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- BIS seen buying EUR/USD
- BOE’s King: Have yet to see bulk of QE impact come through
- BOE’s Miles: Not to raise QE was a very finely balanced decision
- More King: There is political consensus to deal with deficit, banking regulation
- BOE’s King: Some signs of a recovery in demand abroad and at home
- Ifo’s Abberger: German economy could possibly have contracted in Q1 due to severe winter
- Ifo generally weaker than expected
- EUR/USD holding up ahead of Ifo
- Bank of Spain’s Ordonez; 2010 to mark start of slow return to growth of external demand for Spain
- Hung parliament looms as Tory support crumbles
- USD/JPY marginally easier
- About 150 trade union protesters block entrance to Athens stock exchange
- RBA’s Batellino: On fundamentals A$ likely to continue to rise, but lot of factors
- EUR/USD rallies, trips stops. More seen
- RBA’s Battellino: Rise in A$ important in helping contain inflationary pressures in this boom
- Cable touch firmer. BOE officials up to the plate later today
- EUR/USD touch firmer but still narrow rangebound
- Rumours of SNB help EUR/CHF higher
- Asian FX market wrap: quiet session, FX taking lead from equities
| Posted: EUR/USD at 1.3625. Talk BIS has been in buying. |
| BOE’s King: Have yet to see bulk of QE impact come through Posted: Don't know whether will have to return to more QE to avoid return to recession Stand ready to expand or contract monetary policy as situation demands Expansion in bank lending only likely to occur after balance sheets further consolidated Well sterling has taken it on the chin. Cable at 1.5430 off a cent ... |
| BOE’s Miles: Not to raise QE was a very finely balanced decision Posted: On balance felt that keeping stock of QE purchases in place was right for February Will come back to QE decision in future MPC meetings If economic outlook weaker, strong case to expand QE purchases |
| More King: There is political consensus to deal with deficit, banking regulation Posted: Cannot eliminate deficit in one year, programme has to continue through next parliament Debate on timing of deficit reduction is "overblown" Very difficult to make changes to public spending immediately Inevitable will take time for changes in public spending to be implemented May be necessary to expand QE, will have to see how things ... |
| BOE’s King: Some signs of a recovery in demand abroad and at home Posted: Recovery is fragile Risks to MPC's central view of gradual recovery remain to downside Recovery in UK's largest export markets appears to have stalled High savings countries must expand domestic demand Financial market conditions continue to improve While CPI to remain high in coming months, more likely than not to fall below target in H2 Serious ... |
| Ifo’s Abberger: German economy could possibly have contracted in Q1 due to severe winter Posted: Ifo index fell in February especially due to strong downturn in retail sales Possible severe winter weighed on retail sales Severe winter hit construction activity hard, but should rebound strongly in months ahead Companies are not made percepibly uncertain by Greek financial crisis Weaker euro in wake of Greek crisis is helping German companies ... |
| Ifo generally weaker than expected Posted: German Ifo says February business climate index 95.2, below median forecast of 96.1. Current conditions index 89.8, below median forecast 91.8 Expectations index 100.9, slightly higher than median forecast 100.5. No revisions to January data. EUR/USD has slipped back in wake of data, presently at 1.3665. |
| EUR/USD holding up ahead of Ifo Posted: EUR/USD sits at 1.3680. Asian sovereign buying has been noted during this morning's rally. Talk sell orders now at 1.3690/00, with further stops just above there. Ifo up in 3 mins or so. |
| Bank of Spain’s Ordonez; 2010 to mark start of slow return to growth of external demand for Spain Posted: Reiterates labour reform, budget consolidation are most urgent matters Fundamental government keeps austerity, pension promises Without labour reforms, bad loans will grow, more financial groups will face problems If lack of consensus delays structural reform, banks will suffer Labour reform essential for GDP growth. Without it economy will enter difficult period |
| Hung parliament looms as Tory support crumbles Posted: Bummer. Defnitely time to think about emigrating. Somewhere nice and warm. Ummm, maybe Greece. |
| Posted: USD/JPY has slipped slightly in early European trade, presently at 90.95 from around 91.10. The move comes with the greenback seeing across the board weakness. Yesterday had reports of decent buy orders lined up down at 90.80. Still talk of buy orders at said level, but not too sure how lumpy ... |
| About 150 trade union protesters block entrance to Athens stock exchange Posted: But trading is apparently expected to go ahead today. |
| RBA’s Batellino: On fundamentals A$ likely to continue to rise, but lot of factors Posted: Aussie has extended rally, tripping stops through .9050. Been as high as .9068, presently at .9060. |
| EUR/USD rallies, trips stops. More seen Posted: Stops tripped through 1.3660 and we've been as high as 1.3674 so far. More stops seen through 1.3700. Will be interesting to see if BIS turns up as EUR/USD seller. Elsewhere cable has extended rally, having been as high as 1.5575 so far, presently back at 1.5565. |
| RBA’s Battellino: Rise in A$ important in helping contain inflationary pressures in this boom Posted: Goods and labour market also more flexible, monetary policy on sounder footing Confident can do better on inflation this time, but not without challenges Mining boom underway, could last for extended period, beyond 2020 Every past mining boom fuelled inflation, policy needs to be disciplined this time Current mining boom lifting investment, terms of ... |
| Posted: Good morning, Gerry. Later "today" (i. e., 0915 GMT), the Bank of England Governor (Mr. King), its Deputy Governor (Mr. Bean) as well as its Chief Economist (Mr. Dale) et al. are scheduled to start testifying in front of Parliament's Treasure Committee. On the present GBP/USD's "H4" chart, MACD continues to ... |
| Cable touch firmer. BOE officials up to the plate later today Posted: Cable has firmed overnight, nothing dramatic, but in this market guess we''ll take what we can get. Sits at 1.5525 having closed in North America down around 1.5480. We've been as high as 1.5538 so far. Around this time yesterday I opined that I thought we'd see sell orders at 1.5535/50 and ... |
| EUR/USD touch firmer but still narrow rangebound Posted: EUR/USD sits at 1.3625 , marginally firmer from where North America closed out Monday, but still ostensibly narrow rangebound. Euro zone data due today: 07:45 GMT: French CPI for January expected -0.3% m/m, +1.1% y/y; EU harmonised -0.2% m/m, +1.3% y/y 07:45 GMT: French consumer spending for January expected -1.1% m/m, +3.6% y/y 08:30 ... |
| Rumours of SNB help EUR/CHF higher Posted: The EUR/CHF has popped from 1.4630 to 1.4675 on rumours of SNB intervention. No confirmation yet but it looks to be genuine. |
| Asian FX market wrap: quiet session, FX taking lead from equities Posted: Latest BoJ minutes; central banks increasingly aware that fiscal policy must win trust Nikkei, Shanghai fall but HK rallies Gold price rises slightly by 0.25% Some days there is just no way of making the boring seem interesting. All of the majors have traded in fairly tight ranges although EUR/JPY has tried to ... |
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