Mar 26, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Russia central bank cuts rates

Posted:

Cuts benchmark refi rate by 25 bps, to 8.25% from 8.50%, 12th cut in a year.

Merkel: Pleased with outcome of talks on support mechanism

Posted:

Important that euro remains stable Euro bulls have tripped stops above 1.3350 and we've been as high as 1.3375 so far, presently at 1.3365.  Been talk of hedge funds buying. Elsewhere Greek/German 10 year government bond yield spread has tightened to 309 bps from 320 bps at settlement close Thursday, while Greek stocks ...

China Vice Minster Liu: Should keep major currencies stable since financial crisis not over yet

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As a responsible nation, China must maintain stable yuan. Well, yes ofcourse.

ECB: E43.469 Bln Covered Bond Purchases Settled Mar 25

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FRANKFURT (MNI) - The European Central Bank said Friday that a total of E43.469 billion Eurosystem covered bond purchases had settled as of March 25. As of March 24, settled acquisitions had totaled E43.322 billion, the ECB said Thursday. The ...

New BOJ board member Miyao: Will maintain very easy monetary policy

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Pushing down rates when economy picking up can stimulate growth (I'm saying nothing) No conclusion reached on if QE is effective in boosting economy Must ensure discipline in fiscal, monetary policy Japanese economy picking up significantly Japan price falls likely to continue Japan job, household income conditions severe Worries about fiscal deficits growing in many countries There ...

French March consumer confidence worse than expected

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Has come in at -34, down from -33 in February, and worse than median forecast of -32.

Cable having opened firmer, slips back early

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Cable having opened about half a cent firmer from the North American close Thursday down around 1.4820 has slipped back in early European trade, presently at 1.4840. Supports now lined up at 1.4800/05 and then more meaningfully at 1.4780/85 (1.4782 2010 low) Gotta think decent stops not far below latter level. Not ...

EUR/CHF opens firmer

Posted:

Presently up at 1.4290 from North American close Thursday down around 1.4260 amid talk of Swiss names buying.  Do they know something we don't, or are they just booking profits? Who knows, I don't.

Japan PM Hatoyama: All out effort needed to beat deflation

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Looks like Japanese government is going to keep on BOJ's case,possibly pressuring it into easing monetary policy further.

Repeat:House Passes Reconciliation Bill;Obama To Sign Into Law

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--Retransmitting Story Published 21:41 ET Thursday --House Approves Final Health Bill on 220 to 207 Vote --Senate Passes Bill Earlier On 56 to 43 Vote --Year-Long Health Care Debate Ends With Historic Laws By John Shaw WASHINGTON (MNI) - The House passed Thursday evening the health care reconciliation bill ...

Interest bill on Uk government debt set to soar

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More than 10p in every pound of tax Britons pay will within four years go straight on the government's ballooning debt interest bill.

China PBOC Vice Gov Hu: China’s monetary policy remains appropriately easy

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Policy stress this year is on "appropriately" Should be a steady supply of money and credit Goal this year is for more balanced lending To focus on channeling credit to key sectors Key tasks include maintaining sound growth, managing inflation expectations.

EUR/USD rallies back, Trichet comments cited

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EUR/USD has finally managed something resembling a decent bounce. Having closed out around 1.3280 in North America Thursday it's presently back up at 1.3343. The trigger for the short covering rally seems to have been Trichet.  The ECB's head honcho has come out endorsing the Greece aid plan, his comments in contrast to ...

ForexLive Asian market wrap: EU and IMF to the rescue

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Details emerge of rescue plan for Greece to be funded 2/3rd by EU and 1/3rd by IMF Mechanism will only be triggered if Greece cannot get market funding Full text of Euro Zone leaders comments Trichet: goal of price stability hasn't been compromised Japan: core CPI -1.2% YoY RBA Stevens: exchange rate stability good for ...

EUR/USD Short Covering Continues

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EUR/USD is having another topside spurt trading up to 1.3338 as further short covering kicks in. Conciliatory comments from Trichet earlier this morning (opposed to his very, very bad remark overnight in terms of the IMF assisting Greece) kicked off the buying and it may not be over. The market ...

China Bank Lending May Hit Yuan 1 trillion in March

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A story out on Reuters which emanates from the China Securities Journal says that China Bank lending may hit Yuan 1 trillion in March according to their sources. We all know bank lending is a big issue for China and 1 trillion is well up on February's 700mln reading. The ...

US House Passes Reconciliation Bill; Obama To Sign Into Law

Posted:

--House Approves Final Health Bill on 220 to 207 Vote --Senate Passes Bill Earlier On 56 to 43 Vote --Year-Long Health Care Debate Ends With Historic Laws By John Shaw WASHINGTON (MNI) - The House passed Thursday evening the health care reconciliation bill which was approved hours earlier ...

Mixed Session So Far – Mostly Position Adjustment

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It has been another'lazy' morning session in Asia with the days movements dictated by position adjustment ahead of theweekend.  Nobody wants to be on the wrong side of the usual bearish diatribe that emanates from the UK press every Sunday. As such a minor square up is underway. EUR/USD bounced sharply from around ...

Update: Japan Feb Core CPI -1.2% Y/Y (Jan -1.3%), Energy Down

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-- Adds Details From 26th Paragraph -- Japan Core CPI Posts 12th Straight Y/Y Drop -- Central Tokyo Mar Core CPI -1.8% Y/Y Vs Feb -1.8% -- Electronics Continue To Lead Japan CPI Declines -- Gasoline, Heating Oil Up But Overall Energy Costs Still Down TOKYO (MNI) - Japan's core ...

Slightly limited coverage this afternoon

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The market has steadied after the flurry of Euro Zone activity and the only activity of note has been some light AUD/JPY selling which is understandable given that it's Friday. I am involved in a charity event today and a colleague will fill in if anything important happens. Back to normal ...
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