May 7, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Brown out!! Brown out!! Brown out!!

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Come on everyone. Lets all chant and maybe Gordon will do the right thing and exit gracefully stage right. Political uncertainty    =   vulnerable sterling.     Cable down at 1.4630.

Germany’s FinMin: Must Defend The Common European Currency

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BERLIN (MNI) - German Finance Minister Schaeuble on Friday said there is no alternative to financial aid for Greece in order to protect the stability of the euro. "We must defend the common European currency as a whole," Schaeuble said in a speech in Germany's ...

German/Greek 10-year government bond yield spread widens to 1028 bps

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Euro lifetime high. EUR/USD slipping back  again after spurt higher, presently at 1.2725.

UK Analysis: Apr Output Prices Rise At Fastest Since 2008

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--Apr producer output prices +1.4% m/m; +5.7% y/y --Apr core producer output prices +1.1% m/m; +4.4% y/y --Apr producer input prices +0.6% m/m; +13.1% y/y LONDON (MNI) - Output price inflation in April hit its highest level since October 2008 as the price of scrap metal ...

Halifax: UK House Prices Fall O.1% On Month In April

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--House Prices Down 0.1% m/m In Apr; Up 6.6% 3m y/y ...

German FinMin: Must defend common European currency

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Interesting comment given rumour of ECB in EUR/JPY.  EUR/USD up at 1.2760. To be honest I think if ECB had actually been in EUR/JPY the cross would have gone up alot quicker than it has. EUR/USD rally probably has a much to do with US investment bank trying to execute very ...

Another rumour and talk of notable buyer in EUR/USD…..

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Rumour ECB has been buying EUR/JPY this morning.  Take it for what you will. I'm sceptical. Also talk a US investment bank in the news alot these days has been very aggressive buyer of EUR/USD in recent trade.

Germany Confirms To Sell E4 Bln New 12-Month Bubills May 17

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FRANKFURT (MNI) - The German federal government will auction E4 billion in new 12-month bubills on May 17, the Bundesbank confirmed Friday. The formal tender offer will be made on Friday, May 14. Bids are due by 0900 GMT on ...

More on rumour

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The conference call is the Money Market Contact Group and is said to be not that unusual.  EUR/USD presently up at 1.2740.

Rumour doing the rounds

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There is talk in the market that ECB holding a conference call with 47 EU banks to discuss money markets. Talk conference call is scheduled for 10:00/10:30 Frankfurt time. EUR/USD rallying back over 1.2700.

BIS steps in and buys EUR/USD

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EUR/USD bounces back, presently at 1.2690.

Germany Seeks Bids On E5 Bln New 6-Month Bubills; Sale May 10

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FRANKFURT (MNI) - The German federal government is seeking bids on a sale of new six-month bubills with an expected volume of E5 billion, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, May 10. The announcement ...

ECB: E51.321 Bln Covered Bond Purchases Settled May 6

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FRANKFURT (MNI) - The European Central Bank said Friday that a total of E51.321 billion Eurosystem covered bond purchases had settled as of May 6. As of May 5, settled acquisitions had totaled E50.913 billion, the ECB said Thursday. The ...

China’s overly fast property price rises could lead to social instability – Housing Ministry

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Oh-eh.

USD/JPY gives ground

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USD/JPY has come under renewed pressure as European trade gets underway, back below 92.00, presently at 91.70.  Sources note aggressive selling by a U.S,  macro fund.

European stocks tumble

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Spain's IBEX down 2.2%, Portugal's PSI 20 down 3%,  Germany's DAX down 2.1%. Risk aversion alive and kicking.  EUR/USD slipping lower again after lull, presently at 1.2660.  Hedge funds seen selling.

G7 not to issue joint statement

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After conference call later today.

Times running out……

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If you want to have a go at the latest non farm payrolls contest. http://www.forexlive.com/104298/all/payroll-pool-open-for-business-2

EUR/USD continues to see volatile trade

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No respite yet in trading volatility. EUR/USD sits presently at 1.2680.  Pairing has managed to garner something of a footing after yesterdays freefall, helped by bounce in EUR/JPY with BOJ  pumping liquidity into the market (BOJ offered to loan 2 trillion yen against pooled collateral through an auction for settlement ...

France Data: MNI Survey Of Econ Data Forecasts, May 7

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