May 28, 2010

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Your forexlive.com ENewsletter

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Talk is…..

Posted:

The German name noted buying EUR/USD earlier bought around 2 yards.

Germany’s Daube: Unlikely To Issue 30-Year Linker This Year

Posted:

By Todd Buell FRANKFURT (MNI) - Germany is unlikely to issue a 30-year linker this year, because inflation expectations and market conditions are not appropriate for such an offering, Carl Heinz Daube, head of Germany's Federal Finance Agency told Market News International Thursday. ...

Strong Sweden GDP Lifts Chance Of July Hike, Economists Say

Posted:

BRUSSELS (MNI) - Stronger-than-expected growth in the Swedish economy raises the probability that the country's central bank, the Riksbank, will hike its repo rate in July, economists said. The central bank held rates at 0.25% at its April meeting, and ...

EUR/USD spikes higher as stops tripped

Posted:

Stops tripped through 1.2395 and we've spiked as high as 1.2427 so far, presently at 1.2418.  Its funny how everytime I get reports German name notable buyer/seller it invariably goes their way.  Must be nice to be BIG. Talking of BIG,  guess it would be timely to mention earlier reports of China ...

ECB’s Bonello: Deleveraging, Fiscal Policies Limit Recovery

Posted:

PARIS (MNI) - The unwinding of debt in the banking sector and tighter government fiscal policies are constraining the economic recovery in Europe, European Central Bank Governing Council member Michael Bonello said Friday. Bonello, who heads the Central Bank of ...

USD/JPY touch firmer on day

Posted:

USD/JPY up at 91.30 from around 91.10 when I got going.  Talk sell orders up at 91.40/50 with stops said to be gathering just above there.  I'd hazard a guess stops through 91.60. Interesting to read bank's month end analysis earlier, given their thoughts of decent USD/JPY demand. Will be interested to see ...

EUR/USD ticking higher again; sell orders, stops noted

Posted:

Bit of a choppy morning so far. Thin trading conditions,  Friday before long weekend will not be helping matters Ughh. German name notable buyer in recent trade.  Talk of sell orders at 1.2390 with stops noted through 1.2395.

Maybe it’s me, but I’m rather confused…..

Posted:

Nothing new there then. Cameron says rise in inflation is worrying and BOE will need to set interest rates to control it, while at the same time saying reducing government borrowing will help ensure interest rates can be kept lower for longer. I think I'll just stick with what I think, basically ...

BOJ FY09 Operating Profit Falls 16.5% Y/Y To Y366.5 Bln

Posted:

TOKYO (MNI) - The Bank of Japan said Friday that it posted Y366.5 billion in operating profit, or operating income minus operation expenses, last fiscal year to March 31, down 16.5% from Y439.0 billion a year earlier. The drop in ...

Germany Seeks Bids On E2 Bln Feb 2011 Bubill Tap; Sale May 31

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids on a top up of twelve-month bubills with an expected volume of E2 billion, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, May 31. The announcement ...

Month end flows

Posted:

Just been reading a piece from a bank I like. They've done some month end flow analysis.  Their month end fixing model suggests that rebalancing by portfolio managers will likely be USD postive to varying degrees. See flows strongly USD positive against JPY and CAD, less so against other majors.  USD/CAD so far unchanged ...

ECB: E54.413 Bln Covered Bond Purchases Settled May 27

Posted:

FRANKFURT (MNI) - The European Central Bank said Friday that a total of E54.413 billion Eurosystem covered bond purchases had settled as of May 27. As of May 26, settled acquisitions had totaled E54.348 billion, the ECB said Thursday. The ...

EUR/USD slips back as ACB steps in selling

Posted:

Talk  Asian sovereign stepped in selling around 1.2360. EDIT: Been having technical difficulties this morning.

Cable slips back slightly

Posted:

Cable ran into sell interest in the 1.4590/00 area and is presently back at 1.4565.  Talk of stops through 1.4610 before more sell orders gathered up at 1.4640/50.

Analysis: Germany Apr Import Prices Highest Y/Y Since Aug 08

Posted:

April: +2.0% m/m, +7.9% y/y MNI survey median: +1.8% m/m, +7.7% y/y MNI survey range: +1.3% m/m to +2.0% m/m March: +1.7% m/m, +5.0% y/y -- ...

Prudential: Discussions regarding current status of transaction have taken place between Prudential and AIG and are continuing

Posted:

Discussions may or may not lead to a change in the terms of the AIA deal Cable has edged marginally higher in early European trade, presently at 1.4565.  Guess sterling must be garnering a modicum of support from the uncertainty surrounding this deal and possibility of hedge needing to be unwound. I'm not ...

EUR/GBP touch firmer in early European trade

Posted:

EUR/GBP up marginally in early European trade, presently at .8465.  As TN has just reminded me; its month end and there will be expectations of usual European central bank purchase of the cross related to UK payment to EU.  Something to bear in mind.

EUR/USD slips back slightly in Asian trade

Posted:

EUR/USD sits at 1.2300,  down from a North American close Thursday up around 1.2355.  A couple of articles in the Wall Street Journal will have been noted.  One entitled "Greece may yet have to restructure its finances", the other "The arithmetic adds up to a Greek restructuring." Elsewhere, Chinese government advisor ...

Pleasant weekend all

Posted:

Hope to see you all bright and cheerful on Monday morning.

ForexLive Asian market wrap:

Posted:

Japanese retail sales +4.9%, YoY Japan's unemployment rate rises to 5.1%, CPI -1.5% UK consumer confidence drops in May China's industrial profits Jan-Apr +91.5% YoY Prudential bid for AIA in troubled waters, HK suspends Pru shares Regional sharemarkets gain 1.5% on average Big moves overnight in NY led by short covering in the AUD and this ...

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