Nov 9, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/USD recovering

Posted:

Amid talk of decent buying surfacing from Middle Eastern names. They've apparently been seen buying decent amounts from 1.3850.  We've quickly moved up to 1.3895 at writing. Cable recovering too, presently at 1.6120.  Guess the old Reserve Bank of India is having a good day.

EU Barroso: EU Economic Recovery Not Firmly Established Yet

Posted:

BRUSSELS (MNI) - Europe's economic recovery is not yet firmly established, with some countries performing better than others, European Commission President Jose Manuel Barroso said on Tuesday. Some Eurozone countries are recovering much more rapidly than others, with Germany posting strong growth ...

Germany Sets 1.00% Coupon On New 2Y Note;To Sell E6 Bn Nov 10

Posted:

FRANKFURT (MNI) - The German federal government set a 1.00% coupon on the E6 billion in new 2-year notes (Schatzanweisungen) that it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 10:00 GMT Wednesday, November 10 with ...

UK Analysis: Sep Trade Deficit Narrows As Exports Rise

Posted:

--Sep global goods deficit Stg8.228bn vs Stg8.473bn in Aug --Sep global goods/services deficit Stg4.57bn vs Stg4.889bn in Aug --Sep global goods deficit ex oil/erratics Stg6.981bn vs Stg7.096bn Aug --Sep global goods deficit median forecast Stg8bn; total Stg4.5bn LONDON (MNI) -- The UK's good trade deficit narrowed in September as ...

UK Analysis: Sep Manufacturing Growth Weakest For Five Months

Posted:

--Sep manufacturing output +0.1% m/m; +4.8% y/y; median +0.2;+4.9 --Sep industrial production +0.4% m/m; +3.8% y/y; median +0.4; +3.6 LONDON (MNI) - Manufacturing output continued to rise in September, but at the slowest pace for five months, figures released by National Statistics showed Tuesday. ...

UK DATA: Sep global goods deficit Stg8.228bn vs in…

Posted:

UK DATA: Sep global goods deficit Stg8.228bn vs Stg8.473bn in Aug --Sep global goods/services deficit Stg4.57bn vs Stg4.889bn in Aug --Sep global goods deficit ex oil/erratics Stg6.981bn vs Stg7.096bn Aug --Sep global goods deficit median forecast Stg8bn; total Stg4.5bn ------------------------------------------------------------------------ The global goods deficit narrowed slightly to Stg8.2bn in Sep, broadly in line with the ...

UK DATA: Sep manufacturing output +0.1% m/m; +4.8%…

Posted:

UK DATA: Sep manufacturing output +0.1% m/m; +4.8% y/y; median +0.2;+4.9 --Sep industrial production +0.4% m/m; +3.8% y/y; median +0.4; +3.6 ------------------------------------------------------------------------ Manufacturing output rose 0.1% m/m in Sep, a little below the median forecast of +0.2%, and the weakest since April. The wider measure of industrial production was up 0.4% m/m in ...

Irish/German 10 year govt bond yield spread 571 bps, up 3 bps on day

Posted:

No improvement yet.  I met two Irish guys from Cork on the plane back from Boston. They were returning home after 3 months away from home and their families working in construction in Boston.  Only way they could get work given the situation at home.  Very sad. Portuguese/German 10 year govt bond yield spreads ...

Rpt: Greek FinMin: Greece ‘Not Ireland’ – Banks Under Control

Posted:

--Repeating Report First Transmitted To Wire 20:09GMT Monday LONDON (MNI) - Greek Finance Minister Giorgios Papaconstantinou sought to distance his country from troubled Ireland tonight, saying that Greece "is not Ireland" and stressed that Greece's banks had not got ahead of themselves as in Ireland. ...

Germany Seeks Bids For E1 Bn 1.75% 2020 Linker Sale Nov 10

Posted:

FRANKFURT (MNI) - The German federal government on Tuesday formally announced it is seeking bids on the E1 billion top up of its 1.75%-coupon inflation-linked 10-year bond on November 10. Bids are due by 1100 GMT on Wednesday, with auction ...

Reports PBOC selling USD/CNY

Posted:

I wonder if they really mean business on the reval front. We'll see. Will be weighing on EUR/USD.  Theory is if PBOC means business, less need for other Asian countries to buy dollars versus their home currencies, resulting in less rediversification flows out of dollars into euros.  EUR/USD presently at 1.3843 in ...

India buys cable as well

Posted:

Below 1.6100. Not that we're really any higher, presently at 1.6093. (Update: We are now, presently at 1.6105.  Clever old India) I might have to take those words back in a few hours.

Sovereign seen buying EUR/USD

Posted:

Reserve Bank of India seen buying EUR/USD in recent trade.  We're presently at 1.3850.

EUR/JPY slipping; stops noted

Posted:

EUR/JPY cross slipping lower, presently at 111.90 from early 112.10. Talk of stops through 111.90. Guess we're about to see how big they are.

FRANCE DATA: Sept sa merchandise trade deficit bln…

Posted:

FRANCE DATA: Sept sa merchandise trade deficit E4.683 bln after -E4.975 bln in August (revised from -E4.932 bln) - Trade balance below expected MNI analysts survey median forecast of -E4.3 bln - Jan-Sep trade balance -E38.341 bln vs Jan-Sep 2009 -E30.645 bln

Cable slipping in early European trade

Posted:

Down at 1.6092 from around 1.6115 when  I arrived.  Overnight  UK RICS data came in at -49, lowest read since April 2009. UK house prices look set to continue their sojourn lower in coming months and that ain't a good thing given the fragility of the economy. Talk of stops gathering in ...

FRANCE DATA: Sep central govt deficit E124.2 bln,….

Posted:

FRANCE DATA: Sep central govt deficit E124.2 bln, down 1.4 bln y/y - Jan-Sep govt outlays +17.5% y/y; revenues +20.5% y/y

FRANCE DATA: Manufacturing execs surveyed in October.

Posted:

FRANCE DATA: Manufacturing execs surveyed in October expected nominal investment spending to rebound by 9% in 2011 - For 2010 they revised down their investment projection to -2% from +5% forecast in July.

Barclays Q3 profit declines 76% as investment bank reports loss

Posted:

Bloomberg report.

Analysis: BoF Survey Signals Pick-Up, Firmer Growth Ahead

Posted:

PARIS (MNI) - French economic activity picked up slightly in October both in industry and services, and near-term prospects point to somewhat stronger growth through the end of this year, the Bank of France said Tuesday, citing the results of its monthly business survey. ...

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