Mar 20, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Eerie parallels between CBO and ratings agencies

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Both are capable of being gamed by their clients: The bill's architects have cleverly gamed the rules to minimally satisfy the requirements of getting the referee to say the new promise is funded, while creating real long-term fiscal risk.  There is an obvious parallel to the financial engineers ...

ForexLive US wrap-up: Euro cracks key support; tests 1.3500

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Canadian retail sales rise +0.7%, ex-autos +1.8% in January Greek PM: We're only one step away from being unable to  borrow BA cabin crews set to strike after talks break down Frnce/Germany remain at odds over IMF role for Greece Merkel: Euro a victim of speculation ; urges tighter controls of hedge funds Reserve Bank ...

LOOK AHEAD: US Event calendar for Monday;…………

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LOOK AHEAD: US Event calendar for Monday; 22-Mar 1945/1545 Atlanta Federal Reserve Bank President Dennis Lockhart speech on the economic outlook at the ...

LOOK AHEAD: US economic data calendar for Monday;….

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LOOK AHEAD: US economic data calendar for Monday; Mon, Mar 22 11.00am UST announces 4wk, SFP bills. 11.30am UST auctions 3/6m bills. ...

Greece: EUR 16 bln in financing needed by May

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The head of the Greek debt office says that Greece must raise EUR 16 bln by the end of May. Some of the debt will be denominated in dollars, he says. Until that debt is rolled over or Greece gets a backstop from the EU, the IMF or the EiEiO, the ...

Canadian PM: Excessive C$ rise a risk to the economy

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Harper says that BOC Governor Carney has been clear that an excessive rise in the CAD is a risk for the Canadian economic recovery. Sounds like Harper thinks we entered the "excessive" zone... USD/CAD trades at 1.0160, up nearly a cent from session lows made after the strong Canadian  retail sales ...

EU commission president Barroso: Must agree on Greek aid package ASAP

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The head of the European Commission says that EU states must agree on a standby aid package for Greece as soon as possible. He proposes coordinated bilateral loans for Greece from euro zones states, saying they will not compromise the "no bailout" clause of the EU Treaty. We cannot allow ...

EUROZONE: The market awaits soundbites from the……

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EUROZONE: The market awaits soundbites from the European Council meetings next week (March 25-26). John Normand of JP Morgan Chase says "Europe's dilemma is clear - it needs a regional liquidity pool but (Germany) will not fund it. It also has access to a global liquidity pool (the IMF) but ...

Moody’s: Little risk of debt contagion from Europe to Latin America

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You read that right, little risk to Latin America from contagion emanating from Europe. My, how the tables have turned...

Brown asks BA strike to be called off

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The embattled UK prime minister has asked the cabin crew strike at British Airways be called off immediately and talks restarted. Cable is rebounding, up about 30 pips from session lows. EUR/USD has rebounded as well, edging above 1.3540 briefly.

EUROZONE: Steve Barrow of Standard Banks says the….

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EUROZONE: Steve Barrow of Standard Banks says the euro and eurozone bond markets may react differently to a bailout from the IMF rather than a bailout from the new European Monetary Fund (EMF). The main advantage of the IMF "stumping up cash for Greece" is that it would leave the ...

That may be all folks…

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After a busy morning, EUR/USD may settle down into a consolidation between 1.3500 and the former support level at 1.3530/40. That would be bearish for the euro as consolidations tend to break out in the direction of the near-term trend, to the downside. NCAA basketball could dominate the afternoon, leaving the ...

FED: The latest step in the appeals process also the.

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FED: The latest step in the appeals process also went against the Fed today but the central bank's effort to keep secret the names of the banks that borrowed from its discount window under special terms during the crisis is likely to continue, tho no formal Fed reaction yet. The ...

EUR/USD in demand at 16:00 GMT fixing

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Traders report that EUR/USD is in demand at the late London fixing. We got an early glimpse of this when real money guys bought the bounce from 1.3500.

EUROZONE: Barbara Rockefeller of Rockefeller………

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EUROZONE: Barbara Rockefeller of Rockefeller Treasury Services takes issue with a WSJ report Friday stating the Greece's PM Papandreou is making the country's debt situation worse by complaining about the high cost of borrowing and therefore creating a credibility issue. In contrast Ireland is quieter and pays less of a ...

Cable rebounds after dip through 1.50

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Cable dipped as low as 1.4998 but has made a nice comeback, with an assist from EUR/USD. The single currency managed to maintain its toe hold on the 1.3500 level and has since bounced back, helping give cable a boost

EUR/USD dips as low as 1.3503; real money buys bounce

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EUR/USD has bounced to the low 1.3513 level after holding the 1.3500 level. 1.3503 was the traded low. Real money accounts bought the bounce, traders report.

MEXICO: Mexico’s Pemex announces oil reserves as of..

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MEXICO: Mexico's Pemex announces oil reserves as of Jan. 1 at 13.922 billion barrels of crude oil equivalent compared to 14.308 billion last year.

MEXICO: Banxico says inflation so far in 2010 with…

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MEXICO: Banxico says inflation so far in 2010 congruent with what is expected. Says aggregate demand pressure not seen. Inflation seen at 3.0% at the end of 2011.

MEXICO: Bank of Mexico: inflation seen at 3% at end..

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MEXICO: Bank of Mexico: inflation seen at 3% at end of 2011
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