Jun 11, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

ECB’s Stark: ‘Crazy’ To Question Future of Euro

Posted:

FRANKFURT (MNI) - It is "crazy" to question the future of the euro, European Central Bank Executive Board member Juergen Stark said on Friday. "The euro has a future and is the future (for Europe)," Stark said in a panel ...

ECB’s Stark: There is no alternative to the euro for Europeans – Reuters Insider

Posted:

Question of whether euro has a future is a crazy one Our single currency has a future and is the future (ohhh I'm getting goose bumps) Crisis is not a crisis of the euro but one of sovereign debt Debt crisis is not limited to euro area, or regions of euro area This is ...

BUBA: Sees German real GDP +1.9% in 2010, +1.4% 2011

Posted:

HICP inflation of 1.2% in 2010, 1.6% in 2011 German unemployment 3.3 mln in 2010, 3.4 mln in 2011, jobless rate 8.0% in 2011 German economic recovery has picked up from sluggish winter, positive momentum from global economy Price rises remain restrained despite euro's decline on forexc markets

Bundesbank: Hikes GDP Fcasts, Inflation to Stay ‘Moderate’

Posted:

FRANKFURT (MNI) - The German economy could benefit more than expected from the pickup in global economic growth, adding to an accelerating recovery for the Eurozone's largest economy, while consumer price growth is likely to remain moderate, the Bundesbank said on Friday. ...

Update: UK May Input Prices In 1st Monthly Fall Since Sep09

Posted:

--Adds detail on output prices to story transmitted at 0830GMT --May producer output prices +0.3% m/m; +5.7% y/y --May core producer output prices +0.1% m/m; +4.4% y/y --May producer input prices -0.6% m/m; +11.2% y/y LONDON (MNI) - Input prices posted their firstly monthly decline since September ...

UK DATA: BOE: Year-Ahead Inflation Expectations Surge

Posted:

--BOE/GfK NOP Survey Shows Aug Yr Ahead Inflation Expectations At 3.3% --BOE/NOP: Year Ahead Inflation Expectations Highest Since Aug 2008 LONDON (MNI) - Inflation expectations for the year ahead have surged to their highest level since August 2008, rising to ...

UK industrial, manufacturing output weaker than expected

Posted:

April industrial output has come in at -0.4% m/m, +2.1% y/y, weaker than median forecast of +0.4% m/m , first m/m fall since January. Manufacturing output has come in at +0.4% m/m, +3.4% y/y, weaker than median forecast of +0.5% m/m, also first m/m fall since January. Data has underminned sterling, cable ...

UK Analysis: May Input Prices In 1st Monthly Fall Since Sep09

Posted:

--May producer output prices +0.3% m/m; +5.7% y/y --May core producer output prices +0.1% m/m; +4.4% y/y --May producer input prices -0.6% m/m; +11.2% y/y LONDON (MNI) - Input prices posted their firstly monthly decline since September last year as the price of crude oil fell ...

UK Analysis: Manufacturing Output Posts Surprise Fall In Apr

Posted:

--Apr manufacturing output -0.4% m/m; +3.4% y/y --Apr industrial production -0.4% m/m; +2.1% y/y LONDON (MNI) - Manufacturing output fell unexpectedly in April following strong growth in the previous two months, according to figures released by National Statistics Friday. Manufacturing output ...

EUR/GBP finally sees some sort of bounce

Posted:

EUR/USD is back up at .8240 from earlier session low .8211 (just failing to trip aforementioned stops through .8210) with a French corporate notable buyer in recent trade.

Germany Confirms To Tap Mar 2011 Bubill By E2 Bln Jun 21

Posted:

FRANKFURT (MNI) - The German federal government will top up its March-2011 maturity bubill by E2 billion, the Bundesbank confirmed Friday. The formal tender offer will be made on Friday, June 18. Bids are due by 0900 GMT on Monday, ...

BIS buys EUR/USD

Posted:

As well as Spanish corporate being notable seller earlier, there is talk of hedge fund selling at higher levels as well. We're down at 1.2105.  Hearing talk BIS has been buyer in recent trade, probably at slightly higher levels (say 1.2110 would be my guess)

Germany Seeks Bids On E5 Bln New 6-Month Bubill; Sale Jun 14

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids on a new 6-month bubill with an expected volume of E5 billion, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, June 14. The announcement of the ...

Spain’s EconMin: Spain has made no aid request to EU

Posted:

Good show. You know it makes sense.

EUR/USD ticks higher, runs into interesting seller

Posted:

EUR/USD has ticked higher before running into decent-sized selling interest from a large Spanish corporate in the 1.2130's. We presently sit at 1.2128.  Well I thought it was interesting, but then I'm pretty sad.

ECB Tumpel-Gugerell:Fin Integration Allowed Rapid ECB Reponse

Posted:

FRANKFURT (MNI) - Financial integration allows for the smooth functioning of monetary policy and has permitted the European Central Bank to react both quickly and successfully during the recent crisis, ECB Executive Board member Gertrude Tumpel-Gugerell said on Friday. "[The ...

ECB: E56.547 Bln Covered Bond Purchases Settled Jun 10

Posted:

FRANKFURT (MNI) - The European Central Bank said Firday that a total of E56.547 billion Eurosystem covered bond purchases had settled as of June 10. As of June 9, settled acquisitions had totaled E56.347 billion, the ECB said Thursday. The ...

Bit of scuttlebutt…..

Posted:

Apparently there has been some talk in the market that IMF is set to include AUD and CAD to sdr.  Possibly linked to UBS research piece that central banks may shift their reserves into commodity-linked currencies should IMF decide on such a move.  Not sure how fresh this piece of news ...

EUR/USD; the stop story

Posted:

Right here we go.  Talk of stops through 1.2090 and more through 1.2060. The upside stop story just gets more complicated by the minute. Here;s what we got. I've read "massive" stops through 1.2150 and I've read decent-sized stops through 1.2165.  NOTE I say READ. Contacts are saying stops through 1.2155.

Talk of stops

Posted:

Through .8210 in EUR/GBP.

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