Mar 12, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/CHF slips bit further

Posted:

Despite talk of SNB on the bid at higher levels, EUR/CHF has slipped a little further, reaching session low 1.4581, presently at 1.4589.  Talk is a large Swiss commercial bank is pressuring the cross.  Will be interesting to see whether the SNB ups the ante and really intervenes aggressively.   Stops tipped ...

UK DATA: House Prices Post 10th Consecutive m/m Rise.

Posted:

UK DATA: House Prices Post 10th Consecutive m/m Rise Feb: FT/Academetric --UK Feb House Prices Up 1.9% m/m; Up 9.7% On Year ------------------------------------------------------------------------ While other house price surveys have shown the rally in UK house prices running out of steam, FT/Acadametrics latest survey shows it continuing unabated. The average house transaction price ...

SNB seen in EUR/CHF

Posted:

Reports SNB seen on bid down at 1.4593. Presently at 1.4595.

Sovereign seller seen in EUR/USD

Posted:

EUR/USD has been up to 1.3728, presently at 1.3722.  Russia has been noted selling in recent trade, but has made little impact so far apart from slightly slowing rally.

Just reading……

Posted:

About comments made by Japanese PM Hatoyama in parliament. He feels the government needs to take steps against the yen's recent strength, which he says doesn't reflect Japan's economic and industrial conditions (which as we well know are pretty dire) Hatoyama went as far as to suggest joint international action ...

ECB: ECB says banks deposited E117bln with it and….

Posted:

ECB: ECB says banks deposited E117bln with it overnight and banks also borrowed E1.3bln at the marginal rate. ECB also added that Eurosystem has purchased E41.287bln worth of covered bonds as of Mar 11.

Cable finds a friend in an Asian central bank

Posted:

Cable has made ground this morning, bolstered by decent buying from an Asian sovereign.  The bank has recently been buying dollars against it's home currency to help slow it's strengthening, so what we're seeing here is reserve diversification. Cable is up at 1.5115 having tripped aforementioned stops through 1.5105.

EUR/USD extends rally

Posted:

Short squeeze has been extended.  EUR/USD tripped stops thru 1.3710 on way to session high 1.3720.  As mentioned earlier sell orders now touted 1.3730 up to 1.3750, interest around latter level said to be decent.

SPAIN: Feb HICP -0.2% m/m, +0.9% y/y (vs flash HICP..

Posted:

SPAIN: Feb HICP -0.2% m/m, +0.9% y/y (vs flash HICP +0.9% y/y)

FRANCE DATA: January current account deficit widens..

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FRANCE DATA: January current account deficit widens to E3.4 bln from E3.3 bln in December (revised from -E3.6 bln) due to - Smaller services surplus (+E0.9 bln after +E1.3 bln) and - Lower net investment revenue (+E1.6 bln after +E1.8 bln), which offset - Smaller trade shortfall (-E4.4 bln after -E4.6 ...

Russia CBank moves floating rouble band boundary to 34.25 vs basket from 34.30

Posted:

After buying around $700 mln.

FED: President Barack Obama plans to nominate Janet..

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FED: President Barack Obama plans to nominate Janet Yellen as vice chairman of the Federal Reserve Board, the Wall St Journal reports. Yellen, president of the Federal Reserve Bank of San Francisco since 2004, has been a strong supporter of Fed Chairman Ben Bernanke's policies to fight the deep economic downturn, ...

GERMANY DATA: German wholesale prices rose 0.1% on…

Posted:

GERMANY DATA: German wholesale prices rose 0.1% on the month in February, leaving the annual change at +2.1%, the Federal Statistical Office reported on Friday. -- Germany Feb WPI: solid fuels/oil products -1.1% M/M -- Germany Feb WPI: ore/iron/steel/non-ferrous metals +1.0% M/M -- Germany Feb WPI: grains/seeds/feed -0.5% M/M -- Germany Feb WPI: fruits/vegetables/potatoes ...

USD/JPY steady; buy, sell orders noted

Posted:

USD/JPY sits at 90.60, price action having easily been contained within 90.00-91.00 parameters over past 24 hours. Supporting the pairing is focus on next weeks March 16/17 BOJ meeting and possibility of more easing/support measures.  Bloomberg quotes two anonymous BOJ officials as saying central bank may seek to expand 10 trillon yen fund ...

ECB’s Nowotny: Worst is over for economy, but growth rates weak. Sees bad debt risk rising

Posted:

Will take two to three years until recovery complete

US: US data for Friday starts at 1330GMT, when sales.

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US: US data for Friday starts at 1330GMT, when retail sales are expected to fall 0.2% in February, as winter storms likely had a strong impact on consumer spending. Industry light vehicle sales slowed further in the month after falling back in January. Meanwhile, gasoline prices declined in February, but were still well ...

Cable unchanged overnight, EUR/GBP slightly firmer

Posted:

Cable sits at 1.5065, effectively unchanged from where North America closed out Thursday, while EUR/GBP is marginally firmer at .9093 from around .9078. Article by AEP in The Telegraph entitled "Europe's banks brace for UK debt crisis" will have been duly noted, but to be honest it offers nothing new at all. No major ...

EUROPE: European data for Friday starts at 0700GMT…

Posted:

EUROPE: European data for Friday starts at 0700GMT with German wholesale prices for February, which are followed by data from France, including the 0730GMT release of the BoF retail survey and the 0745GMT release of the current account balance. The IEA monthly oil market report is due at 0900GMT, followed ...

UK: In the UK, at 1100GMT, the Bank of England’s at..

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UK: In the UK, at 1100GMT, the Bank of England's Spencer Dale speaks at the University of Cambridge.

EUR/USD touch firmer after slow end of week Asian session

Posted:

EUR/USD up at 1.3695 from North American close Thursday down around 1.3680, with Asian trade confined to a modest 1.3670-1.3701 range.  No new major  developments overnight, so there wasn't any real incentive to push the envelope. For today euro zone data as follows:  07:00 GMT: German February wholesale price index expected +0.6% m/m 07:45 ...

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