The month of June ended, and so did the second quarter of the year and the second quantitative easing program, QE2. No QE3 is planned for now. Will this have a long term and positive effect on the US dollar?

Apart from the ongoing mess in Greece, Ben Bernanke took the stage in the past week, and made it clear that QE3 isn’t on the agenda. This may have a long term and positive impact on the dollar.

The action in Greece has also weighed on the price of oil, that has dropped to significantly lower levels. This also aids the dollar. Don’t worry, the action concerning Greece continues through the weekend as well. After a first emergency meeting failed earlier in the week, a new one was set for Sunday. Will this one be more successful?

Yet again, Jean-Claude Trichet sent the euro way down. While he made it clear that a rate hike is coming in July, all the rest of the press conference was negative regarding the global economy, the Greek crisis and the strong dollar.

The past week has also seen disappointing figures from all over the world: Germany has see a slowdown in job improvement, Britain has seen a drop in manufacturing and so did the US, which got many more depressing numbers. Part of the articles analyze this slowdown in the long run. Let’s start:

There are growing signs that Greece is nearing the endgame. But the Euro is still trading in range. When will this explode?

How long can the European leaders delay a default / restructuring for Greece? This questions looms and in the meantime, Spaniards that are fed up with the political system are taking to the streets and more hidden debt is discovered. It will be interesting to see what happens after the regional elections, held their on Sunday. Let’s start with the links:

We’ve seen how the debt crisis in Europe rocks the whole world, but also got some encouraging signs. Europe is growing at a faster pace than expected, with the larger countries leading and the weaker ones weighing on the zone. This provides a lot of volatility.

Jean-Claude Trichet not only hit the euro, but triggered a big fall in commodities.It began with a 10% fall in silver prices earlier in the week, and continued big time as Trichet expressed concern about the dollar and more ease about inflation. The world isn’t growing too fast, and we might have witnessed a big change now.

And if Bernanke wasn’t enough, we got bad figures from the US: the economy is hardly growing and the weekly jobless claims are up, looming over the upcoming Non-Farm Payrolls. Anyway, let’s relax now: