Dec 1, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Markit/CIPS: UK Nov Manuf PMI At Highest Level Since Sept 1994

Posted:

--Employment Growth At Highest Level Since Survey Start In 1992 --CIPS Warns On Emerging Bottlenecks As Recovery Gets Going ...

For all you cable bulls………….

Posted:

And I know there are  a few of you out there;  I've just been told a "smart seller" has been seen selling in recent trade.  We're at 1.5630 from session high 1.5635.  I haven't the foggiest who the smart seller is, but they're obviously fairly respected. I'll be intrigued now to ...

UK November manufacturing PMI much stronger than expected

Posted:

Cable spikes higher, presently at 1.5620. Came in at 58.0, up sharply from revised 55.4 in October, much stronger than median forecast of 54.6 and highest read since September 1994!!!

EUR/USD slips back; French bank, hedge funds notable sellers

Posted:

We're back at 1.3067 having posted session high 1.3091, the aforementioned sell orders at 1.3090/00 having proven durable for now. Sources report hedge fund selling into the rally and also say a major French bank was a notable seller. Talk is the bank offloaded in the region of half a yard (half ...

USD/JPY edges higher

Posted:

Presently up at 83.77 from around 83.42 when I started.  Better risk appetite and higher US treasury yields are lending support. 10 year yield up at 2.8480 from around 2.7986 when I got in. Macro hedge fund buying has been noted.  Stops said to lie through 84.00.

Interesting seller turns up in cable…..

Posted:

Getting reports the Singapore branch of a large US bank has turned up as a seller of cable in recent trade.  Having been as high as 1.5607 we're back down at 1.5585. Last couple of times I've heard this name mentioned they've been on the right side of the ball.  At ...

ACB interest seen on topside

Posted:

Talk is there is Asian central bank interest mixed in among the aforementioned 1.3090/00 sell orders. I know it's going to be a tough day when I start getting reports of ACB interest on both sides of the ball.

EUR/USD trips stops, rally accelerates

Posted:

Euro bulls finally found aforementioned stops above 1.3050 and we've moved quickly to 1.3082 session high.  Asian central bank and corporate buying has been noted. Next cluster of sell orders at 1.3090/00, more stops above. UPDATE:  A UK clearer also being mentioned as major buyer in this latest rally.

Just reading some comments…..

Posted:

Made by Citigroup. They feel euro's performance during remainder of year depends on real money (pension funds, insurance companies) Citigroup say "If they let the market breathe then we may see a two or three big figure rebound. If not, then we are 1.2500 offered by the time the eggnog is served ...

EUR/CHF rallies in early European trade; SNB around?

Posted:

EUR/CHF up at 1.3085 from around 1.3025 when I arrived. Mutterings that the Swiss National Bank may have been in buying. I have no confirmation of such whatsoever.  And I'd have thought if they'd turned up we'd be appreciably higher than we are at present. Much more likely someone taking a lump ...

Chinese ForMin: Pressing task in Korea dispute is to prevent escalation

Posted:

Will handle Korea dispute as a "responsible great power", will not show favouritism Will not "pour petrol on flames" in Korea dispute

Nationwide: UK Nov House Prices -0.3% m/m; +0.4% y/y

Posted:

LONDON (MNI) - UK house prices fell 0.3% on the month in November, and in the three months through November they fell 0.7%, according to the latest Nationwide survey. The latest Nationwide data add to the evidence that UK house ...

UK Nationwide November house prices -0.3% m/m, +0.4% y/y

Posted:

Little weaker than median forecasts of -0.2%, +0.5% respectively Not looking good for UK housing market. EUR/GBP has edged up in early trade, presently at .8370 from around .8355 when I arrived.

Correct: Germany Retail Sales Hit 3-Month High in October

Posted:

--Correcting "Revised From" Figures For September In Table Above Text Seasonally adjusted real sales: October: +2.3% m/m, -0.7% y/y MNI survey median: +1.3% m/m, +1.5% y/y MNI survey range: +0.5% to +2.2% m/m September: -1.8% m/m, ...

German October retail sales +2.3% m/m, -0.7% y/y

Posted:

Compared to median forecasts of +1.3%, +1.6%  respectively. EUR/USD a touch firmer in sluggish early European trade, presently at 1.3035.  Talk of sell orders clustered 1.3040/50, stops above there. Sounds like inclement weather is causing some travel disruption for those trying to get into work in the City of London.

Analysis: Germany Retail Sales Hit 3-Month High in October

Posted:

Seasonally adjusted real sales: October: +2.3% m/m, -0.7% y/y MNI survey median: +1.3% m/m, +1.5% y/y MNI survey range: +0.5% to +2.2% m/m September: -1.8% m/m, +0.9% y/y (revised from -2.3%/+0.4%) -- ...

GERMANY DATA: Retail sales in Germany rose by an…..

Posted:

GERMANY DATA: Retail sales in Germany rose by an unexpectedly-strong 2.3% on the month to October, the Federal Statistical Office reported on Wednesday. However, base effects left turnover down 0.7% on an annual basis. -- Germany October m/m retail sales above all fcsts (MNI median +1.3%) -- Germany September m/m retail ...

UK DATA: Nationwide House Prices; -0.3% m/m, +0.4%…

Posted:

UK DATA: Nationwide House Prices; -0.3% m/m, +0.4% y/y. Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said: "The recent trend of modestly falling house prices continued during November, with the price of a typical UK property declining by 0.3% on a seasonally adjusted basis between October and November. ...

Japan Average Regular Gasoline Price Posts 1st Rise In 5 Wks

Posted:

TOKYO (MNI) - The average price of regular gasoline in Japan this week rose to Y132.5 ($1.59) per liter, or $6.0 per gallon, from Y132.3 last week, posting the first rise in five weeks after being unchanged for four weeks in a row, according to ...

Japan Nov New Vehicle Sales -30.7% Y/Y, 3rd Straight Drop

Posted:

TOKYO (MNI) - New vehicle sales in Japan fell 30.7% from a year earlier to ...

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