FUNDYS


After breaking to fresh multi-day lows below 1.3300, the Euro has bounced, with the market managing to establish back above 1.3300. The initial selling in the major had been brought on by a continued wave of risk aversion and fear over the possible contagion in the Eurozone. Comments from Germany’s Merkel outlining the severity of the situation and potential threats had not done anything to help the Euro’s cause, and the market traded down to 1.3285 before bouncing....

Last week’s price action proved indecisive as global equities and the US Dollar – the benchmarks for their respective sides of the “risk on” vs. “risk off” argument – closed little changed on Friday. A tug of war between conflicting forces made...

Talking Points

* Japanese Yen: Higher Against Most Majors
* British Pound: Stands Ready To Aid Ireland
* Euro: Risks For Contagion Gathers Pace
* U.S. Dollar: Chicago Fed Index on Tap


The Euro fell back from a high of 1.3785 during the overnight trade as Ireland opted to seek a bailout from the EU, and the single-currency may face increased headwinds going into the North American trade as the risks for contagion intensify....

The euro spiked higher as Ireland’s central bank Governor said that he expects Ireland to ask for assistance from the EU and IMF. He said that the figure could run into the tens of billions of euros and he acknowledges that banks must hold additional capital. Speculation has been rife that Ireland will ask for aid since early in the Asia session and the confirmation has seen...

Advanced retail sales in the world’s largest economy rose 1.2 percent in October after climbing 0.7 percent the month prior amid expectations of 0.7 percent. At the same time, empire manufacturing in November entered negative territory for the first time since July 2009. Subsequent to the reports, the U.S. dollar lost ground against most of its major counterparts.

The rise in retail sales were led by climbing auto sales. Outside of autos, non-store retailers gained 0.8 percent, while...