Mar 24, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/USD comes under renewed pressure

Posted:

The 1.3400 barrier option has been blown up tripping stops just below and we've been as low as 1.3366 so far, presently at 1.3380. Talk of buy orders down at 1.3350/60,  but one wonders how long they can hold back the tide. Obviously market will be well aware of sizeable 1.33-1.4300 dnt ...

Italian March consumer confidence falls

Posted:

To 106.3 from 107.7 in February. EUR/USD sits at 1.3417, trading between 1.3400 barrier option interest and aforementioned sell orders up at 1.3440/50.

Update:Germany Fin Min Hints Will Agree To IMF Aid For Greece

Posted:

--Adds Comments And Details To Story Sent At 07:51 GMT BERLIN (MNI) - German Finance Minister Wolfgang Schaeuble in a newspaper interview published Wednesday seemed to back down from his opposition to financial aid by the IMF for the ailing Eurozone member Greece. ...

German March PMI better than expected

Posted:

Manufacturing PMI 59.6, up from 57.2 in February, demonstrably better than median forecast of 56.8. Highest read since April 2000. Services PMI 54.7, up from 51.9 in February, demonstrably better than median forecast 52.2. Highest read since April 2008. Composite 58.5, up from 55.7 in February, highest since August 2007.

ECB: E43.161 Bln Covered Bond Purchases Settled Mar 23

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E43.161 billion Eurosystem covered bond purchases had settled as of March 23. As of March 22, settled acquisitions had totaled E42.863 billion, the ECB said Tuesday. The ...

French March PMI data mixed picture

Posted:

French March PMI is something of a mixed picture. Good news, manufacturing PMI rose to 56.3 from final 54.9 in February, demonstrably better than median forecast of 54.7.  Highest read since November 2006. Bad news, services PMI fell to 53.0 from final 54.6 in February, demonstrably worse than median forecast of 54.8. Composite ...

German FinMin Schaeuble: Better if euro zone can solve problems itself; going to IMF can only be exception

Posted:

Option of excluding state from euro can be option of last resort

Germany’s Fin Min Hints Will Agree To IMF Fin Aid For Greece

Posted:

BERLIN (MNI) - German Finance Minister Wolfgang Schaeuble in a newspaper interview published Wednesday seemed to back down from his opposition to financial aid by the IMF for the ailing Eurozone member Greece. "That a currency zone solves problems in ...

Tell me it ain’t so!!!

Posted:

David Cameron in Tory poll plunge shocker.  Oh-eh.

Alistair Darling to freeze income bands in “stealth tax”

Posted:

Labour government, stealth tax, who would have thunk it? Cable starts Budget Day on the defensive, dragged lower in part by the travails of the euro. We're at 1.4975 having closed out Tuesday in North American up around 1.5045.  Initial support from here 1.4950.

EUR/USD trying to regain a little poise

Posted:

As European trading gets underway,the  beleaguered euro is trying to regain a little poise after it's overnight swoon.   EUR/USD is back up at 1.3428 from session low 1.3408. Talk of sell orders up at 1.3440/50.  I'd hazard a guess trailing stops not far above there, but no confirmation of such as yet.

EU’s Rehn says EU must decide on help for Greece this week

Posted:

Might be a good idea, before this whole thing gets really outta hand Failure to decide on help for Greece could cause "serious disruption" for the euro By jove, I think he's got it.

EUR/USD: Struggling to Recover

Posted:

EUR/USD is still struggling late in the day following news of a questionable Handlesblat article that spread like wild fire across Asian trading desk a couple of hours ago. Talk now is that article goes back to January yet this has not bought out any fresh EUR/USD buyers with the pair ...

EUR/USD has a tough time in Asia

Posted:

EUR/USD has given up the best part of a big figure overnight in Asia, presently at 1.3415. Some attention being given to a Handelsblatt article in which EU ministers highly critical of the inner workings of the EU and the divergence among EU economies. having grave concerns about the so called PIGS.  ...

Asian FX market wrap: Euro weakness todays main theme

Posted:

New Zealand current account deficit 2.9% GDP, worse than expected Japan's Feb trade balance comes in at JPY 651 billion Regional stockmarkets gain about 0.5% on average Gold holding steady above $1100 EU Finance Ministers highly critical of inner workings of EU and the divergence amongst EU economies. EUR/USD closed in NY just below 1.3500 ...

EUR/USD Crashes lower on EU Article in Handlesblat

Posted:

EUR/USD has fallen sharply in the last few minutes following the release of an article in Handlesblat whereby EU Finance Ministers are reported to be critical of the inner workings of the EU and the divergence amonsgt EU economies - they stated they had grave concerns with the PIGS. EUR/USD dealt down ...

AUD/JPY technicals: possible H&S on daily chart

Posted:

The Head and Shoulders is a very powerful formation and when it forms it can signify an important top. AUD/JPY has been in a bullish phase for about 15 months now and the short term charts remain bullish. Nevertheless there is a possibility of a right shoulder forming somewhere close ...

EUR/USD – Major Support at 1.3430 Likely to be Tested Soon

Posted:

Asia has had a go at the downside in EUR/USD but the pair ran into support at 1.3445. The pair bounced back into the 1.3470s but as far as bounces go this was of the anaemic variety. This is sure to flag to the next session that the downside is ...

EUR/CHF technicals: break below 1.4300 a bearish event

Posted:

It's hard to justify selling at historic lows but it's also impossible to justify buying when a chart has broken through a floor, which EUR/CHF did on the fall below 1.4300. We are now in wave 5 of a longer term down trend and this move has scope to fall ...

Japan Feb Trade Surplus Y650.98 Bln Vs Y70.85 Bln in Feb 09

Posted:

-- Japan Posts Trade Surplus For 11 Months In Row -- Japan Feb Exports +45.3% Y/Y, Up 3 Months In Row -- Japan Feb Imports +29.5% Y/Y, Up 2 Months In Row -- Japan Feb Exports To US +50.4% Y/Y, Up 2 Months In Row -- Japan Feb Exports ...

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