Jan 6, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone November producer prices +0.1% m/m, -4.4% y/y

Posted:

Euro zone November producer prices have come in at +0.1% m/m, -4.4% y/y, compared to median forecasts of +0.2%, -4.5% respectively. Industrial new orders for October -2.2% m/m, -14.5% y/y,  weaker than median forecasts of -1.1%, -11.6% respectively.

EUR/USD extends rally further

Posted:

EUR/USD is at 1.4365. Swiss name notable buyer from around 1.4340. Obviously next barrier of any note will be the 1.4371 overnight high. At writing Fitch is on the wires saying that central/eastern european banking systems remain sensitive to event risk. EDIT: Resistances 1.4385 and 1.4400/05. Stops seen through 1.4385.

UK December services PMI 56.8

Posted:

UK December services PMI has come in at 56.8, better than median forecast of 56.6.  It has to be said we were looking at 57.0.  There had been some market scuttlebutt of a bad number just ahead of the release, so I guess they'll be relief. Cable sits at 1.6040.

China CBank: To maintain basically stable yuan

Posted:

Shock horror. Promote yuan business in Hong Kong, Macau Maintain appropriately loose monetary policy Maintain appropriate growth of money supply, credit Stabilise prices, effectively manage inflationary expectations Reduce reliance on investment and exports in 2010 Prevent credit, systemic financial risks Try to make credit growth balanced Continue to push forward multi-polarisation of IMF Push forward quota, governance reform in ...

Euro zone December services PMI (final) 53.6

Posted:

Euro zone December services PMI (final) has been revised downward very fractionally, to 53.6 from flash 53.7 and compared with 53.0 in November.  Still a 25-month high though. Composite PMI 54.2, unchanged from flash estimate. Up from 53.7 in November and a 26-month high.

EUR/USD extends rally despite heavy EUR/GBP sales

Posted:

EUR/USD has recovered to 1.4345 at writing and this despite decent EUR/GBP selling interest. There seems to have been a lot of sovereign buy interest lined up below 1.4300.  Talk had the BIS buying below said level and continuing to buy when it poppped back above.  An ACB was seen buying ...

Cable extends rally as EUR/GBP sells off

Posted:

Cable has extended its rally to 1.6054 so far with a UK clearer being seen as a notable buyer. Same clearer is said to have been selling EUR/GBP along with model funds. The cross is down at .8930 from an early .8990.

Cable firmer; Jim O’Neil likes GBP/JPY

Posted:

Cable has rallied back above 1.60, presently at 1.6015 having been as high as 1.6028. In an interview with Dow Jones Goldman's Jim O'Neil has said one of his favourite trades for 2010 is to buy GBP/JPY. He feels concerns over UK and US sovereign credit ratings are overdone. It has been well-documented that ...

BIS active again

Posted:

Talk BIS bought EUR/USD below 1.4300.

German EconMin: Germany must remain anchor for euro stability

Posted:

Germany Economy Minister Bruederle talking on German radio has said "It is of great interest to everyone in the European Union, because of the stability of the euro, that Germany remains an anchor of stability." adding "Germany will implement what it has promised on stability and budget questions." EUR/USD is up ...

EUR/USD so far struggling to recover from Stark warning

Posted:

EUR/USD sits at 1.4295, just above 1.4285 session low. Supports seen 1.4280 and 1.4250. Talk of stops through 1.4280 with buy orders noted down at 1.4250/60. ECB executive board member Juergen Stark in an interview with an Italian newspaper has said "The markets are deluding themselves when they think at a certain point ...

Cable having opened lower, steady early

Posted:

Cable sits at 1.5970, slightly lower compared to a North America close Tuesday around 1.6005 with early European trade so far being confined to a narrow range. Overnight saw the release of Nationwide consumer confidence data for December which came in down at 69 from a revised 74 read in November. ...

ECB’s Stark: EU will not save Greece

Posted:

EUR/USD lower, presently at 1.4315.

USD/JPY opens little firmer

Posted:

USD/JPY is trading a little firmer this morning, presently up at 92.05 from a North American close Tuesday around 91.65, with the yen seeing across the board weakness. JAL shares fell sharply overnight. Media reports say that The Development Bank of Japan (biggest creditor) and Japanese Finance Ministry favour bankruptcy proceedings ...

More news on Cadbury saga

Posted:

Hershey board members said to be divided on making Cadbury bid.

EUR/USD opens little changed

Posted:

EUR/USD sits at 1.4355, hardly changed from the North American close Tuesday around 1.4365, with the overnight range in Asia an uninspired 1.4335-1.4371. Euro zone data today: 08:50 GMT: French services PMI for December (final) expected 60.1 08:55 GMT: German services PMI for December (final) expected 53.1 09:00 GMT: Euro zone services PMI for ...

Nikkei 225 closes unofficially higher by 0.46% at 10,731-45

Posted:

this is the highest the index has closed in 15 months. Dollar Yen holding the 92.05/08 level.

Dollar bid in early European trading

Posted:

Especially against the Yen as it consolidates over 92.00 at around 92.10

Asian Market Wrap-Up

Posted:

Economic Data Australian PMI for December 50.0 from 52.50 in November. Australian Building Approvals in November rose 5.9 % m/m (expectations +3.0%) from 12,962 to 13,724. Australian New Vehicle Sales +3.3% in December ...

Fujuii Update

Posted:

Japanese Government spokesman Hirano says PM Hatoyama thinks it best for Fujuii to wait for the results of his medical tests before deciding on his political future. In the meantime it is best for him to stay on.
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