Mar 3, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Greek public sector union says new austerity steps to trigger more protests, fears social explosion

Posted:

Whoops.  EUR/USD relatively steady around 1.3640.

EUR/USD slips back

Posted:

EUR/USD has slipped back to 1.3640 with an Asian sovereign having stepped in selling up around 1.3660.  Seems to be a case of same as it ever was. As I mentioned in a side comment earlier seems to me sovereigns ruling the roost at the moment. This latest move doesn't ...

UK February services PMI much better than expected

Posted:

Has come in at 58.4, up from 54.5 in January and much better than median forecast of 54.9. Highest read since January 2007. Cable has popped higher on the good news, presently at 1.5055.

Greek cabinet decided on extra austerity measures of 4.8 bln euros – Govt source

Posted:

EUR/USD has extended rally, back up at 1.3655 at writing. The amount is as expected. EDIT: Asian sovereign steps in and sells around 1.3660. Earlier today there were reports of sell orders up at 1.3690/00.

Chinese government advisor sees modest yuan appreciation, calls one-off reval unlikely

Posted:

Sees 5% yuan rise at most in 2010

EUR/GBP ticks higher; stops noted

Posted:

EUR/GBP is ticking higher, presently at .9090 from early .9065. Talk of buy stops gathered up at .9110/15 and through .9150. Personally, would be nice to see them tripped, and soonest.

China central bank paying serious attention to inflation – Deputy Governor

Posted:

So they should. Have you seen the price of river fish!!! Elsewhere more comments from Commerce Minister China exports growth rate accelerates in February from January and China will stick to own pace despite rising global pressure for yuan rise Basically we're all right Jack and put that in your pipe and smoke it.

Greece announcement re new measures due 09:30 GMT – CNBC

Posted:

Not long to wait then.  EUR/USD rallies back over 1.3600. Apparently Swiss name sold decent amount of EUR/JPY which helped pressure EUR/USD below 1.3600 earlier.

Spain’s February services PMI much worse than expected

Posted:

Fell to 47.1 from 48.8 in January, much worse than median forecast 49.3. EUR/USD slips under 1.3600, presently at 1.3595.

Irish February services PMI rises to 48.8

Posted:

From 44.4 in January, a 25-month high. Hooooooray!!!! We at Forexlive, all being either born in Ireland or of Irish stock, are very happy with that little piece of news. Come on the Celtic Tiger!!!!

BOJ’s Shirakawa: Need to ensure market trust in fiscal, monetary policies as economy recovers

Posted:

Japan's interest rates reflect expectations for slow recovery, falling prices Risk premium on Japan debt not rising due to market trust in govenment, BOJ policies Will aim to keep long-term raytes stable by guiding policy in way that gains market trust USD/JPY sits at 88.95, happily ensconsed in well-defined 88.50-89'50 range, for now ...

FTSE 100 tax burden threatens UK jobs

Posted:

Why would anyone want to run a company in this country?

EUR/USD slips back a little as European trade gets underway

Posted:

EUR/USD has given a little ground as European trading gets underway, presently at 1.3625.  Talk of buy orders at 1.3600/10, sell orders up at 1.3650/60 and then 1.3690/00.  Nothing confirmed re stops. I'd hazard a guess stops down around 1.3580 and up around 1.3710.  Will try and get confirmation of ...

German retail sales flat m/m, -3.4% y/y

Posted:

Compares with median forecasts -0.5% m/m, -1.1% y/y.

China to keep yuan basically stable this year – Commerce Minister

Posted:

Basically no surprise there.  Did anyone seriously think they were going to address the situation in a meaningful way in the  short-term?

Cable opens firmer but off overnight highs

Posted:

Cable sits at 1.5025, up from a North American close Tuesday around 1.4960, but someways from overnight high of 1.5075. Article in FT which suggests Prudential's deal to buy AIA could be in jeopardy given recent fall in Prudential's share price has been noted. Some suggestion forex hedge already in place ...

EUR/USD eeks out some marginal gains in Asia

Posted:

EUR/USD up at 1.3640 from North American close Tuesday around 1.3605.  There seems to be some mild optimism surfacing regarding Greece.  Greek PM Papandreaou will today announce 4-5 billion euros in extra deficit cuts ahead of his upcoming meeting with German Chancellor Merkel later in the week. Market will have  noted ...

Stand on Euro/Usd

Posted:

Hi Sean I would like to know the current situation on Euro/USD whether to remain Bullish or be safe & take a bear ride....

Posted:

Sean, Please opine on what just happened "down under" and whether this means that the nation's currency (in the form of the AUD/USD spot rate) will (finally) stay above .9070 for a while: http://www.smh.com.au/business/economy-grows-as-sentiment-picks-up-20100303-phhk.html

Asian FX market wrap: sterling recovers some ground

Posted:

Cable gains almost 100 pips on the session, EUR/USD grinds higher, AUD unchanged despite more solid economic data and the JPY tied in by big orders either side of the market. Cable rallied almost 100 pips after doubts began to emerge whether Prudential may have to pull out of AIG deal ...
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