May 24, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

EUR/USD: Maybe Getting Some Assistance from PBOC Comments

Posted:

China"s central bank chief has said (over Reuters) that the "European debt crisis will not change the global recovery" following it up with "China/US agreed to support European efforts to overcome debt crisis". EUR/USD looks like it is trying to find a base around current levels after tripping stops below ...

EUR/USD: CME Positioning a Leading Indicator of Moves

Posted:

UBS in their morning note say that CME positioning has been a leading indicator for movements in EUR/USD over the last 6 months and by last Tuesday (when the CME report is completed) short Euro positions had been trimmed by 13% from the week before. UBS says this explains/confirms EUR/USD ...

EUR/USD: Mind the Gap

Posted:

I used this headline on Friday and it remains appropriate. There is a big gap between 1.2330ish and 1.2470ish. It might get ugly on a break below 1.2450. EUR/USD has really struggled today caught up in a lot of cross related flows but also some disappointment that the break above 1.2620 on ...

Spanish Union Lead says Country heading towards general strike

Posted:

Headline over Reuters

EUR/AUD & EUR/GBP Under the Hammer

Posted:

Moves down in both EUR/AUD and EUR/GBP today look at face value to be corrective but dealers in London note macro and real money flows in both. Obviously some interest today in the budget cuts in the UK with stops taken out above 1.4500 (GBP/USD) a few minutes ago whilst ...

USD/CNY: SED Talks Go Nowhere

Posted:

Todays Strategic Economic Dialogue (SED) talks between the US and China came up with nothing concrete on the currency front but both sides were very conciliatory suggesting that other issues are at play here. The US needs China to grow its domestic demand (so that the US can export more) ...

Japan Apr Supermarket Sales -4.9% Y/Y, Down 17 Months In Row

Posted:

TOKYO (MNI) - Sales at supermarkets in Japan open for at least a year fell ...

AUD/USD: Topside Corrections as Nasty as Downside Moves

Posted:

It would appear the AUD/USD bulls are not ready to throw in the towel just yet. An early sell-off in Asia back below 0.8200 was quickly corrected with the pair now safely above 83 cents and looking to go on with it on the topside. This of course is very ...

BoJ May report; moderate recovery underway

Posted:

Those of you looking for a stimulating start to the day could try reading the BoJ's report for the month of May.

Cable fails again at 1.4500

Posted:

I have no confirmation of this but it looks like there is either some option protection or a very heavy sell order at the level.

Japan Govt Cautious, Stops Short of Saying Economy Recovering

Posted:

-- Cabinet Office Official: Need To Confirm Self-Sustaining Capex ...

BOJ May Report: Japan Economy Likely To Recover Moderately

Posted:

TOKYO (MNI) - The Bank of Japan on Monday offered a more positive outlook, saying the economy is likely to "recover moderately," an indication that the direct impact of the financial turmoil in Europe on sustained growth here will be limited. ...

Difficult to predict the next move for sterling

Posted:

Spending cuts by new Chancellor likely to be seen as GBP positive Strike by BA definitely a GBP negative (though possibly only a short term one) Offers capping cable at 1.4500, but stop-loss buy orders rumoured tight above there EUR/GBP is trading in a broad .8400/.8850 range and we're right in the middle ...

ForexLive European market open

Posted:

Uncle Gerry has the day off and I'll hang around until cover arrives. My view of the world is that the short term moves in certain pairs are overdone and that we are likely to see some further short-covering, particularly in pairs like EUR/USD and AUD/JPY. The strong moves higher on ...

ForexLive Asian market wrap; US-China talks start, AUD falls early

Posted:

Australian mining companies fight back against proposed mining tax US-China talks begin on a conciliatory note China to continue to work on currency system reform Chinese stockmarket surges 3%; talk that proposed new property taxes will be delayed by up to 3 years New UK chancellor of exchequer to announce GBP6 billion in spending cuts ...

Text: NABE Survey: Econ Growth Expectations Improve For 2010

Posted:

WASHINGTON (MNI) - The following are highlights from the May 2010 Industry Survey released Monday by the National Association for Business Economics. It notes the forecast panel's outlook for economic growth in 2010 improved, boosting their real GDP forecast from 3.1% in February to 3.2%: ...

Quick look at the order book

Posted:

AUD/USD: strong buying interest shown by hedge funds today below .8200 USD/JPY: tied in between substantial buying interest starting at 89.40/50 and sell orders grouped around 90.65/80. Talk of plentiful stop-loss buy orders above 90.90 and 91.20. EUR/USD: looks like order books are cleared out close to the market apart from some light ...

Chinese property indices surge

Posted:

A report over the weekend suggested that property tax and regulation changes which had been recently proposed would not be implemented for at least another 3 years. Blow up that bubble some more.

Chinese stockmarket +3%, Nikkei recovering, risk back on

Posted:

The JPY crosses have rebounded strongly, AUD/JPY in particular, and the strong opening on the Shanghai stock exchange is aiding risk appetites. The seemingly improving relations between China and the US, especially when it comes to matters financial and economic, is certainly helping matters.

Geithner learning the value of a softer tone

Posted:

It's taken Tim a long while to figure out that shouting at the Chinese and telling them what to do will get him nowhere. For China to give in to threats and bullying would involve loss of face, a factor which is culturally very important in Asia. Now Mr Geithner is taking ...
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