Sep 13, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

France’s FinMin Lagarde: Basel 111 brings “significant improvement” to banking regulations

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Basel 111 will allow "economic growth and financing of growth"

Swiss National Bank seen on top EUR/USD

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Not hearing specific levels. Hardly a shock though is it? We're presently at 1.2810. On the flip side large system fund seen buying in recent trade.

German engineering sector assoc VDMA says doubles 2010 production growth forecast to 6%

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Cites extraordinarily good new orders in recent months Increasing number of countries support upswing, strongest momentum from South America, Asia News has helped lift EUR/USD back over 1.2800 after brief dip below. We're presently back up at 1.2805.

UK’s Maude: Government Will Engage With Trades Unions On Cuts

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LONDON (MNI) - A senior UK government minister pledged this morning to engage with public sector trade unions over the impact of cuts in government spending. UK Cabinet Office Minister Francis Maude told BBC Radio 4 that the government "will ...

BIS seen seller EUR/USD

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Around 1.2820. We're presently at 1.2812.

UK business sees double dip

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British businesses believe the country could be headed for double dip recession, according to a survey from accountants and business advsors BDO LLP published Monday. Not that the possiblity of a UK recession is on forex traders' minds this morning.  Sterling off to a good start, cable up at 1.5485 from early ...

Germany’s EconMin: HRE Bank Could Not Be Allowed To Fail

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BERLIN (MNI) - German Economics Minister Rainer Bruederle said Monday that it was "quite a surprise" to him that the government's Financial Market Stabilization Fund (Soffin) on Friday had to grant the state-owned lender Hypo Real Estate (HRE) additional loan guarantees of up to E40 ...

IMF’s Strauss-Kahn: Must acknowledge crisis will not be over until unemployment drops significantly

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FRANCE DATA: July current account deficit narrowed…

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FRANCE DATA: July current account deficit narrowed to E2.2 bln from E2.7 bln in June, as - Bigger services surplus (+E1.9 bln after +E1.3 bln) - Higher net investment revenue (+E2.5 bln after +E2.3 bln) offset - Bigger trade shortfall (-E4.4 bln after -E4.1 bln).

French July current account balance -2.2 bln

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Vs unrevised -2.7 bln in June

ECB’s Wellink: Banks ultimately need hundreds of billions of more capital following new Basel rules – Radio

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ECB’s Ordonez Hails Basel III Bank Reforms; Uncertainty Over

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BASEL (MNI) - The Basel III bank reforms agreed on Sunday are very welcome and point to the end of a period of uncertainty, European Central Bank Governing Council member Miguel Fernandez Ordonez said on Monday. "I'm very, very glad ...

Asian sovereign buys EUR/USD and GBP/USD

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Asian sovereign has reportedly been buying both EUR/USD and GBP/USD in recent trade.  Sounds like a bit of reserve diversification.  EUR/USD up at 1.2822, GBP/USD at 1.5460.

UK unions threaten strikes, civil disobedience and campaign of resistance over cuts

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Happy Dayz......

European, IMF officials begin new Greece inspections

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Due to start today.

ECB Liikanen: New Basel III Rules Will Support Recovery

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BASEL (MNI) - New global rules to reinforce the volume and quality of capital in the banking system will support the economic recovery and will not dampen bank lending, European Central Bank Governing Council member Erkki Liikanen said early Monday. ...

EUR/USD sees pop in Asia as risk sentiment improves

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EUR/USD sits up  at 1.2795 having closed out last week down around 1.2680.  The euro has garnered a decent lift from improved risk sentiment in the wake of the Basel 111 agreement and strong Chinese data releases. Asian stocks have made ground and European stocks look set to trade appreciably firmer.  FTSE 100 ...

ForexLive Asian market wrap: EUR rallies after Basel III, Chinese data

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Economic data out of China shows strong industrial production and strengthening domestic demand China has done very little on exchange rate- Geithner Basel III : Bank rules agreed upon Financial shares rise after Basel agreement EUR moved higher in early session trade after a large hedge fund bought a significant amount of EUR/USD. Interbank ...

EUR/USD holds onto gains as European open nears

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It's been very quiet for the last 4 hours after the initial spike higher in the EUR/USD. Hourly resistance at 1.2800-10 is still capping EUR/USD but the pullbacks have also been very limited. Dealers say that short-covering has been the main driver as market sentiment improved after the Basel III ...

Around the markets: Equities 1% higher, led by financials

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The Nikkei, HK and All Ords are around 1% higher and the Kospi is +0.5% with bank stocks leading the gains after the Basel III agreement on capital rules. Gold is at $1247/oz and oil at $77.25/bbl. The FX market remains fairly quiet although the USD continues to slide gradually lower ...
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