Jan 25, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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European stocks improving; US markets set to open higher

Posted:

European stocks are improving, FTSE now up on the day. US stock futures meanwhile indicate a firm opening.  Gold up. Risk appetite is improving, helping underpin likes of EUR/USD and GBP/USD which are up at 1.4153 and 1.6165 respectively.

EUR/USD having a bit of a struggle so far

Posted:

EUR/USD remains slightly down on the day, presently at 1.4140.  The EUR/SEK  cross is seeing some heaving selling and the action here will be weighing on EUR/USD. Elsewhere cable failed to ellicit a meaningful pop from stops through 1.6160, reaching a session high 1.6168 and then falling back to 1.6155 at writing.

EUR/GBP lower in early trade

Posted:

EUR/GBP is down at .8760 from around .8785 when I first sat down this morning. A UK clearer is said to have been a notable seller in early trade with a German fund also mentioned in dispatches  Initial support from here .8750/55.

Greek FinMin: Greece categorically will not leave the euro

Posted:

Greece will conquer budget problems on own, expect no help from outside

Cable tests resistance, which holds

Posted:

Cable went up to test aforementioned 1.6150 resistance, but sell interest just ahead of said level has been enough to cap the topside for now.  We're presently back at 1.6125.  Seems stops are up around 1.6160.   Elsewhere, EUR/USD at 1.4135. Talk of buy orders lined up down at 1.4100/10, which ...

EUR/USD drifts lower

Posted:

EUR/USD has given a little ground, presently at 1.4140. The release of German data showing a drop in consumer sentiment and comment from ECB's Nowotny that euro strength has to be observed "very carefully" will be weighing a little on euro. Not too much though.

Democrat defeat will tighten squeeze on middle class

Posted:

Anatole Kaletsky in The Times.

ECB’s Nowotny: Need to change exchange rate policies in China

Posted:

Comments made in interview with FT Re strong euro;  "Developments have not been disruptive uptil now, but one has to observe this very carefully." Euro zone exerting "a lot of peer pressure" on Greece to rectify fiscal problems ECB needs to exert "steady hand approach" to liquidity withdrawal

German Gfk February consumer sentiment indicator 3.2

Posted:

German Gfk February consumer sentiment indicator has come in at 3.2, down from an upwardly revised 3.4 read in January. Compares with median forecast 3.1. EUR/USD sits at 1.4165  in very subdued start to European trade.

Japan FinMin Kan: Markets decide forex rates for themselves

Posted:

Don't have to worry about any intervention then. USD/JPY, like the market in general, not doing much of anything, presently at 90.15.  The downside pressure  has been eased slightly by reports Bernanke looks likely to be re-confirmed as Fed chairman.

Cable ticking higher

Posted:

Cable is edging higher, presently at 1.6140.  Initial resistance is at 1.6150. Talk of some sell interest just ahead of 1.6150 not surprisingly, but it's a good bet there are stops lined up not far north of said level.

EUR/USD sees steady trade in Asia

Posted:

EUR/USD has seen steady trade in Asia, as the weeks trading got off to a subdued start.  We're presently at 1.4165 with the range in Asia 1.4135-1.4173.  It's interesting to see that the sell orders reported Friday up at 1.4175/85 have so far capped the topside. Might well be some stops ...

Asian FX market wrap: majors trade sideways in quiet Asian session

Posted:

Bernanke set to be reconfirmed as Fed chairman US bankers set to lobby for softer reform package Australian Q4 goods PPI -1.5% YoY No major rates or policy change expected from BoJ Asian regional stock markets regain early losses but still down 0.5% on average Gold adds $9 to $1099/oz There was some very early excitement ...

No major change expected from BoJ tomorrow

Posted:

The BoJ will meet tomorrow and are widely expected to leave rates unchanged tomorrow and to leave their lending programs broadly as they are.

AUD catching bid tone as risk trades try to return

Posted:

The AUD/USD is catching an updraft as some AUD/JPY buying hits the market. Still no sign of any major flows but the risk sentiment is returning in mild doses. Next resistance in the AUD/USD is at .9090.

EUR crosses drift back towards session highs

Posted:

EUR/JPY and EUR/GBP are both drifting higher but interest remains quite muted according to dealers. Initial resistance in USD/JPY is at this mornings high of 90.35.

US bankers set to lobby for softer reforms

Posted:

This report in the FT suggests that Wall Street bankers will combine their lobbying power and use the World Economic Forum in Davos as an opportunity to lobby the Obama administration to soften the proposed regulatory reforms.

Australia Q4 Goods PPI -1.5% YoY (-1% expected)

Posted:

Producer prices for the last quarter fell by 0.4% QoQ and 1.5% YoY, slightly more than was anticipated.

USD/JPY slides along with the Nikkei

Posted:

No sign of any risk taking in Tokyo this morning. The Nikkei is now -1.25% and USD/JPY is falling in sympathy, currently back to its NY closing level at 89.85 and just above last week's low at 89.75. Stop are likely (mine included) to appear below 89.70.

Nikkei opens 1% lower, Kospi -1.3%

Posted:

FX markets are quiet with USD/JPY stagnant around 90.00 and EUR/USD drifting lower after being unable to challenge the 1.4180 high from Friday. Unfortunately it's looking like it might be a quiet session.
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