Mar 4, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Barclays Capital’s take on UK rates, QE

Posted:

I kinda like BarCap's stuff. Seem pretty switched on to me, and they have a solid reputation. They see UK rates, QE on hold, and think it unlikely we'll see any change ahead of the general election.

Greece announces 10 year bond lead

Posted:

10 year price guidance mid swaps plus around 310 basis points 10-year bond mandated to Barclays Capital, HSBC, Nomura, NBG and Piraeus Greek/German 10-year bond yield spread has widened to 301 bps , up 11 bps from Wednesday's settlement close. Meanwhile Greek shares up around 1%. EDIT:  Greece will seek to raise up to 5 ...

UK Halifax house price index -1.5% m/m in February

Posted:

Much worse than median forecast of +0.3%.  +4.5% in 3 months to February vs year ago, weaker than median forecast +5.0%. Meanwhile new car registrations +26.4 y/y in February. Cable has recovered from session low 1.5024, presently back at 1.5050.

EUR/USD rallies back, but….

Posted:

BIS said to have selling interest around current levels i.e 1.3665.

Portugal braces for strike by government employees over austerity measures

Posted:

Quess we're going to be seeing alot of this in various European countries during the remainder of the year. Once we get past the general election here and new government slashes and burns public sector spending we'll be seeing our government workers out protesting in force.

EUR/GBP inches higher

Posted:

EUR/GBP has managed to tack on 10 pips in early European trade, presently at .9080.  Talk has it a UK clearer has had a buying interest, nothing too hefty. Cable down at 1.5030 close to session low 1.5024. Yesterday heard a couple of major trading names buying EUR/GBP down around .9050.

MPC unlikely to extend QE as services sector growth eases economic fears

Posted:

Brighter than expected data from Britain's dominant services sector has helped ease fears economy may have slipped back into recession in the first quarter.

French Q4 jobless data weaker than expected

Posted:

French Q4 ILO jobless rate rises to 10% from Q3 9.5%.  Demonstrably weaker than median forecast of 9.4%.  Jobless rate in mainland France rises to 9.6% from Q3 9.1%.   Data has helped extend EUR/USD sell-off a little further, presently at 1.3640. Cable down to 1.5030.

Chemical giant Ineos may leave UK to save on tax

Posted:

Last one out the door turn off the lights.

Shanghai share index ends down provisional 2.4%; biggest percentage fall in 5 weeks

Posted:

The move comes as rumours swirl that PBOC is set to raise reserve ratio rate again.

S.Korea fx authorities seen buying dlrs to check won’s strength – traders

Posted:

Some of those dollars likely to be diversified into euros at some juncture.  Funnily enough had reports yesterday of Korea selling EUR/USD up around current 1.3660/65 level during the European morning.

Greek Dep Foreign Min: Hopes extra savings package will reach 2010 budget target

Posted:

We need EU partners support so borrowing is not too expensive We don't need direct financial support from EU partners

BOJ’s Noda: Further easing would have smaller effect on term interest rates than before

Posted:

Strengthening commitment to price target could hurt BOJ aim of price stability Doesn't see much change in pace of narrowing in CPI falls since January forecast Doesn't see need to change policy now Near-term price deviation from forecast wouldn't lead to immediate policy change Hopes can escape deflation this year, no comment on gap ...

Japan PM Hatoyama: No doubt that Japan’s fiscal state quite severe

Posted:

USD/JPY little changed overnight in Asia, presently at 88.35. .We've finally broken out of the 88.50-89.50 range to the downside,  but reports of Kampo buying are slowing sell-off.  Reports I was getting just as I left yesterday had Kampo on the bid every 10 pips from 88.50 down to 88.00.

EUR/USD opens slightly easier as Asian stocks give ground

Posted:

EUR/USD has traded marginally lower in Asia, down at 1.3680  from a North American close Wednesday up around 1.3700.  The move comes with Asian stocks having given ground overnight against a backdrop of ongoing concerns surrounding China curbing lending and raising borrowing costs.  Eurozone data/events due today: 07;45 GMT: French unemployment change Q4 ...

Reminder to get in early for the double-NFP contest

Posted:

The first link is for the latest payroll number and the second link is for last month's revision. Get those guesses in before all the good ones are gone.

Asian FX market wrap: quiet consolidation inside tight ranges

Posted:

No major developments, AUD and NZD under-perform,EUR and GBP steady. More promising Japanese economic data with the fall in Corporate Capex declining and Corporate Profits rising Australian January balance goods/services -AUD$1.176billion China says commodity prices outpacing global demand Gold falls $4 to $1139/oz Regional equity markets fall 0.5% on average A very quiet trading session in ...

Where to now for Greece and the EUR

Posted:

Greece yesterday introduced it's austerity measures which were broadly welcomed as a first step, but now we are back to the question of where financial aid for Greece might come from. The IMF: this is the only logical avenue for Greece in my eyes. This would be short-term positive for the ...

China says commodity prices outpacing global recovery

Posted:

AUD/USD and AUD/JPY have fallen back towards their session lows at .9020 and 79.75 respectively. Dealers say that interest remains very patchy.

NZD selling leading the way

Posted:

After the massive moves in sterling last week, the market is looking for another 'victim' and it now has it's greedy eyes on the poor little Kiwi. The break above 1.30 in the AUD/NZD is a very important event, technically speaking, and many traders are looking for a sharp swift ...
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