Apr 30, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ForexLive US wrap-up: Dollar weak but lag commodities rally

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Gold soars to fresh record at $1569.25 US personal income rises 0.5% in March, spending up 0.6% Core PCE rises 0.9% year-over year US employment cost index rises 0.6% in Q1 Chicago PMI dips to 67.6 from 70.6 University of Michigan consumer sentiment 69.8 final in April from 69.6 preliminary EU: European banking sector needs substantial ...

US DATA: Apr farm prices +1.2%…………………..

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US DATA: Apr farm prices +1.2%.

US DATA: In Trepp’s preliminary Q1 estimates, the….

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US DATA: In Trepp's preliminary Q1 estimates, the delinquency rate for single family first-lien mortgages at U.S banks decreased a tenth from 12.8% to 12.7%, while nonaccrual or seriously delinquent loan rates remained flat at 4.8%. See MNI Main wire.

Trepp: US Bank Loan Delinquency Improvement Stalled In Q1′11

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By Ian McKendry WASHINGTON (MNI) - The decline in U.S bank loan delinquencies slowed in the first quarter, according to estimations by Trepp, a data analytics firm, in a recent report. Using earnings and call report filings, Trepp estimated that delinquencies ...

Do I hear $1570?

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Gold traded as high as $1569.25 on its latest rampage. Oil popped briefly above $114.00 and now trades at $113.80. AUD is at 1.0975, chipping away at offers protecting 1.10 barriers. USD/CAD is at levels not seen since late 2007, now at 0.9455.

Crisis? What crisis?

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The Journal had a high profile story this morning on the lack of US concern over the weaker dollar. There is basically one reason for that: It comes at little cost. Look at the US bond market. US 10 year notes are at their lowest yields in over  month, now at 3.29% It ...

US Data Preview: ISM Mfg Projected To Fall Off Six-year Highs

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By Chris Cermak WASHINGTON (MNI) The Institute for Supply Management's survey of manufacturing activity is expected to fall slightly off its highest levels in six years when the latest figures are released Monday, but economists expect the manufacturing sector to continue its brisk expansion over ...

Ireland cuts 2011 GDP forecast

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The government now sees 0.8% growth in 2011, down from 1.7%. Next year, they expect 2.5%, down from 3.2%. The 2011 deficit will reach 10% of GDP this year, up from a 9.4% forecast. 2012 is seen at 8.6% from an earlier 7.3% forecast. The debt to GDP ratio will reach 111 ...

Forex dodges a Dodd-Frank bullet

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Forex swaps and forward will be exempt from Dodd-Frank riles that would have required that they be t settled via clearing houses. Existing practices already limit risk, the Treasury says. Forex swaps are so important that any disruptions could have had a negative economic impact, the Treasury said. How does this impact ...

I guess they didn’t see the Wizard of Oz…

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Global warming caused the tornadoes in the US south earlier this week...

What if gold jumped $12 in an hour and no one cared?

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We just found out. From the "old" highs around 1548, we rocketed to nearly $1560 but none of the other markets seemed to give a hoot. Let the weekend begin...

Obama orders sanctions on Syrians, but not on Assad

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After days of brutal crackdown in Syria, the US has placed sanctions on Syria's intelligence agency and two relatives of the Syrian president, but not on President Assad himself. Wouldn't want to do anything rash, now would we? The Syrian situation is seen as a supportive factor for the CHF, along with ...

Gold surpasses $1550

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Another updraft for gold. We've surpassed $1550 and we're chugging toward $1555. Looks like some top-pickers are scrambling to cover shorts. Silver trails far behind, trading in the $48.60s after repeated stalling just shy of the $50 level over the last week. EUR/USD is edging higher but a critical report from the ...

Bernanke: Econ Improving But ‘Far From Where We Would Like’

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By Steven K. Beckner WASHINGTON (MNI) - Federal Reserve Chairman Ben Bernanke Friday reemphasized his concern about high unemployment and home foreclosures, while making no mention of inflation, in a speech on "community development." Two days after holding a press conference ...

Q. What are the risks of trading on bank holidays

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A. Andy asks: This coming Monday, May 02, the banks of Switzerland, France, Italy, and England will be closed in observance of Labor Day, and the banks of Japan will be closed in observance of Constitution Day. What is your forecast of Forex market activity on Monday, and what are the risks of trading ...

Q. What are the pros and cons of trading for yourself versus trading for an insitution?

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A. If you are a successful trader and have sufficient capital, there is no reason in the world to join a firm (barring an invite to join a top hedge fund). Keeping every dime you make while controlling all aspects of your trading decisions (or decisions not to trade). There are advantages ...

MNI Forecast Competition Sees 60.6 for US Mar Mfg ISM

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NEW YORK (MNI) - Forecasters see a 60.6 headline index number for Monday's manufacturing ISM report in the ongoing three-month MNI Forecast Competition. Forecast contest participants delivered their ISM forecasts by the noon ET deadline. ...

Bernanke repeats themes from Wednesday

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Economy far from where we would like to be Economy is in moderate recovery; recent improvement in labor market High unemployment contributing to problems in housing market Housing market holding economy back

You’ve got questions, we (most of the time) have answers

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Have a general question on how markets work or the intricacies of the interbank market? send it to jamie (at forexlive.com. The best questions will be answer on our pages. Take a look at previously asked questions so we can cover new ground please.

ECB Update: Inflation Puts Pressure On ECB As Outlook Darkens

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FRANKFURT (MNI) - Eurozone inflation rose more than expected in April, raising pressure on the European Central Bank to tighten monetary policy even as economic sentiment weakened notably. Eurozone consumer price inflation exceeded expectations to hit a 30-month high of ...

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