While the risk rally is losing some steam ahead of the weekend, the Aussie and Canadian dollars continue to be broadly firm. In particular, notable strength was seen against the euro and EUR/AUD and EUR/CAD continue to hover around the record lows made Thursday. Spain's 10-year yield continue to hover around 7% level and would continue to weigh on the common currency. The dollar and yen are mixed so far as risk appetite pressured both currencies against high beta ones. But both are still stuck in range against European majors.
German Bundestag voted in favor of the Spanish bank bailout plan yesterday after Finance Minister Schauble warned that "problems in the Spanish banking sector have become a danger for the European economy." Germany's EUR 29b contribution to the EUR 100b bailout program for Spain's troubled banks was now approved . But the bigger problem in Germany is that the Constitutional Court has yet to approve the permanent bailout fund, the ESM and will need to wait at least until September 12 before a decision. Separately, Spain's Parliament approved the EUR 65b austerity package.
On the data front, Australia's import price index rose 2.4% qoq in Q1 versus expectation of 1.5% qoq. German PPI dropped more than expected by -0.4% mom in June versus consensus of -0.2% mom. Year-over-year, PPI moderated sharply to 1.6%, comparing with May 2.1%. UK public sector new borrowing is expected to drop to GBP 11.2b in June. From Canada, headline CPI is expected to climb back to 1.8% yoy while core CPI is expected to rose to 2.3% yoy in June. The inflation data would support BoC for not abandoning its tightening bias.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Euro Hovers Near Record Low Against Aussie And Loonie
Published 07/22/2012, 07:38 AM
Updated 03/09/2019, 08:30 AM
Euro Hovers Near Record Low Against Aussie And Loonie
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.