Apr 13, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Germany Sets Tender For E7 Bn Auction Of 5-Yr Bobls Apr 14

Posted:

FRANKFURT (MNI) - The German federal government set a 2.25% coupon on the E7 billion in new 5-year Bobls it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 09:00 GMT Wednesday, ...

Germany Bank Assn Expects GDP Grew Only Slightly In Q1 2010

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BERLIN (MNI) - The German Bank Association (BDB) expects that German GDP grew at best only slightly in the first quarter of the year, yet noted that the economic outlook has brightened over recent weeks. "By spring at the latest, ...

CLG: UK House Prices -0.1% M/M; +7.4% Y/Y; +2.9% Dec-Feb 3M/3M

Posted:

LONDON (MNI) - UK house prices fell 0.1% in February but were still 7.4% higher on the year, 'Communities and Local Government' announced today. The CLG said that prices were 2.9% higher in December-February compared with the previous 3-month period. ...

GBP/USD Jumps on better than expected Goods Trade Data

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The UK's goods trade gap narrowed sharply in February according to Reuters. It posted its smallest trade gap since June 2006. The trade gap fell to 6.2bln GBP in February from a consensus forecast of 7.3bln GBP. GBP/USD shot up from around 1.5350 to 1.5387; last at 1.5385.

UK Analysis: Feb Trade Gap Narrows Sharply As Exports Surge

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--Feb global goods deficit Stg6.179bn vs Stg8.066bn in Jan --Feb global goods/services deficit Stg2.061bn vs Stg3.904bn in Jan --Feb global goods deficit ex oil/erratics Stg6.17bn vs Stg7.516bn Jan --Feb global goods deficit median forecast Stg7.4bn; total Stg3.2bn LONDON (MNI) -- The UK's goods trade deficit with the world narrowed ...

Greece to Test the Water with a T-bill Auction in around 45 minutes

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Greece is to auction 1.2bln short-dated T-bills in around 45 minutes with players to be closely watching the result.  It will be the first test for the weekends Greek rescue plan and may be enough to stimulate sufficient investor demand to cover the auction. If that is the case, we could see further ...

Comments from Japan’s Ruling Party see’s USD/JPY Rush Higher

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Traders are blaming comments from Japan's ruling party contained in a  panel draft documnet for the sharp turnaround in USD/JPY and JPY crosses this morning. The "should try and keep FX level around 120" comment seems far fetched but the "need drastic monetary easing to wipe out deflation" comment seems ...

Early Europe Tries the Topside in EUR/USD

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After probing the downside in Asia in both EUR/USD and JPY crosses, early European players have quickly reversed the moves. Whilst USD/JPY had been the big mover, EUR/USD has traded up to 1.3620 with seemingly massive bids below 1.3565 frightening off sellers at the moment. EUR/USD has drifted off to ...

ECB: E46.208 Bln Covered Bond Purchases Settled Apr 12

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FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E46.208 billion Eurosystem covered bond purchases had settled as of April 12. As of April 11, settled acquisitions had totaled E46.105 billion, the ECB said Monday. The ...

Japan Survey: Economists See Higher GDP, Deeper CPI Drop

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-- See Separate Tables For Details TOKYO (MNI) - Economists have revised up their forecasts for Japan's economic growth for the next couple of years while projecting slightly deeper-than-expected price drops through mid-2011 and a smaller decline afterward, according to the latest monthly survey by the ...

USD/JPY: back to where the day started

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USD/JPY opened the day at 93.25 and we are back there again. Sell orders at 93.50 should contain the rally but I suspect that London and NY may trade this pair a bit higher. That's me done for the day and its over to PA. See you tomorrow.

Ireland Will Have No Problem Raising E450mln For Greece Loan

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By Nick Shamim LONDON (MNI) - Ireland will have no problem raising additional money if it was asked to fund its contribution of E450 million for any Greek backstop package, the head of Funding & Debt Management at the National Treasury Management Agency (NTMA) said Monday. ...

Germany Coalition Member: Expect Greece To Ask For Fiscal Aid

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BERLIN (MNI) - Greece will make use of the financial aid offered by its EU peers and the IMF, according to one German lawmaker Norbert Barthle, the parliamentary budget policy speaker of German Chancellor Angela Merkel's center-right CDU/CSU bloc, expects that Greece ...

French March CPI +0.5% MoM

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The French February current account balance was -EUR3.6 bln from a revised -EUR4 bln in January.

Quick look at the order books

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EUR/USD: decent sized bids starting at 1.3565 down through 1.3500; similarly offers fairly solid starting at 1.3620, also around 1.3650 and 80. AUD/USD: decent sized bids .9200/20, heavy stops below .9190 USD/JPY: bids starting at 92.50/55 and down through 92.10/25. Stops below 92.00. Offers at 93.50, stops above 93.60 and 93.80, more ...

Sterling higher in early London trade after strong retail sales

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The GBP market is paying more attention to the retail sales data than to the house price data and cable has already broken above it's Asian high and EUR/GBP below it's Asian low. There was some talk earlier in the day of cable offers at 1.5405/10 which might slow down ...

Analysis:Germany Mar HICP Revised To +1.2% Y/Y From +1.3% Y/Y

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Final HICP March: +0.6% m/m +1.2% y/y Final CPI March: +0.5% m/m, +1.1% y/y --- BERLIN (MNI) - Germany's harmonized annual inflation rate rose 1.2% in March, the Federal Statistical Office said Tuesday, revising down its flash estimate of a 1.3% rise. ...

German March CPI 0.5%, as expected

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The annual inflation rate has been revised down to 1.2% per annum. No change in the EUR/USD, currently sitting at 1.3585 which is the middle of a quiet Asian 30 pip range.

JPY crosses start to bounce after gap-closing exercise

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The market shied away from testing bids in the USD/JPY at 92.50/55 and in the EUR/USD at 1.3565 with the result that EUR/JPY halted exactly at 125.70, which was a perfect closure of the gap between Fridays close and Mondays open. This will please many old technical analysts I'm sure. ...

France Data: MNI Survey Of Econ Data Forecasts, April 13

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