Jun 29, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone June economic sentiment stronger than expected

Posted:

Has come in at 98.7, up from 98.4 in May, and better than median forecast of 98.2.

UK May mortgage approvals 49,815

Posted:

Versus 49,828 in April, lower than median forecast of 51,000. Mortgage lending +1.184 bln, stronger than median forecast of +0.8 bln.  Consumer credit +0.331 bln, stronger than median forecast of +0.1 bln.

EUR/GBP trading at session low. Talk of stops just below

Posted:

EUR/GBP down at .8100 from early .8125.  Talk of stops now through .8090. Cable holding up pretty well so far today given heightened risk aversion, presently at 1.5050.  Talk of some stops through 1.5010 and larger seen through 1.4970.

Analysis: BOE’s Favoured M4 Measure Highest Since Q3 2007

Posted:

--BOE: May M4 Ex-intermediate OFCS +1.0% m/m; +9.2% 3m Annualised --BOE: UK May House Purchase Approvals 49,815 vs 49,828 Apr --BOE: May M4 Ex-IOFCs 3m Annualised last higher Q3 2007 --BOE: UK May Net Mortgage Lending stg1.184bn vs stg0.979bn Apr --BOE: UK May Net ...

TABLE: BOE Mortgage, M4 ex-IOFCs Data For May

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...

Spain’s EconMin: Spain wants stress tests to be published as soon as possible

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Says ECB must be aware of needs of Spain's financial system (guess this could well relate to 442 bln funding repayment, don't have details)

Germany Confirms To Top Up Jul 2020 10Y Bund By E5 Bln Jul 7

Posted:

FRANKFURT (MNI) - The German federal government confirmed Tuesday that it will sell about E5 billion in a top-up of its 3.00%-coupon July 2020 10-year bund on July 7. The formal tender for the auction will be announced on Tuesday, ...

Germany Seeks Bids For E6 Bn Top-Up Of 0.50% 2Y Schatz Jun 30

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids Tuesday for the E6 billion top up of its 0.50%-coupon, two-year notes with a June 2012 maturity, the Bundesbank announced Tuesday. Bids are due by 0900 GMT on Wednesday, with ...

Russia FinMin Kudrin says oil price could fall below $60 a barrel in coming 3 years

Posted:

That would be good.

For those with an interest in AUD/JPY….

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Talk of stops through 76.00 in the cross, which is down at 76.28 from early 77.10.

More EUR/USD dnt talk

Posted:

Hearing there is a 1.2200/1.2400 dnt in place, expiring this coming Friday. We're presently at 1.2222.  One good rumour and that's toast.  Damn, why did I have to mention toast!!

More Noyer….

Posted:

You just can't get enought Noyer, that's what I say.  More pearls ECB will make sure there is enough liquidity after repayment of 12-month funds (bone of contention with euro zone banks, especially Spanish) Some European banks may suffer, but ECB will make sure there are no problems BACKGROUND:  Here's FT article re ...

ECB: E60.205 Bln Covered Bond Purchases Settled Jun 28

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E60.205 billion Eurosystem covered bond purchases had settled as of June 28. As of June 27, settled acquisitions had totaled E59.872 billion, the ECB said Monday. The ...

ECB Noyer: No Problem For French Banks Repaying 1-Year LTRO

Posted:

--But some other Eurozone banks might suffer PARIS (MNI) - French banks will have no problem paying back money they borrowed from the European Central Bank in a one-year refinancing operation that expires later this week, ECB Governing Council member and Bank of France Governor Christian ...

EUR/USD continues lower after stops tripped; buy orders noted

Posted:

EUR/USD is down at 1.2231 after stops through 1.2250 were tripped as risk aversion picks up.  European stocks following their Asian counterparts lower, oil off hefty one and a half bucks. Talk now of sovereign buy orders lying in wait down around 1.2220.  Will they be enough to stem the tide.  ...

Good on ya Sean!!!

Posted:

EUR/CHF 1.3251 change 1.3295. Excellent flow info from Sean who earlier advised buy orders lying in wait down at 1.3250.

USD/JPY; I just remembered something!!!

Posted:

Jamie's comment of June 22nd regarding Nomura recommending clients buy 1-year 88/98 dnt to take advantage of the lack of movement in the USD/JPY pairing. If their advice was taken, then we might expect to see some fairly stern protection of the 88.00 line.  Just a thought. We're presently at 88.82 ...

ECB’s Noyer: Countries need to stop building up debt

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We have no major problems with French banks French growth in 2011 seen around 2% French govt can cut deficit without hurting growth Need 5-10 years of budget tightening to exit from crisis

Shanghai share index off 4%

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Chunky!!

EUR/CHF slip sliding away….

Posted:

The sell-off continues as SNB stays at home. deflation no longer deemed a problem. We're down at 1.3285 from early 1.3330. Sean mentioned talk of buy orders lined up at 1.3235/50.  Will be interesting to see if they're enough to soak up the selling pressure.

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