Jan 28, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Euro zone January economic sentiment much stronger than expected

Posted:

Euro zone January economic sentiment has come in at 95.7 from upwardly revised 94.1 in December, better than median forecast of 92.4. Industrial sentiment -14 from -16 in December; consumer unchanged at -16; services -1 from -3. Business climate improved to  -1.12 vs revised -1.30 in December.

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President Obama’s Effect???

Posted:

Todays USD/IDR touched 9400 while Indonesian Central Bank seems cant holding on anymore at 9420 and USD/IDR swifted to the right at 9430. Than here he came, President of United States showed on the television and gave a speech about his mission to narrowed US budged deficit and maximize employment ...

USD/JPY Slips back from high; notable seller seen

Posted:

USD/JPY sits presently at 90.40 having earlier posted a session high 90.55. Talk has it a Japanese auto maker had an interest to sell up around the highs. Some divergence of opinion as to where stops lie on topside. Heard earlier they're through  90.70  and now talk they're through 90.60. Take your pick.

More Moody’s: Transparent, credible deficit reduction plan needed to stabilise Portugal rating where it stands

Posted:

See risks euro zone interest rates may rise too fast than appropriate for Portugal. Elsewhere, spread between Portuguese/German 10-year government bond yields has widened 8 bps to 112 bps. EUR/USD slightly lower at 1.4027.

Cable slips back from session high

Posted:

Cable is back at 1.6260 having earlier posted a session high 1.6276.  Talk Asian sovereign entered market selling around high.  Given Asian sovereigns seen buying at lower levels lately (below 1.6130) I guess a little profit taking might well be in order. Hey ho.

Moody’s: Portugal’s latest budget projections reveal challenges ahead

Posted:

Poor old Portugal. Lovely country, lovely people.  An old mate of mine (best USD/DEM trader I ever saw) used to have a villa on the Algarve and me and the then missus spent many marvellous holidays there. Happy Dayz.

German January s.a jobless total +6k

Posted:

Compared to median forecast of +18k.  Total s.a jobless 3.429 mln, or 8.2%. EUR/USD tad firmer at 1.4045.

UBS looking for EUR/USD to go lower

Posted:

The Swiss bank has apparently entered short EUR/USD at 1.4010.  Has a target of 1.3500, stop loss 1.4200. Ongoing situation in Greece, Portugal and expectation of stronger than expected Q4 US GDP data behind their thinking.

Italian January business confidence rises to 83.2

Posted:

Italian January business confidence has risen to 83.2 from 82.4 in December, slightly below median forecast of 83.4.  Still though,  its the highest read since June 2008.

S&P says wants to see Portugal government’s EU stability programme before deciding on rating, looks beyond 2010 budget

Posted:

Concern over Portugal public finances has not abated since budget. EUR/USD sits at 1.4035. Some mumblings of ACB selling interest up around 1.4050.

German EconMin Bruederle: Some EU states have serious weakness, can endanger rest

Posted:

Confident ECB will begin exit strategies at right moment EUR/USD slips back to 1.4035 from session high 1.4052.

Cable extends rally, trips stops

Posted:

The cable rally has accelerated, stops above 1.6250 having been tripped, and we've been to session high 1.6275, presently back at 1.6265. Strong GBP/JPY buying has been noted, with decent demand from UK clearers and Middle Eastern names. The cross is presently up at 146.90 from an early 146.20. Elsewhere USD/JPY has been ...

EUR/USD touch firmer in early European trade

Posted:

EUR/USD has tacked on about 10 points in a listless start to European trade after the fun and games seen overnight.  We're presently at 1.4025. Talk of sell orders at 1.4040/50. Interestingly model funds were seen selling again overnight around session high 1.4039.  Probably stops not far north of 50, but ...

Japan MOF’s Noda: Japan won’t suffer double-dip in January-March

Posted:

Japanese deputy finance minister Yoshihiko Noda says he doesn't expect the Japanese economy to go into a double-dip recession in the January-March quarter.  Phew, that's a relief.

Cable edges higher in early European trade

Posted:

Cable is edging higher, having tacked on about 15 points or so in early European trade, presently at 1.6205.  Talk of sell orders at 1.6240/50 with stops probably not far north of there but no confirmation yet of exactly where.  They'll be more UK oil company buying scheduled for today.  On the ...

Japan government official: BOJ definition of price stability means declaring exit from easy policy distant

Posted:

I'll go out on a limb here, I think the US will  hike rates before Japan. Interesting to see KC Fed Hoenig's  dissenting vote in FOMC statement. USD/JPY trading a little firmer this morning, presently at 90.20 from a North American close Wednesday around 89.95.  Risk sentiment has improved and this ...

EUR/USD experiences hectic overnight ride

Posted:

EUR/USD sits at 1.4015, effectively where it closed out Wednesday in North America.  Inbetween it's traded in a 1.3938/1.4039 range in volatile, somewhat illiquid, trade. Stops were tripped on moves through 1.3980 and 1.3950 before a impressive rally ensued.  There's a chance Asian sovereign interest may have helped fuel the subsequent rally, but can't ...

Asian FX market wrap: wild moves in EUR/USD again

Posted:

EUR/USD dropped 50 pips in a minute as stops triggered below 1.3950 PBOC see USD funding trade as a major threat President Obama gives State of Union address focusing on jobs, health and spending freeze Japanese December retail sales -0.3% YoY, weaker than expected Stockmarkets higher across the region by over 1% on average Gold and ...

AUD/USD back above .9000 as traders talk rates

Posted:

I've spoken with a few traders today and the overwhelming issue they have with shorting the AUD/USD is the cost of the trade. This really is a pair where you need to catch the elevator at the very top just as it is about to go down a number of ...

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