Daily Market Review 19 of June

Even though the Greek election ended in favor of those who support the austerity and cuts for the Greek economy, there is still no easing the European monetary system.

Spain debt auction has ended much less successfully than their soccer campaign, with an all time new record of 5.07% yield for a 1 year debt.

In the following week the market will keep a close eye on the feds decision with some expectation for a third monetary easing (QE).

Key Economic indicators to watch today:

12:30 Canada Wholesale starts.

12:30 U.S house starts.

22:45 New Zealand current account


Euro short term support at 1.2615 and 1.244. Resistance is at 1.265 and 1.272. For the longer term we see the latest correction from 1.22 a temporary run with longer term trend is still for stronger $.