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- ForexLive US wrap-up: Retail sales a mild downer for risk
- Stocks getting directional at the end of the day
- Update:Greek PM:Consolidation On Target, Expect To Remain So
- Deutsche’s Ackermann: Actually, I don’t doubt Greece’s ability to repay its debts
- Greek PM: We will pay our debt–Reuters
- EUR/USD edges up from Fibo test, cable too
- Naughty boys left out of GM IPO
- Greek PM: Fiscal Consolidation On Target, Expect To Remain So
- One more reason not to trust ratings agencies: The FFF
- Greek PM: Clearly decided against option of default or leaving euro
- BP preparing to trim dividend: Times
- US’s Geithner Now Appears To Encourage Hill Heat On China’s FX
- Minn Fed’s Kocherlakota: Bank Woes to Persist For Year or Two
- Cable continues its grind lower
- Euro zone rescue bonds would not have preferred status
- Merkel: We’ll be back to 2008 levels in 2012/13, if we’re lucky
- EUR/USD tests fibo support; Algos hate soccer
- Good goal, better dance
- Kohn to stick around for an extended period
- Oh my….
| ForexLive US wrap-up: Retail sales a mild downer for risk Posted: US retail sales fall 1.2% in May, ex-autos down 1.1% Fed's Plosser upbeat on growth, sell assets sooner rather than later ECB's Bini-Smaghi: German will grow faster than Club Med; Warns China on FX rate Rehn denies Spain to tap EU rescue plan University of Michigan consumer sentiment index rises to 75.5 ... |
| Stocks getting directional at the end of the day Posted: US equity prices are beginning to do their end of the day trick of picking a direction and going with it. They've edged into the black and and are dragging EUR/USD up along with them. We've pushed as high as 1.2091. Stocks are up 0.25% with under 15 minutes left. |
| Update:Greek PM:Consolidation On Target, Expect To Remain So Posted: --Adds Comments From Q&A Session To Story Sent At 18:32 GMT VIENNA (MNI) - Greece's fiscal consolidation program is on track and will remain so, Greek Prime Minister Georgios Papandreou said Friday in a speech at the IIF spring membership meeting here. ... |
| Deutsche’s Ackermann: Actually, I don’t doubt Greece’s ability to repay its debts Posted: A month ago, the CEO of Deutsche Bank helped send EUR/USD skidding when he opined that he doubted Greece would be able to pay its debts. Now he says he changes his view. The PM's commitment to reform makes him believe Greece will be successful servicing its debts. Either that, or he ... |
| Greek PM: We will pay our debt–Reuters Posted: Have no fear, Greek bond holders (that means you, Jean-Claude). The Greek PM assures the market that it will repay its debt. Rest easy in your beds, ECB board members. |
| EUR/USD edges up from Fibo test, cable too Posted: EUR/USD is slowly rebounding, now up to 1.2080 from 1.2045. It very briefly dipped below the 50% retracement of the recent bounce from trend lows at 1.1878 earlier this week to trend highs of 1.2153 first thing this morning. A bottom? A narrow consolidation in a strong downtrend? I have to ... |
| Naughty boys left out of GM IPO Posted: The Journal reports that Morgan Stanley and JP Morgan will lead the eventual IPO of General Motors. Uncle Sam owns 61% of GM. Since the SEC is on Goldman's tail, GM's board likely read the tealeaves and left Goldman out of the top-tier...No sense ticking off your largest shareholder... |
| Greek PM: Fiscal Consolidation On Target, Expect To Remain So Posted: VIENNA (MNI) - Greece's fiscal consolidation program is on track and will remain so, Greek Prime Minister Georgios Papandreou said Friday in a draft for a speech to be held at the IIF spring membership meeting. "We have taken difficult ... |
| One more reason not to trust ratings agencies: The FFF Posted: Traders are not the only ones who are vulnerable to committing the dreaded fat-finger f*&ck-up...Apparently the world's largest ratings agencies are as well... |
| Greek PM: Clearly decided against option of default or leaving euro Posted: Decision against default, leaving euro makes good economic sense Growth cycle can start again. Greece has tremendous growth potential Won't back down on reform The mere mention of the word Greece has EUR trading softer, now at 1.2060... |
| BP preparing to trim dividend: Times Posted: Though Reuters says no decision has been mad. The dividend has become a political football in the States as Obama and Co want BP to put the cast toward clean-up. Cable trades at 1.4512. |
| US’s Geithner Now Appears To Encourage Hill Heat On China’s FX Posted: --Treasury Secretary Shifts Tactics With Congress On China --Geithner Declines To Say That China Has Embraced Currency Reform --Sen. Schumer Repeats Threat To Move Currency Bill This Summer By John Shaw WASHINGTON (MNI) - For reasons that are not difficult to discern, Treasury secretaries rarely utter the ... |
| Minn Fed’s Kocherlakota: Bank Woes to Persist For Year or Two Posted: --Banking Sector Difficulties Impeding Labor Market Recovery --Modest Impact on US Recovery if Europe Enters Recession By Brai Odion-Esene WASHINGTON (MNI) - While bullish on the prospects for growth and inflation in the United States, Minneapolis Federal Reserve President Narayana Kocherlakota warned Friday that the difficulties in the ... |
| Cable continues its grind lower Posted: It's been a tough day for the pound. It been under pressure since reporting poor industrial production data this morning. The cheap pound was supposed to boost exports, which was supposed to boost production, which was supposed to support the pound, but it did not work out that way today. We ... |
| Euro zone rescue bonds would not have preferred status Posted: Bonds issued by the Euro SPV would not have senior status in the capital structure, apparently, judging by comments from an EU source quoted by Reuters. They will come in many different flavors, err, maturities though! And of course, they will be AAA. EUR/USD has bounced back to the 1.2065 area ... |
| Merkel: We’ll be back to 2008 levels in 2012/13, if we’re lucky Posted: German Chancellor Merkel says that the German economy will be back to what it was in 2008 in the 2012/13 time frame, "if we are lucky". More like Greece, Portugal and Spain will have to get lucky for Germany to extend its rebound without having to bailout the rest of the ... |
| EUR/USD tests fibo support; Algos hate soccer Posted: Algos are much more into video games, so soccer does not impede their progress in pushing EUR/USD down to 1.2045, just a few pips below the 50% retracement of the 1.1878/1.2153 rally. 1.2015/25 is the next area of support. |
| Posted: A really good goal by South Africa and a great celebratory dance which followed... 1-0 South Africa over Mexico. |
| Kohn to stick around for an extended period Posted: Fed vice-chair Kohn intended to retire on June 23, but his stay has been extended t0 September 1 as Janet Yellen still has not been confirmed to her spot by the Senate. Won't make much difference from a policy perspective as they are both committed doves on monetary policy. |
| Posted: It really is thin out there...EUR/USD has fallen all the way back to 1.2056 in thin trade. Look for offers now in the 1.2080/85 area. Support is just below 1.2050. |
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