Sep 16, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Japan vice FinMin: Won’t comment on whether Japan now intervening on forex

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BOE Survey: Yr Ahead Inflation Expecations Highest Since Aug’08

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Analysis: Aug Retail Sales Post First Monthly Fall Since Jan

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--Aug Retail Sales inc. fuel -0.5% m/m; +0.4% y/y --Aug retail sales ex fuel -0.4% m/m; +1.9% y/y LONDON (MNI) - Retail sales posted their first monthly fall for seven months in August, as consumers stayed away from the High Street following three months of robust growth. ...

Cable bounces; notable buyers seen

Posted:

The Big German and a US investment bank seen aggressive buyers from lows. We've gone from 1.5540 back up to 1.5585 very quickly. The US investment bank buying is the same one I mentioned selling above 1.5600 earlier. Nice work if you can get it. God's work seemingly as profitable as ever.

Talk BOJ bids 85.45/50 area

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We're up at 85.60.

TABLE: BOE Inflation Attitudes Data For Aug

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UK DATA: Aug Retail Sales inc. fuel -0.5% m/m; +0.4%.

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UK DATA: Aug Retail Sales inc. fuel -0.5% m/m; +0.4% y/y --Aug retail sales ex fuel -0.4% m/m; +1.9% y/y ------------------------------------------------------------------------ Retail sales volumes fell 0.5% m/m in August against expectations of a rise of 0.2% on the month, the first m/m fall since January. Ex-auto fuel the fall was 0.4% m/m. There ...

UK August retail sales -0.5% m/m, +0.4% y/y

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Much weaker than median forecasts of +0.3% and +2.0% y/y respectively. Now I know why I was hearing all those names selling. Cable has collapsed to 1.5540 in blink of an eye.

USD/JPY firms a smidgeon

Posted:

USD/JPY up at 85.50. Real money has been seen buying in recent trade. UPDATE:  Just hearing large Japanese commercial bank buying USD/JPY in recent trade as well.  Some speculation it's related to official intervention.

Russia, BIS sell cable…..

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In recent trade.  But it hasn't exactly collapsed, presently at 1.5623.  I keep being told who notable sellers are in cable and it doesn't go down. Go figure.

Is that it then?

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How high did EUR/USD get? What, 1.3034?  Anybody would have thought there were sell orders clustered up at 1.3035/50. We're presently back down at 1.3015.  Source mentioned to me "good names" seen on the offer up at 1.3035 and I said "what like Gerry"  I think I need a bloody good ...

Rpt: Preview: Inflation Expectations In BOE Survey May Fall

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--Other Surveys Of Expectations Point To Likely Drop In BOE Survey ...

Bruederle:Germany GDP Growth Could Markedly Top +2.5% In 2010

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BERLIN (MNI) - Domestic GDP growth this year could be markedly above 2.5%, even though momentum will likely moderate somewhat in autumn, German Economics Minister Rainer Bruederle said Thursday. "Germany has digested the economic and financial crisis faster than expected," ...

Moody’s senior analyst: Sees upward pressure on ratings for Poland and Czech Republic

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Hooray!!!

France Plans E2.5 Billion In Public Health Service Cuts:Press

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--Aim Is To Hold Health Deficit To E12 Billion In 2011 PARIS (MNI) - The French government is planning to unveil E2.5 billion worth of spending cuts in the health sector in order to contain the country's public health service deficit in 2011 to around E12 ...

China banking regulator: To speed up interest rate reform, margins will tend to narrow

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Plans to introduce leverage ratio and dynamic provision requirements New Basel capital rules won't have direct impact on Chinese Banks

China says “pressure” will not solve yuan problem, may have opposite effect

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China's Foreign Ministry adds Yuan appreciation will not solve US deficit, unemployment problems Problems should be solved through "consultation on equal basis" Making yuan more flexible based on domestic, external economic conditions

Cable slips back below 1.5600

Posted:

Presently at 1.5597.  US invesmtent bank notable seller in recent trade. Also just getting report sovereign name seller above 1.5600.

EUR/USD ticks little higher

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Presently at 1.3002, with Middle Eastern names notable buyers in recent trade.  As aforementioned sell orders seen clustered up at 1.3035/50.

BOJ Gov Shirakawa: Forex, stock markets remain unstable

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Will supply ample funds to mkts while keeping very easy monetary policy Expects forex intervention will stabilise forex market Will take timely policy action as needed

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