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• ForexLive US wrap-up: EUR stalls above 1.2600 after poor employment report
• Last algo to leave, turn out the lights
• Hadn’t seen this one
• Can I deem it closing time?
• Markets going their own way
• US Budget Week: CBO’s Long-Term Fiscal Report Adds To The Gloom
• Global growth woes weighing on commodity currencies
• 1.2535/40 should contain dips near-term
• Heavy selling of the flightless bird
• Stress test results expected in July
• EUR/USD in demand at 15:00 GMT fixing
• Next Wk/US: Thin Data Cal; Cons Credit,Non-Mfg ISM, Same-Store
• Don’t go bust ’til August, boys
• Factory orders fall 1.4%; worse than -0.5% expected
• IMRG/Capgemini: UK Online Retail Sales Growth Slowing
• Merkel: We’ve bought ourselves time
• Oh, by the way
• Japanese investors now have their ducks in a row
• Have they had their fill?
• Another BRIC in the wall: India raises rates

ForexLive US wrap-up: EUR stalls above 1.2600 after poor employment report Posted: US non-farm payrolls fall 125,000; unemployment rate falls to 9.5% as discouraged workers abandon the search India raises interest rates 0-25% to cool inflation and inflation expectations Merkel: Eurozone has only bought itself time regarding the economic crisis; must consolidate budgets US factory orders fall 1.4% in May; much weaker than expected ESFS should ...

Last algo to leave, turn out the lights Posted: Just chatting with one of the stragglers in the market and he reports that liquidity has dropped off to nothing. Trying to square up even odds and ends in anything but the majors is proving problematic. Looks as though we've found a base for EUR/USD in the 1.2530s through the weekend ...

Hadn’t seen this one Posted: Here's one factor spooking commodity currencies, no doubt. Uber-China bull Goldman Sachs cut their growth forecast for the rest of the year.

Can I deem it closing time? Posted: The US House "deemed" a 2010/2011 budget last night in a legislative first. Perhaps that was part of the recent dollar drop; a complete loss of faith in the political class in Washington... They seem to be begging to be voted out of office come November.

Markets going their own way Posted: EUR/USD seems to have hooked up with the S&P once again but we've not yet returned to the days of "risk-on" or "risk-off" Oil's down another buck and a quarter today to $71.50 but bond yields are backing up. 0s are at a 2.97% yield from 2.91 session lows. Stocks are ...

US Budget Week: CBO’s Long-Term Fiscal Report Adds To The Gloom Posted: --Congressional Budget Office Says U.S.'s Fiscal Challenges Mounting --CBO Says Deficits Will Fall As Recovery Takes Hold --Then Rise Again --Senate Budget Chief: Must Begin To Consider 'Pivot' To Deficit Cuts --Key Budget Watchdog Group Sees Need For Entitlement and Tax Reform By John Shaw WASHINGTON (MNI) - ...

Global growth woes weighing on commodity currencies Posted: Commodity currencies are being sold off once again ahead of the weekend with a looming double-dip undermining sentiment. AUD has given back all its earlier gains and has in fact put in a double top, my favorite pattern, on the short-term charts. From the double-tops at 0.8490, a move through the ...

1.2535/40 should contain dips near-term Posted: Don't expect a big pullback in EUR/USD this afternoon though a dip toward the 1.2535/40 area where we dipped after payrolls is a possibility. Expect activity to be quite light for the balance of the session with most US traders taking a three-day weekend to celebrate Independence Day. Interest rate and ...

Heavy selling of the flightless bird Posted: Traders report heavy selling of kiwi by a US investment bank. It's slumped to 0.6880 from 0.6825 in about 20 minutes. AUD is trading lower in sympathy. dropping to 0.8420 from the 0.8455 area little more than 20 minutes ago. CAD is at its lows for the day as US equities turn ...

Stress test results expected in July Posted: EU finance ministers will discuss the release of stress test results when they meet July 13 and will coordinate their release to the public. The results will be out no later than late July, the EU source tells Reuters. The credibility of the stress tests have been dealt a severe blow ...

EUR/USD in demand at 15:00 GMT fixing Posted: Traders report talk that the market needs to buy Euros at the late-London fixing We head into the fix around 1.2590. Asian central banks are sellers above 1.2600, we hear. Similar sellers are rumored in cable toward 1.5250.

Next Wk/US: Thin Data Cal; Cons Credit,Non-Mfg ISM, Same-Store Posted: By Theresa Sheehan PRINCETON (SMRA) - The week-ahead is shortened by a government holiday Monday. The economic data calendar is almost devoid of any major releases, the U.S. Congress will be in recess, and public speakers will be few and far between. ...

Don’t go bust ’til August, boys Posted: Reuters reports that a source tells them the EFSF will be operational at the end of July or in early August. The ESFS is the vehicle set up by the euro zone to issue bonds to fund sovereign bailouts. In all likelihood the ESFS staff will be on holiday in the ...

Factory orders fall 1.4%; worse than -0.5% expected Posted: April revised to +1.0 from 1.2% None-defense capital goods orders ex-aircraft (core) up 3.9%, solid Another unimpressive bit of US data.

IMRG/Capgemini: UK Online Retail Sales Growth Slowing Posted: LONDON (MNI)- Annual online retail sales growth will slow to 13% this year, down from 14% in 2009 and way below the 25% surge in growth seen in 2008, according to projections from the IMRG/Capgemini E-retail sales index, released today. ...

Merkel: We’ve bought ourselves time Posted: One trillion dollars and all they've bought themselves is time? The Chancellor says Europe must now do the hard work of securing the euros future. Unemployment could fall below 3 mln in Germany this year, she says while backing away from prior commitments on tax relief. The focus must be on ...

Oh, by the way Posted: I can't remember which one of you was giving me crap last week for pointing out that the 10 and 21-day moving averages had crossed bullishly and that events like that are often a catalyst for medium and long-term players to cover shorts. EUR/USD did not immediately rally, therefore I was ...

Japanese investors now have their ducks in a row Posted: Looks like Japanese investors have gotten their marching orders as traders report order books are building to buy USD/JPY on dips. Buyers are seen scattered from the 87.30 down toward 86.00 with many expecting verbal intervention to begin before long to try and carve out a bottom in the trading range. ...

Have they had their fill? Posted: It took a while, and over 400 pips in not much more than a day, but it looks as though the market may have finally had its fill of EUR/USD. The emergence of China on the offer, taking some profits, no doubt, has cooled the market's frenzied buying, at least ...

Another BRIC in the wall: India raises rates Posted: India raised rates 0.25% between meetings to cool inflation and anchor expectations. Shows how out of sync some of the emerging markets are without the developed economies. EUR/USD is dipping on the news, as well as on selling from Asian central banks into strength.

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