·
Markets
we stuck in a tight range last night with little driving the markets but
sentiment still a little bearish
·
USDMYR
still pretty much trading in the large range of 3.1000-3.1500 with low volumes
as conviction level is still low and risk sentiment directing the pairs
movement
· Greek
economy shrunk 6.2% for the 2Q versus predictions of -7%, its still bad but
probably disappointed those that are looking for negative numbers
· US
was less positive with concerns over demand out of Asia after Japan’s weak
GDP figure yesterday
· First
to Europe where Angela Merkel is back from holidays and I assume she will be
straight into action talking to world leaders about measures to ease the
crisis, beginning with Canada’s
PM Stephen Harper this week.
· Other
leaders are still holidaying, mind you, England’s PM David Cameron will be
holidaying somewhere in Europe and as such I think a big collaborative effort
on European measures may still be delayed for a few weeks as the holiday season
over there wraps up.
· The
Euro strengthened overnight against the USD on some slightly better news out of
the region; EURUSD trading in the range of 1.2200-1.2400.
· Equity
indices didn’t do a heap with Spain’s
IBEX the only one in slightly positive territory with gains of 0.31%, the Stoxx
600 lost 0.3% and the FTSE lost 0.26%.
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