Aug 23, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Japan FinMin Noda: Was told by PM Kan to continue watching markets

Posted:

Want to continue close cooperation with BOJ PM Kan to consider meeting BOJ Gov Shirakawa when needed Yada yada yada..........

France To Cut Tax Write-Offs More To Hit 6% Deficit:BudgetMin

Posted:

PARIS (MNI) - A lower, more "realistic" forecast for French economic growth next year means that the government will have to reduce tax write-offs more in order to lower the public deficit to 6% of GDP, Budget Minister Francois Baroin explained in an interview published ...

German govt source says German cabinet will pass bank restructuring bill including bank charge plan on Wednesday

Posted:

Source says bank charge will be limited to a maximum of 15% of annual earnings Charges will only be levied on banks headquartered in Germany Charge will only be levied on banks that post annual profit Banking charge will not be tax deductable as business expense Restructuring process foresees transfering systemically-relevant business units to ...

Japan PM Kan to meet FinMin Noda later Monday on economic stimulus – Kyodo

Posted:

Yawn. USD/JPY sits at 85.35, unchanged on the day.

Those who read my opening EUR/USD comment closely….

Posted:

Will have noted talk of buy interest down at 1.2680.  Well the hills are alive with the talk of Asian buy interest down at 1.2680.  Sounds like it could include sovereign interest. We've been down to 1.2683, presently back up at 1.2705.  Funny old world. Ding dong. Is it home time yet?

Euro zone Aug flash manufacturing PMI 55.0

Posted:

Down from 56.7 in July and lower than median forecast of 56.2. Services PMI meanwhile 55.6, down slightly from 55.8 in July and pretty much in line with median forecast of 55.5. Composite 56.1, down from 56.7 in July and below median forecast of 56.4.

Cameron economy to take pounding. Traders turn bearish

Posted:

Bloomberg article. The guy who is TD Securities Chief FX strategist was my first boss when I become an analyst.  He was good then.  Looks like he hasn't lost his touch.

German Aug flash manufacturing PMI 58.2

Posted:

Down sharply from 61.2 in July and worse than median forecast of 60.5. Services PMI on the otherhand 58.5, up from 56.5 in July and above median forecast of 56.3.

Japan DPJ official: Not optimistic about yen rise, job conditions

Posted:

Need to take comprehensive economic steps

European stocks marginally firmer early

Posted:

DAX 30 up 0.3%; FTSE 100 up 0.3%.  CAC 40 up 0.3%

French August flash manufacturing PMI 54.7

Posted:

Up from 53.9 in July and better than median forecast of 53.4. But services PMI 59.9, down from 61.1 in July and below median forecast of 60.5.  Read is a 4 month low. Composite down at 59.0 from 59.7 in July.  5-month low.

AUD/USD touch firmer

Posted:

Up at .8925 from around .8910 when I started.  Reports real money has been buyer of the pairing in recent trade.

Japan senior govt official: PM Kan wants to work with ruling party on economy, yen steps

Posted:

Ruling party policy panel to compile economy steps proposal by Aug 26 USD/JPY touch easier from where we closed out last week, down at 85.35 from around 85.60.  Sell orders we reported Friday up at 85.80/00 continue to cap the topside. Expectations of Kampo interest down around 84.75/85.  Talk of stops through ...

UK interest rates “may hit 8%” in two years

Posted:

I say!!! Or maybe they won't.

America no longer needs Chinese money, for now

Posted:

Latest from AEP at The Telegraph.

Japan July Supermarket Sales -1.2%, 20th Y/Y Drop In Row

Posted:

TOKYO (MNI) - Sales at supermarkets in Japan open for at least a year fell ...

Australia’s Gillard says stable and effective govt continues

Posted:

Market understands stable govt continuing Most Australians wanted Labor govt Labor's lead in two-party vote a key factor in deciding outcome Key issue is which party can guarantee stability It will take time to resolve political situation Ability to deal with Senate a factor in future govt stability Will honour mining tax deal

EUR/USD off to slow start

Posted:

EUR/USD sits at 1.2718, effectively unchanged from where it closed out last week, with Asian trade seeing price action confined to a narrow 1.2681-1.2726 range. Euro zone data today: 07:00 GMT: French manufacturing PMI for August expected 53.4 from 53.9; services PMI 60.5 from 61.1 07:30 GMT: German manufacturing PMI for August expected ...

ForexLive Asian market wrap: AUD recovers well after early sell-off

Posted:

Australian election likely to end in hung parliament The AUD opened almost 1% lower but has slowly recouped almost all of these losses M&A activity continues to support the AUD BoJ Governor and Japanese PM talk about economy and FX but no intervention discussed Regional stockmarkets fall by less than 0.5% on average Pound may ...

EUR/CHF: Certainly looks like there is buying interest at 1.3135

Posted:

I've heard a few mentions of BIS buying in EUR/CHF around 1.3135 and a quick look at the hourly chart would certainly seem to suggest that there is something going on at that level. The last 20 hourly bars have been sitting just above there although if recent experience is ...
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