May 5, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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CIPS: UK Construction In April Highest Since Sep 2007

Posted:

--CIPS UK April Construction Rises To 58.2 Versus 53.1 In March ...

EU Comm Forecasts Show PIGGS In Excess Of Deficit, Debt Rules

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FRANKFURT (MNI) - The European Commission's spring forecasts see the Eurozone's periphery countries in violation of the Stability and Growth Pact's debt and deficit rules over the forecast horizon. However, public finance forecasts are based on the usual "no-policy ...

EU’s Rehn: Confident 110 bln euros will suffice for Greek financing needs in coming years

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EU/IMF loan allows Greece to not go to markets for funding in first 2 years Deficit levels in EU are worryingly high Not going to propose aid mechanism for Spain as there is no need for aid mechanism Speculation reaching euphoric levels Spain, Portugal taking measures to consolidate public finances Greece only EU state which ...

UK April construction PMI better than expected

Posted:

Has come in at 58.2, up from 53.1 in March, demonstrably better than median forecast of 53.4 and highest read since September 2007. Cable sits at 1.5135, where it was when I sat down at my desk some 4 1/2 hours ago.

ECB’s Weber: Greece’s financing on capital market is greatly endangered

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Greek default would be substantial risk for the stability of euro Sees threat of serious contagion effects for other euro zone states Contribution from Germany towards Greek aid package is acceptable Greek government has promised comprehensive consolidation and reform measures Strict conditions of Greek support measures makes aid acceptable We have to reform EU budget ...

EU Commission Hikes UK 2010 Growth Fcast To 1.2%; 2011 – 2.1%

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LONDON (MNI) - The EU Commission has hiked its forecast for UK economic growth in 2010 from 0.6% to 1.2% in its latest set of economic forecasts for the EU-27. The Commission forecasts UK growth in the UK will be ...

EU Commission Revises Up 2010 Fcsts For EMU Growth, Inflation

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BRUSSELS (MNI) - The European Commission revised up its forecasts for growth and inflation in the Eurozone this year on Wednesday, saying the single currency area was set to benefit from a stronger pick-up in global trade this year. But ...

Germany’s Merkel: Trust Greek PM To Implement Consol Program

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BERLIN (MNI) - German Chancellor Angela Merkel said Wednesday she believes that Greek Prime Minister George Papandreou will be able to implement the severe budget consolidation measures agreed with the EU Commission, the ECB and the IMF. "Even though it ...

Euro zone April final services PMI 55.6

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Revised very marginally firmer from flash estimate of 55.5.  Highest read since October 2007 Final composite PMI unrevised at 57.3.

German April final services PMI 55.2

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Compared to flash estimate of 55.0.  Highest read since August 2007.

French April final services PMI revised upwards

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To 59.2 from flash 57.8, highest read since November 2009.

Italy April services PMI 54.5, worse than expected

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Down from 55.3 in March and worse than median forecast 55.9.

EUR/CHF steady amid much talk

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EUR/CHF continues to see very steady trade amid much talk of what the SNB is doing. Latest has the central bank  sitting on the bid at 1.4325, good for 9 yards (yard equals a billion)

BIS enters the arena……

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Buying EUR/USD around current 1.2960 level.

For those with an interest in EUR/AUD….

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Hearing large stops below 1.4200. We're presently at 1.4250.

ECB: E50.772 Bln Covered Bond Purchases Settled May 4

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FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E50.772 billion Eurosystem covered bond purchases had settled as of May 4. As of May 3, settled acquisitions had totaled E50.673 billion, the ECB said Tuesday. The ...

S&P official: Markets more pessimistic on Greek default probability than it is – Paper

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EU/IMF aid package only has temporary impact on challenges facing Greece Second comment won't have gone down well. EUR/USD down at 1.2960.

Germany’s Merkel: Greek aid will only be granted if Greece does all it can to sort out it’s deficit

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They just can't help themselves. Go on call into question the Greek aid package why don't ya.  EUR/USD slips back to 1.2975 at writing. JUst hearing Russia seller of EUR/USD in recent trade. Right what other nuggets we got from Angela Greek aid plan is about the future of Europe and Germany in Europe Without ...

EUR/USD edges higher, notable buyer

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We're up at 1.2980 in EUR/USD. It will come as no surprise to hear an Asian sovereign has been buyer of the pairing in recent trade.

German FDP official says there is major worry that other euro member states may need bailout if Greek aid does not succeed

Posted:

Crikey. Best it succeeds then. EUR/USD is creeping higher in early European trade, presently at 1.2975.  These ongoing doom headlines hardly help euro's cause. Everyone in authority shut your cakeholes!!!

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