Jul 15, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Something to take onboard (Part 2)

Posted:

Brokers report further surge in buying of overnight EUR/USD strikes 1.2825, 1.2835, 1.2850. EUR/USD at session high 1.2795. Earlier had been talk of 1.2800 barrier option interest.  Guess some betting it'll not last long.

Spain sells 2.99 bln euros of 2025 bond

Posted:

Bid to cover ratio 2.57 vs 1.79 at last auction.  Average yield 5.116% vs 4.43% at last auction.  Good news. EUR/USD 1.2780.

Italy Bank Assn Head: Stress tests so far show Italy banks’ high resistance to macrofinancial shocks

Posted:

Comment will have helped support euro. EUR/USD presently at 1.2767 having been as high as 1.2780. Elsewhere Greek bank stocks up around 4% as Piraeus bank bids for ATEbank.

BOJ’s Shirakawa: Yen rise hurts exports short-term

Posted:

These comments out little while ago, about an hour or so. Japan economy moving in line with BOJ April outlook Watching forex, stock moves carefully Europe financial market remains unstable Yen rise, stock falls may affect economy but recovery seen intact Both upside, downside economic risks higher than in April Watching risk of big swings occurring ...

Some more cable stuff

Posted:

Just reading some comments made by Commerzbank analyst regarding cable at present time.  Says it's a tricky call. Draws attention to 1.5310 down channel.  Sees close above 1.5310 opening up move to 1.5525/60 area, potentially 1.5710. However, she favours small shorts between 1.5280-1.5300 with tight stop at 1.5310. T/P 1.5085. Guess it's ...

Riksbank Minutes Show EMU Situation Key Factor For Rate Path

Posted:

BRUSSELS (MNI) - The Eurozone sovereign debt crisis poses the key risk to the Riksbank's tightening cycle, which began July 1, according to minutes of the Swedish central bank's July monetary policy meeting, released Thursday. At its July 1 meeting, ...

Something to take onboard

Posted:

Brokers note decent interest to buy topside 1.2835 overnight strikes. EUR/USD creeeping higher, presently at 1.2740. Talk couple of European funds have been good buyers EUR/USD in recent trade.

AUD/USD trying to steady; notable buyer seen

Posted:

AUD/USD trying to steady after early sell-off, presently at .8775 from session low .8755. Talk big German has been buying in recent trade.

Some cable stuff

Posted:

Talk of 1.5300 barrier interest. Talk stops gathered in 1.5310/20 area.

Fed’s Lacker: Safe Bet Next Move A Rise, But Not Yet Time:FT

Posted:

FRANKFURT (MNI) - It is a safe bet that the Federal Reserve's next move on interest rates will be a rise, but now is not the time for it, Federal Reserve Bank of Richmond President Jeffrey Lacker said in an interview published Thursday. ...

Talk BIS been buying EUR/USD

Posted:

In recent trade. We're presently at 1.2727.

Potential M&A flows will be helping support cable

Posted:

Possible M&A flows will be lending cable some support. Talk Bank of New York Mellon is interested in aquiring Uk hedge fund Man, with potential for deal of some GBP 5.5 bln. Elsewhere, Japan's Nippon  Telegraph & Telephone (NTT) has bid for UK listed S.African IT company Dimension Data. the offer valued at £2.1 bln. Cable ...

Germany’s EconMin Hints 2010 GDP Might Be Above Fcast +1.4%

Posted:

BERLIN (MNI) - Germany's Economics Minister Rainer Bruederle hinted in a newspaper interview published Thursday that German GDP might grow at a stronger clip this year than the +1.4% forecast by the government. "In 2010 we will have, according to ...

EMU 14 Car Regs Post Third Straight Y/Y Decline In June

Posted:

FRANKFURT (MNI) - Passenger car registrations in the Eurozone, excluding Cyprus and Malta, were down 11% on the year in June, following May's 13.8% dip, according to data from the European Automobile Manufacturers' Association (ACEA) released Thursday. ...

Yes, it’s a bank recommendation!!!

Posted:

As it's rather quiet thought I'd bring to your attention  Westpac's latest recommendation on AUD/USD, as reported by Dow Jones. They feel it's time to sell AUD/USD with initial target low .8600 region.  They suggest adding to position on strength to .8910, with stop in high .89's. Reasoning: Fears about global economic outlook, particularly China, will ...

EUR/USD busy consolidating recent gains

Posted:

EUR/USD sits at 1.2740, effectively where it closed out Wednesday in North America, the pairing consolidating recent gains. News China's Q2 growth slowed to 10.3% from 11.9% in Q-1, slightly below median forecast of 10.5%, has had limited effect on the pairing. Very limited euro zone data today: 06:00 GMT: EU 25 new ...

BOJ – No Change in Target 0.10%

Posted:

BOJ Board median forecast Japan GDP seen +2.6% in year to March 2011 ( April forecast +1.8%) BOJ says Policy Board decision was unanimous Japan Core CPI seen - 0.4% in year to march 2011 ( April forecast -0.5%) BOJ maintains economic assessment Japan business sentiment improving Important to pull Japan out of deflation BOJ will ...

ForexLive Asian Market Wrap – China GDP Briefly Ignites Life into A Subdued Session

Posted:

Singapore GDP growth data will increase the pressure on the MAS to allow the Singapore dollar to appreciate further Australian New Motor Vehicle Sales drops 1.2% after last 3.2% A disappointing launch on the Shanghai stockmarket for AgBank; will they fare better on the hang Seng tomorrow ? China's GDP stronger than expectation; ...

Europes Leaders Losing Popularity As Austerity Measures Called For

Posted:

Here we have Zapatero calling for support ; closely followed by the troubled Berlusconi Sarkozy has other problems to boot and Merkel is still struggling to pull up her own support having been at the lowest ebb.....

Caution for the Sterling Bears ! I Know You Are Out There…

Posted:

It wasn't that long ago that the bearish view for sterling was heavily based, certainly in the real-money world, on a concern for the viability in value of the UK gilts; here PIMCO have reversed their view Should the market maintain it's current generally bearish stance on the USD, demand for ...

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