Sep 18, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ForexLive US wrap-up: European debt woes return to headlines

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US CPI rise 0.3%, unchanged ex-food and energy University of Michigan consumer sentiment index falls to 66.6 preliminary in September from 68.9 final in August Fitch downgrades Spanish regions of Catalonia and Andalusia Irish FinMin, IMF deny Ireland will need external financial help Japan PM Kan  tips fresh stimulus spending, continued steps ...

Moody’s:Calif More Likely to Issue IOU;Shdn’t Harm Local Govt

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By Yali N'Diaye WASHINGTON (MN) - California's ongoing budget woes makes it more likely that the state will issue registered warrants, but that should not negatively impact the local government's credit quality, Moody's said Friday. "The possibility of a temporary interruption ...

USD/CAD: Plenty of sellers but still hanging around 1.0300

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Traders report decent selling from US real money accounts in USD/CD this afternoon as well as selling from local banks in Toronto. That said, the pair does not seem to want to budge, consolidating this morning's rally around the 1.3000/10 area. Turning to the medium-term outlook, hanging overhead we have the ...

Obama to meet China’s Wen in New York next week

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At the UN General Assembly, I assume. Currencies will no doubt be a topic....

Poland Belka:Much Liquidity In Global Mkts Looking For Yields

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VIENNA (MNI) - Poland's Central Bank governor Marek Belka said Friday he is concerned about the volume of liquidity in the market searching for high yields. Capital inflows into his country are growing on a daily basis, the former IMF ...

Afternoon Q&A

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It's a dreary Friday afternoon here in Boston...let's liven things up with another afternoon Q&A session, sponsored by FXDD. Why not support ForexLive by opening an account today? Fire away, folks.

Fed’s Tarullo:More Work Needed on Paymnt,Clearing,Settl Systems

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By Steven K. Beckner (MNI) - Federal Reserve Governor Daniel Tarullo said Friday that, notwithstanding the revamping of bank regulation, there is still a lot of work to do to improve supervision of payments, clearing and settlement systems. Tarullo also observed ...

CRB index at critical levels

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The risk trade is in for a stern test today. The S&P tested and stalled at the top of its summer range in the 1130 area and the CRB index is doing the same. The commodities index has struggled in the 281 area on six separate occasions since April of this ...

US Data Prev: NAHB Hsg Index Expected To Remain At Low Levels

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By Kenneth Fung WASHINGTON (MNI) - The National Association of Home Builders' Housing Market Index, a measure of home builder confidence, is expected to register another drop in September as problems remain in the battered housing market. The index will ...

US DATA: Fed Q2 Flow of Funds data show dom debt…..

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US DATA: Fed Q2 Flow of Funds data show dom nonfinancial debt +4.8% SAAR, vs +4.5% in Q1. Private debt declined, while federal govt debt continued to grow rapidly. Household debt contracted in its 9th drop as home mortgage debt -2-1/4% vs -4-1/4% in Q1 and consumer credit fell. Household ...

Flow of funds: US net worth down $1.5 trln

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The Fed's quarterly flow of funds report is out and it shows the net worth of US households fell $1.5 trln in Q2 to $53.5 trln. Household debt contracted 2.3%, the ninth straight quarterly decline Mortgage debt fell 2.4% US government debt rose at an annual rate of 24.4 pct; state and local ...

USD/CAD wreaks more P&Ls

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Talk about your reversals... USD/CAD rocketed higher in recent trade, setting off a mass exodus and triggering stops above 1.0260, 1.0290 and again above 1.0320. We've broken a trendline in place for the better part of three weeks and triggered a double-bottom pattern (See chart). The measured-move objective on the double-bottom ...

Analysis: BOE Speeches, Data Point To Continued Policy Pause

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LONDON (MNI), Sep 17 - This week's rash of post-purdah Bank of England Monetary Policy Committee speeches, as well as recent economic data releases, suggest no decisive shift in the balance of opinion within the committee. Recent data have failed ...

Japanese EconMin: Economic conditions increasingly severe

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Economy minister Kaieda says the economic situation is becoming increasingly sever in Japan and that an extra budget is needed this fiscal year. For "normal" currencies, comments like these would weaken the domestic currency. The yen is far from a normal currency. The worse the economy gets, the stronger the currency ...

ECB Mersch: Bond-Buying Not Eternal; Early Exit Risks Tension

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FRANKFURT (MNI) - The European Central Bank's program of government bonds purchases on the secondary market will not go on forever, but a premature exit could cause market tensions, ECB Governing Council member Yves Mersch explained in an interview released Friday. ...

USD/JPY downtrend a bit more valid after stall

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As i noted yesterday, the trendline in USD/JPY was not the strongest in the world given that the line had only been touched twice and hadn't been touched in three months. Today's price action makes the line a bit more valid as we have stalled in the rough area where ...

Gun man shot near US Capitol

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Perhaps this caused the quick dip to 1..3020.

US DATA: Jul JOLTS are out, say “There were 3.0 job..

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US DATA: Jul JOLTS are out, say "There were 3.0 million job openings on the last business day of July 2010. The job openings rate increased over the month from 2.1 percent to 2.3 percent; it was 1.8 percent in July 2009.

Nerves of steel? Not today

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The market is afraid of its shadow today. EUR/USD hit an air-pocket from 1.3055 to 1.3020 and no one really knows why..we're back more or less where we started as if nothing ever happened. As Sean would say, it's a good day to sort out that sock drawer...

Eurogroup’s Juncker to meet with China to discuss FX

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Juncker, fresh off his broadside at Japan for intervention, takes his show on the road to give China a dose in a meeting with PM Wen on October 6.

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