Tisdagsbörs 9 Juli

EUR/USD extends its corrective upside

The pair keeps alive the bull run sparked on Monday ahead of the key event risk on Wednesday from the FOMC minutes. The subsequent speech by Chairman Bernanke will be crucial to sustain the current EUR rally, in order to recover the psychological mark at 1.3000. “At the current rate of progress, EUR/USD will get back to 1.30 and the S&P will hit new highs if Ben Bernanke is as dovish as everyone expects when he speaks in Cambridge Mass, tomorrow”, commented Kit Juckes, Strategist at Societe Generale.

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Mvh Wilden

FXstreet.com (London) - Kit Jukes, Global Head of Currency Strategy at Societe Generale mentions the risk around Bernanke speaking tomorrow.

He feels, at the current rate of progress, EUR/USD will get back to 1.30 and the S&P will hit new highs if Ben Bernanke is as dovish as everyone expects when he speaks in Cambridge Mass, tomorrow.

He said with a limited economic calendar at the start of this week, the focus is on a lack of new bad news in Europe, and the hope that Bernanke’s speech will help settle Treasury yields into a range, rather than perpetuate the sell-off. The Fed Chairman must, he added, despite receiving more than his share of criticism, be pleased with the way air is being let out of the carry-bubble: a necessary adjustment in yields is happening without excessive disruption to domestic markets.

A look at the highlights calendar for the rest of the week !

Tue, Jul 09 2013, 18:38 GMT

By: Adam Button

More details are in the economic calendar but these are the main events to watch out for. Wednesday: Chinese trade balance Japan's corporate goods price index (inflation) FOMC minutes Bernanke speaks in Boston Thursday: Australian employment BOJ meeting concludes Speech from ECB's Weidmann Initial jobless claims 30-year Treasury auction Friday: Eurozone industrial production Earnings from Wells Fargo U of Michigan consumer sentiment