Jan 4, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone January sentix index -3.7

Posted:

Euro zone January sentix index has come in at -3.7, improving from -5.5 in December and the highest level since June 2008.  The median forecast had called for -3.5, so pretty much as expected.

UK December manufacturing PMI stronger than expected

Posted:

UK December manufacturing PMI has come in at 54.1, demonstrably stronger than the median forecast of 52.0 and a 25-month high. Meanwhile, mortgage approvals for November have come in at 60,518, much better than median forecast of 58,000.   Mortgage lending for November +£1.459 bln, better than median forecast +£0.9 bln. Cable has rallied, ...

Cable extends rally

Posted:

Cable has continued higher amidst talk of UK clearer demand for dividend payment purposes.   Resistances now 1.6180 and 1.6195/00.

Euro zone manufacturing PMI unrevised at 51.6

Posted:

Euro zone maunfacturing PMI has come in at 51.6, unrevised from the flash estimate.

German December manufacturing PMI revised down

Posted:

German December manufacturing PMI has come in at 52.7, revised down from flash 53.1, but still fastest growth since May 2008. EUR/USD slowly chewing through aforementioned sell orders up at 1.4330/40, presently at 1.4335.

French December manufacturing PMI revised upward

Posted:

French December manufacturing PMI has come in at 54.7, revised upward from flash 54.4. EUR/USD retains bid tone, presently at 1.4330.

Swiss December PMI weaker than expected

Posted:

Swiss December PMI has come in at 54.6, demonstrably weaker than expected, the median forecast having been 57.0. EUR/CHF sits at 1.4860, up on the day, but slightly off session high 1.4872.

EUR/USD extends rally; sell orders noted

Posted:

EUR/USD has extended its rally, presently at 1.4320.  Talk ACB has continued buying above 1.4300. Resistance now at 1.4330/35. Talk of  sell orders lined up at 1.4330/40.

Cable sees strong rally

Posted:

Cable has bounced strongly back above 1.61, presently at 1.6135. Talk a UK clearer needs to buy a decent amount of cable for dividend purposes. Talk interest could be lined up for 11:00 GMT fix.  Next technical resistance 1.6150.

EUR/USD sees decent bounce

Posted:

EUR/USD has bounced back over 1.4300, presently at 1.4305, with sovereign names seen buying.

EUR/USD under renewed pressure in early European trade

Posted:

EUR/USD is under pressure again in early European trade, presently down at 1.4275, not far from the 1.4258 overnight low. Market seems to already have one eye on the US jobs report due Friday and possibility of more improvement.   Given talk of ACB buying down around 1.4258 its not surprising to ...

EUR/CHF ticks higher

Posted:

EUR/CHF is recovering from 1.4809 overnight low, presently at 1.4835.  As mentioned late last week there is talk of 1.4800 barrier option interest. Some also feel 1.4800 could be the line in the sand the SNB draws, so some caution not overly surprising. The market will be on high alert for signs ...

Cable having opened lower, soft early

Posted:

Cable is down at 1.6080 having closed out last week in North America up around 1.6170. Supports now at 1.6070/75 and 1.6050, resistance up at 1.6150. Data today all comes at 09:30 GMT: UK mortgage approvals for November expected 57.8k Net lending sec on dwelling for November expected +£0.9 bln PMI manufacturing for December expected ...

EUR/USD opens touch easier

Posted:

EUR/USD sits at 1.4300, very marginally easier from around 1.4325 where it closed out last week in North America. The Asian session was pretty active with the EUR/USD pairing coming under fairly heavy pressure, not helped by decent selling of the JPY crosses. However Asian sovereign buying was reported around the 1.4258 ...

Asian Forex Wrap – Yen crosses sold off

Posted:

Krueger says US economy still weak. Gordon Brown says will raise taxes on the rich and halve the deficit in four years. Australian PMI falls to 48.5 in December. Tokyo stock exchange lauches new trading platform, "Arrowhead". Singapore advance Q4 GDP +3.5% YoY, below expectations. Feldstein says US may falter in 2010 because of lack of stimulus funding. China ...

EURJPY sits just above support

Posted:

EURJPY is appoaching the recent support level of 132.40 and needs to hold if we are to resume upwards again. Under 132.40 opens the door for a move lower to 131.20, 38.2% fibo retracement level of the whole move up from 127.35, ending the recent 10 day up run.

China HSBC December PMI 56.1

Posted:

The HSBC purchasing manager index rose to 56.1 in December, up from 55.7 in November and the highest since the survey began in April 2004. Chinese manufacturers raised their prices at the fastest rate in 17 months. Companies said inflationary pressures came from rising raw material prices, in particular steel.  The ...

Feldstein says lack of 2010 stimulus is a negative

Posted:

Harvard University Economics Professor, Martin Feldstein said the US econimic growth may falter because of a lack of stimulus seen for the year ahead. He said he sees difficulties in a robust recovery with the real estate market depressed.

AUD looks ready to retest 8930 support

Posted:

The earlier bought of AUDJPY selling coupled with model funds buying USD has sent the AUD falling back to re-test the support at 8930. There were scattered buyers all the way down some of who raised their level from the 8930 level. Not sure there is the same sort of ...

JAL stock soars 33%

Posted:

JAL shares have been lifted by speculation that the state owned Development Bank would double its credit line for the struggling Airliner to$ 2.2 bln. A spokesperson for the bank said the government had asked it to double its credit line to JAL and is considering it. The Nikkei is ...
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