Aug 18, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Analysis: EMU Construction Rebounds In June;2Q Posts Recovery

Posted:

June: +2.7% m/m, -3.1% y/y May: -0.7% m/m (revised from -1.0%) April: +0.5% m/m (revised from -0.3%) March: +6.6% m/m (revised from +6.5%) February: -6.0% m/m (revised from -6.2%) January: -1.6% m/m (revised from -1.9%) --- ...

BOE Agents: Private Sector Employment Plans Rise

Posted:

--Agents Warn Public Sector Cuts To Offset Private Recruitment --BOE Agents: Business Confidence Has Ebbed In Recent Months ...

BIS seen selling EUR/USD

Posted:

Up at 1.2880/85.  Sorry to interupt. I was just sitting at my desk sorting out my horse bets and my reuters messaging system went ping.

Just in case the cable rally continues

Posted:

I think 1.5690 is a good place to book some profits. Then look to re-load on dips back towards 1.5550- sounds like a plan Stan.

More on MPC minutes

Posted:

Surveys point to manufacturing strength in Q3 Lower market interest rates should boost activity but offset by rise in GBP and weak credit Rise in cost of agricultural commodities suggest further inflation volatility Arguments for hike included improving economy, risk of rising CPI Arguments for easing included credit conditions, weak demand, budget measures

MPC voted 8-1; Sentance voted for 25bps hike

Posted:

Cable has rallied after the release of the minutes, touching a high of 1.5600.

Cable rallies back to 1.5550 pre-MPC

Posted:

Still no confirmation that the BIS were on the bid in EUR/USD on the EBS interbank trading platform but the quick bounce certainly looks suspicious. Cable has also bounced back nicely from its earlier 1.5500 low and volatility is surely about to increase very soon.

Reminder that BIS were buying EUR/USD at these levels last night

Posted:

No sign of them yet today but they were very active overnight, buying dips in EUR/USD around the 1.2835 level.

Who’s clever idea was it to buy GBP?

Posted:

Ah right, that would have been me. Well since I've gone long GBP/AUD and GBP/CHF (admittedly only in small) the pound has been the biggest loser in the FX market. Longs have again bottled after 1.5550 was clearly broken and dealers say that stops below 1.5530 ahead of tonights MPC ...

Germany’s Retail Sales Revision Show More Modest June Decline

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FRANKFURT (MNI) - Revised figures for German retail sales show a smaller monthly decline in June and a stronger annual increase than initially estimated, the Federal Statistical Office reported on Wednesday. The stats office said that retail sales dipped 0.3% ...

Follow the money trail: China doubles it’s Korean bond holdings

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Here's an interesting piece from Bloomberg which shows how the financial world is changing. China is looking to diversify away from the US and Europe (ex-Germany) and will increase its focus on Asian markets. These markets are still too small to deal with the weight of Chinese money but this ...

German June Retail Sales Real Revisions Announced

Posted:

revised to - 0.30% from previously announced - 0.90% MoM revised to +4.7% YoY , previously announced +3.1%

Cable finding support at 1.5500 for the moment

Posted:

I am afraid I don't know what or who was responsible for the quick hit but bids appeared at the figure 1.5500; perhaps the BOE minutes are going to be scary as gerry always warns ! AUD also looking soft this afternoon, clearly the wider view that the Greens may ...

Beijing looks to broaden renminbi use

Posted:

China will allow foreign central banks and overseas lenders substantially to increase investment in its domestic interbank bond market...via Financial Times

Japan Average Regular Gasoline Price Drops For 12th Wk In Row

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TOKYO (MNI) - The average price of regular gasoline in Japan this week ...

Japan June Coincident Comp Index Unrev +0.1 Pt, 1st Rise In 2

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-- Japan June Prelim Leading CI Rev +0.4 Pt M/M, 1st Rise In 3 Mths -- Cabinet Office Repeats: CI Shows Japan Economy Improving TOKYO (MNI) - Japan's coincident composite index (CI), which reflects current business conditions, rose an unrevised 0.1 point to 101.3 in June, after ...

Nikkei back up 1.0% with little reaction

Posted:

Meantime sterling watchers have 3 1/2 hours before the gospel from the BOE's Monetary Policy Committee - Cable going nowhere fast !

Australian Election – Reuters Poll has Gillard on a 3 point lead at 51.5%

Posted:

looking at a 4 seat majority ( last was 16 seats) all about the key marginal seats

ForexLive Asian Session Wrap – hope of consolidation faded as equities again brought risk down

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BHP bid for Potash helps equity markets rally in the US session but enthusiasm waned during Asian session - it was announced that Potash rebuffed the approach Sovereign debt still looms as the market's biggest problem, according to AEP's latest from the UK Telegraph Pimco's Gross Urges `Full Nationalization' of Housing Finance, ...

Bourse Update

Posted:

Nikkei went into lunch up 0.4%, Hang Seng flat, Shanghai Composite down 0.47% after earlier positive, Kospi up 0.15%, AllOrds down 0.08% The risk selling has continued with the Shanghai market turning soft EUR/JPY 109.60 EUR/USD 1.2840 AUD/JPY 76.96, AUD/USD 0.9014 CABLE 1.5545
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