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- ForexLive US wrap-up: European debt overshadows employment report
- Canada’s Flaherty: There are concerns about Greece
- Looks like G7 may punt on currencies
- Stocks turn postitive; risk aversion retreats
- US consumer credit improves dramtically
- Zapetero: All EU countries support all sountries in Euro Zone
- Shades of 1998?
- Swift bounce for USD/JPY, official interest?
- Washington, DC shut down by snow
- EUR/JPY at lowest levels in almost a year
- EUR/JPY under pressure from US real money sales
- Spanish PM vows support for Greece
- Don’t let the headline fool you
- Trichet denies emergency ECB meeting
- Why corporates and investors hate volatility
- Downside target not obvious until 1.3410/20
- Oil breaks $70
- Here we go again
- French stocks heavily underperform today
- ECB’s Stark: Talk of extra means to help countries in trouble unnecessary
| ForexLive US wrap-up: European debt overshadows employment report Posted: US nonfarm payrolls fall 20,000 in January; unemployment rate unexpected falls to 9.7%; Benchmark revision slices 930,000 jobs from 2009 total. Canada adds 43,000 jobs in January UK's Darling: BOE quantitative ease halt "sensible" Portugal passes regional finance law; Government defeated Trichet denies emergency ECB meeting this weekend over Greece. Spanish PM Zapatero vows EU ... |
| Canada’s Flaherty: There are concerns about Greece Posted: Flaherty says the G7 has already had preliminary discussions about the euro zone debt situation and says there are concerns about Greece, Reuters reports. We never would have guessed... |
| Looks like G7 may punt on currencies Posted: Jim Flaherty, the Canadian Finance Minister and host of the Winter X Games, err I mean G7, says that rigid currencies (like the CNY, minister?) are an important issue on economic imbalances but they are mostly an issue for the G20. He also says there will be no communique after ... |
| Stocks turn postitive; risk aversion retreats Posted: Not only are the markets risk averse, it is taking risk in risk averse positions. Those risks are not working out so well late this afternoon as US equities turn positive on the day. EUR/JPY has surged to 121.85 from 120.70 lows. A expected, markets are very, very thin. |
| US consumer credit improves dramtically Posted: US consumer credit fall $1.7 bln in January. That's not good news, but compared to the record $21.8 bln drop from November, it's a huge improvement. Could just be a blip for Christmas shopping, but growing consumer credit will signal the worst is over for the US economy. Stocks were already ... |
| Zapetero: All EU countries support all sountries in Euro Zone Posted: Define "support", Mr. Prime Minsiter. If you mean financially, I suggest you speak with the Germans, the Dutch, etc... Zapetero also says "we will defend the euro". This is the same currency the Eurogroup called over valued just last week... Also on the wires, KS Fed President Hoenig is on the wires ... |
| Posted: Remember the Asian financial crisis of 1997 which morphed into the LTCM crisis of 1998? Maybe we are seeing a repeat of that scenario. Jim Cramer, CNBC's wild and whacky host, blames this morning's oil slide on the collapse of an unnamed commodities fund. The ripple effects of these market crisis tend ... |
| Swift bounce for USD/JPY, official interest? Posted: Traders wonder whether their is some Japanese official interest on dips now in USD/JPY. There were vague rumors of the BOJ checking rates yesterday afternoon and we're bouncing pretty sharply now, so some wonder whether Kampo or some other Japanese body is trying to stem the tide of JPY buying. ... |
| Washington, DC shut down by snow Posted: Our Nation's Capital is shut down by a snow storm which is projected to dump in excess of a foot of global warming onto the District. Former VP Gore was unavailable for comment... |
| EUR/JPY at lowest levels in almost a year Posted: EUR/JPY is at the lowest levels since late February 2009, before the recovery in the US stock markets which began in March. Expect barrier options at the 120.00 level to act as a magnet next week unless there is some sort of resolution of the debt issues in Europe (unlikely) ... |
| EUR/JPY under pressure from US real money sales Posted: Traders report a round of EUR/JPY selling from US real money accounts. US equities are on their lows (down 1.2%) and LatAm equities continue to slide as well. Investors are dumping Peso and reais as they repatriate out of "risky" markets and bring money back on shore to the US. As ... |
| Spanish PM vows support for Greece Posted: Spain holds the rotating presidency of the EU and PM Zapetero says that EU will support Greece "because it is a European country, and that is what Europe is all about." Looks like the PM wants to set a precedent in case Spain needs an eventual bailout. He dismissed concerns about ... |
| Don’t let the headline fool you Posted: Analysts expectations for the BOE's next move are all over the lot, the Journal reports. For some reason, they titled the piece "BOE mulls stimulus"... Looks like they are mulling lots of things... |
| Trichet denies emergency ECB meeting Posted: Hadn't heard the rumor, but Trichet denies that the ECB will hold an emergency meeting this weekend. Didn't they just meet Thursday? That's the goofiest rumor I've ever heard... |
| Why corporates and investors hate volatility Posted: Just imagine you are BMW or Seimens or some other giant European exporter with huge business exposure in the US. Two months ago you were terrified the dollar would keep dropping and you were probably hedging as far out as was feasible (buying EUR/USD forward) . Two months later your ... |
| Downside target not obvious until 1.3410/20 Posted: I assume there are very large barrier options at the 1.3500 level which could slow any EUR slide but looking at the charts, there is little obvious support until the 1.3410/20 level. 1.3422 is a bottom on the dailies dating back to May of last year. 1.3411 is the 61.8% ... |
| Posted: Gold holding $1050 so far and EUR holding 1.3600... Update: EBS low at 1.3594. Gold reached $1044.75. |
| Posted: A fresh round of risk aversion is sweeping the market with EUR/USD slumping to fresh low at 1.3618. Oil has fallen another dollar and now trades at $70.92, and gold trades just above $1050. I assume there are 1.3600 barriers in EUR/USD but I can't swear to it. |
| French stocks heavily underperform today Posted: UK and German markets each closed down 1.5% today but France fell 3.1%. What's up with that? Oil prices are heavy again today, despite a Goldman buy recommendation. It trades now below the $72 level, down another $1.35. Gold is within $3.50 of session lows, now at $1055. China and India ... |
| ECB’s Stark: Talk of extra means to help countries in trouble unnecessary Posted: ECB chief economist Stark is on the wires saying it is unnecessary to discuss extra measures for countries in trouble. A mechanism to provide support would be incompatible with the rules of monetary union. Greece has taken an important step in the right direction with its budget plan, Stark says. Now ... |
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