Daily Forex Market by FXCC 01Jun2012

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[b]Daily Forex Market by FXCC 01Jun2012

Spain contradicts the ECB, the EU, and the IMF

Equity markets in North America were mixed today with US equities flat while Canadian equities came in moderately positively (+0.72%). The catalyst in Canada was strong bank earnings: Canadian financial companies posted strong earnings over the past week and the sector rebounded accordingly today. Canadian financials were up by 1.55% (banks by 1.9%) while US financials were up by a more modest 0.85% (banks by 1.4%). Oil and Gas stocks held up moderately well in Canada (+0.11%) considering that WTI for delivery in July sold off by 1.4% and is currently trading at US$86.58/bbl.

Europe is clearly taking center stage at the moment, with headline like the FT website