Jan 19, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

ZEW institute January German economic sentiment index much weaker than expected

Posted:

Has come in at 47.2, down from 50.4 in December and much weaker than median forecast of 50.0.

Well…..

Posted:

Sterling bulls looking for a nice stop-induced pop in cable on move through 1.6450 will be rather disappointed as we've only managed a session high 1.6457 so far, presently back at 1.6440. Obviously todays much stronger than expected inflation data will serve to bring forward many people's timetable for a UK rate hike. ...

UK December CPI stronger than expected

Posted:

UK December CPI has come in at +0.6% m/m, +2.9% y/y, demonstrably stronger than median forecasts of +0.3%, +2.6% respectively. Cable firmer, presently at 1.6445.

Cadbury recommends Kraft offer

Posted:

Kraft offer values each Cadbury share at 840p Kraft offer 500p in cash Cadbury shareholders will be entitled to receive 10p per share by way of special dividend Offer also includes 0.1874 new Kraft Food shares Final offer represents an attractive multiple of 13.0 times Cadbury's underlying EBITA Cadbury board believes offer represents good value ...

USD/JPY slips back to opening levels; conflicting interest seen

Posted:

USD/JPY has failed to mount a lasting rally and has slipped back to 90.40 at writing. I mentioned earlier talk of decent stops through 90.30. Well now I'm hearing decent bids layered at 90.30 down through 90.00. Should be interesting to see what takes place.

Austrian FinMin: Confident Greece can solve problems, but it is being closely observed

Posted:

Finnish FinMin: Greece will not receive outside help Swedish FinMin: Situation with Greek statistics is fraudulent (not sure what that's about, will come back to that when got wire story)

Spanish FinMin: Not worried about possibility of Greek default

Posted:

Confident Greece will do what is necessary to address financial problems.

Japan Ex-BOJ Hirano: Weak yen positive for Japan’s economy

Posted:

Doesn't see need for further monetary easing in Japan at the moment BOJ needs to stick to current easy policy Former senior BOJ official Eiji Hirano feels yen may weaken against the dollar later this year on expectations of a U.S. interest rate hike, which would be positive for Japan's export-reliant economy.

King to speak later today

Posted:

Bank of England Governor Mervyn King is scheduled to speak in Exeter this evening at 19:00 GMT. Ahhh, Devon.  Lucky chap. My mum and dad used to take me down to Brixham in Devon alot when I was a kid.  They used to have a great open air swimming pool. I wonder ...

EUR/USD holding up; BIS seen again

Posted:

EUR/USD sits at 1.4400, holding up pretty well. Talk BIS has been selling in 1.4400/05 area.  Some confirmation of stops through 1.4420.

USD/JPY having opened lower, sees some recovery

Posted:

USD/JPY having opened down around 90.35 is ticking higher in early European trade, presently back up at 90.55. JAL, as had been wholly expected, has decided to file for bankruptcy. Japan transport minister Maehara is to hold a news conference at 08:45 GMT. Talk of Japanese real money accounts buying USD/JPY. On downside, ...

Germany’s FinMin Schaeuble: We haven’t overcome the crisisi yet

Posted:

Expects deficit of around 6%/GDP this year Sees growing signs of possible international agreement on bank sector measures

Chinese Commerce Minister: Reaffirms yuan reform will be gradual

Posted:

It will take a long time for exports to regain pre-crisis levels. Stable yuan will aid world economic recovery.

Cable opens appreciably firmer

Posted:

Cable has tagged on some decent overnight gains, presently at 1.6410 having closed out Monday in North America down around 1.6330. Sterling being underpinned by various factors, among them anticipation on positive M&A flows eminating from Kraft/Cadbury deal; bullish forecasts for UK economy from Goldmans who see UK turning in stronger ...

EUR/USD opens very marginally firmer

Posted:

EUR/USD sits presently at 1.4395, very marginally firmer compared to a North American close Monday around 1.4380. Euro zone data due today: 10:00 GMT: German ZEW survey January, economic sentiment expected 50.0 from 50.4; current situation -56.2 from -60.6 10:00 GMT: Euro zone ZEW survey January, economic sentiment expected unchanged at 48.0 10:00 GMT: ...

Japan Dec consumer confidence index 37.6

Posted:

That is almost 2 points down on the November reading.

Asian forex market wrap; sterling continues to shine

Posted:

Sterling was again the best performing currency during the Asian session after reports that the Kraft/Cadbury deal was nearing completion PBOC to keep monetary policy loose but is shifting focus to longer term tenors to fight inflation and excessive lending practices Japan Airlines set to file for bankruptcy Regional bourses lose 0.5% on ...

Momentum lacking, market unable to get at USD/JPY stops

Posted:

It looks like we'll have to wait for London to open before we can see whether the stops below 90.30 can get triggered. The low so far has been 90.42 and the market is now drifting higher, slow pip after slow pip. Nothing else is moving.

BoC expected to keep rates on hold later tonight

Posted:

The Loonie should be in for a bit of volatility later tonight when first the release of leading indicators data is closely followed by the BoC interest rate statement. Rates are expected to remain at 0.25% and players will read the subsequent statement with interest although no change in wording ...

JAL to file for bankruptcy

Posted:

Newswires reports suggest that Japan Airlines is set to file for one of Japan's largest ever bankruptcies.
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