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- Riksbank Minutes Show Worry About FX Trends, Protectionism
- Irish woes Weigh on EUR/USD
- EUR and AUD Heading Back to the Low’s
- Russia’s G20 Sherpa Out of Line
- Six Straight Hours of Sideways Trading in EUR/USD
- EUR/CHF Edging Lower Again
- MNI Survey: Japan Sep C/A Surplus +4.9% Y/Y On Exports
- JPY Positioning
- China MOF: QE2 Hurts Mkt Stablity, Plays Down Tension With US
- Schaeuble Outlines Germany’s Proposal For EU Crisis Mechanism
- Call for Bretton Woods II Debate
- Shell to Sell its 10% Stake in Woodside Petroleum
- World Bank President Proposes Return To Gold Standard: FT
- EUR/USD Finds a Few Early Buyers
- BOJ Lowers Japan View for 2nd Straight Month, Economy Pausing
- AUD/NZD Up Today on Kiwi Fruit Infection
- Japan Sep Coincident Index -1.3 Pt M/M, 1st Drop In 18 Mths
- The Week Ahead
- Overdue Correction
- Quick look at the order board
| Riksbank Minutes Show Worry About FX Trends, Protectionism Posted: PARIS (MNI) - Policymakers at Sweden's central bank, the Riksbank, are worried about economic developments in the United States, global exchange rate trends and the potential for spiraling protectionism, according to the minutes of the bank's October 25 monetary policy meeting published Monday. ... |
| Posted: Traders are pointing to an article in the Irish Times which says the next crisis will be mass home mortgage defaults as part of the reason for the EUR/USD weakness. |
| EUR and AUD Heading Back to the Low’s Posted: EUR/USD has just made and AUD/USD is on the verge of making a fresh low for the day after topside gains proved hard going. EUR/USD remains weighed down by peripheral EU concerns with the added weight of solid EUR/JPY selling today. The market of course is heavily short US Dollars ... |
| Russia’s G20 Sherpa Out of Line Posted: Russia's G20 official says over Reuters that the "G20 should hold consultations before steps such as Fed's QE". I am not sure where he is coming from on this one. Since when has it been necessary for a country to consult other countries on domestic monetary policy. We of course ... |
| Six Straight Hours of Sideways Trading in EUR/USD Posted: EUR/USD after bottoming out at 1.3919 in Asia today has spent the next six hours in a modest 1.3931-77 range; last mid range at 1.3952. One could trade the range or buy and sell a break of 1.40 and 1.39 respectively. Otherwise go and buy a coffee - I don't ... |
| Posted: That harbinger of European risk - EUR/CHF is heading lower once more. The pair last at 1.3450 - intraday range 1.3436-1.3529. Whilst it's early in the day and we have not got any of those spread widening headlines, they may well be on the way. It seems despite bonds in ... |
| MNI Survey: Japan Sep C/A Surplus +4.9% Y/Y On Exports Posted: -- See Separate Table For Details TOKYO (MNI) - Japan's current account surplus for September is expected to have stood at Y1.654 trillion, up 4.9% on year, reversing from a 5.8% fall in August, a survey of economists conducted by Market News International found. ... |
| Posted: The IMM data highlighted a continued build up in Long JPY positions in the week ending Nov 02. Further to my earlier post about US Dollar positioning, HSBC says JPY is now moving to the more extreme levels that prevailed prior to the BOJ intervening on Sept 15. Traders point ... |
| China MOF: QE2 Hurts Mkt Stablity, Plays Down Tension With US Posted: BEIJING (MNI) - The Chinese government continued to criticize Washington's economic policies Monday, accusing the Federal Reserve of endangering global economic stability. But Ministry of Finance Vice-Minister Zhu Guangyao played down tensions in the bilateral relationship at a briefing for ... |
| Schaeuble Outlines Germany’s Proposal For EU Crisis Mechanism Posted: BERLIN (MNI) - German Finance Minister Wolfgang Schaeuble in an interview published Monday revealed first details of his government's proposal for restructuring sovereign debt in the case of a future fiscal crisis of an Eurozone member state. "I envisage a ... |
| Call for Bretton Woods II Debate Posted: The President of the World Bank Robert Zoellick (writing in the FT and covered by CNBC) says we should readopt a modified global gold standard to guide currency movements. Zoellick says a system would include US Dollars, Euro, Yen, GBP and Yuan. |
| Shell to Sell its 10% Stake in Woodside Petroleum Posted: Whilst we don't know the FX implications of this sale (need to know by who and to pay in what) at this stage, this deal will be remembered for the Australian Treasurer (Peter Costello) famously at the time stepping in and vetoing the full takeover of Woodside by Shell saying ... |
| World Bank President Proposes Return To Gold Standard: FT Posted: PARIS (MNI) - The world's biggest economies should consider returning to some form of gold standard to anchor global currencies, World Bank President Robert Zoellick said in an opinion piece published over the weekend. Writing in the Financial Times, Zoellick argued that a replacement is needed for ... |
| EUR/USD Finds a Few Early Buyers Posted: Early London traders say the sell-off witnessed in Asia today looks a little overdone. Most have been buyers but the rally from where I sit looks a little half-hearted. The market as outlined earlier remains positioned ultra short US Dollars and whilst these levels look attractive compared to last Thursday, ... |
| BOJ Lowers Japan View for 2nd Straight Month, Economy Pausing Posted: TOKYO (MNI) - The Bank of Japan on Monday slightly revised down its overall assessment to say the economic recovery appears to be "pausing" in its monthly report for November, downgrading is view for the second straight month. ... |
| AUD/NZD Up Today on Kiwi Fruit Infection Posted: AUD/NZD is up nearly 50 points from its low today to 1.2825 with dealers suggesting on news this morning news that a newly discovered vine infection is threatening the NZ$1.5bln kiwi fruit export industry. So before you take a Kiwi position check the fruit! |
| Japan Sep Coincident Index -1.3 Pt M/M, 1st Drop In 18 Mths Posted: -- Japan Sep ... |
| Posted: Data wise we see a very light week ahead aside from China which kicks off its bevy of data releases on Thursday with trade followed by the rest on Friday headlined by CPI - with China ditching its relaxed monetary stance, the CPI is the one to watch. In the US ... |
| Posted: Whilst there might have been a 1001 reasons to blame the moves witnessed today on the most obvious is market correction. The IMM futures positions as at end of day 2 Nov showed US Dollar short positions had increased from the previous week from 27.5bln to 29.3bln. HSBC says this ... |
| Posted: Most of the close orders were wiped out this morning by the stop-loss hunting and this is what I'm still aware of: AUD/USD: Stops below 1.0080; corporate buyers 1.0000/30 EUR/GBP: Solid bids .8570/80 USD/CHF: Sell orders seen around .9750 USD/JPY: Corporate sellers above 82.00; heavy stops also reported above 82.00 |
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