FOREX News and Overnight Technical Levels- June 22nd

[B]Market At A Glance

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[B]Asia - JPY/CNY[/B]

  • Shanghai shares drop over 3 percent in the overnight following emerging concerns that the central bank will raise rates in the very near term

  • Japanese Finance Minister Omi adds to earlier comments by Fukui. Reiterates that policy makers remain focused on currency market fluctuations and support notion that currencies reflect fundamentals.
    [B]Europe - EUR/GBP[/B]

  • April industrial orders for the Eurozone drops 0.4 percent on the month over month figure. Rises 12.2 percent annually, higher than expected.

  • German IFO current assessment survey prints lower than expected. Shows current evaluation rose to 111.4 in the month of June.

  • Germany?s Chancellor Merkel continues to persuade Polish President Kaczynski in dropping veto threat for EU rulebook

  • Swiss National Bank?s Chairman Roth states that economy is thriving with near term outlooks remaining positive.