G20 summits don’t always set the pulse racing but this week’s gathering of finance ministers and central bankers in Moscow has a better chance than most of grabbing the attention of financial markets. The policymakers meet at a sensitive time with the U.S. Federal Reserve intent on slowing, then exiting a bond-buying program that has been creating $85 billion a month, and Beijing trying to rebalance the world’s most dynamic economy.
Goldman Sachs says its second-quarter profit doubled, boosted by a surge in stock and bond underwriting.
Union Finance Minister P. Chidambaram on Tuesday said that the rail tariff authority will be set up soon.
Jake Gyllenhaal is no longer hiding his affection for model Alyssa Miller after first being linked together last month. The two were spotted out in NYC holding hands like a real, bonafide couple while they strolled around the city with HIS MOM! But we’re guessing his momma didn’t feel like a third wheel because his pup joined them all for the stroll. Nothing like a little puppy company to turn three’s a crowd into a party!
Spanish Prime Minister Mariano Rajoy rules out stepping down after opposition leaders call for him to leave office due to a growing scandal over alleged illegal financing of the ruling People’s Party. Ciara Sutton reports.
Citigroup Inc reported a 26 percent rise in adjusted quarterly profit as stronger home prices reduced losses on mortgages and trading revenue rebounded.
Nothing like a little French wedding!Who wouldn’t want an intimate ceremony in France to kick off their new life with their loved one? Well, Halle Berry certainly wanted just that when she walked down the aisle with Olivier Martinez. The newlyweds reportedly first wed during a civil ceremony and then had a religious ceremony at Chateau des Conde in Vallery, France. And the event was kept small, especially for a celeb wedding, as they had about 60 guests in attendance
By CountingPips.com
The US dollar lost ground against most of the major currencies last week as the FOMC minutes and some dovish comments from Fed Chairman Ben Bernanke on the latest Fed tapering talk and presumed inevitability of the ending of the US Federal Reserve’s QE program helped to cool off the USD bull run. The FOMC minutes showed that some 
members are looking to see better jobs numbers out of the US before agreeing to cut the stimulus. This rhetoric dashed market expectations for continued US dollar strength and perhaps, more importantly, coincided with the market leaning heavily in favor of the US dollar which experienced a sharp reversal. The dollar selloff ultimately benefitted the US stock markets as they raced to new highs.
This week revolves around more comments from Fed Chairman Bernanke on Wednesday and Thursday as he speaks before both houses of US Congress. There are also other important events like the Chinese GDP report on Monday, the US consumer price index on Tuesday, Canadian interest rate decision on Wednesday and the eurozone G-20 finance ministers meeting on Friday. See more economic event highlights below.
Highlights of Fundamental Economic Events Next Week
Monday, July 15
China — GDP report
China — retail sales
China — industry production
Switzerland — producer and import prices
United States — advanced retail sales
Canada — existing home sales
New Zealand — consumer price index
Tuesday, July 16
Australia — RBA minutes
United Kingdom — consumer price index
euro zone — consumer price index
euro zone — Germany zew survey
United States — consumer price index
United States — treasury net TIC flows
Japan — BOJ meeting minutes
Wednesday, July 17
Australia — Westpac leading index
United Kingdom — bank of England minutes
United Kingdom — jobless claims
Canada — interest rate decision
United States — housing starts/building permits
United States — Fed Bernanke speech to US House
United States — Fed reserve beige book
Thursday, July 18
United Kingdom — retail sales
United States — Fed Bernanke speech to the Senate
Switzerland — trade balance
United States — weekly jobless claims
United States — leading indicators
United States — Philadelphia Federal Reserve report
Friday, July 19
Euro zone — G-20 finance meeting
Canada — consumer price index
Canada — BOC inflation core
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Research
By CountingPips.com
NZD/USD: The New Zealand dollar gained last week against the US dollar and closed the week over the 0.7750 level. This pair seems to be in consolidation mode around the 0.7750 level as the pair has not traded for any significant length of time under the 0.7700 price over the last four weeks. Only time will show whether the New Zealand dollar bulls can stem the tide and mount a comeback in the coming sessions. Important levels for the week start with the support level at 0.7750, the near-term resistance at the 0.7850 level in the 0.8000 level represents a major resistance level overhead.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
By CountingPips.com
AUD/USD: The Australian dollar’s recent and sharp decline has cooled off over the last few weeks and hit a low last week around the 0.9000 major threshold. To start the week, support looks to come in at the 0.9000 major level and weekly resistance may top out around the 0.9250 level that has provided resistance selling over the past three weeks. This pair has been in freefall for some time now and only time will tell when a strong base of support materializes.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
