- IIF chief Dallara: EU summit “perhaps most important” since its founding, EU’s future at stake – Die Zeit
- Spain’s Rajoy: Key issue for SPain today is to finance itself on international markets
- Greece’s Venizelos: Greek recession is deepening
- EU’s Barnier: Growth is needed as well as rigor
- Merkel’s Dep Parliamentary leader Meister: Shared control must come before shared liability
- Spanish May retail sales fall -4.9% y/y, better than the -10% in April and better than median forecast of -8.2%
- Italian June business confidence 88.9, up from 86.6 in May and better than median forecast of 85.4
- UK mortgage approvals for home purchase 30,238 in May, down from 32,103 in April and lowest since April 2011. Net mortgage lending -£73 mln in May versus +£516 mln in April, the lowest on record
- UK CBI retail sales balance up to +42 in June from +21 in May, much better than Reuter’s median forecast of +10. Highest read since December 2010. Boosted by Queen’s Diamond Jubilee
- Greece’s recession to exceed 9% in Q3 – ekathimerini
- Spain mulls VAT hike in austerity push – Telegraph
Doesn’t get much quieter than this. Markets on hold ahead of tomorrows EU summit. A fair amount of rhetoric from various EU officials, but nothing of note to wake traders from their slumber.
EUR/USD sits at 1.2495, 5 pips easier from what greeted me first thing.
USD/JPY sits at 79.50, 5 pips firmer from what greeted me first thing
Cable sits at 1.5630, 5 pips easier from what greeted my firest thing
Y’all getting the picture now……….
