The lights have authority over all of Brussels with the beginning of the week, as it meets euro-zone finance ministers to agree on a slide following after the Greek finance the same goal investigative visit by the Troika (EU / ECB / IMF) over the weekend. Some reports suggest that investigators were not satisfied with the progress that has been made in terms of reforms, but the Greek Finance Minister Yannis Stornaras reported that he will be likely to reach an agreement on the liberalization of 240 billion euros of loans before the start of the meeting. However, investors are aware of the size of the gap between the facts and the comments of politicians so closely the results, which would run from the summit.
Likely to include discussions also witnessed by the recent appreciation Portuguese borrowing costs - where revenue exceeded bonds due in ten years the level of 7% in the past week - along with efforts to help Cyprus. In a different framework, due to be published the International Monetary Fund annual report Ocean develop the economy in the euro zone, while will be made by European Central Bank President Mario Draghi testified before the quarterly Economic and Monetary Committee of the European Parliament.
Due to the progress in containing the debt crisis since last year's report, it is likely to stress the International Monetary Fund on the sustainability of the recession in the currency bloc. He called on the international lender the European Central Bank to cut interest rates and the adoption of measures to facilitate unusual in the year 2012. It is possible to re-repeat it again, but that similar comments would be more neutral following the cautious stance taken by the central bank in the previous week. The same applies to the governor Draghi certificate. In general, it indicates the possibility of testing the euro upward correction in the absence of any surprises from the Brussels meeting.
Highlighted the main points of the Asian session
Greenwich Mean Time
Currency
Index
The actual reading
Expected
Previous reading
23:50
JPY
Bank lending banks, with the exception of deposits - June
2.2%
2.3%
2.1%
23:50
JPY
Bank lending banks, including deposits - June
1.9%
1.9%
1.8%
23:50
JPY
Total average current account - Palin - May
623.3B
600.0B
852.7B
23:50
JPY
The balance of trade on the basis of the balance of payments - Palin - May
-906.7B
-902.1B
-818.8B
23:50
JPY
The current account - YoY (May)
58.1%
91.6%
100.8%
23:50
JPY
Total current account - Palin - May
540.7B
600.0B
750.0B
1:30
AUD
Index ANZ Job Advertisements - Month (June)
-1.8%
-
-2.5%
2:35
NZD
REINZ index of house prices - June
3685.8
-
3686.9
2:35
NZD
REINZ index of house prices - Month (June)
0.0%
-
0.7%
2:35
NZD
REINZ index for home sales - year (June)
0.0%
-
7.5%
4:30
JPY
Bankruptcies - year (June)
-8.0%
-
-9.0%
5:00
JPY
Economy Watchers Survey: status quo - June
53.0
55.5
55.7
5:00
JPY
Economy Watchers Survey: Outlook - June
53.6
55.7
56.2
Euro Session: What to Expect?
Greenwich Mean Time
Currency
Index
Expected / current
Previous reading
IMPACT
5:45
CHF
Unemployment rate - June
2.9% (A)
3.0%
Medium
6:00
EUR
German trade balance - euro - June
13.1B (A)
18.0B
Medium
6:00
EUR
German current account - in euros - June
11.2B (A)
16.7B
Medium
6:00
EUR
German imports - Month (June)
1.7% (A)
1.2%
Low
6:00
EUR
German exports - Month (June)
-2.4% (A)
1.4%
Low
7:15
CHF
Industrial production - annual (Chapter I)
3.0% (A)
1.7%
Low
8:30
EUR
A Santeks survey of investor confidence in the euro zone - July
-11.4
-11.6
Low
10:00
EUR
German industrial production - YoY (May)
-0.5%
1.0%
Medium
10:00
EUR
German industrial production - Month (May)
-0.5%
1.8%
Medium
13:00
EUR
Meeting of euro zone finance ministers in Brussels
-
-
High
13:00
EUR
Draghi speech before the European Parliament
-
-
Medium
13:00
EUR
Statement of the International Monetary Fund on the European situation
-
-
Medium
Major turning points
The pair
Support levels
Resistance levels
EURUSD
1.2784
1.2895
GBPUSD
1.4806
1.5027 x
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