Mar 22, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Cable seeing some marginal recovery

Posted:

Cable is seeing some marginal recovery, presently back up at 1.4990, amid talk of buying interest surfacing out of the Middle East.  There is also talk of sell orders lined up in the EUR/GBP cross from .9050 up to .9100, which will be lending beleaguered sterling some much needcd help. The cross is ...

ECB: ECB said that banks deposited E195.1bln with it.

Posted:

ECB: ECB said that banks deposited E195.1bln with it Friday vs E196.0bln on Thursday and banks borrowed E52.0mln at the marginal rate. ECB also said that Eurosystem has now purchased E42.444bln worth of covered bonds as of Mar 21.

USD/JPY remains steady

Posted:

USD/JPY sits at 90.55, unchanged on day, and unchanged from where North America closed out last week.  We march inexorably toward fiscal year end and all remains calm for now. Buy orders tipped layered from 90.20 down to 89.80, with stops through 89.75.  Sell orders meanwhile tipped 90.80 up to 91.20, with ...

GERMANY: Fierce German resistance to helping Greece..

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GERMANY: Fierce German resistance to helping crisis-hit Greece has emerged in an FT opinion poll that strengthens the hand of Angela Merkel before a possible European showdown this week over financial aid for Athens, the paper says. Germans overwhelmingly opposed offering financial support to Greece and are strikingly more hostile ...

FRANCE: French President Sarkozy is set to conduct a.

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FRANCE: French President Sarkozy is set to conduct a reshuffle of his governmrnt after the expected weekend local elections drubbing, the press reports, although PM Francois Millon is expected to retain his position.

Deficits, rates and the savage circle

Posted:

Latest from Anatole Kaletsky at The Times.

Relentless march of state spending

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UK government spending accounts for more than half of the economy for the first time on record, after substantial public sector growth under Labour.  Guess we all know what's going to happen to the poor old public sector once the elections out of the way.

GERMANY: Federal tax revenue fell in February by on..

Posted:

GERMANY: Federal tax revenue fell in February by 10.6% on the year, but the result was distorted to the downside as in January by "markedly higher transfers to the EU," the German Finance Ministry said in its latest monthly report released Monday.

Has Germany just killed the dream of a European superstate?

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Latest from AEP at The Telegraph, just incase you missed our overnight posting.

UK PRESS: Alistair Darling will use the Budget to….

Posted:

UK PRESS: Alistair Darling will use the Budget to announce the creation of a new state bank, backed by 2bn of public and private cash, which will help finance companies planning to build green energy projects and high-speed rail links, the Telegraph reports. The venture is designed as a key ...

JAPAN: Japanese capital markets were closed Monday…

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JAPAN: Japanese capital markets were closed Monday to observe the Spring Equinox national holiday.

Cable gets hit again during Asian trade

Posted:

Cable continues to struggle, down at 1.4965 from a North American close Friday up around 1.5010. The pairing has been as low as 1.4934 in Asia. The Ernst & Young ITEM club has come out warning that over-optimistic growth forecasts mean that the government needs to find another £10 bln in order ...

EUROPE: (2) At 1530GMT, ECB President Jean-Claude an.

Posted:

EUROPE: (2) At 1530GMT, ECB President Jean-Claude Trichet gives an introductory statement at the quarterly hearing before the Committee on Economic and Monetary Affairs of the European Parliament, in Brussels. At 1645GMT, ECB Executive Board member Jose Manuel Gonzalez-Paramo is due to speak at the USA-European Union Forum: 'Looking towards the future', ...

EUR/USD slightly easier during Asian trade

Posted:

EUR/USD is trading very slightly easier, presently down at 1.3513 compared to a North American close Friday up around 1.3535.  The market hasn't heard anything concrete regarding an aid package for Greece and so remains wary of embracing the euro at the present time. So far though the 1.3500 line has ...

EUROPE: (1) There are no early European events on as.

Posted:

EUROPE: (1) There are no early European events on Monday, as the calendar gets going at 1000GMT, when the Swiss National Bank releases it's Quarterly Bulletin for March 2010. The Bundesbank then issues it's monthly report at 1100GMT. At 1230GMT, ECB Governing Council member Axel Weber and Christian Noyer are ...

US PRESS: Hundreds of U.S. municipalities are losing.

Posted:

US PRESS: Hundreds of U.S. municipalities are losing money on interest-rate bets they made during the bull market in hopes of protecting themselves from higher rates. The deals backfired when rates fell, shriveling the sums paid to municipalities, the Wall St Journal reports. Now some are criticizing Wall Street and ...

UK PRESS: Lord Hunt, the energy minister, is to meet.

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UK PRESS: Lord Hunt, the energy minister, is to meet industrialists in London tomorrow in a bid to calm mounting fears about the disruption that could follow a sudden shortage of oil supplies, the Guardian reports.

Asian FX market wrap: US health bill passes with little effect

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The new US Health Bill gets approved Little or no impact on the FX market Tokyo holiday adds to quiet market conditions Differences remain within the EU on how to resolve the Greek situation Yet again, more rhetoric out of China on value of Yuan Regional stockmarkets fall by over 1%, gold steady Sterling the only ...

EUR/GBP catches updraft; next resistance .9065

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The stop loss sales of cable have also sent EUR/GBP higher. The high so far has been .9042 and next resistance is at .9065, an hourly high from March 17th.

UK PRESS: City bankers have scoffed at the pay and…

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UK PRESS: City bankers have scoffed at the pay and terms being offered by the Treasury as it tries to recruit top-flight staff for the Asset Protection Agency, the Times reports. The APA, set up last year to oversee hundreds of billions of pounds in bad banking debts, is understood ...

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