Jan 5, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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CIPS: UK Construction Contracts In Dec After 9 Months Growth

Posted:

--Dec CIPS Construction Index 49.1 Vs 51.8 In Nov - Markit --Many Contractors Say Poor Weather Hit Output ...

UK DATA: UK Dec CIPS construction sector PMI 49.1 vs.

Posted:

UK DATA: UK Dec CIPS construction sector PMI 49.1 vs Nov 51.8

UK December construction PMI 49.1

Posted:

Weaker than median forecast of 50.9. November unrevised at 51.8. Cable lower, presently at 1.5562. UPDATE:  Someone just said it could have something to do with the crap weather.  By jove, I think he's got a point ;)

Some Portuguese auction details

Posted:

Auction 6-month t-bills maturing June 22 2011.  Indicative size 500 mln (I read 600 mln earlier) First 6-month sale since September 2010, when 500 mln sold.  Average yield then 2.045%, cover 2.4 times. Results due 10:45 GMT. UPDATE:  Just to clarify, indicative size is 500 mln.

Euro zone December services PMI 54.2

Posted:

Down from 55.4 in November, but better than flash estimate of 53.7. Composite PMI 55.5, unchanged from November, but revised up slightly from flash 55.0. And EUR/USD sits at 1.3265, exactly where it was 4 hours ago.

German December services PMI 59.2

Posted:

Unchanged from the 39-month high registered in November, but better than the flash estimate of 58.3.  Composite PMI 60.3, up from 59.0 in November and better than flash estimate of 59.7.   Highest read since June 2006. EUR/USD extends recovery to 1.3255. Euro zone core doing OK,  periphery struggling.

French December services PMI 54.9

Posted:

Down fractionally from 55.0 in November, but slightly better than flash estimate of 54.1. Better news.   EUR/USD up at 1.3245 from session low 1.3237.

Italy December services PMI falls to 50.2

Posted:

From 54.4 in November, much weaker than median forecast of 53.0. Lowest read since July. EUR/USD trading at session low 1.3238.  We've had a succession of poor euro zone data releases which have cranked up the pressure on the euro.  On the flip side, sporadic Asian sovereign buying has helped slow the decline in EUR/USD. European ...

Spain December services PMI falls to 46.2.

Posted:

From 48.3 in November. Lowest in a year. Services PMI new business index drops to 44.8 from 47.2 in November. Meanwhile EUR/USD has rallied slightly from session low 1.3250, presently back up at 1.3265.  Korea notable buyer in recent trade.

Cable rallies back over 1.56, notable buyer seen

Posted:

Cable back over 1.56, presently at 1.5610.  Sources report US investment bank (you know, the not so popular one)  has been notable buyer in recent trade.

China buys EUR/USD

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Down around 1.3260. We're back up at 1.3280. Talk of Swiss private bank out of Zurich also being notable buyer.

Update: UK Retail Data: Next Sales Flat, HMV Sales Fall Y/Y

Posted:

--Adds Detail To Version Transmitted At 0729 GMT --Next Says May Have To Hike Prices By Around 8% LONDON (MNI) - The first large UK clothing retail company to publish its new year trading statement has said that its sales were "significantly affected" by extreme weather, ...

HSBC sees China and America leading global mega-boom

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Latest from AEP at The Telegraph.   Must be New Year's resolution.  I will write upbeat articles....I will write upbeat articles....... Well it's mostly upbeat.

UK Retail Data: Next Sales Flat, HMV Sales Fall Y/Y

Posted:

LONDON (MNI) - The first large UK clothing retail company to publish its new year trading statement has said that its sales were "significantly affected" by extreme weather, with instore sales falling 6.1% in the last five months of the year on a year ago. ...

Irish December services PMI falls to 47.4

Posted:

From 50.8 in November.  Poor old Ireland,  just can't catch a break. New exports sub-index 49.7 vs 54.4 in November, lowest since July 2009. EUR/USD has slipped back to 1.3270.

ACB buys EUR/USD

Posted:

In recent trade.  We're marginally firmer at 1.3283, nuffink major. It's hardly a huge surprise.

Right, that’s one mystery solved…..

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Portuguese auction result expected around 10:45 GMT apparently.

For Spain, real-estate outlook appears bleak

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WSJ article.

Swiss central bank refuses to touch Irish state bonds

Posted:

Government debt and bank bonds here are excluded from a list of assets viewed as eligible for 'repo' deals. Irish Independent report. Thanks to Chris for the heads up.

EUR/USD slips a little in subdued Asian trade

Posted:

EUR/USD down a little in subdued Asian trade, presently at 1.3275 from a North American close Tuesday up around 1.3305. It's a funny old World. When I left yesterday EUR/USD looked bid to old boots. Oh well, ho hum.  Euro zone data due today 08:45 GMT: Italian services PMI for December expected 53.5 ...
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