FX Weekly: 4th July 2011
Non-farm payrolls will take centre stage and could be a leading indicator for the introduction (or ruling out) of QE3
Lower risk aversion across the board – VIX Index down every day last week, CHF lower across the board
The ECB will be in the limelight, not Greece. Apart from delivering the universally expected 25bp rate hike to 1.5%, we also expect the ECB to widen the corridor back to +/-100bp
Friday's employment statistics are likely to be the focus of attention in the US this week. Ahead of these releases, initial jobless claims and ADP private payrolls are also likely to matter as the market looks for guidance
Lower risk aversion across the board – VIX Index down every day last week, CHF lower across the board
The ECB will be in the limelight, not Greece. Apart from delivering the universally expected 25bp rate hike to 1.5%, we also expect the ECB to widen the corridor back to +/-100bp
Friday's employment statistics are likely to be the focus of attention in the US this week. Ahead of these releases, initial jobless claims and ADP private payrolls are also likely to matter as the market looks for guidance
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