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Snapshot of Global Capital Markets

May 04, 2010
The US dollar remains firmer across the board. A certain degree of skepticism continues to weigh on the euro. There are suspicions that Greece may need more funds and/or that the official moves do not prevent contagion. Others recognize that even if the package for Greece does the trick, a lower euro is still the likely consequence. In the UK, a w…
Snapshot of Global Capital Markets Snapshot of Global Capital Markets Reviewed by Marc Chandler on May 04, 2010 Rating: 5
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North American Players Not Convinced by Greek Bailout

May 03, 2010
After trading sideways in the London-less European session, North Americans have picked up where Asia had left off and have bought up the greenback. The euro has been pushed below $1.3200 and is approaching the $1.3115 low seen last week. Many have their sights set on $1.30.
The dollar has traded on both sides of last Friday's trading range ag…
North American Players Not Convinced by Greek Bailout North American Players Not Convinced by Greek Bailout Reviewed by Marc Chandler on May 03, 2010 Rating: 5
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Yen is Vulnerable

May 03, 2010
Japan's markets are closed until Thursday. That means that Japanese exporters believed to have capped the dollar's upticks in the JPY94.40-70 in recent weeks may not be there now. At the same time, a recovery in US equities and rising US yields may also favor a push higher for the greenback.
We note that the dollar-yen exchange rate is mor…
Yen is Vulnerable Yen is Vulnerable Reviewed by Marc Chandler on May 03, 2010 Rating: 5
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Global Update

May 03, 2010
The euro initially opened in higher in Asia in response to the Greek/EU/IMF package. However, it trended lower in Asia, though lost its momentum in Europe ahead of $1.3200. The generally firm manufacturing PMIs failed to elicit fresh buying. Many remain skeptical of the lasting impact and are not convinced that closure is really at hand. And in an…
Global Update Global Update Reviewed by Marc Chandler on May 03, 2010 Rating: 5
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FX Market Unimpressed with Europe

May 03, 2010
The US dollar is firmer across the board. The deal worked out by Greece and EU/IMF/ECB is helping to ease strains in the European debt market, but does not appear to have dealt a significant blow to those who think that some form of debt restructuring remains. Support for the euro is seen near $1.3200, while resistance in the North American sessio…
FX Market Unimpressed with Europe FX Market Unimpressed with Europe Reviewed by Marc Chandler on May 03, 2010 Rating: 5
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