Apr 30, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

EXTRA EXTRA, read all about it!!!

Posted:

Blimey that's a blast from the past.  Where did that come from?  For our huge foreign following that's a cry shouted by newspaper sellers over here (UK) back in the day. EUR/USD at 1.3312 having been as high as 1.3319.  Next batch of stops mentioned through 1.3335 and then there are supposed ...

ECB Nowotny: Can’t Compare Portugal’s Situation To Greece’s

Posted:

VIENNA (MNI) - The fiscal troubles Greece is currently in aren't comparable to those facing Portugal, European Central Bank Governing Council member Ewald Nowotny said Friday. Speaking at the Austrian National Bank, which he heads, Nowotny said, "When one looks ...

Probable eurogroup meeting of finance ministers this weekend on Greece – Lagarde

Posted:

Notihng like a good old meeting.  Elsewhere EUR/USD has tripped aforementioned stops through 1.3305 finally and we're up at 1.3315.  EUR/JPY stops just above 125.30 tripped also and we're up at 125.50. Lilac, bless her little cotton socks tells me Sean overnight mentioned sell orders in EUR/JPY up at 125.70 thru to 126.00

BOJ’s Shirakawa: No need for further easing now

Posted:

Japan economy taking steady steps towards end of deflation Wants to help private banks' own intiatives with new growth steps. Will talk with banks to formulate new steps Does not have quantitative target for new measures Effects of low interest rates are strengthening.  Will help autonomous domestic demand recovery ahead  No preset idea on ...

EBRD Head Warns Against Banks Absorbing Costs Of Greek Rescue

Posted:

BERLIN (MNI) - The president of the European Bank for Reconstruction and Development (EBRD), Thomas Mirow, warned Friday against making banks shoulder part of the aid for Greece because this would weaken them again. "Therefore a bailout that would include ...

China banking chief says sovereign debt worries are continuing to grow in western countries

Posted:

Hard to argue with that little pearl of wisdom.  Other nuggets On the domestic front;  increasingly difficult to manage country's inflationary pressures Country's banks facing more uncertainties Mounting risk in property sector, local government financing

SNB Hildebrand: Some EMU State Public Finance Pose A Big Risk

Posted:

FRANKFURT (MNI) - Worrisome public finances in some Eurozone countries pose a risk to Switzerland's overall positive outlook and keep the central bank poised to prevent an excessive appreciation of the Swiss franc against the euro, Swiss National Bank President Philipp Hildebrand said Friday. ...

USD/JPY touch firmer, underpinned by EUR/JPY buying. Sell orders, stops noted

Posted:

USD/JPY up at 94.15 from early 94.00, garnering underpinning from decent buying of the EUR/JPY cross this morning.  The cross is up at 125.15 from early 124.60.  Talk sell orders now 94.20 through to 94.40, with stops just above there.

Well its month end once again…..

Posted:

And with that comes month end flows. Here's what hearing so far. Talk fix demand for aussie, sterling, euro. Rumour euro demand could be to the tune of 4 bln.  This would not  necessarily be contained to EUR/USD and figure could ofcourse be exaggerated.  But that's what is out there.  EUR/USD  presently at 1.3293, slightly down from ...

ECB: E50.043 Bln Covered Bond Purchases Settled Apr 29

Posted:

FRANKFURT (MNI) - The European Central Bank said Friday that a total of E50.043 billion Eurosystem covered bond purchases had settled as of April 29. As of April 28, settled acquisitions had totaled E49.646 billion, the ECB said Thursday. The ...

Irish debt agency NIMA official: In comfortable funding position, can easily skip a monthly auction without any worries

Posted:

Wouldn't cause us any problem to skip a couple of months of bond auctions Another little bit of encouraging news. EDIT:   EUR/USD at new session high 1.3299. Talk of more stops through 1.3305.

France market watchdog head tells radio thinks EU Greek plan to be unveiled tonight or over weekend

Posted:

EUR/USD makes new session high 1.3274. Says Greece will not default.  Speculators will lose out. Talk that China has been buyer of EUR/USD in recent trade.  Middle Eastern names also seen buying. We've tripped stops through 1.3280 and been to 1.3291 so far.

Portugal main opposition party leader: Will guarantee financial stability, back austerity measures in parliament

Posted:

"Very committed" to Portugal's political stability, in no hurry to get to power Proposed extra measures to PM that would cut 2010 budget gap to 7.3%/GDP vs 8.3% goal "Realistically" optimistic about pact with govt on extra measures in coming weeks

French March producer prices +0.6% m/m

Posted:

Exactly as expected.  EUR/USD touch firmer, but sell orders at 1.3270/80 still capping topside so far.

Barclays posts 29% rise in profit on investment bank

Posted:

Nice numbers from Barclays.  Won't have done sterling's cause any harm.  Cable up at 1.5375. EDIT:  Hedge fund notable buyer of cable this morning.

German DIHK industry assn leader: Weaker euro due to Greece “not a huge problem” for German industry

Posted:

Slow start in Europe.  EUR/USD at 1.3253 hardly changed from 2 hours ago.

Spain EconMin: Spain will not have to ask for help

Posted:

Spain's Economy Minister Salgado says Spanish debt is under control and Spain will not have to ask for help like Greece. Salgado told Spanish newspaper Cinco Dias that government's plans to reduce the budget deficit are in full flow and will achieve budget targets, adding that government spending should be even ...

Cameron saves best for last

Posted:

David Cameron gave his most assured performance in the final tv debate.  Bookies still favour hung parliament though. Latest Ladbrokes odds below Coservatives overall majority 11/8.  Labour overall majority 20/1. Lib Dems overall majority 25/1. No overall majority/hung parliament 4/6 Cable meanwhile sits at 1.5325, effectively where it closed out Thursday in North America.

EMU Data: MNI Survey Of Econ Data Forecasts, April 30

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EUR/USD eeks out some very marginal gains in Asia

Posted:

EUR/USD up at 1.3250 having closed out down around 1.3230 in North America Thursday. Trade overnight in Asia hasn't been terribly exciting with pairing confined to 1.3226-1.3265 range. Pairing underpinned by reports Greece has agreed outline of euros 24 bln budget consolidation package, designed to reduce budget deficit by 10-11% of GDP ...

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