Apr 14, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Stops above 1.3700 in EUR/USD said to be Huge

Posted:

London is full of gossip this morning with traders saying stops placed above 1.37 are huge. Some are thinking that the Greece problem can be put on the backburner for a little while so shorts maybe in for a good old fashioned squeeze at some stage. Looking ahead Bernanke speaks tonight ...

C/Bank Seen Buying GBP/USD this Morning

Posted:

Traders are suggesting an Asia central bank has been seen buying GBP/USD from just below the figure. Nothing untoward here, it happens nearly every day with Asian c/b's buying US Dollars in order to keep the local currency weak then recycle the (unwanted) US Dollars into Euro, GBP, AUD etc. Reuters ...

EUR/USD Consolidating Before the Next Leg Up

Posted:

EUR/USD has lost a little ground in London this morning but not enough to put a dent in my outlook. Euro skeptics rule in London but in other timezones we witness some decent rallies. In Asia we got as high as 1.3666 before being overwhelmed by sell orders. Those orders ...

AUD/NZD Back in Focus after More Poor Kiwi Data

Posted:

After trading below 1.2940 yesterday, AUD/NZD finds itself today back up at near decade highs around 1.3100. The pair recovered overnight back to 1.30 but it was today's release of much worse than expected retail sales numbers in NZ that took the pair up another big figure. This is a cross ...

Finland To Tap Sept 2014, July 2025 RFGB Issues On Apr 20

Posted:

LONDON (MNI) - Finland's State Treasury announced Wednesday that it will tap the 3.125% Sept 2014 RFGB and 4.00% July 2025 RFGB issues on Tuesday April 20. In an emailed press statement, the Treasury said the total maximum size will ...

Germany:Academics To Challenge Greek Aid In Const Court;Press

Posted:

BERLIN (MNI) - German economics professor Joachim Starbatty together with constitutional law expert Wilhelm Hankel and other academics will challenge before the German Constitutional Court the financial aid promises made by Germany and the other Eurozone member states to Greece. ...

ECB: E46.390 Bln Covered Bond Purchases Settled Apr 13

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FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E46.390 billion Eurosystem covered bond purchases had settled as of April 13. As of April 12, settled acquisitions had totaled E46.208 billion, the ECB said Tuesday. The ...

Early Dip in GBP/USD Reversing Already

Posted:

In a typical knee-jerk reaction, early London players gave GBP/USD a nudge to the downside on the open in response to another opinion poll that showed the conservatives votehad shrunk with Labour likely to hold a majority of seats in a "hung" parliament. GBP/USD dropped smartly to 1.5380ish  (from 1.5420) but ...

Japan Average Regular Gasoline Price Up 6th Week In Row

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

What’s So Important about Singapore

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There will be more than a few people scratching their heads this morning wondering what is so important about Singapore. As it was when Australia started hiking rates last year the market took this as a sign that global economies were on the mend. Singapore now follows Malaysia in tightening in ...

EUR/JPY breaks above Monday’s high

Posted:

Next test is important resistance at 127.95. A clean break above could see some heavy shortcovering.

EMU Data: MNI Survey Of Econ Data Forecasts, April 14

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ForexLive Asian market wrap: Singapore revalues SGD

Posted:

The MAS revalues the SGD after raising growth and inflation forecasts USD/SGD falls 1% immediately and bounces have been limited Event leads to heavy buying of EUR/USD and other majors New Zealand retail sales falls unexpectedly, -0.6% against +0.2% expected Latest Australian consumer confidence index falls 1% Fed's Lacker sees need to withdraw stimulus carefully Chinese ...

Not quite sure what’s happening in the JPY crosses

Posted:

We've discussed these at length in the comments section and there are definitely some opposing forces at work. Regional equity markets are strong after the good Intel forecasts and the MAS and this is promoting the risk-on trade which is best played in the FX market through AUD/JPY. On the other ...

Market steadies as big flows dry up

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It's Tokyo lunch and the markets have quietened down after some frenetic activity. Some analysts are speculating that the MAS move means that they know something is about to happen in China. Obviously the market isn't thinking that way because the JPY crosses are being bought. The world economy is ...

Fed’s Lacker: Wary Re Infl; Less Comfort W/’Extended Period’

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By David Ryan MORGANTOWN, W.Va. (MNI) - Richmond Federal Reserve Bank President Jeffrey Lacker Tuesday night said the Fed needs to be careful not to allow inflation to accelerate as it uses new and old tools to withdraw its monetary stimulus. ...

Singapore Dollar revaluation driving major flows

Posted:

The Monetary Authority of Singapore (MAS) uses exchange rates rather than interest rates to coduct their monetary policy. As this Bloomberg report points out, by adjusting the band the MAS has strengthened the Singapore dollar by around 1%. This happened at 10:00 this morning, exactly the same time that the ...

Japanese accounts buying AUD/USD and AUD/JPY

Posted:

It's an exact mirror image of yesterday's trade. The AUD/USD is up 50 pips on the session and much of the buying has been coming out of Japan. EUR/USD has broken above 1.3650 as we speak and the EUR/JPY cross is testing the Monday high at 127.45 after perfectly closing ...

WestPac consumer sentiment falls 1%

Posted:

This is still a reasonably positive result given that mortgage holders have been encountering higher interest rates.
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