FX Highlights

  • Fed Chief Bernanke continues with Part 2 of The Town Hall meeting, discussions on the economy and jobs situations will be highlighted
  • USD/JPY opened the Asian session at 95.20 following a tight Monday US session, failing to post new Monday highs, sellers surfaced, citing a near term top
  • The EUR/JPY advances again, pushing the pair to a 3 week high of 136.89 yen, positive technical pattern lends support

  • The CABLE opened in Asia at 1.6593 but struggled to hold gains, RBA governor Stevens indicates a shift from a dovish to a neutral stance helped fuel the markets appetite for risk
  • The CAD posts its highest levels since October 2008, a positive spin on the economy helps boost commodity prices along with other growth linked currencies, a steady/better crude outlook continues
  • USD hits an 8 week low against the EUR as investors seek riskier assets, key 1.4300 levels fails to hold
  • AUD/USD posts gains, September levels in sight after Australia's central bank governor hints at rising interest rates
  • Pre-open US DOW and NASDQ stock futures lower
  • OIL prices dip slightly lower in pre futures trade

Upcoming Events

  • US- Case-Shiller Home Price Index (May), previous 139.18, Consumer Confidence (July) expected 49.0 vs. 49.3, Richmond Fed Manufacturing Index (July) expected 8 vs. 6, Fed's Yellen speaks in Coeur d'Alene on US economy, Fed Chief Bernanke Town Hall Meeting, Part 2
  • CAN- No key economic data due out