EUR

An italian bond auction concluded with yields at 11-yr highs weighed on the single currency. Comments from Euro Zone leaders yesterday also set the weaker tone, as they highlighted that the EZ debt crisis is far from resolved despite the positive tone of

USD

USD gains marginally when seen against the majors, recovering some ground at the expense of the Euro mostly. The Debt ceiling debate remains unresolved and concerns start to gain ground as the 2nd August deadline nears. On the other hand weekly jobless su

GBP

The GBP manages some gain against the weaker Euro but remains weak overall as the UK reports weaker data and as risk aversion persists.

CHF

Swiss Franc eases slightly but defends its gains and remains close to its record levels when seen against the Euro and the USD while investors eye any possible outcomes on the US debt situation.

JPY

Japanese Yen strength persists. Comments from the Economics Minister saying that FX intervention remians unlikely before 2nd August and he seemed to imply that a remake of the last concerted FX intervention with other major central banks seemed difficult.

CAD

The CAD gains on better than expected US Weekly Jobless numbers.

AUD

The Aussie remained well in support as the US and the EZ debt situation trigerred flows towards those currencies backed by a stronger economy.

NZD

The Kiwi was supported by the the RBNZ hawkish stance late last night. The RBNZ suggested that rate hikes are near.

XAU

The price for gold remained volatile caught between the rising USD and the overall uncertainity over the US debt situation

XAG

Support for silver eased slightly but still close to month's highs at 41.57. the metal has so far traded in the range of 39.90-40.58

EUR

EUR is down against most of its major rivals following comments by German Finance Minister and downbeat money supply data which dampened risk sentiment.

USD

USD fell to a fresh record low versus CHF and new 4-month low against JPY as no progress has been made over US debt talks to avert a downgrade and default. Recovered versus EUR after hitting new 3-week low earlier.

GBP

Initially supported versus USD, holding near a 6-week high, supported by US debt woes which weighed on the greenback. It pared its gains as risk sentiment dropped and after data showed CBI trends dropped more than expected.

CHF

Was up to a new record high versus the USD on growing concern over US debt and an overall soft risk sentiment. KOF indicator fell more than expected but impact on CHF was limited.

JPY

Hit a new 4-month high versus the USD, also benefitting from concerns over US debt. Forex traders are growing extremely nervous as it edges lower versus the USD, as they anticipate an intervention by authorities to weaken the JPY.

AUD

Lifted by better than expected headline CPI figures. Up across the board, and hit a new 29-year peak versus the USD at 1.1081

NZD

Also lifted by higher commodity prices. Forex investors also expect a hawkish rate review by the RBNZ which supported the NZD.

XAU

Hit a new all-time high at $1'625.68. Supported by a deadlock on talks over a US budget deal.

CAD

Benefitted from a general support for commodity-linked bloc. Hovering close to multi-year highs versus USD.

XAG

Traded in a range between 41.22 - 40.71.

EUR

EUR is slightly higher versus the USD mainly due to USD weakness over failure to reach a budget deal. It is down versus CHF and JPY after Moody's cut Greece's sovereign rating by three notches to Ca, taking it one notch above the lowest possible

USD

USD fell to a record low versus CHF and 4-month low against JPY. The USD is under pressure government has yet to reach a deal to raise the US debt ceiling before August 2nd deadline

GBP

GBP is also under pressure versus the CHF, as forex investors have cut exposure to higher yielding currencies

CHF

CHF is extremely bid to start the week. It hit a new record high versus the USD and also rose sharply versus the EUR. It is favored by a drop in risk appetite over uncertainty surrounding the resolution of the euro zone debt crisis and failied negotiation

JPY

JPY is also favored by heightened risk aversion. It is up to a 4-month high versus the USD, but also down sharply against the CHF

CAD

CAD recovered previous day's losses verus other majors but down against the CHF

AUD

AUD is down slightly against the EUR and USD, but dropped sharply lower versus CHF

NZD

Also hurt by increased risk aversion versus 'safe-haven' currencies such as the CHF and JPY

XAU

Spot XAU/USD is up to a fresh all-time high at $1'623.75, lifted by its safe-haven status as investors are increasingly concerned about the possible default by the US

XAG

Opened almost $2 higher than Friday's close but has so far pared gains. It opened at $41.57 but currently trading at $40.50

EUR

EUR hovered close to its 2-week peak hit yesterday versus the USD and continued climbing higher versus the CHF after euro zone leaders agreed a 2nd financial aid package for Greece and took measures to contain contagion of the debt crisis

USD

Pressure is expected to shift towards the USD as no progress has been seen so far in talks over raising the US debt ceiling. USD trading close to its 2-week low versus the EUR, after losing over 200 pips yesterday. It is up so far today against the CHF a

GBP

GBP consolidated close to a 5-week high against the USD favored by better risk appetite after a deal was reached in yesterday's EU emergency summit

CHF

CHF is down across the board, hurt by a boost to risk appetite which is favored riskier currencies. Easing of tensions over the euro zone debt crisis could lead to further losses for the CHF

JPY

The JPY eased on Friday, hurt by forex investors favoring riskier currencies and from comments by Finance Minister Noda who warned markets against pushing the yen up too far, repeating that he is watching moves on the currency market very carefully

CAD

CAD is under pressure on Friday after data showed inflation eased in June

AUD

AUD is well bid on Friday. It hit a fresh 2-month high versus the USD. The AUD is being pushed higher as fores investors are favoring higher-yielding currencies

NZD

NZD continues to surge higher lifted by better risk appetite. The kiwi hit a fresh 30-year peak versus the USD

XAU

Recovered slightly from yesterday's sharp decline as investors favored riskier assets. It remains close to its all-time peak

XAG

Also up slightly after yesterday's sell-off

EUR

EUR plunges on comments by Eurogroup President Juncker who said a selective default of Greece was possible. Data from euro zone showed Flash PMIs came in lower than expected in July. The EUR is expected to remain choppy until news starts flowing from an

USD

USD found support mainly on EUR weakness and softer risk sentiment ahead of an emergency European leaders' summit. USD was initially under pressure on uncertainty surrounding the US debt ceiling and a possible downgrade of its credit rating as the Au

GBP

GBP was lifted versus the EUR, CHF and AUD as it found support after better than expected retail sales data. It remained relatively flat versus the USD as worries about Greece possibly facing a selective default hurt riskier currencies.

CHF

CHF fell across the board but remained relatively flat versus the EUR. Sluggish ZEW investor sentiment data weighed on the CHF. It was already under pressure from news of the France-Germany agreement on Greece.

JPY

Initially JPY was soft as a rise risk appetite favored higher-yielding currencies, but comments from Juncker dampened risk sentiment which gave back some support to the JPY

CAD

Canadian dollar remained in support losing only to the GBP and the kiwi. Yesterday Canada reported stronger than expected Wholesale trade for the month of May, actual figures came out at 1.9 against the expected 0.1. The BoC released its Monetary policy r

AUD

AUD fell after data showed weak Chinese industrial activity. Softer risk sentiment flowing from the euro zone debt crisis also weighed on the AUD and higher-yielding currencies in general

NZD

The Kiwi showed resilience after it reached fresh highs at 0.8589 against the USD. The kiwi is being buoyed by expectations that the RBNZ will start increasing rates to harness increasing inflationary pressures

XAU

Gold is attracting support again ahead of the Euro Zone event risk today and the uncconclusive US debt ceiling talks. Despite it re-embraced $1600 levels it failed to push higher and has so far traded in the range of $1596.50-$1604.80

XAG

Silver eased lower trading significantly lower than its April highs at $49.81. So far today the metal has traded in the range of $39.35-$40.36.