May 11, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Germany Sets 0.50% Coupon On New 2Y Note;To Sell E7 Bn May 12

Posted:

FRANKFURT (MNI) - The German federal government set a 0.50% coupon on the E7 billion in new 2-year notes (Schatzanweisungen) that it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 09:00 GMT Wednesday, May 12 with ...

Germany’s Cabinet Approves Bill For EU Stability Plan – TV

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BERLIN (MNI) - The German government cabinet has approved the country's share in the financing of the EU aid plan for fiscally troubled member states, German N-TV television reported Tuesday. Germany's share will amount to up to E123 billion in ...

EUR/USD lower and guess who’s selling?

Posted:

EUR/USD down at 1.2705.  Couple of hedge funds seen notable sellers.  Persistent little buggers ain't they.

UK Analysis: Mar Manufacturing In Strongest Rise For 8 Years

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--Strong data imply upward revision to Q1 GDP of 0.1pp --Anecdotal evidence weaker Sterling boosting manufacturing output --Mar manufacturing output +2.3% m/m; +3.3% y/y --Mar industrial production +1% m/m; -0.1% y/y LONDON (MNI) - Manufacturing output rose at its fastest monthly rate for eight years in March, helped ...

UK March industrial/manufacturing output better than expected

Posted:

Cable rallies, presently at 1.4870. Industrial output +2.0% m/m, +2.0% y/y much stronger than median forecasts of +0.3%. +0.6% respectively Manufacturing output +2.3% m/m, +3.3% y/y, much stronger than median forecasts of +0.4%, +1.6% respectively ONS (Office of National Statistics I think it is) says March industrial output data to add 0.1% to ...

BIS!! BIS!! BIS!!

Posted:

Just getting ready for weeks of chanting infront of telly during the world cup. Don't mess with the boys from Basle!!  Only joking. EUR/USD back down at 1.2725.

Clegg: Negotiations reaching critical and final phase

Posted:

Think he was talking from his back garden.  He didn't say he expected a conclusion today though.  The uncertainty continues, although it has to be said cable and sterling holding up well so far. EUR/GBP down at .8570 from early .8600.

BIS seen selling EUR/USD

Posted:

In 1.2745/50 area.  Helps explain slowdown in rally. You just never know when and where the boys from basle are going to turn up. We're not really any lower though, presently at 1.2745.

Germany Confirms To Top Up Jul 2020 10Y Bund By E6 Bln May 19

Posted:

FRANKFURT (MNI) - The German federal government confirmed Tuesday that it will sell about E6 billion in a top-up of its 3.00%-coupon July 2020 10-year bund on May 19. The formal tender for the auction will be announced on Tuesday, ...

Spain’s central bank governor says labour market reform would help budget deficit consolidation

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Yes it would.

ECB To Launch Liquidity Absorbing Fine Tune Op At 13:00 GMT

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FRANKFURT (MNI) - The European Central Bank will launch a liquidity absorbing fine-tuning operation at 13:00 GMT today, the bank announced Tuesday. The operation will be in the form of a variable rate tender with a maximum bid rate ...

Deja vu all over again…..

Posted:

This is reminding me of yesterday morning, well almost. Sovereigns support EUR/USD and enable it to rally before hedge funds enter and sell.  Yesterday the hedge funds were brushed aside, such was the initial enthusiasm for the global financial aid package. .  Today fund selling is proving more durable, the EUR/USD ...

ECB Calls For Bids In 8-Day US$ Liquidity Providing Operation

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that it will launch a 8-day liquidity providing operation to ease pressures in the short-term U.S. dollar funding markets. The operation is carried out at a fixed rate of 1.22% with ...

BOE Offers Unltd Usd In 8-Day Repo, Fixed Rate 1.22%

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LONDON ((MNI) - The Bank Of England said Tuesday it was offering an unlimited supply of U.S. dollars in a 8-day repo operation, settlement date May 12, maturing May 20 2010. The Bank said the repo would be at a fixed-rate, with the ...

France’s Lagarde: All Govts Must Now Adapt Budgets To EU Deal

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PARIS (MNI) - After the approval of the EU fiscal stabilization plan, all governments will have to adjust their budgets, French Finance Minister Christine Lagarde said in an interview published Tuesday. "All member states must restore balance in their public ...

ECB: E51.837 Bln Covered Bond Purchases Settled May 10

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E51.837 billion Eurosystem covered bond purchases had settled as of May 10. As of May 9, settled acquisitions had totaled E51.649 billion, the ECB said Monday. The ...

EU Rehn:Italy, France Must Also Step Up Consolidation Efforts

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BERLIN (MNI) - EU Monetary Affairs Commissioner Olli Rehn said in a newspaper interview published Tuesday that Italy and France also need to step up their budget consolidation efforts. Rehn also reaffirmed the "urgent" need for budget consolidation in Portugal ...

EUR/USD extending rally back, sell orders noted

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Nervy, choppy, trade dominating.  EUR/USD sits at 1.2720.  Talk of hedge fund sell orders up around 1.2730 area.

Fed’s Kohn: Higher Save Rate’Should Prove Reasonably Durable’

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--For China, External Demand In Part Reflected 'Artificially' Low FX By Steven K. Beckner ATLANTA (MNI) - Federal Reserve Vice Chairman Donald Kohn said Tuesday that the increase in the U.S. savings rate since the financial crisis is apt to endure and help reduce the U.S. current ...

ECB’s Nowotny: I don’t see inflationary risks from bond buying measures

Posted:

Main problem for euro zone is weak demand, slow growth Euro/Dollar rate always fluctuates historically, no reason for concern Well that last comment doesn't sound like someone readying for offical intervention, I have to say.

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