Aug 17, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Germany Sets 2.25% Coupon For E6 Bln New 10Y Bond Sale Aug 18

Posted:

FRANKFURT (MNI) - The German federal government has set a 2.25% coupon for the E6 billion of new September 2020 10-year bonds that it will sell Wednesday, the Bundesbank said Tuesday. Bids are due by 09:00 GMT Wednesday. The results ...

German ZEW due in 10 minutes

Posted:

We should see another flurry of EUR activity but I'd be cautious about taking any large positions based just on this data; look what happened to the EUR after the excellent German GDP numbers last week, it fell 150 pips soon thereafter.

UK CPI +3.1% YoY, as expected

Posted:

Cable has fallen 30 pips immediately. (Edit) BoE Governor Mervyn King will now publish his third 'please explain' letter of the year

EUR demand continues as crosses rally

Posted:

Looks like EUR/GBP is leading the way in early trade and it is up 55 pips on the day; next resistance there is at .8260. EUR/CHF has also rallied almost 100 pips which is little surprise after yesterday's inexplicable (at least to me) drop. Hourly resistance in EUR/CHF is at 1.3450.

China broadens uses of Yuan

Posted:

Reuters are reporting that China is intensifying it's efforts to encourage use of the Yuan for trade purposes. It is allowing Yuan clearing banks in HK and Macau, foreign central banks and certain overseas banks to place surplus Yuan in the mainland bond program.

Japan: Ruling coalition ally asks Govt for JPY11 trillion stimulus package

Posted:

If they could find a way of encouraging Japanese spending rather than saving then they'd be a lot closer to getting out of their deflationary trap.

EUR/USD ticking higher: ACBs spotted at these levels overnight

Posted:

No sign of them yet but an Asian central bank was spotted selling at 1.2870 last night during NY trade. Next technical resistance of note is the Friday night high of 1.2906.

Japan Press: PM Kan Likely To Meet BOJ Shirakawa Next Week

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TOKYO (MNI) - Japan's Prime Minister Naoto Kan will likely have a meeting with Bank of Japan Governor Masaaki Shirakawa next week to discuss current economic and financial conditions, the Nikkei reported in its evening editions. The meeting of between ...

One for Australia watchers…..

Posted:

Thanks Chris for reminding me of this article...I saw it earlier but didn't post; the article mentions that the newly elected government after next weekend's election have the say in how the board of the RBA is re-structured. Not something to trouble the currency either way but the make-up of ...

Debt Virus Spreads After Make-Believe Recovery: Matthew Lynn

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Under the surface, the cracks in the euro are getting worse, says Matthew Lynn, Bloomberg

Merkel to stick with cuts despite growth

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Angela Merkel, German chancellor, is sticking with plans to cut public spending and hold off tax cuts even as the country's recent growth spurt suggests that the economy this year could expand at twice the rate last forecast by Berlin

China Cuts Long-Term Treasuries By Most Ever as Yields Drop

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China cut its holdings of Treasury notes and bonds by the most ever, raising speculation a plunge in U.S. yields has made government securities unattractive...from Bloomberg

US House Mortgage Arrears Mount

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Mortgage delinquencies have risen in nearly all US congressional districts from the levels of the last election, highlighting the political pressure on US policymakers - One of the key things that can bring the house down...or at least the economy, the stock market to boot...this from the UK Financial Times

Nikkei – Lowest close in eight months

Posted:

at 9161.68 down 0.38%

Rater Becomes the Rated ! Moody’s getting a touch of their own medicine ?

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Moody's sold bonds for the first time—taking advantage of soaring demand for corporate debt and historically low rates—in an offer Monday that was met by mixed reviews

AUD performing well on the day…

Posted:

With the Nikkei only down 0.2% the AUD is holding above 0.9000 and hovering around 77.00 against Yen; Resistance between 0.9015/35 including 0.9025 the 20 day MA looks to be tested and a clean break will take pairs higher and squeeze some speccy shorts

Japan- Ex MoF Watanabe……

Posted:

current Yen moves are stable no need now for action to stem Yen rise Tokyo may step in if Yen moves are rapid Yen will weaken before long, Yen will not rise much above 85.00 Edit: Consider this - the more the market gets rebuffed at the lower levels, the stronger the technical reversal ...

South Korean CB buying USD against Won at 1,175

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Something to be converted later no doubt

Japan’s Arai says Government to start debating stimulus steps on 20 August

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from JiJi News Also via Kyodo Arai - yen rise may not cease with verbal intervention Yen rise may be in the final stage Need to watch the Yen rise for now

ForexLive Asian Session Wrap – Quiet session, threat of BOJ makes for minor retreat…

Posted:

Treasuries, Gold continue to rally UK economy: Rally in Gilts unlikely to last USD/JPY: Verbal intervention a certainty, actual intervention possible China Confronts Export Dependence After Surpassing Japan..from Bloomberg Australia: RBA Minutes – Rates Unchanged, pending 'further information' China Jan-July FDI +20.7% from a year ago - 'export growth will continue to slow in coming ...
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