Apr 12, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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China FX reserves $2.45 trillion

Posted:

Surely a wee 3% here or there shouldn't make too much difference!! (Editor: apologies for the technical issues but Mr Anderson will continue to use Mr Lee's log-in until we can sort out the problem)

EUR/JPY on the March Higher

Posted:

EUR/JPY apperas to be basing around 127.00 in early European trade preparing itself for another stab at the days high of 127.46. Early trading has been pro US Dollars but once the "dust settles", Euro crosses are expected to gain as further short covering gets underway. Euro crosses are well supported across the ...

ECB: Financial Markets Not Yet Fully Normal; Vigilance Needed

Posted:

PARIS (MNI) - Financial markets are not yet completely back to normal, and the European Central Bank must still keep a watchful eye and remain active in the market, the ECB said in its fourth annual Report on Financial Integration, published Monday. ...

EUR/USD Continues to Edge Lower

Posted:

EUR/USD has continued to slide in Europe this morning but has run into reported bids in the 1.3600/10 area. The low off the early Europe high of 1.3699 (option protection at 1.3700 and sovereign offers beyond) has been 1.3601 with  a move below 1.3580 likely to enamour the plethora of Euro ...

ECB: E46.105 Bln Covered Bond Purchases Settled Apr 11

Posted:

FRANKFURT (MNI) - The European Central Bank said Monday that a total of E46.105 billion Eurosystem covered bond purchases had settled as of April 11. As of April 8, settled acquisitions had totaled E45.475 billion, the ECB said Friday. The ...

Japan MOF Kan: Tax Hike Could Beat Deflation If Spent Right

Posted:

TOKYO (MNI) - Japanese Deputy Prime Minister and Finance Minister Naoto Kan on Monday said a tax hike could actually help the country beat deflation if a resulting higher tax revenue is spent on creating jobs, which in turn should boost spending. ...

AUD/USD Reverses Course Pressured by EUR/AUD Short Covering

Posted:

AUD/USD dipped below 93 cents a few minutes ago reversing sharply from its early Sydney highs today of 0.9389. After closing in NY on Friday around 0.9330, AUD/USD charged higher in line with the sharp move up in EUR/USD.  The AUD/USD  could no go on with however sucumbing to pressure ...

EUR/USD dips after Failing First Attempt at 1.3700

Posted:

After touching 1.3699 a short time ago, EUR/USD has drifted back to 1.3640after failing to gain a foothold above 1.37. Traders say sovereign offers are lined up above 1.37 but equally, since the sharp rally on the Sydney open, EUR/USD has held 1.3620 remembering we closed in NY on Friday ...

EUR/USD dips after Failing First Attempt at 1.3700

Posted:

After touching 1.3699 a short time ago, EUR/USD has drifted back to 1.3640after failing to gain a foothold above 1.37. Traders say sovereign offers are lined up above 1.37 but equally, since the sharp rally on the Sydney open, EUR/USD has held 1.3620  remembering we closed in NY on Friday ...

EUR/USD close to highs heading into European open

Posted:

Gerry is on a well deserved weeks break and his colleague Peter will be covering, so if he stuffs up give him a hard time! Good luck and see you tomorrow.

ForexLive Asian market wrap: heavy short covering in the EUR

Posted:

EUR gaps higher on the interbank open after renewed Greece rescue deal Increase in imports leads to Chinese trade deficit Minutes for BoJ March meeting released Financing for Australian owner occupiers falls more than expected Latest UK polls suggest a Tory win RBA: small business interest rates now at decade average Nikkei gains 1%, Gold rises ...

Latest poll figures should benefit GBP in early European trade

Posted:

The latest polls on the upcoming UK general election suggest that the Tories could well win an outright victory. This is seen as being generally positive for the GBP and with technical traders also likely to be looking to buy, the outlook for cable heading into the European open looks ...

USD/JPY: depends on the crosses

Posted:

I'm, generally speaking, a bear when it comes to USD/JPY. I've made a fair bit of money over the last few years selling this pair and it's pretty hard to get over this bias. Historically speaking, we are at quite low levels so I don't want to get carried away ...

Technically, USD looks set for a down phase

Posted:

Double bottoms in EUR/USD and cable and bullish breaks in AUD/USD and Gold after periods of consolidation, these factors cannot be ignored and with all four taken together it really does look like we should be preparing ourselves for a bearish USD phase. Breaks above .9410 in the AUD/USD and $1225 ...

Nikkei +1.2%, EUR/JPY stays above 127.00

Posted:

Very little dip in the cross so far today after the big gap higher on the open. All of the EUR crosses are getting the same short-covering treatment with EUR/CHF also making solid gains. I don't think the EUR is out of the woods by any stretch of the imagination ...

Australian economy: owner-occupied housing finance -1.8% MoM

Posted:

This is a bigger decrease than the expected 1% and may be showing that the RBA's policy of raising interets rates is having some effect on the hot property market here in Australia.

AUD/JPY: close to major technical resistance

Posted:

The 61.8% retracement of the big fall from 107.95 to 55.05 comes in around 87.90. This was also a formerly important pivot level. The high so far today has been around 87.35, closing in on last weeks high at 87.50.

Update: BOJ Mar Minutes: Dissenters: Extra Pol Not Justified

Posted:

--Adds Details, Background From 10th Paragraph TOKYO (MNI) - Two Bank of Japan policy board members judged that it was not appropriate to conduct additional easy policy as Japan's economy continued moving in line with the view that the board has predicted, the minutes of the ...

Japan Mar Bank Lending -2.0%, 4th Y/Y Drop In Row; Feb -1.6%

Posted:

TOKYO (MNI) - Outstanding loans by Japanese banks fell 2.0% in March from a year earlier to Y401.13 trillion, marking the fourth consecutive y/y drop after -1.6% in February in payback for sharp gains in lending about a year before when the global crisis paralyzed ...

RBA Asst Gov Debelle: small business interest rates at average

Posted:

The assistant governor of the RBA is on the newswires saying that interest rates for small businesses are now at around their average level for the last decade. Looks like they are getting closer to the 'normality' that they've been seeking.

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