May 22, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Germany’s Schaeuble: US Likely To Oppose Fin Transaction Tax

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BERLIN (MNI) - German Finance Minister Wolfgang Schaeuble said in a newspaper interview to be published on Sunday that an international financial transaction tax will likely be opposed by the US. "It will likely fail due to them," Schaeuble told ...

N.American Wrap: End of World postponed

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Canadian March retail sales +2.1% vs upwardly revised +0.8% in February German Bundesrat Upper House approves bill on German participation in euro zone resue package Merkel: Very pleased German parliament passed euro zone rescue package bill. Important to keep euro stable ECB's Trichet: I never comment on fx intervention.  Euro is not in ...

Speculators trim bets vs euro in week to May 18, still heavy short the currency – CFTC

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And speculators increase net sterling shorts to record in week ended May 18. Aha, could be a big sqeeze on those cable shorts then........

S&P slips back to flat on day

Posted:

Ho hum.  EUR/JPY holding up still, presently at 112.85.

US Budget: Congress To Take Up Tax Extender,War Spending

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--House To Consider $200 Billion Plan To Extend UI, Expired Tax Items --Senate To Take Up Bill To Fund Iraq and Afghan Wars, Domestic Programs By John Shaw WASHINGTON (MNI) - Having spent most of the year focused first on health care and then on financial regulatory reform, ...

Well, its kinda dying a slow death

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Not a heck of alot going on. JUst speaking to a trader and he says seemingly just end of week squaring up going on.  Stocks are slipping lower but as yet it doesn't seen to have unsettled the forex market, EUR/JPY steady around 112.90/00.

US’s Dodd, Frank Vow Speedy Work On Fin Regulatory Reform Bill

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--But Hill Banking Chiefs Decline To Discuss What Final Bill Will Be --Sen Dodd: 'Status Quo' Caused Massive Economic, Financial Dislocation --Sen Dodd: 'Full Throated' Senate Debate Led To Strong Bill --Rep Frank: Final Bill Must Provide Strong 'Framework' For Future Reg --Rep Frank: Wants To Pass Final Bill 'Quickly,' By Fourth of July By ...

Luxembourg FinMin: Euro remains strong because of political commitment behind it

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Enough already. Please give it a rest.

US SEC, Goldman Sachs Group have not reached settlement – Sources

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Thanks to Cheg for timely heads up while I was off wittering on elsewhere. That news and Bini Smaghi's pearl re chances of sovereign debt crisis possibly hitting US, Japan, UK eventually have deflated things somewhat.  EUR/JPY back down at 112.65.  And the sun's gone in here too. :(

EU Van Rompuy:EU Considers New Sanctions For Budget Offenders

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BRUSSELS (MNI) - New sanctions for European Union countries that infringe on budget rules are being considered by a European task force, but probably won't include EU treaty changes, European Council President Herman Van Rompuy said on Friday. "We discussed ...

ECB’s Stark: We Do Not Have A Weak Euro: German Radio

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FRANKFURT (MNI) - The euro is not weak at present, rather its purchasing power is safe and will remain so, European Central Bank Executive Board member Juergen Stark said Friday. "I would like here from the side of the ECB ...

ECB’s Bini Smaghi: Sovereign debt crisis could hit U.S., Japan, U.K. eventually

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Don't go spoiling my Friday Lorenzo....... EUR/JPY slips back below 113.00, presently at 112.95.

EU President: There was strong political will among EU FinMins to move forward on EU budget rules

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Where there's a will. there's a way. Friday's talks on EU budget rules only start of the process Main objectives are to reach greater budgetary discipline, make rules more effective  Divergences in competitiveness must be reduced in EU  (good luck on that one!!) There has to be an effective crisis menchanism  - - all ...

Alex, Alex…..you there?

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What you think of those bank recommendations calling for 1.2700 in EUR/USD which we talked about yesterday morning.  Close enough for government work, wouldn't you say.  Clever so and soes.

Crikey, you’re right Bear…..

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I'm off..... http://www.youtube.com/watch?v=4eJwtjFLj1c

US House, Senate Banking Chiefs Seek To Draft Final Reg Bill

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--Senate Banking's Dodd, House Financial Services' Frank To Lead Talks --Formal House-Senate Conference Committee To Start Soon --Hill Leaders Seek Final Deal By July 4th Recess --Hill Talks To Focus on Fed, Derivatives, Consumer Agency By John Shaw WASHINGTON (MNI) - With the Senate following the House and passing a ...

ECB’s Bini Smaghi: Although with delay, Europe is making right decisions

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Greece has adopted very strong measures, shown will to put them in practice Europe is taking steps as well as to strengthen budget rules Italy must cut public spending to get room to reduce taxes Italy, other countries budget laws' objective is return to primary surplus Rigorous stability pact has been positive factor for ...

Update:Trichet: Euro Safe; No Comment On Intervention: Press

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--Adds comments on fiscal consol, bond buys to story sent at 15:17 GMT FRANKFURT (MNI) - The euro is a credible currency and not in danger, ECB President Jean-Claude Trichet said in an ...

US Treasury: Estimates tarp losses at $105.4 bln, down $11.4 bln from previous estimate

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Lower TARP losses due primarily to rise in value of government stake in Citigroup TARP costs related to AIG down $2.9 bln, also cites auto investment improvement $190 bln of TARP fund repaid

S&P up 1.4%!!!! (well almost)

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Yipeeeeeeee. EUR/JPY extending rally, presently at 113.35. So much for no one wanting to embrace a little risk ahead of the weekend.  Oh well.   Day's not over yet though.
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