May 25, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Analysis: EMU March New Order Growth Beats All Expectations

Posted:

March: +5.2% m/m, +19.8% y/y MNI median: +1.8% m/m MNI range: +1.0% to +3.2% m/m February: +1.9% m/m (revised from +1.5%) January: -1.5% m/m (revised from -1.6%) December: +1.3% m/m (revised from +0.6%) November: +3.0% m/m (revised from +3.1%) ...

Fresh Lows in EUR/USD, GBP/USD and AUD/USD

Posted:

Well the lack of bounce was a telling factor with EUR/USD continuing to edge lower and is now trading just below 1.22. We are heading towards last weeks low of 1.2143 with a break here likely to be very powerful. EUR/JPY, according to Reuters is now trading at an 8 ...

UK Analysis: GDP Growth Revised Up; Inflation Pressures Grow

Posted:

--Q1 GDP Revised Up to +0.3% q/q; -0.2% y/y --Q1 GDP Revision Bang In-Line With Median Forecast LONDON (MNI) - UK economic growth was revised up slightly in the first quarter, amid signs of increasing price pressures, figures released by National Statistics Tuesday showed. ...

UK Q1 GDP revised up to 0.3% (second estimate) as expected

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EU Van Rompuy: Next Steps Will Determine The Fate Of EMU

Posted:

BRUSSELS (MNI) - The European Union is at a critical moment and the next steps taken will determine the fate of economic and monetary union, European Council President Herman Van Rompuy said on Tuesday. Recent market turbulence and high debts ...

EUR/USD is not bouncing

Posted:

EUR/USD continues to struggle - low so far 1.2218. Cheg points out (thank you) RUMOUR that major Spanish bank had to use the discount window...also Spanish banks paying up for LIBOR. Lets hope the BOK doesn't start re balancing his reserves anytime soon............

Germany Seeks Bids On E7 Bn Top Up Of 2.25% S157 Bobls May 26

Posted:

FRANKFURT (MNI) - The German federal government on Tuesday formally sought bids for the E7 billion top-up of its 2.25% coupon Series 157 5-year Bundesobligationen (Bobls) to be sold May 26. Bids are due by 0900 GMT on Wednesday, May ...

EU Rehn: Critical Question If EU Econ Can Weather Mkt Turmoil

Posted:

--EU Comm Econ Chief Warns Of Lost Decade Of Growth BRUSSELS (MNI) - Financial market turbulence could have an impact on Europe's real economy, European Commissioner for Economic and Monetary Affairs, Olli Rehn, said on Tuesday. A failure of European Union ...

South/North Korea Conflict

Posted:

In an interesting piece over Reuters, the initial comment today that the North is ready to fight was from a quote made on May 20. Reuters story says the locals were in fact buying today whilst the panicked foreigners were doing the selling. This highlights once more that a little knowledge ...

EUR/USD: Makes Fresh Lows below 1.2250

Posted:

EUR/USD after holding rather steady this morning has succumbed to selling pressure and is playing catch-up now with GBP/USD and AUD/USD on the downside. Equity losses remain in the "ugly" category - Dax -2.2%, FTSE -2.5%. US futures are also hard down, Dow -2.2%, S&P -2.7%. Correlations are generally working again ...

Liquidity Problems Highlighted by Moves in the Forwards

Posted:

It has become very apparent and what is a repeat of 2008, that players are paying up to buy/sell US Dollars in the forwards. This highlights there is a concern that we are going to see another rush into US Dollars (risk aversion) and that players are preparing themselves for ...

ECB: E53.746 Bln Covered Bond Purchases Settled May 24

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E53.746 billion Eurosystem covered bond purchases had settled as of May 24. As of May 23, settled acquisitions had totaled E53.119 billion, the ECB said Monday. The ...

USD/KRW: Up Over 4% at one Stage Today

Posted:

USD/KRW traded a whopping 1224-1277 range in Asia today. The market was already well bid around 1246 when North Korean leader Kim Jong-il put the country on a combat footing. We got a surge above 1270 whilst the local bourse was down over 4% at one stage. The BOK (central ...

EU Van Rompuy Proposed Issuance Of Joint Eurobond: Press

Posted:

BERLIN (MNI) - EU President Herman Van Rompuy on Friday proposed to EU Finance Ministers the issuance of joint Eurobonds, German business daily Financial Times Deutschland (FTD) reported Tuesday. According to FTD, Van Rompuy suggested in a confidential paper that some debt of national ...

AUD/USD: Feeling the Heat

Posted:

The AUD/USD got the blowtorch treatment in Asia today. The pair was under pressure from it s0.8265 open but held on to 0.8180 until the last hour when AUD/JPY selling (as Sean pointed out) took straight AUD/USD down to 0.8103. It was a very nervous session in Asia with the market ...

JPY crosses take another hit

Posted:

Again it seems that AUD/JPY was the main target and it is now below 73. A big US investment house is very active at the moment, selling heavily I'm told.

EU plans levy on banks

Posted:

The FT is reporting the latest step in financial market regulation which would require banks to pay an upfront levy into a fund which would be used to stabilise the financial system.

USD/JPY: Talk of good sized bids 89.60/70

Posted:

There was some talk this morning of good sized bids near present levels at 89.60/70 and also some stops below 89.50. Guess we'll soon find out if they're there or not.

EU Plans for Levy on Banks to be Announced Wednesday: FT

Posted:

FRANKFURT (MNI) - A proposal requiring countries within the European Union to impose an upfront levy on banks is expected to be announced tomorrow and possibly reach the legislative stage by next year, the Financial Times reported on Tuesday. The ...

European sharemarkets expected to open over 2% lower

Posted:

Gerry has another day off today, hopefully back tomorrow, and I will hang around until cover arrives and/if I get out of this awful EUR/JPY position I've got. Can't think who could be stupid enough to go long anything in this environment but my reasoning was that risk-off = position ...
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