Germany CPI is ahead, always supportive for the euro, but the G-8 finance ministers summit, which is scheduled this weekend, makes it difficult to comfortably selling dollar; Inflation is the main concern and it is likely to be some comments in favor of a stronger dollar. US CPI is also scheduled tomorrow.
Inflation fear can negatively affect sentiment in global stock markets, and this is what I have no doubt about it. Generally it is in favor of Yen and Swiss frank, the two main sources of carry trading.
June 12, 2008
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