May 20, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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UK April retail sales inc fuel +0.3% m/m, +1.8% y/y

Posted:

Pretty much in line with median forecasts of +0.2%, +1.8% respectively. ONS says strength in clothing sales offset weakness in hardware and electrical sales. Oh-eh. Cable sits at 1.4375.  Personally I'm a bit disdappointed it's not at 1.4400.

Analysis: UK April Retail Sales Rise Moderately; Trend Weaker

Posted:

--Apr Retail Sales inc. fuel +0.3% m/m; +1.8% y/y --Apr retail sales ex fuel +0.1% m/m; +3% y/y --Retail sales above median forecast of +0.2% m/m; +1.8% y/y LONDON (MNI) - Retail sales volumes rose moderately on the month in April but on a trend basis growth is ...

USD/CAD up on day, notable seller seen currently

Posted:

USD/CAD has seen a good advance this morning, up at 1.0540 from early 1.0455.  Sources note large European corporate selling decent amounts around current level. Will it be enough to stop advance, don't really have an opinion. But it seems to be stalling the rally at least.

Merkel: Eurozone is sticking together, ready to take necessary political action

Posted:

Each eurozone country must make contribution to euro functions We must tackle euro zone problems at their roots, need to toughen stability pact

Bad news I’m afraid……

Posted:

Jamie will be running late today. But not to worry too much as "the maestro"  (he likes to be called that these days, bless) will be turning up later.  ETA around 13:00-13:30 GMT.

Cable sits at……

Posted:

1.4400. Spoooooooooooooooooooooooky.  It's a bloody magnet I tell ya. Saves me having to write about it though, which is just fine with me.

Greece to ban naked short Germans from their beaches

Posted:

Made me chuckle anyways :)

EUR/GBP rallies strongly before running into ME sovereign seller

Posted:

EUR/GBP is up at .8630 having started out down around .8575 this morning, but is off session high around .8650 having reportedly run into decent selling interest from a Middle Eastern sovereign.

EUR/USD holding up….

Posted:

Hearing that there are bank recommendations out tipping move to 1.2700.  Haven't got details. But then I know alot of you pour scorn on bank recommendations. Hey Alex you about. I hear Morgan Stanley clients all retired on profits from cable.

Seems like……

Posted:

The trigger for the sharp rally back above 1.2400 earlier was a UK clearer buying on behalf of a Middle Eastern entity, not seemingly ACB buying.  Infact Asian sovereign sales mentioned as reason for quick return back below 1.2400. We're presently at 1.2385.

ECB: E52.903 Bln Covered Bond Purchases Settled May 19

Posted:

FRANKFURT (MNI) - The European Central Bank said Thursday that a total of E52.903 billion Eurosystem covered bond purchases had settled as of May 19. As of May 18, settled acquisitions had totaled E52.690 billion, the ECB said Wednesday. The ...

EUR/USD rallies back above 1.2400

Posted:

EUR/USD has rallied strongly back above 1.2400, presently at 1.2410.   I haven't heard any particular names mentioned as notable buyers, but I'd hazard a guess the Asian sovereign seen buying AUD/USD was also likely good buyer of EUR/USD. Doing a bit of reserve diversification. Stops now seen gathered up through 1.2440, then sell ...

USD/JPY sees some recovery

Posted:

Amid talk of sizeable bid interest turning up at 90.85.  Session low hit at 90.87, presently at 91.25.  Sounds like it could have been Kampo, but no direct confirmation as yet.

Asian sovereign steps in buying AUD/USD

Posted:

Pairing presently back up at .8300 having earlier posted session low .8256.

EUR/JPY down on day, more stops noted

Posted:

EUR/JPY down at 112.50 from early 113.30 when I got in, amid talk of selling from Japanese mutual funds, global hedge funds and Asian sovereigns.  Talk now stops gathered through 112.00 and more through 111.70.  Probably worth remembering Kampo buyer down around 111.00 Wednesday.

AUD/JPY hovers just above “key” level

Posted:

AUD/JPY sits at 75.30, hovering precariously just above what I've  heard described as "key" 75.00 level.  That would suggest further stops could well be placed just below.

USD/JPY lower, weighed down by onslaught of AUD/JPY selling

Posted:

USD/JPY down at  91.05 from early 91.70, the spot a prisoner to the onslaught of AUD/JPY selling.  The cross is down at 75.30 from 77.25 when I sat down.

IMF Strauss-Kahn: Must Boost Growth In Germany, Europe: Press

Posted:

FRANKFURT (MNI) - Growth in Europe is "by far" too low, and Germany and other European countries must "urgently" do more to accelerate economic expansion, International Monetary Fund Managing Director Dominique Strauss-Kahn said in an interview published Thursday. Another situation ...

Germany FinMin: Apr Tax Revenue Boosted By Lower EU Transfers

Posted:

BERLIN (MNI) - German tax revenue improved markedly in April but was distorted to the upside by significantly lower transfers to the EU, the Finance Ministry said in its latest monthly report released Thursday. Federal tax revenue in April rose ...

French Economy Minister Lagarde: We must defend euro

Posted:

Does absolutely not think euro is in danger Euro is credible currency Confirms France will not follow German move on naked short selling ban on sovereign bonds We need more convergence on economic affairs
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