in favour of keeping the base rate at 0.5% while as usual; only member Adam Posen wanted an increase in the quantitative easing measures from the current £200bn.
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