{"id":10242,"date":"2010-06-15T07:22:03","date_gmt":"2010-06-15T11:22:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10242"},"modified":"2010-06-15T07:22:03","modified_gmt":"2010-06-15T11:22:03","slug":"forex-market-review-06152010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/15\/forex-market-review-06152010\/","title":{"rendered":"Forex Market Review 06\/15\/2010"},"content":{"rendered":"

Market Analysis by Finexo.com<\/a><\/span><\/strong><\/p>\n

EUR<\/strong>
\nThe euro’s rally showed signs of faltering yesterday, as Moody\u2019s decision to cut Greece\u2019s debt rating to junk reminded forex traders that Europe\u2019s debt crisis is from over. Release of the news just before Monday\u2019s closing bell saw the pair slip back down and head towards $1.22. While expected, the news of the downgrade curbed an earlier burst of short covering that took the currency to almost $1.23 \u2013 its highest level in more than a week.\u00a0 Moreover, the single currency dropped to a new 19-month low against the British Pound and retreated from a near one week high versus the Japanese Yen.<\/p>\n

Major upcoming events include the German ZEW report, which is expected to show that Europe\u2019s leading economy is on a solid path to recovery. Last month\u2019s number reflected the economic turmoil in Europe, and as result the figure fell to 45.8. German exporters have been benefitting from the weaker euro, and a stronger ZEW number could indicate that the recent debt crisis might be moderated by economic recovery. Economists predict a small recovery in the key economic figure to 48.7 points, a reflection of the relative stability seen over the course of the past few weeks.<\/p>\n

GBP<\/strong>
\nOfficial comments to reduce public borrowing have boosted the British currency. However, news of Moody\u2019s downgrade of Greece\u2019s debt has renewed risk aversion \u2013 resulting in a stronger Dollar and a weaker Pound.\u00a0 As a result, after trading just above 1.4800 yesterday, the GBP\/USD turned bearish and consolidated around 1.4740. Today\u2019s Inflation Report Hearing will be significant in gauging the BOE monetary. A higher inflation figure could be bullish for the pound, as investors would this to lead to higher interest rates in the near future.<\/p>\n

JPY<\/strong>
\nThe Yen was little changed after the Bank of Japan announced its decision to hold the overnight call rate steady at 0.10%. The central bank announced that it will offers up to \u00a53 trillion in loans to commercial banks in a new loan plan aimed at redirecting money to industries with high growth potential.<\/p>\n

Forex Market Review & Analysis by Finexo.com<\/a><\/strong><\/span><\/p>\n

Disclaimer: Trading the foreign exchange (Forex) carries a high level of risk, and may not be suitable for all investors. All information and opinions contained on this website are to be used for general informational purposes only and do not consitute investment advice.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Finexo – The euro’s rally showed signs of faltering yesterday, as Moody\u2019s decision to cut Greece\u2019s debt rating to junk reminded forex traders that Europe\u2019s debt crisis is from over…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10242","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10242"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10242\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}