The world's largest restaurant company McDonald's Corporation posted a $1.19B second-quarter profit on strong European fast-food sales.

The largest U.S. savings and loan Washington Mutual Inc which is suffering from the after-effects of the housing crisis, late Tuesday reported a $3.3B net loss for the second quarter, far worse than Wall Street expected.

The Web portal Yahoo! Inc reported second-quarter results that missed analysts' expectations as it struggled with dwindling market share and softening economic conditions.

Japan's largest insurer, Tokyo Marine, said it would purchase the commercial property and casualty insurer Philadelphia Consolidate for $4.7B.

Crude oil quickly dropped to a fresh session low, falling 3.0% to $124.50 in volatile trade. There was no clear catalyst for the sell-off. The stock market catches a modest bid on the decline, but remains well off its best level. The energy sector is on the retreat, now down 2.8%.

"Pace of econ activity slowed somewhat since the last report"; 5 Eastern Dists noted weakening, Chi said it was sluggish, and KC said it moderated. Consumer was sluggish, mfg declined though exports remained high. There was further credit tightening and mixed demand in services. Price pressures were elevated or increasing due to imports, esp oil. Wage pressures are limited. Most dists said labor mkts were unch to slightly weaker. Book was compiled by KC Fed based on data gathered on/before July 14. May's book said "economic activity remained generally weak" so the latest represents a worsening.

"The housing bubble, the credit crunch are the main cause of today's problems. A $126 oil price does not take this away as mortgage rates hit their highest levels in five years."

Buyers halt the markets recent retreat, with the S&P 500 holding with a modest gain. The telecom sector is surging 4.2%, thanks to strength in AT&T (+1.69) -- the S&P 500's best-performing name this session.
The tech sector is outperforming with a gain of 0.9%.
EMC Corp (+1.33) is up 11% due to its better-than-expected second quarter results. The gains come despite a plunge in shares of EMC's 86% holding VMware (-2.72), which reported disappointing earnings.

The dollar rose to a four-week high against the yen and advanced versus the euro as a U.S. government rescue of Fannie Mae and Freddie Mac moved closer to congressional passage and oil prices fell.
The currency also gained as signs of stability in the financial industry fueled bets that the Federal Reserve will raise interest rates in September. The yen touched a record low against the euro as reduced currency and stock volatility encouraged investors to add to holdings of higher-yielding assets funded in Japan.
``The government's backstop for Fannie and Freddie is containing systemic risk,'' said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York. ``It created a blue sky for the financial markets and gave a boost to the dollar.''
Futures traded on the Chicago Board of Trade showed a 55 percent chance the Fed will increase its 2 percent target rate for overnight lending between banks by at least a quarter- percentage point by Sept. 16, up from 49 percent odds yesterday. Policy makers next meet Aug. 5.
The euro extended its decline versus the dollar as a report showed industrial orders in the euro region fell in May more than twice as much as forecast. Orders dropped 3.5 percent from April, the European Union statistics office in Luxembourg said today, compared with a 1.3 percent decline predicted by economists.
Crude oil for September delivery fell for a second day, declining 1.4 percent to $126.18 a barrel. It has dropped 15 percent from a record $147.27 a barrel reached July 11. The euro-dollar exchange rate and oil have moved in the same direction 90 percent of the time during the past year, according to Bloomberg calculations based on the correlation of their value changes.

The Dow falls back into negative territory as crude prices recover to the unchanged mark (-0.1% at $128.20). Prices were down as much as 2.4% in earlier trade.
The energy and materials sectors trade near their session highs, while the remaining eight sectors dip.

Wall Street rallies as oil prices slide and the expectation that the House will pass a housing relief bill overshadows a slew of mixed quarterly financial reports.
The 30-stock Dow Jones industrial average was up 0.4%. The tech-heavy Nasdaq composite gained 1.3% and the broader Standard & Poor's 500 index advanced 0.7%.
Oil prices continued their decline Wednesday, sinking below $127 a barrel as a hurricane headed for the Texas Gulf coast appeared unlikely to cause much disruption to offshore production.
The House was expected to vote on the bill Wednesday, and it could become law as early as this week. The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
Washington Mutual reported a $3.3 billion quarterly loss late Tuesday, far worse than Wall Street was anticipating, as it set aside more money for bad loans. Yet, the company offered signs of encouragement as delinquencies in its troubled subprime and home equity portfolios showed "early signs of stabilization."
Northwest Airlines reported a net loss for the second quarter, blaming the rising price of jet fuel for sending it into the red.
Costco warned Wednesday that its fiscal fourth quarter earnings will fall well below the $1-a-share Thomson Financial analyst consensus estimate, as the warehouse club operator tries to hold prices steady even as energy-related costs surge.

The stock market extends its gains in mostly broad-based buying interest, and holds its gain after a government report showed a drop in crude inventory levels. Specifically, crude stockpiles fell 1.6 million barrels, which is larger than the expected decrease of 675,000 barrels. Just prior to the report, crude prices were trading down 1.5% to $126.41 per barrel.
The Dow climbs into positive territory, but is underperforming the S&P 500. Investors are disappointed with Boeing's (-3.11) 14% year-over-year decrease in quarterly earnings per share. Helping to offset these losses, Dow component General Motors (+1.11) is enjoying some buying interest thanks to a solid 10% rise in sales outside the United States. GM still faces challenges though, as total sales were down 5%, after North American sales fell 20%. AT&T (+0.70) is up 2% after reporting a 30% increase in profit, which matched Wall Street's forecast.
The defensive oriented utilities sector (-2.1%) is a laggard this session, despite Chicago-based Exelon (-3.14) reporting higher-than-expected earnings. Some of the selling interest is due to the increased attractiveness of Treasuries, with the 10-year note yield climbing to 4.2%, compared to the utilities sector's yield of 3.3%.

The technical outlook for major European equity bourses continues to improve and scope for further recovery in the medium-term. On the CAC-40, the island reversal or abandoned baby candlestick pattern has been followed by another gap higher, and implies risk on further gains to 4,572 -- the 50.0% of May to July decline. On the Xetra-DAX, a potential inverse head-&-shoulders pattern is noted, where neckline comes in at 6,560 and break targets a measured move to 7,061. The 50.0% of the May to July decline comes in at 6,615. FTSE-100 has broken its May downtrend, with price action above the key 21-day moving average, which has capped topside since late May. The 50% of the May to July decline comes in at 5,724.

At 295.3 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 2.9 million barrels last week, and are just above the upper boundary of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. Distillate fuel inventories increased by 2.4 million barrels, and are in the upper half of the average range for this time of year. Propane/propylene inventories increased by 0.3 million barrels last week but remain below the lower limit of the average range. Total commercial petroleum inventories increased by 1.9 million barrels last week,and are in the lower half of the average range for this time of year.

Attention now turns to US weekly DoE weekly inventory data at 1435GMT, where oil analysts expect crude oil supplies to show a draw of 675k barrels in the week ended July 18. Gasoline supplies seen up 200k barrels and distillate supplies expected to show a build of 2.5mln barrels. Refinery utilization seen flat. Ahead of the data, WTI crude trades at $126.47, down $1.95 on the session,

After yesterday's late-session rally, the stock market gets off to a flat start. Futures were suggesting a slightly higher start, but buying interest faded as crude oil (-0.6% at $127.68) pared some its losses. The market is digesting a barrage of earnings reports and a warning from a warehouse retailer. Pfizer (PFE 18.85, +0.50), McDonald's (MCD 59.38, -0.74), PepsiCo (PEP 66.32, +0.13), General Dynamics (GD 83.90, +0.52) and WellPoint (WLP 53.21, +4.50) all reported earnings topped Wall Street's forecast, and increased earnings per share versus the prior year.
There were some earnings misses as well. Washington Mutual (WM 5.80, -0.03), Yahoo! (YHOO 21.61, +0.21) and E*Trade (ETFC 3.60, -0.45) fell short of estimates. On another negative note, Costco (COST 62.49, -9.51) warned that its latest earnings per share for its latest quarter will fall "well below" the current consensus estimate of $1.00. Costco cited increased inflation, especially energy costs, and a larger-than-expected LIFO accounting charge.

Crude oil prices recover from session low at $125.37 following wire headline that Nigerian militant group says its plans to destroy
major oil pipelines in the Niger Delta in next 30-days. WTI Nymex crude oil is now at $126.93.

Dow and Nasdaq futures holding solid gains as the US session moves along, Dow futures up about 51 points and Nasdaq futures up about 12 after both posted solid gains yesterday.
Traders digest a large number of earnings reports. Retailer Target (TGT) was downgraded to Neutral from Outperform at Credit Suisse . The firm cited the continued deterioration of Target's credit business. US Bancorp (USB) was downgraded to Neutral from Buy at Goldman Sachs, according to Dow Jones.
Oil prices continued their decline Wednesday, sinking below $127 a barrel in electronic trading as a hurricane headed for the Texas Gulf coast appeared unlikely to cause much disruption to offshore production.
Also contributing to the decline was the expectation that gasoline supplies rose last week as consumers cut back use due to the recent high prices. The government was scheduled to issue its weekly inventory report at 1435GMT.
Housing: A bill aimed at easing the recent housing market crisis was expected to reach the House floor Wednesday, with the possibility that President Bush could sign it into law this week.
Washington Mutual, one of the banking companies suffering from the after-effects of the housing crisis, late Tuesday reported a $3.3 billion net loss for the second quarter, far worse than Wall Street expected. (full story)
Warehouse club store operator Costco Wholesale said its fiscal fourth-quarter and full-year profits would be "well below" Wall Street estimates due to high fuel costs, and added that it would expand a stock repurchasing program.
Web portal Yahoo reported second-quarter results that missed analysts' expectations as it struggled with dwindling market share and softening economic conditions.

WTI Nymex crude oil trades at lowest level since June 5.

The dollar rose to a four-week high against the yen after Treasury Secretary Henry Paulson voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised.
The greenback also climbed to two-week highs versus the euro and the Swiss franc as Paulson said he expects Congress to approve a rescue plan for Fannie Mae and Freddie Mac, the two biggest U.S. mortgage-finance companies. The yen fell to a record low against the euro as stocks climbed, encouraging investors to add to holdings of higher-yielding assets funded in the Japanese currency.
``The view that the worst of the uncertainty and bad news may be behind us has reinvigorated risk appetite,'' said Derek Halpenny, head of currency research in London at Bank of Tokyo- Mitsubishi. ``We're on the last leg of the dollar bear market.''

Futures traded on the Chicago Board of Trade showed yesterday a 49% chance the Fed will increase its 2% target rate for overnight lending between banks by at least a quarter-percentage point by Sept. 16, up from 23% odds a week earlier. Policy makers next meet Aug. 5.

EUR/USD failed to break above $1.5800 before sliding to $1.5715. Bids $1.5720/10, $1.5680, offers $1.5750.

GBP/USDThe 7-1-1 BOE MPC split gave rate a boost, taking it from $1.9915 to $1.9950. After CBI demand bounced it above $2.0020.

USD/JPY rose from Y107.15 to Y107.90. Offers Y107.90/00, Y108.40/60, bids Y107.50.

There are no key economic data from US today, except weekly crude oil inventories at 14:35 GMT and Beige Book at 18:00 GMT.

NZRB will announce its rate decision at 21:00 GMT with rate currently at 8.25%.

- Don't see Germany recession but marked slowdown

Sentiment underpinned by weaker crude oil price below $126.00 level. Financials are leading the charge higher on bargain-hunting, with HBOS higher on unconfirmed market talk that Spains Banco Bilbao Vizcaya Argentaria (BBVA) is looking to buy UK HBOS. Vodafone is another notable ainer after it announced a surprise Stg1bn share buyback and KPN rose after raising its outlook for the full-year on the back of better-than-expected Q2 earnings. European car makers are also higher after better than expected earning results from Volkswagen, Peugeot, Fiat and Volvo. CAC-40 is up 61pts, Xetra-DAX is up 70pts, FTSE-100 is up 76pts.

The dollar rose to a four-week high against the yen after Treasury Secretary Henry Paulson voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised.
The greenback also climbed to two-week highs versus the euro and the Swiss franc as Paulson said he expects Congress to approve a rescue plan for Fannie Mae and Freddie Mac, the two biggest U.S. mortgage-finance companies. The yen fell to a record low against the euro as stocks climbed, encouraging investors to add to holdings of higher-yielding assets funded in the Japanese currency.
``The view that the worst of the uncertainty and bad news may be behind us has reinvigorated risk appetite,'' said Derek Halpenny, head of currency research in London at Bank of Tokyo- Mitsubishi. ``We're on the last leg of the dollar bear market.''

CBI react dip to $1.9925/20 area quickly attracted fresh demand, with rate able to lift through the earlier rally high at $1.9954 and on to $1.9965. A break here to open a move on toward $1.9980/85 ahead of $2.0000/10.

Resistance 3: Y109.00
Resistance 2: Y108.50
Resistance 1: Y107.80

Current price: Y107.74
Support 1: Y106.70

Support 2: Y106.00
Support 3: Y105.50

Comments: Dollar holds higher with minor resistance is around Y107.80. Further rise may bring the rate to Y108.50 and Y109.00. Strong support comes at 50% Fibo level on Y106.70. Then the decline may extend to Tuesday’s low on Y106.00/05.

Resistance 3: Chf1.0420Resistance 2: Chf1.0380
Resistance 1: Chf1.0340
Current price: Chf1.0343
Support 1: Chf1.0240
Support 2: Chf1.0180
Support 3: Chf1.0140

Comments: Dollar trades near yesterday’s highs around Chf1.0340, with a break above will target Chf1.0380 and then - Chf1.0420. Strong support comes at 50% Fibo of yesterday’s rally on Chf1.0240. Below correction may extend to Chf1.0180 and stronger support on Chf1.0140 (Tuesday’s low).

--UK CBI Industrial Trends: Jul Avg Expected Prices +34% Vs +28% Jun
--UK CBI July Export Orders -7% Vs -5% June
--UK CBI July Expected Output Volume -7% Vs +2% June
--UK CBI July Quarterly Business Optimism -40% Vs -23% April
--UK CBI July Quarterly Average Prices +27% Vs +21% April

Resistance 3: $2.0130

Resistance 2: $2.0070

Resistance 1: $1.9980
Current price: $1.9935
Support 1: $1.9900
Support 2: $1.9840

Support 3: $1.9800

Comments: Despite yesterday’s sell-off, techs on sterling hasn’t changed. Resistance comes at 50% Fibo level on $1.9980 with a break above will target $2.0070 (Jul 17 high). Stronger level comes at $2.0130 (Jul 15 high). Support is around yesterday’s lows on $1.9900. Below correction may extend to $1.9840 and $1.9800/10.

Resistance 3:$1.5940
Resistance 2: $1.5850
Resistance 1: $1.5800
Current price: $1.5741
Support 1: $1.5720
Support 2: $1.5680
Support 3: $1.5610

Comments: Euro piersed strong support around Tuesday’s low on $1.5750. Below session's low $1.5720 rate may dip to $1.5680 with stronger support is around Jul 07 low on $1.5600/10. Minor resistance is around session high on $1.5800 with a break above will point to 50% Fibo level of yesterday’s fall at $1.5850, then – Tuesday’s high on $1.5940.

EUR/USD: $1.5700, $1.5550
USD/JPY: Y107.45, Y106.75/70, Y106.45, Y105.80
EUR/JPY: Y168.50
Kiwi: $0.7500

GBP/USD spikes to session high on $1.9946 amid MPC minutes with 7-1-1 split. One MPC member (Besley) voting for a hike. Reported offers placed ahead of $1.9950, while bids remain in place on approach to $1.9900.

BOE MPC voted 7-2 to keep rates unchanged at July meeting. MPC's Blanchflower voted for 25bps rate cut in July, while MPC's Besely voted for 25bps rate hike in July. Most MPC members said rate hike may not be needed. All BOE MPC agreed rate decision was a difficult one. This was the first three way split since May 2006.

EUR
Bids: $1.5750, $1.5720/10
Offers: $1.5800/10, $1.5830, $1.5850

JPY
Bids: Y107.15/10, Y106.50/40, Y106.10/00
Offers: Y107.70/75

GBP
Bids: $1.9890, $1.9810/1.9795, $1.9855/45, $1.9780/70
Offers: $1.9950, $1.9980/85, $2.0000/10

The dollar rose to a two-week high against the yen after Treasury Secretary Henry Paulson voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised.
The greenback traded near a two-week high versus the euro as Paulson said he expects Congress to approve a rescue plan for Fannie Mae and Freddie Mac.
The U.S. currency strengthened yesterday as Paulson said he's confident that lawmakers will pass a bill to provide funding for Fannie Mae and Freddie Mac, the largest sources of U.S. mortgage financing. He reiterated that a strong dollar is ``really very important.''
Futures traded on the Chicago Board of Trade showed yesterday a 49% chance the Fed will increase its 2% target rate for overnight lending between banks by at least a quarter-percentage point by Sept. 16, up from 23% odds a week earlier. Policy makers next meet Aug. 5.

EUR/USD failed to break above $1.5800 before sliding to $1.5740.
GBP/USD consolidated within the $1.9900/40 range.
USD/JPY rose from Y107.15 to Y107.80.

In Europe main attention will be on MPC minutes.

At 11:00 GMT Canada will release its inflation data.

There are no key economic data from US today, except weekly crude oil inventories at 14:35 GMT and Beige Book at 18:00 GMT.

NZRB will announce its rate decision at 21:00 GMT with rate currently at 8.25%.

Japan's benchmark stock indices ended the day higher, but shy of the session's best levels. The Nikkei 225 was higher by 127.97 points, or 0.97%, to stand at 13312.93. The broader-based TOPIX gained 15.61 points to stand at 1303.35.

Stock market fixing:
Nikkei 225 +381.26 (+3%) 13,184.96
Topix + 35.31 (+2.8%) 1,287.74
DAX 30 +17.95 (+0.3%) 6442.79
САС 40 +0.12 (+0.0%) 4327.26
FTSE 100 -40.20 (-0.7%) 5364.10
Dow +135.16 (+1.18%) 11602.50
Nasdaq +24.43 (+1.07%) 2303.96
S&P +17.00 (+1.35%) 1277.00
10YR -15/32 4.1% 98 4/32

Japan's stocks rose, sending the Topix index to its sharpest gain in more than three months, amid confidence earnings will weather a global economic slowdown.
Itochu Corp. soared the most in four years after oil prices gained yesterday for the first time in five days. Honda Motor Co. rose the most in seven weeks as Lehman Brothers Holdings Inc. lifted its target price. Urban Corp. tumbled to a four-year low after rival developer Zephyr Co. filed for bankruptcy protection. Shares extended gains in the afternoon after a trading halt on futures was lifted.
Itochu soared 8.6%, the biggest gain since May 2004. AOC Holdings Inc., which has stakes in South China Sea and North Sea oil fields, surged 11%. Inpex Holdings Inc. added 2.2%.
Honda leapt 5.3%, the sharpest advance since June 4. Tsuyoshi Mochimaru, an analyst at Lehman, lifted his 12-month price estimate on Honda by 8.4%. Suzuki Motor Corp. rose 4.7%.

European stocks fell for the first time in five days, led by telephone and technology companies, after Vodafone Group Plc reduced revenue forecasts and Ericsson AB posted lower profits.
Vodafone tumbled 14% after the economic slowdown hurt sales prospects. Ericsson sank the most in nine months, while STMicroelectronics NV slipped as Texas Instruments Inc.'s profit forecast missed estimates. Dexia SA led banks lower after Moody's Investors Service said the company's U.S. bond-insurance unit may lose its top credit rating.
Vodafone dropped 14%. The company scaled back its sales forecast after slowing economic growth hurt revenue from phone calls. Full-year sales are now predicted to be ``around the bottom'' of the targeted 39.8 billion pounds ($79.7 billion) to 40.7 billion pounds outlook range.''
Telefonica SA tumbled 5.6%.
Ericsson sank 11%. Second-quarter profit fell 70 percent to 1.9 billion kronor ($320 million). Analysts had estimated profit of 2.82 billion kronor and revenue of 48.1 billion kronor.
STMicroelectronics fell 6.2%. Infineon retreated 7.5%.

Stocks closed higher despite morning losses amid oil price drop.
Investors listened to Treasury Secretary Henry Paulson urge Congress to pass a bill to support mortgage giants Fannie Mae and Freddie Mac. Also, the Philadelphia Federal Reserve chief Charles Plosser said Tuesday that inflation concerns may warrant a hike in the key federal funds rate, despite the economic slowdown.

In the news Tuesday: Wachovia Corp. posted a loss of nearly $9 billion for its second quarter Tuesday on losses related to home mortgages. The shortfall exceeded the estimates of Wall Street analysts.
US Airways missed second quarter revenue projections, just barely, but reported a smaller loss than expected. The carrier reported a net loss of $101 million for the second quarter, or $1.11 per share.
United Airlines reported Tuesday a net loss of $2.7 billion for the second quarter.
UPS Inc. said Tuesday its profit fell nearly 21% in the second quarter despite a 6.7% increase in sales. The company also lowered its outlook for the year amid a slumping U.S. economy.
American Expressdelivered some ugly news after the market closed Monday, posting a smaller-than-expected second-quarter profit and withdrawing its 2008 earnings guidance.

The dollar rose the most against the euro in more than two weeks Tuesday as Treasury Secretary Henry Paulson voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised.
The U.S. currency strengthened as Paulson said in a speech that he's ``confident'' that lawmakers will pass the bill to ``boost confidence'' in Fannie Mae and Freddie Mac, the largest sources of U.S. mortgage financing. He reiterated that a strong dollar is ``really very important.''
The dollar touched the record low earlier this month on concern Fannie and Freddie, which own or guarantee almost half of the $12 trillion in U.S. home loans outstanding, may fail to survive the housing slump.
Philadelphia Fed President Charles Plosser said, that the U.S. central bank should raise interest rates ``sooner rather than later.''

EUR/USD printed high on $1.5940 before sliding down to session lows on $1.5750, triggering some bids and stops.
GBP/USD followed euro and fell from $2.0075 to $1.9895, triggering stops on $2.0000, $1.9950 and $1.9900.
USD/JPY rose from Y106.05 to Y107.40.

In Europe main attention will be on MPC minutes.

At 11:00 GMT Canada will release its inflation data.

There are no key economic data from US today, except weekly crude oil inventories at 14:35 GMT and Beige Book at 18:00 GMT.

NZRB will announce its rate decision at 21:00 GMT with rate currently at 8.25%.

Resistance 3: Y109.00
Resistance 2: Y108.50
Resistance 1: Y107.80
Current price: Y107.64
Support 1: Y106.70
Support 2: Y106.00
Support 3: Y105.50
Comments: Dollar holds higher with minor resistance is around Y107.80. Further rise may bring the rate to Y108.50 and Y109.00. Strong support comes at 50% Fibo level on Y106.70. Then the decline may extend to Tuesday’s low on Y106.00/05.

Resistance 3: Chf1.0420
Resistance 2: Chf1.0380
Resistance 1: Chf1.0340
Current price: Chf1.0303
Support 1: Chf1.0240
Support 2: Chf1.0180
Support 3: Chf1.0140
Comments: Dollar consolidates near yesterday’s highs around Chf1.0340, with a break above will target Chf1.0380 and then - Chf1.0420. Strong support comes at 50% Fibo of yesterday’s rally on Chf1.0240. Below correction may extend to Chf1.0180 and stronger support on Chf1.0140 (Tuesday’s low).

Resistance 3: $2.0130
Resistance 2: $2.0070
Resistance 1: $1.9980
Current price: $1.9923
Support 1: $1.9900
Support 2: $1.9840
Support 3: $1.9800
Comments: Despite yesterday’s sell-off, techs on sterling hasn’t changed. Resistance comes at 50% Fibo level on $1.9980 with a break above will target $2.0070 (Jul 17 high). Stronger level comes at $2.0130 (Jul 15 high). Support is around yesterday’s lows on $1.9900. Below correction may extend to $1.9840 and $1.9800/10.

Resistance 3:$1.5940
Resistance 2: $1.5850
Resistance 1: $1.5800
Current price: $1.5791
Support 1: $1.5750
Support 2: $1.5680
Support 3: $1.5610
Comments: Euro holds within the range after yesterday’s sell-off. Strong support is around Tuesday’s low on $1.5750. Below rate may dip to $1.5680 with stronger support is around Jul 07 low on $1.5600/10. Minor resistance is around session high on $1.5800 with a break above will point to 50% Fibo level of yesterday’s fall at $1.5850, then – Tuesday’s high on $1.5940.

High Low Close
EUR/USD 1.5944 1.5753 1.5785
USD/JPY 107.43 106.05 107.29
GBP/USD 2.0075 1.9896 1.9912
USD/CHF 1.0334 1.0136 1.0301

EUR/JPY 169.70 169.01 169.38
EUR/GBP 0.7958 0.7911 0.7926
GBP/JPY 213.83 212.82 213.63
GBP/CHF 2.0567 2.0334 2.0511

Change % Change Last
Nikkei 225 +381.26 (+3%) 13,184.96
Topix + 35.31 (+2.8%) 1,287.74
DAX 30 +17.95 (+0.3%) 6442.79
САС 40 +0.12 (+0.0%) 4327.26
FTSE 100 -40.20 (-0.7%) 5364.10
Dow +135.16 (+1.18%) 11602.50
Nasdaq +24.43 (+1.07%) 2303.96
S&P +17.00 (+1.35%) 1277.00
10YR -15/32 4.1% 98 4/32

06:45 France Consumer spending (June) -0.5% 2.0%
06:45 France Consumer spending (June) Y/Y 1.4% 3.1%
08:00 Italy Retail sales (May) - 0.0%
08:00 Italy Retail sales (May) Y/Y unadjusted - -2.3%
08:30 UK BoE meeting minutes (09-10.07)
09:00 EU(15) Industrial orders (May) -1.2% 2.5%
09:00 EU(15) Industrial orders (May) Y/Y 1.5% 11.7%
10:00 UK CBI industrial order books balance (July) - +1%
11:00 Canada CPI (June) - 1.0%
11:00 Canada CPI (June) Y/Y - 2.2%
11:00 Canada CPI excluding food and energy (June) - 0.4%
11:00 Canada CPI excluding food and energy (June) Y/Y - 1.2%
18:00 USA Fed Beige book
21:00 New Zealand RBNZ meeting announcement - 8.25%
23:50 Japan Trade balance (June) unadjusted, trln - 0.366