Mar 30, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

UK’s Treasury: While upward GDP revision welcome, recent data from EU, elsewhere show recovery risk

Posted:

Cable regaining poise after brief post GDP release dip.  Presently at 1.5063.  Sources report talk of more stops gathered through 1.5080 and then decent-sized through 1.5130.

Germany Survey: 68% Of Citizens Against German Aid For Greece

Posted:

BERLIN (MNI) - A large majority of German citizens oppose a financial contribution from Germany to an aid package for Greece, making it harder for Chancellor Angela Merkel to agree to such a move should it become necessary. In a ...

UK Q4 GDP revised higher

Posted:

UK final Q4 GDP has been revised higher, to +0.4% q/q,-3,1% y/y from previous +0.3%, -3.3% respectively.  Cable sits at 1.5050.  Looks like some of the big players positioned for this improvement and are booking some profits.

UK Analysis: Q4 GDP Growth Revised Up On Stronger Services

Posted:

--Q4 GDP +0.4% q/q; -3.1% y/y; median +0.3% q/q; -3.3% y/y LONDON (MNI) - Economic growth in the UK was revised higher in the last quarter of 2009 as service sector output was revised up slightly, according to figures released by National Statistics ...

Greek/German 10 year government bond yield spread widens 14 bps on day to 335 bps, widest since March 24

Posted:

This little nugget will have helped take the wind out of the euro's sails.  EUR/USD is back down at 1.3480 having earlier posted session high 1.3539.  Aggressive EUR/GBP selling, with Uk clearer notable,  will also be underminning EUR/USD.

UK clearers buying sterling

Posted:

UK clearers have been notable buyers of sterling in recent trade, both in cable and EUR/GBP.  Cable's been as high as 1.5079, EUR/GBP as low as .8951.

Germany Confirms To Tap 1.00% Mar ‘12 Schatz By E6 Bn April 7

Posted:

FRANKFURT (MNI) - The German federal government will auction about E6 billion in a top-up of its 1.00% coupon March 2012 two-year notes (Schatzanweisungen) on April 7, the Bundesbank confirmed Tuesday. The formal tender offer ...

Encouraging poll news for Conservatives

Posted:

Latest Daily Express/Opinium survey shows Tories extending poll lead. This poll will be playing a part in sterling's strength this morning, cable presently up at 1.5075.

ECB: E43.782 Bln Covered Bond Purchases Settled Mar 29

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E43.782 billion Eurosystem covered bond purchases had settled as of March 29. As of March 28, settled acquisitions had totaled E43.549 billion, the ECB said Monday. The ...

Cable off highs

Posted:

Cable having posted 1.5059 session high has slipped back to 1.5040 at writing amid talk of Middle Eastern selling.

U.S. Fed’s Evans: Current monetary policy in U.S. is appropriate

Posted:

Inflationary concerns are minimal Very concerned about the state of unemployment Unemployment should come down to 5% with economic recovery Sees unemployment above 9% by end of year. At 8% by end 2011

Fitch: Europe’s aid deal for Greece involving IMF is positive, boosts Greece’s financing options

Posted:

But questions remain about Greece's growth prospects, whether it can stick to austerity plans

USD/JPY regains poise after brief dip in Asian trade

Posted:

USD/JPY sits at 92.45, effectively where it closed out Monday in North America, recovering from brief dip in Asia to session low 92.13. Not suprisingly talk of buy orders just ahead of 92.00, small stops just below.  Sell orders 92.80/00 and again at 93.40/50.

Analysis: Germany’s Feb Import Prices Rise More than Expected

Posted:

February: +1.0% m/m, +2.6% y/y MNI survey median: +0.5% m/m, +2.0% y/y MNI survey range: -0.1% m/m to +0.6% m/m January: +1.7% m/m, +1.4% y/y (unrevised) FRANKFURT (MNI) - ...

German import prices stronger than expected

Posted:

German February import prices have come in at  +1.0% m/m,  +2.6% y/y, stronger than expected  +0.4% m/m, +2.0% y/y

Germany Govt Econ Advisor Doesn’t Expect EMU Inflation Spike

Posted:

BERLIN (MNI) - Peter Bofinger, a member of the German government's council of independent economic advisors -- the so-called five wise men -- does not expect rising government debt to produce a spike of inflation in the Eurozone. "I think this ...

UK Nationwide: House Prices Rebound In March

Posted:

--Nationwide: UK Mar House Prices Up 0.7% m/m; Up 9.0% y/y --Nationwide: Jan-Mar House Prices Up 1.6% 3m/3m Vs 1.8% in Dec-Feb ...

UK Nationwide house prices better than expected

Posted:

Have come in at +0.7% m/m, +9.0% y/y, better than median forecasts of 0.2%, +8.2% respectively. Cable meanwhile has extended rally. Stops tripped above yesterdays 1.5019 high. We've been as high as 1.5043 so far.

Repeat: US’s Geithner: On ‘Verge’ of Sustained Job Creation

Posted:

--Retransmitting Story Headlined 16:13 ET Monday --Dollar Peg 'Makes Sense' For Small Economies like Hong Kong --New Govt Small-Bank Lending Program Would Help Weather Comm Real Est --Left Choice of Citi Stock Sale Underwriter to Others --Not Going to Re-Create the Old Fannie and Freddie --Repeats, Providing Capital Necessary to Fannie/Fred,'Past and Future' ...

Cable pops over 1.5000…….again

Posted:

Cable has just popped over 1.5000 as European trading gets underway.  Yesterday saw a session high 1.5019 posted before a major US bank stepped in to ruin the cable bull's party.  There was also talk yesterday of sell orders up at 1.5040/50, which I would suspect are probably still in attendance.  ...
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