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Wednesday, July 11

11th Jul - EU Open: Buying Opportunity

S&P has come down fast, but is sitting around technical chart support levels and is still in a range. Though a break to downside remains a possibility, I would much rather be a bull for a day (Fed minutes out later today) than a sucker for a week.

See yesterday's US Close: Sale! and US Open: Waiting for article links.

News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

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Asia today: Currencies range at lower levels after German newsSaxo Bank
Currencies were steady at lower levels in the Asian session Wednesday, though a slight uptick in risk appetite was felt towards lunchtime. In EURUSD, the early attempt at a rally was rebuffed at 1.2330.

Market Preview: FOMC minutes top agenda Saxo Bank
European markets will open lower on overnight reports that the German constitutional court might further delay to reach a conclusion on ESM ratification. Elsewhere, the Minutes of the last FOMC meeting will be eyed for signs of QE3 on the horizon.

Danske DailyDanske Bank (pdf)
If any relief could be identified after the somewhat vague messages from the Eurogroup meeting  on Monday, it once again proved short-lived...Focus today will be on whether the Fed minutes from the June meeting give any further  hints regarding the likelihood of another round of quantitative easing.  

Morning Briefing: "Don't Push Me, Cos I'm Close To The Edge..." BNY Mellon
The Greek “fiscal cliff”

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