Jan 23, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Futures traders got shorter USD, as of Tuesday

Posted:

As of Tuesday's close, IMM specs had added to dollar shorts.

ForexLive US wrap-up: War on banks could claim Bernanke

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Democratic senators jumping ship on reconfirming Bernanke Greek bond spreads widen further; CDS reach records SNB's Hildebrand vows to fight excessive franc strength ECB's Weber: Orders data suggests good first quarter in Germany Sarkozy: Europe shouldn't be a victim of undervalued currencies Greenspan: Bernanke should be confirmed: CNBC UK terror threat level raised to "severe" from "substantial" S&P ...

UK terror threat level to ’severe’ from ’substantial’

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No specific threat, but the level of alert has been raised, the Home Office says. GBP/USD is lower, at 1.6100 and USD/JPY is easing as well, now in the low 89.80s.

ECONOMIC CRISIS COME BACK AGAIN??(EURO WILL BE NEAR 1.280)

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I AM WAITING FOR DOUBLE DEEP RECESSION??,,ON DOWJONES INDEX BETWEEN 10.000 AND 11.000 ,I THINK MUST HAPPEN AGAIN AND I THINK DA CAN TOUCH AGAIN 4200 AND GBP-USD NEAR 1.4200 AND EURO-USD WILL BE NEAR 1.280 WHAT IS YOUR IDEA?  

What a way to end the week

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Stocks are at their lows and risk is in retreat ahead of the weekend. Instead of Bernanke just getting roughed up a little, the anti-bank backlash in Washington has put the nomination in a certain amount of jeopardy and stocks don't like uncertainty. Ultimately, I expect Senators to hold their noses and vote ...

No More Too Big to Fail

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President Barack Obama's plan to limit the size of banks and prohibit them from investing in hedge funds and private equity funds is a new way to reduce risk-taking and prevent a repeat of the credit crisis.   Under new rules bank holding companies would be barred from owning, investing in or ...

USD/JPY weighed down by familiar woes

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USD/JPY is bumping up against session lows as US equities get pounded on the back of the growing populist sentiment in Washington which has undermined the banks and put the Bernanke nomination in jeopardy. Lower stocks are helping send US yields lower as bonds provide a safe-haven. Traders report some US buying ...

S&P flirting with 1100

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Just three days after touching 1150, the S&P 500 is flirting with the 1100 level. Thanks Mr. President!. See how far your populist message takes you when the public's savings go down the drain again...

CNBC thinks Bernanke has the votes

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John Harwood, a veritable mouthpiece for the Obama administration, says that Bernanke has enough votes to end a filibuster and force a vote. He also thought Wednesday morning that health care reform would proceed, so take his analysis with a grain of salt. EUR/USD is easing once again, now in the ...

Stocks at session lows as Obama prepares to speak

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Obama is about to speak in Ohio, a high unemployment state, and is sure to throw some red meat to the crowd. Stocks are soft in antcipation of renewed bank bashing. The S&P is down 0.9%

EU will not follow Obama path to bank reform

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An EU source tells Reuters that it will go its own way on bank reform and not follow the Obama path. The EU will emphasise capital standards and stiffer regulation. Sounds reasonable...

EUR/USD easing from highs; stocks turn south

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Traders say they've seen good Swiss selling of EUR/USD as prices pullback from session highs. US equities are turning lower once again, down 0.7% after earlier moderating losses. Risk aversion on a global scale continues to jostle with US-centric banking regulation/Bernanke concerns for preeminence today. EUR/YUSD is at 1.4155 from 1.4181 highs.

EUR/USD extending range top

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EUR/USD extended the range top up to the 1.4177 level, stalling just shy of rumored 1.4180 offers, a few stops were triggered in the 1.4170/75 area, traders say. Larger stops are eyed above the critical 1.4220 level. Bernanke jitters as well as unwinding of oversold technicals are at work ahead of ...

CNBC: Kohn to take over if Bernanke delayed

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If Bernanke's confirmation vote is delayed, CNBC reports that Fed Vice Chair Don Kohn would take the helm on a temporary basis. Kohn and Bernanke are joined at the hip philosophically.

Sarkozy: Currencies seriously distorted

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French President Sarkozy says currencies are the most serious distortion to competition in the global economy. Countries must work together on currencies . France will not accept the euro as a victim of the undervaluation of certain currencies, he is reported to have said by Reuters. Sarkozy has been railing against ...

Another Democratic Senator opposes Bernanke

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Obama looks like he is getting bitten on the bum by his bank bashing as another Democratic Senator comes out against Bernanke. California's Barbara Boxer is the latest member of the majority to say she will oppose Bernanke for a second term. EUR/US trades in the upper reaches of the overnight ...

Freddie and Fannie finished?

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CNBC reports Barney Frank has proposed abolishing Fannie Mae and Freddie Mac in their present form... Already in government conservatorship, my fear is that rolling Freddie and Fannie onto the government balance sheet, taxpayers will lose sight of how many hundreds of billions these behemoths will cost us over the years to ...

EUR/USD zips higher after fixing; stocks recovering

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EUR/USD has bounced back all the way to fresh session highs with US equity markets rebounding from their deep early losses. Talk of sell orders in the 1.4170/80 area and again toward 1.4220 are helping contain rallies so far. Expect stops to be mixed in around 1.4170/75 now. There are major ...

SNB’s Hildebrand: Will fight excessive CHF appreciation

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The WSJ reports. The fight will continue as long as deflation risks persist.

White House gives Bernanke vote of confidence

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In baseball, the dreaded vote of confidence usually comes just before the team owner fires the manager. It's usually different in Washington, where Bernanke just got a vote of confidence from the president. He is the best person to lead the Fed, Obama's flack said, and Obama is confident he ...

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