Forex technikal and fundamental analysis: Your forexlive.com ENewsletter

Jul 13, 2010

Your forexlive.com ENewsletter

ZEW institute July German economic sentiment index 21.2 vs 28.7 in June
BIS seen buying EUR/USD
UK OBR Head Budd: No pressure on us to change budget numbers or bring forward publication
Portugal FinMin: Moody’s downgrade had been expected by markets
EUR/GBP lower on day; buy orders noted
UK June CPI +0.1% m/m, +3.2% y/y. Core +2.8% y/y
Fitch Analyst Sees UK Debt Stabilising; Recovery Not V Strong
USD/JPY touch easier on day; sell orders noted
Cable little lower on day, inflation data awaited
Slovak Fin Min: Hopes Government To Decide On EU Aid Fund Wed
BoF’s Noyer Favors 50-Bp Hike In ‘Livret A’ Yield To 1.75%
Germany Confirms To Sell E4 Bln New July 2042 Bonds Jul 21
Moody’s Thomas: Expect Portugal govt to come up with more consolidation steps in 2011
Germany Seeks Bids On E5 Bn Top Up Of 2.25% S157 Bobls Jul 14
ECB Liquidity Absorbing Fine-Tuning Operation At 13:00 GMT
Moody’s Downgrades Portugal To A1, Stable Outlook
ECB: E61.118 Bln Covered Bond Purchases Settled Jul 12
Moody’s downgrades Portugal
Cyprus FinMin: Stress tests will strengthen European banking sector
Slovakia FinMin: Hopes Slovakia will decide on signing EFSF aid fund on Wednesday

ZEW institute July German economic sentiment index 21.2 vs 28.7 in June

Posted:

Weaker than median forecast of 25.0.

BIS seen buying EUR/USD

Posted:

In recent trade. We're presently at 1.2542 having been as low as 1.2523 earlier.

UK OBR Head Budd: No pressure on us to change budget numbers or bring forward publication

Posted:

OBR forecasts include possibility of double-dip, also stronger recovery OBR's Dick's meanwhile says chances of double-dip recession have increased after budget.

Portugal FinMin: Moody’s downgrade had been expected by markets

Posted:

Moody's stable outlook shows confidence in current economic policy Fiscal consolidation may not guarantee quick economic recovery, but needed for sustained growth

EUR/GBP lower on day; buy orders noted

Posted:

EUR/GBP down at .8338 from early .8378 after Moody's Portugal downgrade and slightly stronger than expected Uk inflation data. Reports buy orders lying in wait down around .8325.

UK June CPI +0.1% m/m, +3.2% y/y. Core +2.8% y/y

Posted:

Generally very marginally stronger than expected, median forecasts having been for flat, +3.1% and +2.8% respectively. ONS says biggest downward impact on CPI from petrol prices, clothing and footwear, upward impact from airfares, insurance. Sterling has garnered marginal lift, cable presently at 1.5022. EDIT: DCLG house prices +11% y/y, stronger than median forecast ...

Fitch Analyst Sees UK Debt Stabilising; Recovery Not V Strong

Posted:

LONDON (MNI) - Senior Fitch Ratings Analyst Brian Coulton believes that UK debt will stabilise in the wake of what he called the 'strong' emergency budget announced by the new government here. Speaking to Bloomberg, Coulton said that Fitch took ...

USD/JPY touch easier on day; sell orders noted

Posted:

USD/JPY down at 88.45 from early 88.60. Talk of sell orders at 88.70 up through to 89.10. Some of the sell interest is said to be linked to Mizuho's share offering. The Japanese bank plans to raise JPY 748 bln. The issue price will be set between July 13 and 15 and payments ...

Cable little lower on day, inflation data awaited

Posted:

Cable down at 1.4995 from early 1.5025, having been as low as 1.4966 after stops were tripped through 1.5000 and 1.4980. Inflation data for June now awaited at 08:30 GMT. CPI expected flat m/m, +3.1% y/y, core +2.8% y/y. Also out DCLG house prices for May expected +10.2% y/y.

Slovak Fin Min: Hopes Government To Decide On EU Aid Fund Wed

Posted:

BRUSSELS (MNI) - Slovakia hopes to make the final decision on Wednesday about whether or not it will sign a deal to contribute to the E440 billion European financial stability fund, the country's finance minister Ivan Miklos said. The 16 ...

BoF’s Noyer Favors 50-Bp Hike In ‘Livret A’ Yield To 1.75%

Posted:

PARIS (MNI) - Bank of France Governor Christian Noyer proposed Tuesday a half-point hike in the yield on popular "livret A" savings accounts to 1.75% in August, in line with the rules established for its calculation The parameters for calculation ...

Germany Confirms To Sell E4 Bln New July 2042 Bonds Jul 21

Posted:

FRANKFURT (MNI) - The German federal government confirmed that it would sell E4 billion of a new July 2042 30-year bond on July 21, the Bundesbank announced Tuesday. The tender offer for the 30-year sale will be made on ...

Moody’s Thomas: Expect Portugal govt to come up with more consolidation steps in 2011

Posted:

Targets for 2010 credible, strong pressure on Portugal to meet deficit targets next year After downgrade, upside risks offset downside risks in Portugal Portugal still in high end of investment grade, no further revision planned for 12 months

Germany Seeks Bids On E5 Bn Top Up Of 2.25% S157 Bobls Jul 14

Posted:

FRANKFURT (MNI) - The German federal government on Tuesday formally sought bids for the E5 billion top-up of its 2.25% coupon Series 157 5-year Bundesobligationen (Bobls) to be sold July 14. Bids are due by 0900 GMT on Wednesday, July ...

ECB Liquidity Absorbing Fine-Tuning Operation At 13:00 GMT

Posted:

FRANKFURT (MNI) - The European Central Bank announced Tuesday that it is launching a liquidity-absorbing fine-tuning operation today at 13:00 GMT. The operation takes the form of a variable rate tender with a maximum bid rate of 1.00%, without a ...

Moody’s Downgrades Portugal To A1, Stable Outlook

Posted:

LONDON (MNI) - Moody's today downgraded Portugal to A1 and put the country on stable outlook. Moody's said that the country's financial strength was likely to weaken over time while growth prospects remained relatively weak. A ...

ECB: E61.118 Bln Covered Bond Purchases Settled Jul 12

Posted:

FRANKFURT (MNI) - The European Central Bank said Tuesday that a total of E61.118 billion Eurosystem covered bond purchases had settled as of July 12. As of July 11, settled acquisitions had totaled E61.118 billion, the ECB said Monday. ...

Moody’s downgrades Portugal

Posted:

To A1 from AA2, stable outlook EURUSD trips stops through 1.2540, presently at 1.2523. Moody's says downgrading Portugal by 2 notches because financial strength to weaken over medium term. Moody's says Portugal growth likely to remain weak unless structural reforms bear fruit in medium to long-term.