Jun 26, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Sorry guys

Posted:

Hit by a fast moving summer cold...I'll wrap up Friday's action on Saturday morning, with any luck...

ECB Tumpel-Gugerell: European Recovery On Track: Press

Posted:

FRANKFURT (MNI) - The European recovery is on track, European Central Bank Executive Board member Gertrude Tumpel-Gugerell said in an interview published Friday evening. Austerity measures implemented by European countries might hurt growth in the short term, but in the ...

Analysis: Fed Dodges Threat To Independence, And So Does USA

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-- Retransmitting Story Sent 12:42 ET to Add USA in the Headline By Steven K. Beckner (MNI) - Having apparently dodged perhaps the biggest threat to its political independence in its history, the Federal Reserve can breathe a sigh of relief -- and so can the American ...

US’s Frank: Confident That Reg Reform Bill Will Pass Next Week

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--House Financial Services Chief Says Bill Has 'Most' of Volcker Rule --Bill Does 'Great Deal More' Than Many Expected --Would Be 'Healthy' If Banks Return To Lending Focus --Housing Finance Reform 'On Track' After Bill Passes By John Shaw WASHINGTON (MNI) - House Financial Services Committee Chairman Barney Frank said ...

Here’s a good one for the risk trade

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Kenneth Feinburg, the guy tasked with running the $20 bln BP escrow fund, says driving BP into bankruptcy makes no sense. Someone should tell his boss...

EUR/USD consolidating gains; Cable eyes key resistance

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EUR/USD managed to trigger stops above yesterday's 1.2388 high, reaching 1.2396. Cable overcame yesterday's highs and is now consolidating above those levels, looking for one last pre-weekend push toward key resistance in the 1.5045/55 region. Surging oil prices and a relief rally on Wall Street after a deal was finally reached ...

It’s all gone risky!

Posted:

Great time to get fired up, on a Friday afternoon. EUR/USD has broken through its hourly downtrend at 1.2361 and has probed close to yesterday's 1.2388 highs. 1.2385 is the high so far. Classically, EUR/USD should pullback to retetst the trendline before making another stab at the highs. Buying sips toward 1.2360 ...

US Hill Passage Of Reg Reform Requires Final House, Senate Vote

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--House Expected To Take Up Conference Committee Vote As Early As Tues --Senate Banking Chief Believes 60 Senate Votes Will Be There --Final Agreement Not Subject to Amendments on Floor of House, Senate By John Shaw WASHINGTON (MNI) - If the congressional effort to pass sweeping regulatory reform legislation ...

More on broader stress tests

Posted:

Here are further details on broader tress tests for EU banks. The ECB plan would prompt tests of 15 German banks, not three, as presently planned. EUR/USD made a run for trendline resistance at 1.2361 but has stalled at 1.2358 so far. Cable topped out at 1.5017 and is easing again ...

Analysis: Fed Dodges Threat To Independence, And So Does

Posted:

By Steven K. Beckner (MNI) - Having apparently dodged perhaps the biggest threat to its political independence in its history, the Federal Reserve can breathe a sigh of relief -- and so can the American people. The financial regulatory reform bill ...

Cable bumping up against 1.5000/10 again

Posted:

Sean mentioned a significant sell order above 1.5000 in cable last night and we are having a go at it as we write. Heavy resistance comes in between 1.5045/55 but stops lie in the 1.5060/70 area. If we fail again, that could bring the fun to a close once again...

Instant replay!

Posted:

Wanna see yesterday's EUR/USD price action? Look at your screen! Eerie, isn't it? Trendline resistance has fallen to the 1.2361 level in the last several hours. Offers remain in the 1.2380/1.2400 area, traders report.

US OCC Text: 1Q10 Net Current Credit Exposure -$40B to $359B

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WASHINGTON (MNI) - The following is the Office of the Comptroller of the Currency summary of its first-quarter report on commercial bank revenues from trading cash and derivatives, published Friday: EXECUTIVE SUMMARY: - The notional value of derivatives held by ...

Germany Data: MNI Survey Of Econ Data Forecasts, June 28

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EMU Data: MNI Survey Of Econ Data Forecasts, June 28

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Merkel: Germany, EU have a clear position on deficits

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Now is the time to reduce deficits in Europe Must reduce budgets in intelligent ways to maintain sustainable growth

Differences with G20 on budgets a matter of “nuance”

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So says a very diplomatic Canadian official to Reuters. Germany wants Europe to cut budgets 'til its eyes bleed while the US wants to spend until happy days are here again...Nuance my arse...

Oil leading the charge

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Risk of a hurricane hitting the Gulf of Mexico is sending oil prices surging today, up $2 to 78.60 at the moment. EUR/USD is pushing higher, much like yesterday at this time, with a boost from the surge in crude. EUR/USD is up to 1.2330...

EUR/USD bouncing into the European close again

Posted:

Traders are reluctant to get caught short like they did on the European close yesterday and are quick to cover as the pair turns bid late in the day. We're up at 1.2310 after spending lots of time in the 1.2290s. Sellers are seen in the 1.2350/60 and 1.2390/00 areas.

Stocks extending slide

Posted:

The relief rally in US equitie on the back of a financial regulation bill finally being hammered out was short-lived and equities are on the slide in bothe Europe and the US. The S&P 500 is down 0.4%, eying support in the 1040 region today. We trade now around 1069. Fixed ...

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