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Market Overview by FXCC June 28 2012

The calm before the storm.... EU Summit formally begins today.

Today begins the three ring circus, known as the EcoFin Summit, or the EU Summit, with all the hype of a Broadway Show, getting more press coverage then the Euro games as Finance Ministers from all the EU nations advance their own personal agendas while seeking as much press coverage as possible. Markets will be controlled by news flow and press with lots of incorrect, ...

Market Review by FXCC June 27 2012

EU Summit to consider "Grand Master Plan" while Europe Burns

US markets traded with a positive bias today, as the S&P 500 and NASDAQ were both up approximately 0.75% after yesterday’s sell-off. Bonds sold off, but only moderately while crude traded fairly flat in the US. The near-month Brent crude future shot up 2.3% on news that striking oil workers in Norway caused the closure of four oil platforms on top of the shut-down ...

Daily Market Review by FXCC June 26 2012

EU in total turmoil and chaos... Moody's downgrades 28 Spanish Banks

Markets traded with a negative bias on Monday: equities sold off in Europe and North America (-2% on the DAX, -1.6% on the S&P 500, -0.9% on the TSX) on a succession of ominous news reports out of Europe. Spain announced that it would seek bailout funds from the Eurogroup, and later Cyprus announced that it would seek bailout funds from the Eurogroup… the ...

Daily Market Review by FXCC June 20 2012

Markets eagerly await the FOMC statements later today

US markets rose yesterday and ended at five-week highs after upbeat housing data, as the Federal Reserve considered further moves to stimulate the economy. A recent batch of disappointing U.S. economic data such as industrial production, retail sales and jobless claims, has contributed to the optimism about further stimulus to be announced following the conclusion of its two-day ...

Daily Market Review by FXCC June 19 2012

Euphoria over Greece turns to Anxiety over Spain

It didn’t take much time for the euphoria over the Greek elections to die out, as markets are falling in morning trade. The focus is shifting to the bigger economy of Spain and its ever-growing borrowing costs. Spanish Bond yields ended well above the 7% mark. The SGX Nifty is trading higher by 3 points, tracking other peers.

On the economic front, we have the Zew ...