Jan 30, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

ForexLive US wrap-up: Dollar surges as reflation trade unwinds

Posted:

US Q4 GDP rises 5.7% on inventory adjustments Fed's Kohn again reminds banks to prepare for higher short-term rates over time Spain says will meet 3% deficit/GDP target by 2013; down from 11.4% this year Greek FinMin: Q2 is difficult for us in terms of debt maturities Reuters: No EU bailout for Greece but ...

More risk aversion ahead of the weekend

Posted:

Looks like we are getting a last wave of pre-weekend risk aversions as stocks , bond yields and commodities slide and the dollar rallies versus EUR, AUD, GBP (for a change) and CHF (thank's SNB!). The S&P is down nearly 1%, Oil is below $73, and the buck is at ...

EUR/USD revisits lows; Cable makes fresh one

Posted:

Cable dipped as low as 1.4988 and EUR/USD tested 1.3862 lows again in recent moments. EUR/USD has been unable to hold rallies all day long, not even mustering a shot at the former 1.3900 support on its earlier anemic bounce. ECB's Constancio was doubtful his country can meet its budget obligations ...

Possible gold chart formation?

Posted:

I guess I'm curious more than predicting anything here.  Could this be a double bottom forming on gold at the $1074/oz level?

Oil continues slide, back to a $72 handle

Posted:

Oil reversed early session gains and is now nearly a dollar lower on the session. We trade now at $72.70. Gold bounced smartly from the $1075 level again today.

Constancio says will be tough to meet Portugal deficit targtes by 2013

Posted:

The central banker says that cutting the Portuguese budget deicit will be difficult to cut by the 2013.  Spending cuts will have to be particularly heavy in 2011, he says. French PM Fillion says France will cut its deficit to 3% by 2013 (won't everyone?) . The ration will be 6% ...

1.3900/10 should cap EUR/US near-term

Posted:

EUR/USD has pulled out oif its dive, with an assist  from the SNB. The 1.3900/10 area that provided support on the wy down should help cap bounces in the near-term. 1.3825/30 is a medium-term target on further falls. Look for some bids from around the 1.3850 area to slow the decline. ...

Summers: Market will choose reserve currencies; dollar fits bill

Posted:

Larry Summers. Obama's economic adviser, says the choice of reserve currencies is up to the markets but he sees the dollar playing a central role for a very long time. Also on the wires, North Korea tells the US it is holding two US citizens. That news could lead to some ...

S&P sees resume of home price slide

Posted:

The evil geniuses at S&P think falling US home sales could lead to price pressures. You think?

Poor sportmanship from the SNB

Posted:

It's a tad weasily to wait for Europe to go home before giving EUR/CHF and USD/CHF a ride, isn't it? They've ramped USD/CHF up a centime and EUR/CHF more than a centime. They must have a special tool in their fancy Army knives for sneak attacks.... This one has both a ...

SNB buys EUR/CHF with a bit more vigor

Posted:

USD/CHF is shooting higher as EUR/CHF jumps on SNB buying. 1.0604 is the high in USD/CHF. EUR/CHF jumped from 1.4635 to 1.4715! UPDATE: Traders say they are in USD/CHF as well. They could turn around and buy EUR/USD to leg into EUR/CHF...

Cable grinding toward 1.6000

Posted:

Since cable was below 1.6000 earlier this month, it's not a sure thing that there are barriers at 1.6000. I've spoken to a few dealers and no one has heard of one, for what's worth. An Asian central bank was a buy of cable in the 1.6030s earlier but that ...

Time for a refresher course

Posted:

Seeing as most of you are trying fade a strong trend, here is a piece I wrote in September which addresses that issue.

US investment bank nails USD/JPY

Posted:

Traders say a big US investment bank sold about $400 dollar yen a short while ago, dropping the pair back to the 90.20s. Stocks are losing altitude and EUR/JPY is on the slide, it should be noted. USD/JP[Y remains a very tough dollar to be long as risk aversion so ...

Macro shift continues

Posted:

Currencies are trading in risk averse fashion at month-end though the related markets are not showing a great deal of distress today. As noted yesterday, there seems to be more of a macro shift taking place these days rather than short-term headline chasing. The macro view that the dollar was destined ...

Gold easing with euro

Posted:

Gold is down to $1077, holding just above important support in the $1074/75 area.

1.3896 deals; Another one bites the dust

Posted:

EUR/USD fell through 1.3900 and has traded as low as 1.3896 so far. Another barrier knocked out.

US Commerce Secretary: Exports goal not dependent on dollar value

Posted:

US commerce secretary Gary Locke says Obama's goal to double US exports in five years is not dependent on the value of the dollar. Some analysts inferred that goal, announced in the State of the Union address, would rely on the US engineering a weak dollar. Locke apparently is trying to ...

Fixing demand for EUR growing but it still trades heavy

Posted:

US sources say there clients are in need of EUR/USD for the month-end fixing but EUR/USD is showing little propensity to sustain rallies at the moment. We trade now at 1.3915 after several forays into the high 1.3920s faded.

Eurogroup continues to tamp down speculation of Greek bailout

Posted:

Reuters quotes a Eurogroup source as saying their is no mandate for any EU institution to bailout Greece. There has been no discussion of a bailout and there is no plan, the official said. There may be informal, theoretical talks on how to help Greece in some EU capitals, the ...
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)