Apr 7, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone Q4 GDP revised down slightly

Posted:

To flat q/q from previous +0.1%.

Analysis: EMU February PPI Up 0.1% M/M On Most Categories

Posted:

Industry producer prices excluding construction: February: +0.1% m/m, -0.5% y/y MNI survey median: +0.2% m/m, -0.4% y/y MNI survey range: -0.2% to +0.6% m/m January: ...

UPDATE:UK CIPS Services PMI: Jobs Growth For 1st Time In 2 Yrs

Posted:

--Confidence At Highest Since Sept 2009; See Continued Recovery --Input Costs Rise But Competition Preventing Pass-Through So Far --Output Price Inflation At Lowest For 2010 So Far --Economist Suggests Survey May Show Too Rosy A View Of Recovery LONDON (MNI) - UK services maintained their solid rate of recovery ...

UK CIPS Services PMI Shows Jobs Growth For 1st Time In 2 Years

Posted:

--Confidence At Highest Since Sept 2009; See Continued Recovery --Input Costs Rise But Competition Preventing Pass-Through So Far --Output Price Inflation At Lowest For 2010 So Far LONDON (MNI) - UK services maintained their solid rate of recovery through March although the pace of growth eased from February's ...

Well……..

Posted:

EUR/USD sits at 1.3382, exactly to the point where it was when I turned up about 4 1/2 hours ago.  Here's what we got flow-wise.  Talk buy orders 1.3350/60, stops through 1.3340.  Sell orders 1.3420/30, stops through 1.3450.  Summertime, and the living is easy, fish are jumping and the cotton is high....... OK ...

UK March services PMI disappoints

Posted:

Comes in at 56.5, down from 58.4 in February and below median forecast of 58.0. Cable has fallen back on the data, presently at 1.5235.

Euro zone final March services PMI at 54.1

Posted:

Up from 51.8 in February and better than flash estimate of 53.7.  Highest since November 2007.  Composite PMI 55.9, up from 53.7 in February and better than flash estimate of 55.5. Highest since August 2007. Data lending underpinning to euro, EUR/USD presently 1.3387.

Italy March services PMI better than expected

Posted:

Has come in at 55.3, up from 50.8 in February.  Better than median forecast of 51.5 and highest read since October 2007.  Way to go Italy!!!

BOJ Gov Shirakawa: Sees some signs of sustainable economic recovery

Posted:

CAPEX expected to increase ahead Do not think yen carry trade growing in any major way BOJ's economic view somewhat more positive than before No direct link between monetary and fiscal policies Sustainability of economic pick up becoming clearer Corporate profits improving steadily Risk of double dip recession quite small Tankan showed inprovement in sentiment broadening Improvement in ...

ECB: E44.890 Bln Covered Bond Purchases Settled Apr 6

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E44.890 billion Eurosystem covered bond purchases had settled as of April 6. As of April 5, settled acquisitions had totaled E44.427 billion, the ECB said Tuesday. The ...

Mumbai: US. Treasury Secretary Geithner: China’s yuan to take on broader role internationally

Posted:

Role for yuan is "healthy, necessary adjustment" US trying to generate global support for shifting growth more to domestic sources Timing of yuan report decision reflects U.S pursuing its interest as a country Rise in US treasury reflects confidence, more willingness to take on risk Market shift back towards more risk is healthy "necessary ...

EUR/CHF steady steady steady………

Posted:

Will this cross ever move again I hear you ask.  Who cares is my reply. No mustn't be frivilous, I'll get told off.  Just been reading some comments on Reuters regarding the cross. Credit Suisse analysts apparently think the cross will trend lower over a one-month horizon to their 1.4200 target. Meanwhile a ...

China said to resume 3 year bill sales

Posted:

PBOC will sell 3-year bills tomorrow for first time since June 2008.  May be precursor to first increase in benchmark lending rates in more than two years and allowing yuan gains.

Japan Average Regular Gasoline Price Up 5th Week In Row

Posted:

TOKYO (MNI) - The average price of regular gasoline in Japan this week rose to ...

Bank of Korea suspected of buying dollars near KRW 1,121 – traders

Posted:

If that's infact the case, we can expect the central bank to turn up buying EUR/USD in the not too distant future, ala reserve diversification. Meanwhile EUR/USD has slipped to session low 1.3369 at writing.

Weak government may be our strongest option

Posted:

In a hung Parliament the toughest economic decisions would have the backing of the majority of voters.  Thoughts from Anatole Kaletsky in The Times.   Oh well, one way of looking at it.

EUR/USD marginally easier in Asian trade

Posted:

EUR/USD sits at 1.3380, marginally easier from a North American close Tuesday up around 1.3400 with Asian trade seeing price action restricted to a conservative 1.3374-1.3408 range. Euro zone data due today: 07;45 GMT: Italian services PMI for March expected 52.0 from 50.8 07;50 GMT; French services PMI for March (final) expected 53.0 07;55 GMT: ...

Germany Data: MNI Survey Of Econ Data Forecasts, April 7

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...

ForexLive Asian market wrap: Yuan will Yuan won’t

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Market readies itself for shift in Yuan valuation BoJ keeps rates at 0.1%, stays with easy monetary policy China issues conciliatory statements regarding it's relations with US Chinese central bank adviser says rates may rise in Q2 Generally favourable economic data for the UK on food prices, permanent employment positions and services/manufacturing productivity Regional stockmarkets ...

Possible effects of a Yuan revaluation

Posted:

This is a fairly popular question so I'll give you my opinion on the possible effects plus any historical experiences to back this up. The last time that China adjusted the Yuan valuation band and allowed their currency to start appreciating was back in 2005. USD/JPY and the JPY crosses in ...
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