- Spain’s ForMin says more concrete measures to meet deficit target in next few days
- Spain’s 10 year govt bond yield continues to rise, back up at 6.60%
- Greece Pasok leader Venizelos: Greece needs more time to implement a realistic fiscal program
- BOJ raises economic assessment for all 9 regions in Japan in quarterly report. First time since October 2009
- Moody’s changes outlook on Barclays standalone rating to negative
- UK June Halifax prices rose 1.0% m/m, much better than Reuter’s median forecast of -0.2%
- German May manufacturing orders +0.6% m/m, better than Reuter’s median forecast of flat. April’s orders also revised upward, to -1.45 m/m from previous -1.9%
- New Zealand PM says kiwi a little high at $0.80
- UK M6 shut amid counter-terrorist operation
- London police arrest six terrorism suspects
Quiet morning session, market effectively on hold awaiting Bank of England and European Central Bank decisions.
Spanish and Italian govt bond yields have moved higher and this hasn’t helped the single currency any. EUR/USD down at 1.2505 from early 1.2525, having peeked briefly below 1.2500.
USD/JPY 10 pips easier at 79.70 in slow trade. Buy orders clustered 79.50/60, sell stops below there.
Cable marginally easier at 1.5570 from early 1.5595.
