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- ForexLive US wrap-up: Alarm bells ringing at Fed after NFP
- Specs increase short dollar position materially
- Consumer credit falls less than expected
- Letting some air of the CAD balloon
- Why didn’t anybody tell me?
- 1.3260/65 important support level in the near-term
- Analysis:Unclear Fed Ready to More Than Discuss New Stimulus-2
- Analysis: Unclear Fed Ready to More Than Discuss New Stimulus
- Text:Bernanke:GSE Refrm Shld Incl Risk-Based Govt Guar Pricng
- Goldman cuts US GDP forecast, sees QE-lite
- US Hill Kicks Key Fiscal Issues, Including Tax Cuts, to Fall
- Germany Data: MNI Survey Of Econ Data Forecasts, Aug 9
- GBP/USD fails to overcome 1.6000 on second attempt
- USD/JPY dip reaches 85.02
- Equities turn sharply lower
- New York consultancy sees QE-lite on Tuesday
- EUR/USD consolidating gains; cable holds below 1.6000
- Cable reaches 1.5999
- Next Wk/US: Fed Mon Pol Meeting, Retail Sales, CPI, Intl Trade
- White House: Don’t believe the numbers when they are bad…
| ForexLive US wrap-up: Alarm bells ringing at Fed after NFP Posted: US non-farm payrolls fall 131,000, private sector jobs rise 71,000; unemployment rate steady at 9.5%; weaker than expected Chair of White House Council of Economic Advisers Christina Romer resigns UK NIESR sees UK GDP slower ahead on austerity Goldman Sachs predicts Fed will announce reinvestment of MBS paydowns into Treasuries or more mortgage-backed ... |
| Specs increase short dollar position materially Posted: So far the move is paying off, but it is worth noting that the speculative short dollar position among IMM speculators is at $14.9 bln this week from $5.7 bln last week, according to Reuters. |
| Consumer credit falls less than expected Posted: Consumer credit fell $1.3 bln in June, less than the $5 bln economists predicted. Is John Q Public dusting off his Visa card? Not yet, credit card debt fell for the 21st straight month, according to Reuters. |
| Letting some air of the CAD balloon Posted: USD/CAD has enjoyed a very solid rebound today on the back of poor Canadian employment figures. Odds of an endless series of BOC rate hikes shrink by the day... 1.0270/80 resistance has been broken and should provide some support now on pullbacks; Resistance is heavy between 1.0375 and 90. Looks like ... |
| Posted: Yesterday was International Beer Day. I missed it. I can't believe I missed it. Hey, wait a minute? Will it be like Christmas? Will they have clearance sales today? Maybe this is the opportunity of a lifetime! |
| 1.3260/65 important support level in the near-term Posted: EUR bulls would be very disappointed if EUR/USD were to slide back and close below the 1.3260/65 area that capped it for the first part of the week. Small trailing stops are seen below that level now and more selling could be seen later in the session if we are ... |
| Analysis:Unclear Fed Ready to More Than Discuss New Stimulus-2 Posted: By Steven K. Beckner (MNI) - Federal Reserve Chairman Ban Bernanke cited a "weak" housing market, credit strains for small business and the "important drag" on spending caused by the "slow recovery in the labor market." Nevertheless, he said, "My colleagues ... and I expect continued ... |
| Analysis: Unclear Fed Ready to More Than Discuss New Stimulus Posted: By Steven K. Beckner (MNI) - Usually, though not always, the August meeting of the Federal Open Market Committee is noneventful, and next week's meeting of Federal Reserve policymakers in the "dog days of summer" is likely to be no exception. ... |
| Text:Bernanke:GSE Refrm Shld Incl Risk-Based Govt Guar Pricng Posted: WASHINGTON (MNI) - The following is the text of a letter sent July 23 by Federal Reserve Chairman Ben Bernanke to Rep. Marcy Kaptur: Dear Congresswoman: Enclosed are my responses to the written questions you ... |
| Goldman cuts US GDP forecast, sees QE-lite Posted: Goldman sees the US economy growing at only a 1.5% pace through the end of 2010 and rising only 1.9% in 2011 from a prior 2.5% forecast. Unemployment is expected to rise to 10% by the beginning of 2011, they say. The Fed will adopt QE Lite next Tuesday, though it ... |
| US Hill Kicks Key Fiscal Issues, Including Tax Cuts, to Fall Posted: --Fate of 2001, 2003 Tax Cuts to Dominate September Deliberations --Congress Must Still Pass All 12 FY11 Spending Bills This Fall --House, Senate Expected to Have Limited Agenda Before Nov. 2 Elections By John Shaw WASHINGTON (MNI) - While it is very clear that Congress has deferred ... |
| Germany Data: MNI Survey Of Econ Data Forecasts, Aug 9 Posted: ... |
| GBP/USD fails to overcome 1.6000 on second attempt Posted: This time prices topped out at 1.5993. Maybe we'll have to wait for Monday to take another crack at the big barrier level. The dollar is seeing a short-covering rally across the board in the run-up to the European close. EUR/USD has dipped back to 1.3280, cable to 1.5975 and AUD ... |
| Posted: USD/JPY is flirting with the 85.00 level and the 2-year Treasury note is flirting with the 0.50% level. Looks like we need a move in one to confirm a break in the other. 85.00 barriers are rumored being defended while 84.82 is the technical target, dating back to last November. USD/JPY ... |
| Posted: US equities have turned sharply lower in the last few moments. Not sure if there is a fresh catalyst... US bond yields are approaching session lows on the short-end of the curve (0.509% 2-yr) while the longer end of the curve see yields plunging (2.825% in 10s). Risk aversion looks to be ... |
| New York consultancy sees QE-lite on Tuesday Posted: The closely watched New York consulting shop which caters to a hedge-fund clientele predicts that the Fed will adopt a policy the market has dubbed QE-lite at next Tuesday's meeting. The Fed would reinvest the proceeds of maturities and prepayments in their mortgage-backed securities and reinvest them in Treasuries. The market ... |
| EUR/USD consolidating gains; cable holds below 1.6000 Posted: Score one for the Panda! He seems to have held back the tide in cable, halting the rally at 1.5999, preserving his 1.6000 trigger. Expect buyers to emerge toward the 1.5870 area in cable, the old highs broken earlier this morning. EUR/USD support comes in at 1.3260 but given the speed ... |
| Posted: The defense of 1.6000 continues with cable reaching the 1.5999 level. Options-desks are trying to wipe as much as they can off their books so they can ring the register on the premium and eliminate the exposure. Don't mindlessly sell these rallies in the currencies today. The market is extremely momentum ... |
| Next Wk/US: Fed Mon Pol Meeting, Retail Sales, CPI, Intl Trade Posted: By Theresa Sheehan PRINCETON (SMRA) - The two most significant pieces of economic data in the week ahead are the reports on retail sales and the Consumer Price Index. When taken in context with the employment report, these will have much to say about conditions in ... |
| White House: Don’t believe the numbers when they are bad… Posted: The White House says that the monthly jobs numbers are volatile and that they are subject to substantial revision. Don't read too much into one-months numbers, they say. Do you remember them saying that in a month when the data were strong? Me neither... |
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