The US dollar retreated for a second week in a row, in anticipation of a victory of pro-bailout parties in Greece and for some central bank intervention. The Greek elections are a huge event that is expected to trigger extreme volatility, but it is not the only big one in a week that sees the G-20 summit and a closely watched rate decision in the US. Will global leaders and central bankers make dramatic announcements? Here is an outlook on the market-movers that will shape forex trading this week.
The markets quickly saw the holes in the Spanish bailout announcement, and the initial rally didn’t last too long. The bigger elephant in the room, Italy, continues suffering from unsustainable bond yields. In the US, economic indicators continue disappointing: lower than predicted retail sales figures, lower manufacturing, higher jobless claims which rose to 386K, Is this enough for QE3? Not really.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-weekly-outlook-june-18-22/"]Forex Weekly Outlook June 18-22k June 18-22[/URL][/I][/B]
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