Mar 19, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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I’m glad I’m not a EUR/USD trader……

Posted:

Well at least not today. Boring trade so far. Sits at 1.3620 exactly where it was 3 1/2 hours ago.  Talk sell orders 1.3630/50 and again up at 1.3690/00.  Trichet came and went and said nothing to move market.

ECB: ECB says that banks deposited E196bln with it…

Posted:

ECB: ECB says that banks deposited E196bln with it overnight and banks borrowed E52mln at marginal rate. ECB also said that Eurosystem has now purchased E42.393bln worth of covered bonds as of March 18.

Cable steadies a little

Posted:

Cable at 1.5185, steadying a little after earlier swoon. We've been down to session low 1.5164. Gee, anyone would think there were buy orders touted down at 1.5150/60 ;)  Might be a little early to sound the all clear though given its Friday and cable market will be notoriously thin, so anything's possible.  ...

EUR/CHF comes under renewed pressure

Posted:

EUR/CHF has come under renewed pressure this morning, presently down at 1.4370 from early 1.4400, comments made by SNB's Danthine yesterday still resonating.  Talk of 1.4350 barrier option interest in place and as such might expect some defence of said level. Stops tipped just below.

FRANCE DATA: French wage gains slowed significantly..

Posted:

FRANCE DATA: French wage gains slowed significantly in 4Q and were weaker than the same period last year, thus cutting the annual increase to a 10-year low, the Economics Ministry confirmed Friday. Monthly base salaries rose 0.2% in 4Q, the ministry said, leaving unchanged the figure it first reported February ...

I’m glad I’m not a USD/JPY trader

Posted:

Boy, must be tough.  You'd have to take a good book in to work to fill the hours of utter tedium. USD/JPY unchanged from when I sat down close on 3 hours ago. Buy orders tipped 90.00/20. Sell orders 90.80/00.  zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Lord Tebbit “facing prosecution for kicking Chinese dancing dragon”

Posted:

Good old Norman!!  Priceless.  From this day forth to be known as "Norman The Dragon Slayer"

Cable extends slide

Posted:

Cable has been down to 1.5187, presently at 1.5195.  It never ceases to amaze me how BOE officials have such an uncanny knack of putting the skids under sterling.  It's almost as though it's planned  ;) We've got another chap from the OLd Lady up at 10:35 GMT.  Mr Paul Tucker is a panellist ...

EUROPE: (2) At 0945GMT this morning, German Finance..

Posted:

EUROPE: (2) At 0945GMT this morning, German Finance Minister Wolfgang Schaeuble is due to deliver a speech in Germany's lower house ahead of the vote on the 2010 budget bill. At 1015GMT, IMF Managing Director Dominique Strauss-Kahn gives the keynote address at a conference in Brussels. In Germany at 1030GMT, ...

EUROPE: (1) European data for Friday starts at when..

Posted:

EUROPE: (1) European data for Friday starts at 0700GMT, when German PPI is expected to come in at +0.2% m/m, -2.7% y/y. France data at 0745GMT sees Q4 final salaries and wages data, while at the same time, ECB President Jean-Claude Trichet delivers a speech at the European Commission, in ...

BOE’s Sentance: Some risk of double dip recession in UK, but it is not a central forecast

Posted:

Can't rule out new financial shocks, which could set back the economy As recovery gathers momentum fiscal policy will need to be tightened substantially Relatively encouraged by turnaround in last year in UK, Global economy More normal pattern would be to see recovery gathering Sees UK inflation at target, possibly below, helped by muted ...

ECB’s Draghi: Euro zone needs stronger budget rules, too soon to say what

Posted:

There is a need for clearly defined exit strategies for big budget deficits Greece moving in right direction but needs to see results Greeks understand need to pay a political price for debt crisis Sees need for euro zone to broaden concept of stability and growth pact Euro zone should except mechanisms to improve ...

US PRESS: Karthik Ramanathan, who has overseen the…

Posted:

US PRESS: Karthik Ramanathan, who has overseen the issuance of more than $8 trillion in U.S. debt over the past year, plans to leave the Treasury Department at the end of March, the WSJ says. Ramanathan has run the Treasury's office of debt management at a time of severe borrowing ...

EUR/USD sees very steady Asian trade

Posted:

EUR/USD sits at 1.3620, for all intents and purposes unchanged from where North America closed out Thursday, with Asia seeing an extremely narrow rangebound trade of 20 or so pips.  Euro zone data today is strictly second tier and won't be adding any excitment to proceedings: 07:00 GMT:  German February PPI expected +0.1% m/m, -2.8% y/y 07:45 ...

ECB: Draghi adds Greece moving in right direction,…

Posted:

ECB: Draghi adds Greece moving in right direction, but needs to see results. (press)

UK: Talks between British Airways and the Unite at…

Posted:

UK: Talks between British Airways and the Unite union aimed at averting strike action will resume on Friday, BA's chief executive has said, the BBC reports. Leaving TUC headquarters late on Thursday, Willie Walsh refused to say if talks had made progress on a deal, the Beeb adds.

ECB: Mario Draghi, ECB board member and one of the…

Posted:

ECB: Mario Draghi, ECB board member and one of the leading contenders to replace JC Trichet next year, is reported saying that there is a need for clearly defined exit strategies for big budget deficits.

UK PRESS: The FT’s Lex Column reminds that EU have…

Posted:

UK PRESS: The FT's Lex Column reminds that EU countries have almost doubled their short-term debt since 2007 to about 11 per cent of the total outstanding. The paper says rolling over such debts, worth more than E800bn this year, increases the chances of a blow-up. However, Lex notes the ...

US PRESS: California’s median home price rose 11.2%..

Posted:

US PRESS: California's median home price rose 11.2% in February from February 2009, although home sales in the state slipped for the second consecutive month compared with a year earlier, according to a report released Thursday by MDA DataQuick, a housing-data provider, the WSJ says.

US PRESS: In a detailed review of the causes of the..

Posted:

US PRESS: In a detailed review of the causes of the financial crisis, former Federal Reserve Chairman Alan Greenspan acknowledged a range of regulatory failures but strongly disputed the widely held view that the Fed left interest rates too low for too long, the WSJ reports.
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