Jun 4, 2010

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Your forexlive.com ENewsletter

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ForexLive N.American Wrap: Risk off, yen major beneficiary

Posted:

U.S. May non-farm payrolls +431k, below median forecast of 513k. Private sector jobs paltry 41k. Unemployment rate down to 9.7% from April's 9.9% France's Lagarde: Majority G20 favour budget consolidation as top priority.  G20 sees risk of overheating in some Asian countries, Latin America Obama: May jobs report is sign the U.S. ...

S&P down 3%

Posted:

EUR/USD sliding again, presently at 1.1985, with sources saying a west coast bank has been notable seller in recent trade. Oil off over 3 1/2 bucks.

US Economist: Euro Woes Not Yet Crisis But Time Is Running Out

Posted:

--Need More Aggressive Support From ECB For European Financial System --Should Not Read Too Much Into May US Jobs Report; Trend Positive By Brai Odion-Esene WASHINGTON (MNI) - The White House did not express as much disappointment with May's weaker-than-expected U.S. employment report as did many economists and ...

USD/JPY extends sell-off

Posted:

USD/JPY continues its slide, presently down at 91.60. The move comes with US treasury yields continuing lower against the backdrop of heightened risk aversion (treasuries in demand as safe haven) and disappointing US jobs data. 2 year yield down at 0.7261 from 0.8095 when I started today.  10 year yield down at 3.2168 from ...

EUR/USD holding up pretty well despite further slippage in stocks

Posted:

EUR/USD sits at 1.2010, holding up pretty well despite further slippage in US stocks (S&P off 2.47%) Sources report real money buying in recent trade.

US stocks still sliding

Posted:

S&P now down 2.35%.  EUR/USD slips back under 1.2000, presently at 1.1990.

Hungary C.Bank: External/internal balances have improved significantly

Posted:

Current account shows surplus, external financing capacity seen positive in next 2 years 4.5%/GDP budget deficit for 2010 based on budget trends Fiscal tensions from debts of state-owned firms no threat to sustainable finances Remains committed to 3% inflation target

I’m being told the bid at 1.20 the figure is…..

Posted:

LARGE. But is it large enough to hold back the overwhelming euro negativity? That's a whole different ball of wax. Personally I'm still interested to see whether that guy i mentioned earlier is correct. Eventual test and breech of 1.2000 followed by short squeeze. He's nearly there on the first part. If ...

U.S. stocks extend slide

Posted:

S&P down 1.74% at writing, helping pressure EUR/USD.  We're back down at 1.2030. Only another 4 hours and I can go home.

Hungary is not in a situation close to default – Head of opposition socialist parliamentary group – News agency MTI

Posted:

EUR/USD sits at 1.2045, trading post US jobs report being confined to a narrow range so far. Opposition Socialist parliamentary group leader Attila Mesterhazy says Hungary has no "fiscal skeletons" in the budget and the country is not in a situation close to default.

A well known think tank apparently saying……

Posted:

1.2000 in EUR/USD is a sensitive level for China. I have no more details other than that. Might help explain latest pop in EUR/USD. EDIT:  Sources telling us that think-tank musings not seen as "that important"

Interesting titbit

Posted:

Someone with a vested interest in 1.2000 barrier has been seen buying down around 1.2020 and selling up around 1.2050. Like a little microcosm of what we normally see our furry friend do. Funny old world.

White House adviser Romer: “Clearly we have a very long way to go” before U.S. Labour market fully recovered

Posted:

Continued high unemployment, slowdown in private sector job growth show need for continuing vigilance

Obama says May jobs report is sign U.S. economy is getting stronger

Posted:

Yer, absolute gangbusters.

Atlanta Fed’s Lockhart: Must Heed Crisis Lessons on Banks

Posted:

--Banks Can't Grow Too Fast, Must Avoid Lending Concentrations --Southeast Econ Continues to Rebound, Proxy for US Economy By Heather Scott WASHINGTON (MNI) - Banks and supervisors must heed the lessons of the financial crisis and avoid errors such as growing too fast, relying on wholesale funds, or ...

France’s Lagarde: Euro is credible currency

Posted:

ECB has acted responsibly Majority of G20 favour budget consolidation as top priority G20 sees risk of overheating in some Asian countries, Latin America Recovery more fragile in euro zone Hopes G20 will stick to timetable on new bank capital rules Supervisors should have powers to ban short selling under specific circumstances

US BLS: Weak May Priv Payrolls;NonRes Const Down,Health Slows

Posted:

--May Payrolls +431K; Unemployment Rate 9.698% By Denny Gulino WASHINGTON (MNI) - Like a steroid-fueled home-run record, the May jobs report went into the books with an asterisk because without 2010 Census workers, it showed an unexpected weakness, nearly no change. The ...

Here’s what I’m hearing re EUR/USD stops

Posted:

Reports stops through 1.2015 and 1.1980.  Why anyone would put their stop around 1.2015 is beyond me, but that's what I'm hearing.

EUR/USD still struggling to rally, so far

Posted:

Sources report seeing hedge funds and real money continuing to sell into any sort of rally in the pairing.  We're presently at 1.2040 having been as low as 1.2019 so far. Defence of aforementioned 1.2000 barriers lending a modicum of tenuous support.

US non-farm payrolls +431k, private sector jobs 41k

Posted:

Disappointing.
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