Apr 23, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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European Stocks Performing Well – Dax +1.2%. FTSE +1.0%. Cac +0.6%

Posted:

AUD/USD: Now 50 points above its Low

Posted:

AUD/USD has recovered strongly off its earlier low. Sure it has been helped by the Euro recovery but the earlier selling on the RBA comments was overdone. Seems weak shorts have been stopped.

EUR/USD: Finally Something Conclusive

Posted:

Much of the Euros weakness has been due to the markets perception that Greece (and the rest of the EU for that matter) has been dithering on the aid package. At least we may be getting some concrete action now. It is Friday so more short covering may be in ...

Media says Greece to ask for EU/IMF Aid at 0900GMT

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EUR/USD trades up to 1.3319 on headline.

EUR/USD: Having another go at the Topside Helped by EUR/GBP Move

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EUR/USD has just posted a fresh high for the day at 1.3299. The pair got a filip from the UK GDP data gaining 25 pips in EUR/GBP with players in London now mentioning Middle East buying.; last at 1.3292.

UK Q1 GDP Slightly Weaker than Expected

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GBP/USD has come off from 1.5380ish to 1.5340ish on the weaker than expected rise in Q1; last at 1.5350. GDP. EUR/GBP jumped 25 pips and now at the highs of the day - last 0.8656.

UK Analysis: Preliminary Q1 GDP Growth Hit By Poor Weather

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--Q1 GDP +0.2% q/q; -0.3% y/y; median +0.4% q/q; -0.2% y/y --Q1 Growth Below Latest Implied BOE Forecast Of +0.7% q/q; -0.06% y/y LONDON (MNI) - The UK economy continued to grow in the first three months of the year, but at a slower rate than in ...

Germany SPD Willing To Support Govt On Possible Greek Aid

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BERLIN (MNI) - Germany's main opposition party, the center-left SPD, is willing to support the government in financial aid for Greece if it informs parliament quickly and allows enough time to deliberate, one of its key leaders said Friday. SPD ...

EUR/USD: Starting to Ease after Earlier Spike to 1.3290

Posted:

Looks like a few players have got a get out of jail free card today with stops triggered above 1.3265 and better than expected IFO data taking the single currency to 1.3290. Seems we haven't got any of those bearish bond market stories yet which is squeezing a few weak shorts. ...

EUR/USD: Elliot Wave Guys Calling for a Move to 1.1440

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Well respected technical analyst Max McKegg says the break below 1.3265 now signals a resumption in Euro's bear market for which the bigger picture forecasts an eventual decline to 1.1440. His initial target is the 1.2335/1.2465 support area. Probably not much use to day traders but as they say, the ...

Germany Seeks Bids On E4 Bln New 12-Month Bubills;Sale Apr 26

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FRANKFURT (MNI) - The German federal government is seeking bids on a sale of new 12-month bubills with an expected volume of E4 billion, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, April 26. The announcement ...

Scary Friday

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The market has a bad feel about it - the downside action in EUR/USD yesterday was relentless. The stop loss run in Sydney to 1.3201 shows up as a vertical line on the one-minute chart! Players in London are already saying liquidity is poor - no one wants to play. ...

AUD/USD: Still under pressure in early London

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AUD/USD remains under pressuring just putting in a fresh intraday low at 0.9184. We are now only 27 pips off Mondays low at 0.9157 after having dealt to 0.9339 in between. There has been talk of large AUD put buying through the option market today but I would not like to ...

ECB: E48.245 Bln Covered Bond Purchases Settled Apr 22

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FRANKFURT (MNI) - The European Central Bank said Friday that a total of E48.245 billion Eurosystem covered bond purchases had settled as of April 22. As of April 21, settled acquisitions had totaled E47.937 billion, the ECB said Thursday. The ...

USD/CNY: Deliverable (Onshore) Forwards See More Heavy Selling

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Heavy selling in deliverable (onshore) forwards was again prevalent in Asia today. Players say customers feel that a change in Yuan policy is imminent and they have stepped up their hedging activity. Surprisingly though non-deliverable forwards (NDFs) were steady with short covering still noticeable around 6.60 in the 1-yr. As stated ...

EUR/USD: Stops Tripped on Sydney Open then Nothing

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EUR/USD crumbled in early Sydney trade. The pair closed in NY at 1.3294 and after drifting down to 1.3265 a large German bank hammered the bids taking the stops out just below 1.3250. No one got a chance to cover and when the pair paused briefly at 1.3220, other major ...

AUD/USD: Below 92 Cents on RBA Comments

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AUD/USD has continued to tumble in the wake of Governor Glen Stevens comments earlier today that rates are close to average. This obilque comment has caused a paring of long positions as players wind back expectations of a rate hike at May's meeting. Given that the RBA has raised rates ...

EUR/GBP bounces 15 pips immediately into Europe

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This suggests to me that the rumoured bids around .8600 are in fact live. The pair has bounced from .8608 to .8623 as soon as Europe came in. Resistance around the .8640 opening level will probably contain this mini rally.

EUR/USD, EUR/JPY and EUR/GBP; key levels in early European trade

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It's going to be all about the EUR as Europe gets ready to close it's trading week. There were obviously some firm bids ahead of 1.3200 which halted this mornings sell off and they will likely be tested again in early trade. Below there and more stops are reported below ...

ForexLive Asian market wrap: early sell-off in EUR, quiet thereafter

Posted:

General negativity surrounding Greece remains key factor EUR gaps 50 pips lower in early trade on stop-loss sales Greek credit spreads continue to blow out Ireland, Spain and Portugal following suit No clear winner of second UK election debate RBA's Stevens says rates close to average Australian export prices +3.8% in Q1, import prices +0.3% Regional stockmarkets ...
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