May 10, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Barroso: EU Comm Respects ECB Independence, Welcomes Moves

Posted:

BRUSSELS (MNI) -- The European Commission is happy to see the European Central Bank rise to the challenges facing Europe and totally respects the central bank's independence, Commission President Jose Manuel Barroso said in an interview with Bloomberg TV in Brussels on Monday. ...

Euro zone sentix index falls to -6.4 in May

Posted:

From 2.5 in April.  Rather disappointing but hardly surprising given what's been going on.  I'll have a little bet with ya. I bet its up in June.  Just a feeling.

EUR/GBP cross up on the day, but runs into heavy selling

Posted:

EUR/GBP  up at .8720 presently from early .8690, but some way from session high .8759.   Swiss names were seen aggressive sellers around the highs.   The cross action has given cable a further boost.  The pairing is up at 1.4970 from early 1.4890.  Obviously 1.5000 looms as next barrier on topside, psychological ...

Update:Germany:Merkel Govt Coal Loses Majority In Upper House

Posted:

--Adds Final Results, Impact On Euro Aid Bill To Story Sent Sunday BERLIN (MNI) - German Chancellor Angela Merkel's CDU/CSU-FDP federal government coalition was defeated in Sunday's state elections in North Rhine-Westphalia, in the process losing its majority in the upper house of parliament, the Bundesrat, ...

Eurozone central banks have started buying government bonds – Italian monetary sources

Posted:

Who would have thunk it? EUR/USD at 1.3080.  As mentioned earlier talk of 1.3100 barrier option interest.  Euro bulls will be hoping these barriers offer as little lasting resistance on the way up as they did on the way down.

Talk of barrier option interest in EUR/USD

Posted:

At 1.3100, which explains dip back from 1.3093 session high.  Bit of protection going on. We're presently at 1.3073.

Interesting buyer enters the EUR/USD fray….

Posted:

Swiss private bank out of Zurich has been seen buying EUR/USD in recent trade.  It's the bank we've mentioned on a number of ocassions and they can be quite lumpy.  We've tripped aforementioned stops through 1.3050 and spiked to 1.3078.

Update: IMF Strauss-Kahn: Think New European Measures Enough

Posted:

--Adds Comments On ECB Decisions, IMF's Role BASEL, Switzerland (MNI) - New emergency stabilization measures announced early Monday morning by the European Union finance ministers and the European Central Bank will be sufficient, International Monetary Fund Managing Director Dominique Strauss-Kahn said here today. ...

U.S. oil futures soar

Posted:

Rise $3 to $78.11 per barrel.

ECB: No comment on trader speculation that they’ve already started buying government bonds

Posted:

EUR/USD at 1.3040, having been as high as 1.3048 so far.

ACB’s out in force

Posted:

Sources report a number of Asian sovereigns buying both EUR/USD and GBP/USD in recent trade.  We're up at 1.3040 and 1.4910 respectively. Greek/German 10-year government bond yield spread at 464 bps, narrowest since April 20. Talk of more stops through 1.3050 in EUR/USD.

EUR/USD lifted over 1.3000

Posted:

UK clearer said to have been notable buyer in recent trade.

IMF Strauss-Kahn: Think New European Measures Will Be Enough

Posted:

BASEL, Switzerland (MNI) - New emergency stabilization measures announced early Monday morning by the European Union finance ministers and the European Central Bank will be sufficient, International Monetary Fund Managing Director Dominique Strauss-Kahn said here today. Asked whether the decisions ...

Did you think they’d run for the hills screaming?

Posted:

Well apparently not.  Picking up talk of hedge fund sell orders above 1.3000 in EUR/USD.  We sit presently at 1.2980 having been as high as 1.2988 so far.  Personally I'd love to see the hedge funds get blown out of the water, but hey ho there we go.  Helps explain ...

Old Lady expected to keep things on hold today

Posted:

Bank of England is widely expected to keep rates unchanged, QE on pause, later today.  Announcement due 11:00 GMT.

Merkel: Germany’s Cabinet To Approve Euro Aid Bill On Tuesday

Posted:

BERLIN (MNI) - Germany's Chancellor Angela Merkel said Monday her government cabinet will approve on Tuesday the measures to defend the euro jointly agreed Sunday night among EU finance ministers. This afternoon she will inform the heads of the German ...

ECB: E51.649 Bln Covered Bond Purchases Settled May 9

Posted:

FRANKFURT (MNI) - The European Central Bank said Monday that a total of E51.649 billion Eurosystem covered bond purchases had settled as of May 9. As of May 6, settled acquisitions had totaled E51.321 billion, the ECB said Friday. The ...

IMF’s Strauss Kahn: Package agreed is very significant

Posted:

Thinks aid package is enough, market reaction is rather encouraging ECB's measures are very significant

Germany’s Merkel: Unprecedented package of measures to protect euro

Posted:

Clear there are broad-based attacks on euro Package necessary to to guarantee future of euro We must address the root of the problem, that means consolidating budgets Attack on euro constitutes emergency situation Important Spain and Portugal step up deficit cutting measures

Cable fairly stable as politcal horse-trading continues

Posted:

Cable at 1.4865 is little changed from where it closed out Friday, namely down around 1.4810. Negotiations between the Conservatives and Lib Dems regarding possible coalition continue.  The two sides are scheduled to get back together at 10:00 am local time  (09:00 GMT) Obviously any announcement that agreement has been reached will very likely ...

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