Biggest % gainers: NZD/JPY up 1.25%, NZD/USD up 1.13%, CHF/JPY up 1% on NZD strength and some USD & JPY weakness. This is where more of the momentum is today...to the upside.
Biggest % losers: GBP/CHF down 0.77%, USD/CHF on some CHF strength.
Gold $1,177 perking back up rather nicely!
Hildebrand Says SNB Acting Against Swiss Franc as Greek Woes Hit Euro Switzerlands central bank will continue to counter any excessive gains of the franc against the euro as the spreading debt crisis across the euro region prompts investors to shift their money into the Swiss currency, President Philipp Hildebrand said.
Euro Rises Versus Dollar on Signs Greece May Reach Accord on Budget Cuts
Spain's Unemployment Rate Exceeds 20%, Complicating Efforts to Cut Deficit Spains unemployment rate rose above 20 percent for the first time in more than a decade.
JPY The Bank of Japan pledged to help lenders provide credit after reports showed the economic recovery isnt yet strong enough to overcome deflation.
EUR Euro Zone Unemployment still at 10%
CHF KOF Economic Barometer inline at 1.99. 1.96 was the reading last time.
CAD GDP m/m came in a bit worse at 0.3% vs. 0.5% BUT their economy is still expanding and so traders are betting that rate hikes are around the corner in June or July still.
USD Advanced GDP q/q came in worse at 3.2% vs. 3.4% expected. Last time was 5.6%.
USD Chicago PMI came in at 63.8 (better than expected) vs. 60.0. Last time was 58.8. (Anything above 50 shows that manufacturing in that region is expanding).
USD Revised UoM Consumer Sentiment comes out at 9:55am EST today....not 10am, that would be FAR too late. ha-ha!
Moody's and S&P both say that Italy's ratings are stable.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.