Weekly Review and Outlook: EU Bank Stress Test Passed, Risk Appetite to Continue

Jul 24 2010

Commodity currencies strengthened last week as risk appetites were boosted by solid economic data as well as strong corporate earnings. UK Q2 GDP was particularly impressive while Eurozone PMIs and German Ifo also posted nice upside surprises. Dovish comments from Bernanke's testimony triggered some intra-week selloff in risks but was