Currencies

Forex.com’s Kathleen Brooks explains why the euro has become the new funding currency for the world.

Commonwealth Bank chief currency strategist Richard Grace sees the AUD pushing to 1.05 by year’s end and he has a list of reasons why.

Market analysts at FXCM see enough reasons to remain cautious on risk assets and positive on the USD.

Three major economies have announced policy easing over 24 hours, but the world has been left a little more depressed than stimulated. Dow down 46. (Accessible only for subscribers before 10:15 AEDT)

With the US closed and an ECB meeting due tonight, global markets took a breather overnight. (Accessible only for subscribers before 10:15 AEDT)

Forex.com’s Chris Tedder sees the market’s attention switching towards the Merkel/Monti meeting in Rome tonight. Rumours risk once again becoming investors’ main guide.

A surprise jump in factory orders had Wall Street in a feel-good mood ahead of tonight’s Fourth of July holiday. Dow up 72. (Accessible only for subscribers before 10:15 AEDT)

With Australia’s economy growing faster than the RBA had assumed, the board decided the cuts to now are sufficient.

The RBA has elected not to further cut its cash rate this month below the current 3.5%.

Weak US manufacturing data took the shine off the earlier EU summit rally last night, although it does bode well for QE3. Dow down 8. (Accessible only for subscribers before 10:15 AEDT)