Jan 5, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

UK December construction PMI disappointing

Posted:

UK December construction PMI has come in at 47.1, fractionally higher than 47.0 in November, but below the median market forecast of 47.8.

Fitch: Expects Japan’s debt-to-GDP ratio to rise over next couple of years

Posted:

But Japan's credit risk being offset by strong external balance. USD/JPY  at 91.95 presently,  having stood at 91.85 some 4 hours ago, so not much happening there. Buy orders seen at 91.50/60, sell orders at 92.30.

German December s.a. jobless -3k

Posted:

German December seasonally adjusted jobless total has come in at -3k, better than median forecast of +5k. Unemployment rate steady at 8.1%, as expected.  Total jobless now 3.421 mln. EUR/USD sits at 1.4415.  Technical support next at 1.4400/05. Talk of stops just below 1.4400. Russia and real money accounts said to have ...

EUR/USD gives back early gains and a bit more

Posted:

EUR/USD having been as high as 1.4483 is presently all the way back down at 1.4415.  Support next at 1.4400/05. Elsewhere stops have been triggered through 1.6050 in cable. We've been as low as 1.6029 so far, presently at 1.6035. EUR/GBP has advanced to .8990 in wake of US investment bank ...

EUR/GBP firmer, weighs on GBP/USD. US investment bank recommendation noted

Posted:

EUR/GBP is trading firmer this morning, presently at .8977 from early .8957.  There is talk of a US investment bank recommending a long possie in the cross, target .9150, stop .8850. The bid cross will obviously be weighing on cable.

Cable does abrupt about turn

Posted:

Cable having been up to test 1.6150/55 resistance has come under heavy pressure, the sell-off accelerating when stops tripped through 1.6100. We're presently at 1.6075. Supports now seen at 1.6060/65 and quickly at 1.6050, with stops seen on move through 1.6050.

S.Korea fx authorities bought estimated $2 bln plus to stem won’s strength Tuesday- Traders

Posted:

Chunky.

French consumer confidence disappointing

Posted:

French December consumer confidence falls to -31 from unrevised -30 in November, worse than the expected -29.

Kraft ups cash part of Cadbury bid

Posted:

Kraft has announced it is raising the cash portion of its hostile takeover offer for Cadbury by 60 pence per share, funded by a deal to sell its North American pizza unit to Nestle. Meanwhile Nestle says it has no intention of bidding for Cadbury.

French EconMin Lagarde: Unemployment will continue in 2010 despite better growth prospects

Posted:

But job destruction should ease in second half of 2010.

ECB’s Bini Smaghi: Removal of rigid fx policies in Asia, particularly China, would benefit all

Posted:

The official adds that the domestic case for appreciation of the yuan has become harder to argue post crisis.

Frozen Britain may run short of gas

Posted:

The freezing weather has raised fears that Britain could run short of gas after the National Grid issued only its second warning ever over surging consumption.  Deep joy!!

Cable trading firmer early

Posted:

Cable has ticked higher in early European trade against the backdrop of general USD weakness, presently at 1.6145. Only one piece of UK data of note this morning: 09:30 GMT: UK construction PMI for December expected 47.8 from 47.0. Resistances now 1.6150/55 and 1.6190/00.

Greece faces intrusive EU surveillance amid reports of a burgeoning deficit

Posted:

Greece is bracing itself for the most intrusive surveillance of any eurozone state since the launch of the single currency, amid reports that the country's budget deficit is spiralling further out of control.

EUR/USD opens firmer

Posted:

EUR/USD sits at 1.4455, firmer from a North American close Monday down around 1.4410.  The New Year has seen the reflation trade reignited and this a weighing on the greenback.  Overnight, Asian stocks performed well with oil tagging on another 25 cents or so. South Korea has once again been buying ...

Asian Forex Wrap – USDJPY retreats

Posted:

Krugman sees 30-40% chance of recession in H2 2010. Australia new home sales up 0.3% in November. CFTC: Dollar spec positions incresed to $4.76 bln. China official says Yuan to face new round of appreciation. Nikkei rises to 15 month highs, up 0.8%, ASX200 up 1%, Kospi flat. Gold higher at 1123.50. USDKRW hits multi month lows. Yen ...

USDJPY takes out 91.90, stops triggered

Posted:

USDJPY has continued to fall here this afternoon, back to test the bids at 91.90. Unfortunately the bids are no match for the amounts being sold, with some stops triggered beneath. Next level 91.50. EUR, AUD, and GBP are seeing some upside on the back of a lower dollar but are ...

China official says Yuan to face new round of appreciation pressure

Posted:

ReutersNews: A Chinese NDRC official has just come out saying that the Yuan is to face a new round of appreciation pressures, which may lead to hot money inflows. Such inflows would create difficulties for liquidity mangement. He goes on to say that China will encourage overseas investment to secure ...

Australia new home sales up 0.3% in November

Posted:

Sales of new homes in Australia rose slightly, up 0.3% in November. That follows a 6% drop in October.

USDJPY testing yesterday’s low

Posted:

Seeing Yen crosses sold off across the board as USDJPY peels back to the 92.00 area. Buyers parked just beneath at 91.90, under that and its its back to 91.50. Yen cross selling has been prominent all day keeping AUD and EUR in very tight trading ranges.

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