Feb 3, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone December retail sales flat m/m

Posted:

Euro zone retail sales have come in at flat m/m, -1.6% y/y compared to median forecasts of +0.4%, -2.5% respectively. However, November's data has been revised upward, to -0.5% m/m and -2.0% y/y from previous -1.2%, -4.0% respectively. EUR/USD steady around 1.4015.

EUR/USD runs into sovereign seller

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But it's not who you might probably think. It would appear Reserve Bank of India sold up around session highs.

EUR/USD slips back a little

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EUR/USD sits at 1.4013 having earlier topped out at 1.4026 amid talk of hedge fund sales.  Did the Giant Panda turn up as expected? I don't rightly know possums. The anticipation of such was probably enough. I'd hazard a guess the Asian sovereign hasn't yet been in.

UK January services PMI weaker than expected

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Came in at 54.5, some way below median forecast of 56.5, and weakest read since August. Cable has taken it on the chin, presently down at 1.6035. Elsewhere, EUR/USD at 1.4020 having been up to session high 1.4026 earlier.

EUR/USD rallies past 1.4000

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It took some time but EUR/USD has seen 1.4000 give out, stops tripped and we've been as high as 1.4018 so far. Talk of sell orders up at 1.4025/35.  Seems to be some anticipation of a large Asian sovereign possibly preparing to sell up there. Basically the same bank who bought ...

Euro zone final January services PMI revised marginally higher

Posted:

Euro zone January final services PMI has come in at 52.5, revised up from flash 52.3, but still down from 53.6 in December. Composite 53.7 from flash 53.6.

Cable holding up for now; sell orders, stops noted

Posted:

Cable sits at 1.6050. Middle Eastern buying has been noted in recent trade. Talk of sell orders up at 1.6060/70, more stops through 1.6075.

USD/JPY lower; ACB seen selling

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USD/JPY down at 90.15 from early 90.45.  Talk an ACB has been notable seller. Could well be Bank of Korea who have been seen selling dollars against sterling and euro today. No surprise to hear talk of stops through psychological 90.00.

Gordon Bennett, I’ve had more fun at the dentists

Posted:

Boy oh boy, this is pretty dire stuff. EUR/USD sits at 1.3978 having topped out at 1.3989, those poor euro bulls having finally run out of puff. Well at least for the time being anyways. Seems EU response to Greek budget cuts due for release at 10:00 GMT.  Maybe that'll get the ...

Rumour Gatwick airport evacuated

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Take it for what you will. Cable down at 1.6035 from session high 1.6057.

Cable extends rally; ACB seen buying

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Bank of Korea has been in buying cable, the pairing extending it's rally to a session high 1.6057, presently back at 1.6048. The Asian central bank has also been in buying EUR/USD in what is a bout of  usual reserve diversification.

EUR/USD edges slowly higher

Posted:

EUR/USD has edged higher in early European trade, presently at 1.3975.  Various reports; talk of sell orders at 1.3980/90 and other talk of sell orders at 1.3990/00, so the 80/00 area could prove tough sledding for the euro bulls. Aniticipation of European Commission releasing response to Greek deficit cuts today. Struggling to ...

If we ever……

Posted:

Manage to find the stops through 1.6030 in cable , resistances then come at  1.6050 and 1.6080/85. Wait a minute, something's stirring.........

Interesting to see…..

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EUR/JPY continuing to find support just below 126.00, given the reports yesterday of a Japanese lifer having interest to buy a lumpy amount in the cross over next few days. I'll have to see whether I can pick up whether he's still sniffing around.

Greece rattled by “hidden debt” controversy

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For those who just can't go through the day without their fix of AEP, here's yer man's latest offering.

Cable opens firmer

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Cable has made it above 1.6000, presently at 1.6010. That's up about half a cent from where North America closed out. Nationwide consumer confidence rose to 73 in January from previous 70, which was good news. On that front, I have to tell you I'm sitting here waiting to receive not ...

EUR/USD consolidation continues

Posted:

EUR/USD sits at 1.3960, unchanged from where North America closed out Tuesday, with Asian trade confined to an uninspired 1.3947-1.3978 range.  Sell orders still tipped at 1.3990/00 and gotta think stops close by above 1.4000, but have to admit didn't hear much yesterday. I'd hazard a guess probably some around ...

Chinese banks call back loans to appease Government regulators

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The two big Chinese banks, Bank of China and the Industrial and Commercial Bank of China, have called back about 70 billion Yuan worth of loans in the second half of January. This was done to fall in line with new governmental directives. (Reuters quoting local Chinese media sources).

Asian FX market wrap: quiet session for all the majors

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Australian December trade deficit AUD2.25bln, slightly better than expected Fitch rating agency cuts some Chinese banks Nationwide UK consumer confidence index rose in January Regional stockmarket rise by around 1% on average Gold consolidates overnight gains above $1100/oz All of the majors have had a very quiet session today and this is a follow on ...

EUR/USD drifts lower in lifeless trading

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Dealers say that it has been a completely lifeless session in the interbank market with most of the majors drifting around in 30 pip ranges. It looks like most of the majors will finish closer to the session lows but I'm not reading too much into this as interest has ...
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