Apr 5, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Bank of England urged to keep rates low

Posted:

The Bank of England monetary policy committee should keep interest rates low for foreseeable future and be prepared to extend its £200 bln QE programme, the "shadow" MPC says.   

USD/JPY steady at higher levels

Posted:

USD/JPY sits at 94.50, steady at higher levels.  Talk of Japanese exporter sell orders, among others,  lined up at 94.80/00.  Barrier option interest noted at 95.00. Stops seen through 95.10. On downside, talk of decent-sized stops through 93.80.  Probably some placed just below 94.00 as well.

Russia central bank moves intervention level to 33.75 roubles/basket from 33.80

Posted:

After buying around $700 mln dollars.

US 10 year treasury yield hits highest in nearly 10 months

Posted:

The yield on benchmark 10-year U.S. treasury notes hit 3.952 in Asia,  highest level since June 11, 2009.  Helping lend greenback general support. EUR/USD has slipped to 1.3487.

Germany must save less and consume more

Posted:

George Magnus. Economic View in The Times.

Deflation on the prowl as Bernanke shuts down his printing press

Posted:

Latest from AEP at The Telegraph.

Brown urges deficit-cut delays amid slide in British polls

Posted:

British PM Brown, sliding in polls as he prepares to call a general election, says a victory by the opposition Conservatives would risk tipping the economy back into recession.

EUR/USD back towards 1.3500

Posted:

More terrorist bombings in Russia may be contributing to the mild sell-off in EUR/USD, which has fallen back 20 pips in the last 30 minutes. There have been two blasts reported in the last hour or so.

ForexLive Asian market wrap: USD gives up some gains

Posted:

US Treasury report on 'currency manipulation' gets pushed back Sterling makes early gains on new polls showing increased Tory lead Nikkei sees new 18-month high, oil above $85/bbl Cable gapped 70 pips higher in early interbank trade on the back of the latest election poll results. EUR/GBP triggered stops below .8840 and GBP/JPY ...

FX markets quiet; most of European markets closed today

Posted:

It looks like much of the action has been done for the day and with most of Europe also closed today, it's unlikely that any major moves will happen before NY opens in about 10 hours time. I'm popping out for a quick lunch and will post a session wrap ...

Around the markets: Nikkei makes fresh 18 month highs

Posted:

The Nikkei is +0.5%, the Kospi is -0.3%, Gold is steady at $1126/oz and oil has gained another 1% to $85.65/bbl.

Citi Techs going long Gold

Posted:

This is more of a medium term play, they have gone long Gold at $1124.50, with a s/l at $1084 and a profit target above the all-time high at $1226.

BOJ Mar Tankan Followup: More Firms Said CP Issuance Easier

Posted:

TOKYO (MNI) - More firms reported in March that it was easier to issue commercial paper than three months earlier, a followup poll for the Bank of Japan's quarterly Tankan survey released on Monday showed, an indication that corporate funding continues improving, at least for ...

USD continues to slip; USD/JPY profit taking to blame

Posted:

There have been no major developments over the weekend or this morning which could be interpreted as USD-bearish so the drift lower in the greenback this morning is more than likely due to profit taking on the USD/JPY. As the JPY crosses remain inherently well-bid, this is helping other pairings ...

AUD/USD grinding through offers in 92.10/20 region

Posted:

With much of the Australian market closed for the long Easter weekend, liquidity is a little less than normal but there is nonetheless a fair amount of AUD/USD changing hands between 92.10/20. If this grind higher continues, then the stops above 92.50 will become very enticing for dealers in these ...

EUR/JPY, AUD/JPY made important technical breaks last week

Posted:

Both EUR/JPY (inverted H&S) and AUD/JPY (new interim high) have made important technical moves in the last week and buying dips still looks like the way to go on the crosses. GBP/JPY has broken above a previous resistance level at 143.60 and is also starting to build some impressive bullish ...

Market steadies, GBP maintaining strength

Posted:

The initial gap higher in the pound after the weekend poll results is the only noteworthy move on this Monday morning, with the other majors sitting quietly near their Friday closing levels. We now await the Tokyo open in a little under an hour for further momentum. The Nikkei is ...

Looks like progress being made between US and China over Yuan

Posted:

As Jamie mentioned earlier, the US Treasury department has delayed the so-called 'currency manipulator' report which was due on April 15th. The Chinese president will visit Washington on April 12-13 and perhaps there are some understandings beginning to develop that China will allow the Yuan to appreciate sometime very soon.

EUR/CHF: SNB turned up as expected

Posted:

I mentioned last week that the big Swiss banks 'expected' the SNB to intervene in the EUR/CHF around 1.4200. Little wonder that the big banks make such massive profits out of Foreign Exchange. Sure enough on Friday night the SNB came in and spooked the market higher from 1.4150 to ...

USD/JPY: technical resistance looming at 95.10

Posted:

The 61.8% retracement of the 101.40/84.80 downmove comes in at 95.10 and that is the next major technical resistance level. We have now broken above the overnight high at 94.70 and look set to test this golden Fibo in the next few hours.
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