Trial now
USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

EURO-DOLLAR
EURO-DOLLAR: ECB Draghi dovish comments provided the impetus to take rate
through support at $1.1203 Tuesday, the break of $1.1200 boosted the momentum
before it met support into $1.1180(low $1.1181, May31 low $1.1180). Rate managed
to recover to $1.1210 ahead of NY before the US session moved down for another
look at support, then settled around $1.1195 into the close. Early Asia nudged
rate up to $1.1202 but struggled before it eased back to $1.1187. Rate trades
back above $1.1190 into Europe.
- ECB Draghi acknowledged that additional stimulus will be delivered if outlook
does not improve, noting that rate cuts are part of the ECB's tool box. The
Sintra forum continues with focus on other ECB speakers.
- Trump said Tuesday evening that formal China-US trade talks resume Wednesday.
Asked if he wanted to demote Fed Chair Powell he said let's see what he does.
Main focus is on tonight's FOMC announcement. Most expect no change and look for
a signal for a July cut. Suggestion that if Fed cut at tonight's meeting it
could bring in to play the Fed's independence. 
- E5.17bln of options roll off with strikes between $1.1190-1.1210.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com