Markets appeared to have reached a flashpoitn overnight with leaders squabbling over Eurobonds
U.S markets mark worst session in over a week.
European equities lose a percent.
Spanish yields rise, suggesting confidence is deteriorating and quickly!
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Bernanke has not ruled out further QE, but responded to a weak economic climate by extenting Operation twist by 270B though 2012
U.K unemployment cliams jump, FTSE ends higher.
Aussie markets start well.
Chinese manufacturing PMI due at midday
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Spanish yields decline
Fed likely to act on stimulus rumour
Greek's may receive relaxed austerity measures
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New Democracy will form coalition government
Equities, Aussie dollar rally on positive risk sentiment
G20 Summit set to start tomorrow, growth on the agenda
RBA monetary policy minutes due tomorrow.
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Rumours of a coordinated approach by central bankers to tackle the European debt crisis have buoyed markets overnight
U.S equities finished up over a percent, while European equities finished flat.
Bank Of England Governor King mentioned he may be getting closer to further stimulus or looser policy.
Pro-bailout New Democracy party leading election polls
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Greek elections due this weekend
Yields on Spanish debbt rise again
Geithner chimes in on debt crisis
U.S CPI and PPI dissapoint.
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New and improved blog. Have just updated bankexchangerate.net.
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Spanish yields hit fresh high, yet equities staged another rally
Market commentator describes as "headline roulette"
U.S stocks optimistic of fed stimulus
Calderon positive G20 will make significant headway
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Spanish bailout euphoria has dissipated
U.S equities finish down 1%
European markets flat
AUD/USD trading in a 0.9820-1.0000 range
EUR/USD dips
Spanish bond yields spike higher
RBA Governor Stevens speaks tomorrow
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The Euro and Aussie are both up this morning on news of a 100B EURO spanish bailout.
Chinese Exports smash estimates - proving pessimism about health of Chinese economy unfounded
U.S and European Markets look set for bumper opening tonight.
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Aussie GDP is due at 11.30am, exp. 0.5% above final quarter of 2011.
ECB rate setting meeting tonight, can Mario Draghi save the Euro?
Spain's PM re-iterates banks dont need rescue, but notes 40 billion EURO's will be enough to recapitalize banks.
Specualtion Bernanke will either undertake a second Twist or QE3
Overall markets confused, investors have no idea whats going on...
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Risk trades appear to be rising in anticipation of further international stimulus in what continues to be a particularly stubborn and drawn out recovery.
"Leaders from the Group of Seven countries will hold a conference call to discuss the European debt crisis today ahead of the G-20 meeting next week. The Reserve Bank ofAustralia lowered its key interest rate today by 25 basis points to 3.5 percent, the lowest level since 2009. China’s insurance regulator said it will allow insurers’ to broaden their investment scope, and four Taiwan government-controlled funds bought stocks yesterday to help pare losses, according to the Taipei-based Commercial Times." - Bloomberg
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Stay tuned for more information tomorrow morning on Bank Exchange Rate Blog
The Aussie dollar has rallied over night on global optimism
U.S market choppy, end flat Nasdaq up 0.4%
European markets mixed, Spanish bankers claim 40b EUROs enough to stem crisis
Facebook smoked down to US$26.90 a share
RBA Interest Rate decision at 2.30pm - 25 basis point cut expected.
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So despite May being behind us, June has not started well.
U.S Jobs numbers dissapointed, dropping to their lowest point in some time and well below expected. Officially 66K new jobs were created, well below the 150K+ that had been tipped.
U.S and european equities got smashed, DAX down 3.2%, while the Nasdaq was down over 2.5%.
Germany's agrees to give spain more time to reduce its deficit.
Upcoming Data: Australian RBA cash rate decision tomorrow
followed by jobs number on Thursday!
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