Forex: Thursday's review
22.07.2011, 08:19

Forex: Thursday's review

The dollar dropped against a basket of rival currencies on U.S. debt ceiling talks. In addition, the S&P reiterated the risk of a downgrade of U.S. debt within three months.
The euro hit the 2-week high versus the dollar on bets the European Financial Stability Facility may guarantee Greek bonds.
The Australia’s dollar rebounded and shows a steady growth.
The Canadian dollar rose for a third day versus its U.S. rival as today the Bank of Canada prompted investors to move forward the date of expected interest rate increases.
The yen gained after beating data from Japan Ministry of Finance, showing ¥70.737 billion ($897 million) trade surplus in June.

EUR/USD: on results of yesterday's session the pair  grown in  $1.4420 area .
GBP/USD: on results of yesterday's session the pair   grown in  $1.6310 area .
USD/JPY: on results of yesterday's session the pair  decreased in Y78.50 area .

At 0900GMT  EMU industrial orders data is due for May.
It is a light US data calendar for Friday with just the BLS data at 1400GMT and the Treasury Allotments By Class release at 1900GMT. The BLS 
will release two separate reports on Friday. Mass layoff activity in June could be higher as government job cuts continue, as well as some in 
manufacturing after supply chain disruptions slowed factory activity in  April and May. The numbers for state unemployment rates and payroll will 
give some detail to the national employment report, but should not  change the overall perceptions of conditions in the labor market.

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