FX SUMMARY

A more range bound session so far in FX and most cross assets.

• Initial price action was led by European PMIs.
• France beat expectation, and EURUSD went bid to print 1.2240 high.
• But a miss for Germany saw EURUSD pushing to session low at 1.2210.
• This was followed by decent PMIs for the EU, which in turn brought back the pair at mid range 1.2222.
• AUD and NZD are the poorer performers against the Greenback, on lower Commodities.
• But the NZD is been over taken in the raking by the NOK, as WTI extend losses in the early European session.
• WTI has now lost just over 8% from May's high, albeit trading flat today, after bouncing off the lows.
• UK Retail Sales was a big beat, providing a 15 pips spike for the Cable, testing the 1.4200 figure, to trade 0.05% versus the Dollar (pretty much flat).
• UK PMI saw a beat for Manufacturing and Composite, and slight miss for services.
• GBP trades in the green against most G10s, besides the SEK and JPY, buoyed by the data.
• Looking ahead, US PMI and Canadian retail sales are the notable releases.
• On the speaker front, ECB Lagarde, Fed Bostic, Kaplan, Barkin, Daly
• After market, Moddy rating on Greece