May 14, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/USD comes under renewed pressure, further barriers loom

Posted:

Down at 1.2485.  Heard talk of further barriers at 1.2475 and 1.2450 earlier.  Nearly forgot about the 1.2475 interest.  Stops tripped through 115.50 in EUR/USD adding to pressure on EUR/USD.  Cross presently at 115.28.

Off’l Revise:ECB:E52.312 Bn Cov Bond Purchases Settled May 13

Posted:

--ECB revises purchase total settled as of May 12 FRANKFURT (MNI) - The European Central Bank said Friday that a total of E52.312 billion Eurosystem covered bond purchases had settled as of May 13. As of May 12, settled acquisitions had ...

EUR/JPY lower on day, talk of stops not far away

Posted:

EUR/JPY down at 115.90 from early 116.50 (when I first got in) Now hearing talk of stops through 115.50.

UK House Prices Hold Up Despite Sharp Activity Fall: Academ

Posted:

--UK April House Prices Up 0.5% m/m; Up 12.9% On Year ...

Pop goes the weasel

Posted:

1.250o finally gives out and buy orders just below said level negate stops, which is not unusual. 1.2493 turns to 1.2510 quickly. Cable rallies quickly to 1.4572 and Francesco breathes a big sigh of relief.

Germany Seeks Bids On E4 Bln New 12-Month Bubills;Sale May 17

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids on a sale of new twelve-month bubills with an expected volume of E4 billion, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, May 17. The announcement ...

Greek 5 year credit default swaps rise to 550.2 bps from 528.7 bps at Thursday’s New York close

Posted:

Spanish 5 year credit default swaps rise to 162.2 bps from 155.1 bps at Thursdays New York close Portuguese 5 year credit default swaps rise to 217.8 from 201 bps at Thursdays New York close EUR/USD hits session low 1.2508. Earlier was hearing mixture of stops and buy orders just below 1.2500.

Well…..

Posted:

As the Chinese curse says, may you live in interesting times.  Well that's what I'm told it says. Battle of the 1.2500 dnt is well and truly joined.  We sit presently at 1.2534.  Elsewhere cable buy order around 1.4545 has so far held downside for cable, but I wonder for how long. ...

EUR/GBP up on day; sell orders, stops noted

Posted:

EUR/GBP is up at .8615 from early .8575.  Talk of sell orders at .8620/30 with stops seen through .8640.

ECB: E52.312 Bln Covered Bond Purchases Settled May 13

Posted:

FRANKFURT (MNI) - The European Central Bank said Friday that a total of E52.312 billion Eurosystem covered bond purchases had settled as of May 13. As of May 12, settled acquisitions had totaled E52.354 billion, the ECB said Thursday. The ...

Cable having another bad hair day

Posted:

Cable down 3/4's of a cent since I got in, presently at 1.4545.  Talk of buy order right around current level earlier and also talk of stops just below 1.4540.

European stocks not doing too well

Posted:

Spain's IBEX down 1%, Italy's MIB down 1%, Portugal's PSI 20 little better at down 0.4%. EUR/USD slips back to 1.2552 from session high 1.2575 session high in choppy trade.

EUR/USD rallies back; sell orders, stops noted

Posted:

EUR/USD has tripped small stops through 1.2560 on way to session high 1.2575 amid talk of ACB purchases.  We're presently at 1.2570.  Sell orders 1.2590-1.2605 with stops noted through 1.2610.

Well….

Posted:

EUR/USD had a little rallyette there, but duly ran into sell orders mentioned earlier up at 1.2550/60. We're back at 1.2538.  No need to thank me too profusely. I wouldn't be surprised if there were some short-term spec stops just above 60, but can't say i've heard of such. Still ...

EUR/USD sees quiet Asian trade at end of busy week

Posted:

EUR/USD sits at 1.2547, little changed from North American close Thursday around 1.2530.  We're seeing a pause ahead of well-noted 1.2500 dnt level, which is to be expected given that it's said to be sizeable and as such elliciting decent defence. That said, it would take a brave person to bet aggressively against it ...

Trichet: To Drain Liquidity From Bond Buys With Term Deposits

Posted:

FRANKFURT (MNI) - The European Central Bank will rely principally on term deposit tenders to drain extra liquidity injected into the markets through its purchase of government bonds, ECB President Jean-Claude Trichet said in an interview with German daily Handelsblatt on Friday. ...

Japan DPJ panel will mull spending cuts so next fiscal year’s new bond issuance doesn’t top 44.3 trln yen

Posted:

To call for overhauling tax including sales tax after next lower house election Will consider cutting promised amount of child care support USD/JPY sits at 92.90, touch firmer from North American close Thursday down around 92.70.  Talk of buy orders 92.50/55, stops below, sell orders at 93.00 and more up at 93.50/60, ...

Short covering picking up some momentum

Posted:

The JPY crosses are on their session highs and it's buying by Tokyo accounts in EUR/JPY in particular which is leading the way. After the events of last weekend, perhaps being short going into the weekend is more risky than being long! New session high of 116.60 for the cross. Have ...

ForexLive Asian market wrap: very quiet session to close the week

Posted:

After the wild moves of Monday we have turned to the other extreme to close the week with most pairs trading quietly in 30 pip ranges. Regional equity markets follow the Wall Street lead, -1% on average China's FDI +11.3% NZ Q1 retail sales +3%, lower than expected Gold adds 0.5% The JPY crosses opened ...

Around the markets

Posted:

Nikkei -1.6%, All Ords -1%, HK -0.8%, Kospi -0.25%. Gold +0.5% at $1236/oz. The FX market remains very quiet as we near the European open.
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