Risk appetite holding up well with a gap open in Dax. With nearly every major currency higher against the dollar, risk aversion just isn't present in the markets. This is surprising, given the ongoing negotiations between Greece and its creditors. There may be additional USD losses on any positive surprises on European politics.
1. Who Said What
- Greece offers new proposals ahead of emergency summit – Reuters.
- Washington fears losing Greece to Moscow – Financial Times.
- NZ Q2 consumer confidence index 113.0, Q1 117.4, still well above 100.
2. Calendar for today
Source: FXStreet
3. Asian Equity & FX Roundup
Asian equities were inspired by the reports of new & improved Greek concessions brough to the table today. Proposals are "more substantial" apparently, including tax hikes & spending cuts. More austerity that is applauded by policymakers but that will effectively strangle the Greek economy.
However, Nikkei up 1%, Hang Seng up 0.5%, ASX mostly flat.
FX markets were soggy - nothing to report. EU opening flows more influential.
Good Luck today!
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