May 12, 2010

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Your forexlive.com ENewsletter

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Apparently…..

Posted:

Large buyer of overnight 1.2800 euro calls been seen.  We're at 1.2729.  Only another 70 odd points.

UK Analysis: Claimant Count Posts Sharp Fall In March

Posted:

--Apr claimant count unemployment -27,100; rate 4.7% --Jan-Mar ILO unemployment +53,000 q/q; rate 8% --Mar total weekly earnings +4% 3m y/y vs +2.5% in Feb --Mar regular weekly earnings +1.9% 3m y/y vs +1.7% in Feb LONDON (MNI) - Claimant count unemployment posted a further sharp decline ...

ECB’s Trumpel-Gugerell: Important for Greece to regain international confidence

Posted:

European economy recovering from deep crisis, growth signs slow but positive Well something's stirring. Confidence does seem to be improving a little  Greek 5 year credit default swap 484 bps from 510.5 bps at New York close Tuesday. EUR/USD has extended rally to 1.2727 so far, presently back slightly at 1.2720.

UK Forecasts: March/April Labour Market Data; March Trade

Posted:

LONDON (MNI) - Below is a poll of analysts' forecasts for the March/April labour market data, due out on Wednesday, May 12, and the March trade data, due out on Thursday, May 13, all at 0830 GMT. [[ ...

UK April claimant count -27,100

Posted:

Better than median forecast of -20,000. ILO jobless +53,000 in 3 months to March, unemployment rate 8% in line with median forecast.

A little birdy just told me……

Posted:

More cable stops gathered up through 1.5050.

USD/JPY moves higher

Posted:

Presently at 93.00 from early 92.65.  Hedge fund is said to have been good buyer in this pairing.  Yen seeing generally weaker tone, EUR/JPY up at 118.25 from early 117.00. Move comes against backdrop of improving risk sentiment.

Sterling having good morning

Posted:

Cable up at 1.4995 from early 1.4870, EUR/GBP down at .8447 from early .8490. Blimey, anyone would think those London traders are feeling a little more optimistic now we've gotten a new government. Go figure.  Large hedge fund seen notable buyer this morning.  Talk stops now through 1.5010.

Update: Trichet Declines To Reveal Amount Of Bond Purchases

Posted:

--Adds comments on fiscal policy, confidence, pension reform, the euro PARIS (MNI) - European Central Bank President Jean-Claude Trichet on Wednesday refused to reveal the volume of sovereign bonds the ECB intended to purchase, saying only -- as he already has said -- that the decision ...

Spain PM Zapatero says government to cut civil service jobs by 13,000 in 2010

Posted:

EUR/USD lifted to 1.2660 at writing. Also: To cut civil service salaries 5% in 2010, freeze in 2011 Regional governments to cut 1.2 bln euros To eliminate birth payments of 2.5 bln euros To cut index-linked pension rise in 2011 Cuts to save additional 15 bln euros in 2010, 2011 Spanish cabinet to vote on cuts and ...

ECB: E52.065 Bln Covered Bond Purchases Settled May 11

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E52.065 billion Eurosystem covered bond purchases had settled as of May 11. As of May 10, settled acquisitions had totaled E51.837 billion, the ECB said Tuesday. The ...

French Q1 growth lower than expected

Posted:

Has come in at +0.1% q/q, below median forecast of +0.3%.  Q4  2009 GDP has been revised downward, to +0.5% from previous +0.6% 2009 GDP as a whole revised down to -2.5% from previous -2.2%

Germany Pushed For Weber As ECB Chief At Ecofin Talks: Press

Posted:

BERLIN (MNI) - The German government used the Ecofin deliberations on a euro stability plan concluded in the wee hours of Monday to advance the candidacy of Bundesbank President Axel Weber to become the next European Central Bank president, German business daily Handelsblatt reported Wednesday. ...

ECB’s Trichet: We are taking appropriate decisions in face of current crisis

Posted:

We're not running the money printing machines Must remain alert ECB actions in line with what treaty allows it to do Everyone knows budget discipline is necessary Nobody doubts our independence Greece must rigorously apply fiscal consolidation programme Asked if France must reform pension system, replies "obviously" Return to sound finances is vital for economic growth I am ...

IMF’s Strauss-Kahn: Allow X-Border Euro Fiscal Transfers – FT

Posted:

...

ECB Trichet Declines To Reveal Amount Of Bond Purchases

Posted:

PARIS (MNI) - European Central Bank President Jean-Claude Trichet on Wednesday refused to reveal the volume of sovereign bonds the ECB intended to purchase, saying only -- as he already has said -- that the decision to buy them was intended to restore normality to ...

ECB Stark: See No EMU Inflation Risks For Foreseeable Future

Posted:

BERLIN (MNI) - European Central Bank Executive Board member Juergen Stark said in a radio interview on Wednesday that he sees no inflation risks in the Eurozone for the foreseeable future. Inflation in the Eurozone this year will be "somewhat ...

EUR/USD ticks higher

Posted:

Presently at 1.2650.  Euro demand said to be partly linked to Germany's 2-year 7 bln euros auction and Portuguese 10-year auction today.

ECB Noyer: No Target Set In Advance For Public Debt Purchases

Posted:

PARIS (MNI) - The ECB has not set in advance a target for public and private debt purchases and will remain flexible in its new policy, Governing Council member Christian Noyer said Wednesday. "We will do everything that is necessary ...

EUR/USD steady in early trade. German GDP comes in better than expected

Posted:

EUR/USD is seeing trading confined to narrow range in early European trade, presently at 1.2635. Earlier release of better than expected German Q1 GDP has lent some tentative support.  Provisional Q1 GDP came in at +0.2% q/q compared ot median forecast of flat, while y/y rate came in at +1.7% compared to median ...
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