Nov 20, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ForexLive US wrap: Week ends with a whimper

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BOE's Tucker: UK inflation not a sign of strength; economic slack to pull inflation down to or below 2% Buba's Weber: Bond buying should stop sooner not later; ECB has clear mandate-lending to governments not part of it Trichet: Regarding imbalances, Euro area must be considered as a single entity ECB's Gonzales-Paramo: ECB ...

Time for a Friday tune…

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Pat down showdown

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There is growing outrage over new "aggressive" screening of US air travelers. The press is full of stories and there have been a number of funny videos on the subject. Here's one...

ECB’s Gonzalez-Paramo: Ours are little

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ECB bond buys are small volume compared to other countries Spain needs to improve communications on the reforms it plans Excess liquidity in money markets reduced by 90% since summer That last bit has been a boost to the euro as money market rates have "normalized" in recent months.

Next Wk/US: FOMC Mins/Forecasts, Existing Hms,U/Mich,Durables

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By Theresa Sheehan PRINCETON (SMRA) - All the economic data of significance is clustered in the Tuesday-Wednesday period in the short week ahead with a few reports moved due to the holiday schedule. The week ahead is, of course, effectively a ...

Fed continues to defend QE

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The Fed has undertaken somewhat of a PR offensive to try and rehabilitate the Fed's reputation which has been savaged in the last two-odd years. They've begun to defend QE quite aggressively, from the Chairman on down. This afternoon, an executive VP at the NY Fed, Terence Checki told the Economic Club ...

Analysis: Bernanke: It’s Not Only China,It’s the Int’l System

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By Denny Gulino WASHINGTON (MNI) - The surprising speech by Federal Reserve Chairman Ben Bernanke Friday acted as a sharp edged prism, diffracting his critics into categories that fall into less familiar combinations. Suddenly those on Capitol Hill who want to ...

USD/JPY taking lower yields in stride today

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USD/JPY trades with a firm tone, supported by buying from US real money accounts today, traders report. The buck is paying less attention than normal to US yields today despite them drifting modestly lower on the session. 10-year notes are down about 3 bp in yield to 2.87% today. Resistance from ...

Asset markets mixed in early afternoon

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Not much to report from the trenches this afternoon with markets fairly quiet. Traders seen suitably confused after the EUR/USD's decent rally overnight, only to watch it give up all its gains. Few are looking to take fresh risk on ahead of the weekend, this much we know. Bottom line: The market ...

Budget Recap:Clashing Pleas For Costly Tax Cuts,Budge Balance

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--As Lame-Duck Session Opens, Lawmakers Jostle Over Bush Tax Cuts --Senate Majority Leader Pledges Votes On Different Tax Extension Plans --Republican Leaders Push For $4 Trillion Tax Cut Extension Plan --Meanwhile, Deficit Reduction Panels Work To Overhaul Federal Budget By John Shaw WASHINGTON (MNI) - On this week, more than ...

1.3650 acts as resistance, first time up

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The bounce from 1.3630 New York lows stalled at the 1.3650 level, an area where EUR/USD found support for most of the morning. If we hold below 1.3650, look for 1.3610/1.3650 range-trade over the balance of the afternoon. If we break back above it, 1.3685 should be resistance in the ...

EUR/USD slips as EUR/CHF rally stalls

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EUR/USD has pulled back to the 1.3640 level as EUR/CHF quickly sheds the gains that accompanied the 16:00 GMT fixing. From highs of 1.3675 we've pumped down to 1.3615. Next support for EUR/USD are Asian lows of 1.3608/10.

EUR/USD continues to find buyers in 1.3650 area

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Try as we might this morning, 1.3650 continues to attract buyers. We've bounced back toward the 1.3675 level and it looks as though the reports of EUR/CHF buying are at least partially true... That cross is at session highs of 1.3670 with 10-minutes to go before the fixing. Risk-aversion is lessening as ...

Update-2:ECB’s Trichet:EMU Inflation Expectations Well Anchored

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--Adds Comment On Respect For Public Authorities In Final Paragraph FRANKFURT (MNI) - Inflation expectations in the Eurozone are anchored in line with the European Central Bank's intentions, and the ECB will continue to ensure price stability in the future, the bank's president Jean-Claude Trichet said ...

Allied Irish bleeding deposits

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One of the bigger Irish banks, Allied Irish, issued an update to shareholders today and it is not pretty reading. Deposits are tumbling and it will need to raise even more capital than it earlier planned...

Update:ECB’s Trichet:EMU Inflation Expectations Well Anchored

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--Adds Comments On European Systemic Risk Board FRANKFURT (MNI) - Inflation expectations in the Eurozone are anchored in line with the European Central Bank's intentions, and the ECB will continue to ensure price stability in the future, the bank's president Jean-Claude Trichet said Friday. ...

US API Text: Oct Oil Demand Data Indicates Cont’d Slow Recov

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WASHINGTON (MNI) - The following is the text of the summary of the American Petroleum Institute's monthly report on domestic petroleum deliveries, gasoline deliveries and crude oil production for October released Friday: In October, with ongoing signs that the U.S. ...

US DATA: API says Oct US petroleum demand +1.3% yoy,.

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US DATA: API says Oct US petroleum demand +1.3% yoy, ests US Oct crude production 5.5m bpd, +0.1% yoy. More on MNI Main wire.

BOE Tucker: Wants Extreme Vigilance On Inflation Expectations

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--Most Likely Inflation Will Fall Back To Target ...

ECB’s Trichet: Eurozone Inflation Expectations Well Anchored

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FRANKFURT (MNI) - Inflation expectations in the Eurozone are anchored in line with the European Central Bank's intentions, and the ECB will continue to ensure price stability in the future, the bank's president Jean-Claude Trichet said Friday. Giving the keynote ...
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