Forex technikal and fundamental analysis: Your forexlive.com ENewsletter

Jul 22, 2010

Your forexlive.com ENewsletter

AUD/USD firmer on day but notable seller just turned up
BIS sells EUR/USD but pairing rallies further
Analysis:UK Q2 Retail Sales Quarterly Growth Highest In 2 Yrs
China may publish nominal effective exchange rate of yuan in future – CBank Vice Gov
UK retail sales stronger than expected
Bank of Spain says sets time of stress test presentation at 16:30 GMT July 23
EU’s Rehn: Trusts stress tests will give clear picture of state of European banking system
Euro zone July flash manufacturing PMI 56.5
Someone steps in and takes their profits in EUR/USD
EUR/USD, EUR/JPY rebound
Japan ruling party calls on govt to cut waste in next fy budget
Germany Wise Men Head: German GDP Could Grow By 2% This Year
Germany Bank Assn: 2Q GDP Strong, Growth Momentum Then To Slow
UK economy set for “triple whammy” admits Bank chief
EUR/JPY gives further ground
EUR/USD slips slightly as European trade gets underway
USD/JPY slips slightly in early European trade
Japan June Supermarket Sales -1.4% Y/Y, Down 19 Months In Row
Reuters poll trend: Australian PM Gillard’s Labor extends lead in August 21 election campaign
Hungary will negotiate with EU about next year’s budget – PM’s spokeswoman

AUD/USD firmer on day but notable seller just turned up

Posted:

AUD/USD up at 8840 from early .8760 (session high .8845). Getting reports China has turned up on the offer.

BIS sells EUR/USD but pairing rallies further

Posted:

Talk BIS sold around 1.2825 in recent trade but EUR/USD has edged a little higher, presently at 1.2835.

Analysis:UK Q2 Retail Sales Quarterly Growth Highest In 2 Yrs

Posted:

--June Retail Sales inc. fuel +0.7% m/m; +1.3% y/y --June retail sales ex fuel +1.0% m/m; +3.1% y/y LONDON (MNI) - Retail sales volumes rose sharply in June, helped by extra sales of electrical items in the run up to the World Cup, and second quarter growth ...

China may publish nominal effective exchange rate of yuan in future – CBank Vice Gov

Posted:

This move would lessen focus on yuan's exchange rate vs dlr

UK retail sales stronger than expected

Posted:

Have come in at +0.7% m/m, +1.3% y/y vs median forecasts +0.5%, +1.0% respectively. Cable has extended rally to session high 1.5237. ONS says sales driven by World Cup boost to sales of electrical goods.

Bank of Spain says sets time of stress test presentation at 16:30 GMT July 23

Posted:

There you go, how difficult was that? EUR/USD sits at 1.2805. Earlier stops through 1.2810 were tripped on way to session high 1.2825. Euro bulls seem little leery of taking on "concentrated" sell orders up at 1.2830/50. Well at least for now.

EU’s Rehn: Trusts stress tests will give clear picture of state of European banking system

Posted:

EU has tools to fix any weaknesses in the European banking system Any troubled banks should first seek financing help from shareholders and markets Elsewhere European stress test results may be published sooner than 16:00 GMT on Friday, but no final decision -sources. That's it, go complicate things!!!

Euro zone July flash manufacturing PMI 56.5

Posted:

Better than the expected 55.2. Services PMI 56.0, better than median forecast 55.0. EUR/USD extends rally to session high 1.2816. Composite 56.7, better than median forecast of 55.5. Elsewhere European stocks are rallying after opening lower.

Someone steps in and takes their profits in EUR/USD

Posted:

We're presently at 1.2793. Talk Russia has been seller in recent trade. Jobber supreme. Nice little profit having bought down at 1.2750/55. Talk of stops gathering just above 1.2810.

EUR/USD, EUR/JPY rebound

Posted:

EUR/USD and EUR/JPY have both rebounded from early pressure, presently back up at 1.2795 and 110.80 respectively. Talk is that good European corporate demand surfaced for both pairings around the lows. Talk sell orders up at 1.2800/10 in EUR/USD but not said to be too heavy. More substantial orders said to lie at ...

Japan ruling party calls on govt to cut waste in next fy budget

Posted:

DPJ calls on govt to prioritise spending on generating growth, ending deflation Calls on govt to prioritise spending on creating jobs, achieving campaign promises Will accept "natural rise" in social welfare costs in next fy budget requests Meanwhile USD/JPY has steadied, aforementioned buy orders at 86.30/40 enough to absorb the early selling pressure. ...

Germany Wise Men Head: German GDP Could Grow By 2% This Year

Posted:

BERLIN (MNI) - The German economy could grow by around 2% this year, but there are more risks to the outlook for next year, Wolfgang Franz, the head of the government's council of independent economic advisers, said in an interview published Thursday. ...

Germany Bank Assn: 2Q GDP Strong, Growth Momentum Then To Slow

Posted:

BERLIN (MNI) - The German Bank Association (BDB) expects strong German GDP growth in the second quarter before momentum starts to slow. In its latest monthly report released Thursday, the association said quarterly GDP growth of above 1% was possible ...

UK economy set for “triple whammy” admits Bank chief

Posted:

Deep joy. Cable slightly lower in early trade, down at 1.5165 from around 1.5185 when I arrived. Talk of stops through 1.5145. UK retail sales data for June scheduled for release at 08:30 GMT, median expectations +0.5% m/m, +1.0% y/y.

EUR/JPY gives further ground

Posted:

EUR/JPY down at 110.20 from early 110.55 with major Swiss bank seen notable seller in this latest dip. Would suspect stops parked not far below psychological 110.00 line.

EUR/USD slips slightly as European trade gets underway

Posted:

EUR/USD has slipped slightly in early European trade, presently at 1.2753. Getting reports Russia buyer of pairing in very recent trade. EDIT: Reports US investment bank notable seller during early dip.

USD/JPY slips slightly in early European trade

Posted:

USD/JPY sits at 86.40, down slightly in early European trade. As some had suspected Fed's Bernanke did the pairing no favours yesterday, with his downbeat assessment of the US economy driving funds into the safe haven yen. Talk buy orders 86.30/40 before stops through 86.25. Talk of 86.00 barrier option interest with ...