Jun 23, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

World Cup Update

Posted:

Tensions are building in the England camp, but manager Fabio Capello tells the squad not to worry, lots of people get nervous before getting on an aeroplane.

Soros says Germany savings policy is a danger for Europe – paper

Posted:

German policy could destroy European project, can't rule out euro collapse If Germany doesn't change policy, it's exit from currency union would help rest of Europe Germany dragging their neighbours into deflation, could mean protracted stagnation Deflation, stagnation lead to nationalism, social unrest Germany is isolated, should allow wages to rise to help other ...

UK mortgage approvals for home purchase 36,709 in May

Posted:

Versus 35,964 in May, slightly higher than median forecast of 36,000.  Net mortgage lending +2.552 bln in May vs +1.949 bln in April, highest since February. Good news on housing front.

UK Mortgage Approvals Edge Up Further In May – BBA

Posted:

--UK BBA: May S.Adj Mortgage Approvals 36,709 Vs 35,964 In April --UK BBA: May Approvals For Remortgaging 21,229 Vs 21,551 In April --UK BBA: May Mortgage Approvals Stg5.433bn Vs Stg5.262bn April LONDON (MNI) - UK mortgage approvals nudged up a little further in May from April, rising ...

BOE MPC voted 7-1 in June meeting to keep rates at 0.5%

Posted:

MPC's Sentance voted for 25 bps hike. First split on rate decision since February 2009, first call for a rise since August 2008. Voted 8-0 to keep QE at 200 bln. Cable firms to 1.4895.

ACB been buying GBP/AUD

Posted:

This morning.  Cross up at 1.7060 from early 1.7005. They obviously thought UK budget was ok too.

Euro zone June flash services PMI 55.4

Posted:

Down from 56.2 in May, below median forecast of 55.9, and first fall since February. Manufacturing PMI 55.6, down from 55.8 in May but better than median forecast of 55.3 EUR/USD trading marginally firmer on the day, presently at 1.2287, but it's been slow going so far.

Italy June consumer confidence falls to 104.4

Posted:

From 105.4 in May, below median forecast of 105.0 and lowest read since March 2009.

U.K’s Osborne: Reaction to budget shows it is a credible plan

Posted:

Cable up at 1.4870 from early 1.4820.  EUR/GBP very marginally easier at .8263. UK 10-year gilt yield falls to 3.42%, lowest since Oct 2009.

BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.19%

Posted:

LONDON ((MNI) - The Bank Of England said Wednsday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date June 24 maturing July 1 2010. The Bank said the repo would be at a fixed-rate, with the ...

BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.19%

Posted:

LONDON ((MNI) - The Bank Of England said Wednsday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date June 24 maturing July 1 2010. The Bank said the repo would be at a fixed-rate, with the ...

ECB: E59.283 Bln Covered Bond Purchases Settled Jun 22

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E59.283 billion Eurosystem covered bond purchases had settled as of June 22. As of June 21, settled acquisitions had totaled E59.024 billion, the ECB said Tuesday. The ...

ECB: E59.283 Bln Covered Bond Purchases Settled Jun 22

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E59.283 billion Eurosystem covered bond purchases had settled as of June 22. As of June 21, settled acquisitions had totaled E59.024 billion, the ECB said Tuesday. The ...

Spain’s Zapatero says EU banks stress test results due second half July

Posted:

Not long to wait then.  Ongoing worry surrounding the health of EU banks has been a major factor weighing on the euro of late.

Further to earlier SNB talk…….

Posted:

There appears to be a little confusion. Hearing conflicting reports about bid at 1.3585.  Talk now the bid is not SNB but someone protecting a barrier at 1.3575.  Well suffice to say there's a decent-sized bid at 1.3585.

Talk SNB on the bid in EUR/CHF

Posted:

Talk Swiss National Bank is on the bid in EUR/CHF at 1.3585.  Said to be for around euros 1 bln. Talk of 1.3550 barrier with stops parked just below there.

French June manufacturing industry morale weaker than expected

Posted:

Has come in at 95 compared to median forecast of 97.

Greece FinMin: To Get Deficit Under 3% of GDO By End of 2012

Posted:

FRANKFURT (MNI) - Greece is well on the way towards reducing its fiscal deficit to below the 3%-of-GDP maximum permitted under EU budget rules, Finance Minister Giorgos Papaconstantinou said in an interview published Wednesday. Papaconstantinou told German business daily Handelsblatt ...

ECB Tumpel-Gugerell:Urges Central Clearing Of OTC Derivatives

Posted:

PARIS (MNI) - Central clearing of the over-the-counter derivatives trade must be a key feature of regulatory reform, since lack of transparency in OTC trading led to the destruction of wealth during the financial crisis, European Central Bank Executive Board member Gertrude Tumpel-Gugerell said in ...

UK’s Osborne: If we don’t deal with debt, unemployment will rise

Posted:

Britian needs to take preemptive action to deal with debt Hope the public spending cuts can come down if we find more welfare savings Confident private sector will create jobs
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