- U Mich consumer sentiment 73.6 vs 72.3 exp
- Canada CPI +1.3% vs +1.5% exp
- German lawmakers say Merkel considering easing Greek bailout terms
- Madrid mayor: Spain bailout seems inevitable
- White House: SPR release on the table
- IEA: SPR release not called for
- German/French CDS hit 1-year low
- DJIA closes at highest since 2007
- VIX at lowest since 2007
- S&P 500 up 0.2% to 1418
The Merkel comment gave a bit of life to EUR/USD in the early going but it faded as Europe closed out euro longs ahead of the weekend and the pair drifted as low as 1.2288. A late, flow-driven pop to nearly 1.2350 has faded back to 1.2329.
USD/JPY closes out the week at a one-month high but constrained by the 100-day moving average above.
An Australian Treasury report hints at rate cuts but speaks out against intervention and weighed on the Aussie, down to 1.0416.
CAD was the best performer on the week but bubbled back to 0.9900 on the soft CPI report.
Have a great weekend everyone!