GBPUSD

Global food prices had their biggest drop in more than two years in May as the cost of dairy products slumped on increased supply, easing strain on household budgets. An index of 55 food items tracked by the United Nations’ Food & Agriculture Organization fell 4.2% to 203.9 points from 213 points in April, the […]

European leaders are under intense pressure to try to resolve the crisis at a June 28 to 29 EU summit as Spain struggles to keep the debt wolves at bay and Germany holds its hard-line stance that reform and austerity come before growth. Madrid is now asking for deeper eurozone integration so that European rescue

On Tuesday there was little in the way of news flow, except of the G7 emergency teleconference, which yielded very little in the way of results or news. And there was even less on the eco calendar. The fundamentals affecting the markets on Tuesday were: Australia GDP grows 1.3%, more than twice estimates Australia’s economy

European markets will lead global influences again on four main counts.  First, German releases could be the most important development in the eurozone as consensus expects each of factory orders, industrial production and exports to take a step backward from solid gains the prior month.  If correct, then that would stoke renewed fears about the

Bonds continued their march to lower yields today. US 10’s now yield 1.56%, UK 10’s yield 1.56%, German 10’s yield 1.2%… and Spanish 10’s yield 6.5%. The extent to which European capital is cycling out of Spanish (and to a lesser extent Italian) paper and into German paper is extreme. German bonds that traded with