May 18, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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UK CPI stronger than expected

Posted:

April CPI has come in at +0.6% m/.m, +3.7% y/y, stronger than median forecasts of +0.4%, +3.5% respectively.  Hasn't done much for cable though, presently around 1.4500.

Cable recovering in very choppy market

Posted:

Presently around 1.4500.  Little earlier heard talk of stops through 1.4525. CPI data for April up in 2 mins expected +0.4% m/m, +3.5% y/y.  If higher than expected could give cable further lift and vice versa.

For those who like a rumour, here’s one on today’s ZEW data

Posted:

Talk is that German ZEW economic sentiment will come in at 39, below median forecast of 44.   Take it for what you will, but the talk is out there. Doesn't seem to be holding EUR/USD back too much, presently at 1.2410.

BIS enters EUR/USD market buying. Another notable buyer also seen

Posted:

BIS seen buying around 1.2370.  We've recovered to 1.2395 at writing.  Also French bank notable buyer. I'm sure I've heard in past this French bank sees China's business.

Germany Seeks Bids On E6 Bn Top Up Of Jul 2020 Bund May 19

Posted:

FRANKFURT (MNI) - The German federal government called for bids Tuesday on its E6 billion top-up of the 3.00%-coupon July 2020, 10-year bund, the Bundesbank announced Tuesday. Bids for the top-up are due by 09:00 GMT Wednesday, May 19, ...

Greek/Germany 10-year government bond yield spead tightening

Posted:

To  512 bps, down around 40 bps on day.  Good to hear.

Canadian FinMin: Upcoming G20 meeting to discuss fiscal consolidation, financial sector reform

Posted:

Difficult time in global economy not yet over Europe crisis shows countries still need to be cautious Sovereign debt issue remains an ongoing challenge Thanks for coming out and brightening up our day. EUR/USD has slipped back to 1.2395 from session high 1.2422.  What euro needs is some super duper ZEW numbers. Up in ...

Hey EUR/CHF is moving…….

Posted:

Up at 1.4040.   A US investment house is said to have been notable buyer in recent trade.

Cable edges over 1.4500

Posted:

Presently at 1.4505.  Not exactly much of a pop it has to be said, disappointing if you're a cable bull.   Guess lumpier stops are through 1.4550.  Sell orders head of that level up at 1.4540/50.

ECB Calls For Bids In 84-Day US$ Liquidity Providing Operation

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that it will launch a 84-day liquidity providing operation to ease pressures in the U.S. dollar funding markets. The operation is carried out at a fixed rate of 1.24% with the ...

ECB: E52.479 Bln Covered Bond Purchases Settled May 17

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E52.479 billion Eurosystem covered bond purchases had settled as of May 17. As of May 16, settled acquisitions had totaled E52.401 billion, the ECB said Monday. The ...

Spain’s IBEX up 1.9%, Italy’s MIB up 1.3%

Posted:

DAX up 1.3%.  And the sun's out and it's getting warmer and summer's just round the corner and all's right with the world. Ok Ok, the last bit's a stretch, infact a huge stretch, but hey ho.  I want good news and lots of it, I'm fed up to the ...

Cable firmer in early European trade; sell orders, stops noted

Posted:

Presently at 1.4480.  Talk of sell orders 1.4490/00, stops just above there.  I'd hazard a guess lumpier stops through 1.4550.

Austria FinMin: Hope To See Global Fin Transaction Tax: TV

Posted:

FRANKFURT (MNI) - Despite some skepticism from Germany's chancellor that a financial transaction tax could be implemented on a global level, "there is absolutely no question that the desired scenario would be to implement" the measure globally, Austrian Finance Minister Josef Proell told German television ...

Japan Apr Department Store Sales -3.7% Y/Y, Down 26 Mo In Row

Posted:

TOKYO (MNI) - Department store sales fell 3.7% from a year earlier in April to Y484.6 billion, with the pace of year-on-year decline accelerating slightly from the previous month as the country was hit by unusually low temperatures and rare snow falls in April, the ...

Further to EUR/USD orders

Posted:

Now hearing sell orders 1.2390/00, but not thought to be overly large.   Also talk sell stops through 1.2410, so we've now got a choice of two levels, 1.2410 and 1.2420.  Always good to have choices.  :) EUR/USD up at 1.2385.

EUR/USD extends recovery

Posted:

EUR/USD up at 1.2378, the pairing extending it's recovery against a backdrop of improving stocks, oil up nearly a buck.  I hesitate to say "risk on", but obviously sentiment isn't too soured. Talk couple of Asian sovereigns buying earlier.  Makes me wonder who sovereigns up at 1.2400 are.  Anyways, sell orders ...

Update: Japan Apr Cons Confidence Index Up 4th Month In Row

Posted:

-- Adds Inflation Expectations From 23rd Paragraph -- Japan Apr Consumer Confidence Index 42.0 Vs Mar 40.9 -- Japan Apr Consumer Confidence Highest Since Oct 2007 -- Japan Consumer Confidence Posts 12th Y/Y Rise In Row -- Japan Govt Keeps View: Cons Conf Continues Picking Up TOKYO (MNI) - ...

Japan Apr Consumer Confidence Index Up 4th Month In Row

Posted:

-- Japan Apr Consumer Confidence Index 42.0 Vs Mar 40.9 -- Japan Apr Consumer Confidence Highest Since Oct 2007 -- Japan Consumer Confidence Posts 12th Y/Y Rise In Row -- Japan Govt Keeps View: Cons Conf Continues Picking Up TOKYO (MNI) - Japan's consumer confidence index posted its fourth ...

Sharp falls in euro won’t effect China’s diversification of it’s forex reserves

Posted:

PBOC advisor Xia Bin tells Dow Jones, opining that "diversification is a long-term trend." Comments suggest China has no intention of appreciably lowering it's holding of euros given the current crisis. Can't say I thought they would.  Anyways comments good for a few points on EUR/USD, which is up at 1.2350 presently. Xia ...
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