May 30, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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JAPAN DATA: Sentiment among small businesses in……

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JAPAN DATA: Sentiment among small businesses improved slightly in May, after showing the largest month-on-month drop in April, monthly data released by Shoko Chukin Bank showed. The business sentiment index for small firms stood at 37.8 in May, up 1.7 points from April. Automakers and shipping lines contributed to the improvement in May. In April, [...]

Japan Q1 Output Gap Flat Q/Q; Quake Hits Both GDP, Potential

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TOKYO (MNI) – Japan’s negative output gap — excess capacity vs. slack demand — stood at -3.9%, or around Y20 trillion, in the January-March quarter, unchanged from the previous three months, the Cabinet Office said on Monday. The negative output gap widens when gross domestic product growth falls below the economy’s potential growth rate. But [...]

EUR sliding slowly lower

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EUR/USD and the EUR crosses continue to slide slowly lower as early European traders enter the fray and read the bearish EUR headlines from the weekend. We may see an early flurry from Swiss and German players but its unlikely that we’ll see any big moves, with the UK and the US on a long [...]

UK DATA: This week is a working day shorter due to…

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UK DATA: This week is a working day shorter due to Monday’s June Bank Holiday. Markit/CIPS PMI for Manufacturing will be released on Wednesday, Construction on Thursday and Services on Friday. The May numbers will of course be mined for any sign that activity is rebounding in Q2. The BOE MPC will need to see [...]

US DATA: (4 of 4) The S&P/Case-Shiller Home Price on.

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US DATA: (4 of 4) The S&P/Case-Shiller Home Price Index for March on Tuesday will offer further evidence of softness in home values due to the unfavorable conditions in the housing market in spite of low mortgage rates. The presence of a large inventory of distressed properties has kept valuation of homes from rising. Data [...]

US DATA: (3 of 4) Other indicators for manufacturing.

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US DATA: (3 of 4) Other indicators for manufacturing and services scheduled for release during the week are the Chicago Purchasing Managers Business Barometer and the Dallas Fed’s Texas Manufacturing Outlook, both on Tuesday. Coming off the holiday weekend, and with more closely-watched indicators in the days ahead, these two reports will likely get little [...]

ForexLive Asian market wrap: NZD reaches record high after strong trade data

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NZ April trade balance NZ$ +1.113 billion, twice as much as expected NZD/USD marginally reaches new record high at .8216 USD/CNY fixed at new record low of 6.4856 EUR has weakened slightly on more speculation regarding the Greek situation Bini-Smaghi: Soft Greek restructure could be disastrous EU could intervene in Greek economy: FT Dutch FinMin: [...]

US DATA: (2 of 4) Also on Wednesday, the Challenger..

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US DATA: (2 of 4) Also on Wednesday, the Challenger report on layoff intentions in May should offer some evidence about the health of the labor market. Layoff activity has been quite low in recent months, and should remain so for now. While job growth remains sluggish, job losses have plateaued. Initial jobless claims on [...]

US DATA: (1 of 4) Monday is a holiday in the US but..

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US DATA: (1 of 4) Monday is a holiday in the US but the remaining four days are packed with economic data. There won’t be much to distract from the upcoming May data on employment and payrolls, but the numbers will round out what is known about conditions in the second quarter to-date. The median [...]

Highlights for early part of the week

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Today is the obvious lowlight but there are some early-week events which may encourage volatility pre-US jobs data on Friday. Canadian GDP and jobs data, US consumer confidence, and EU CPI and unemployment should all catch the markets attention before the Australian GDP data on Wednesday morning Sydney time. On-going M&A flows are expected to [...]

NZD/USD backs off record highs

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The strong trade data wasn’t enough to push the NZD/USD convincingly through the previous multi-decade high at .8213. That level was only breached by 3 pips and the Kiwi has now joined the rest of the FX world in the doldrums. As mentioned earlier, holidays today in London and NY so it’s likely to stay [...]

What would a Greek haircut mean for Germany

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Der Spiegel analyses it so.

PBOC set USD/CNY at new record low

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Today’s fix is at 6.4856. The stronger fix for the Yuan might weigh on sentiment for USD/Asian pairs, especially USD/SGD, and this in turn might create more bearish USD sentiment against the majors. A lot of ‘mights’ in there but I’m clutching at straws, hoping for some activity.

Staying quiet in Asia

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Usually when I write that something happens, so here’s hoping. EUR/USD has been chopping around in a 20 pip range since it broke back below 1.4300 and as long as prices stay below 1.4340, bears will consider themselves a chance of seeing another sell-off. The situation in Greece remains in the headlines and as long [...]

ECB Bini Smaghi: ‘Soft’ Greek Restructuring Would Be Disaster

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SINGAPORE (MNI) – Talk of restructuring Greek debt is damaging the European economy and any action, even a so-called “soft” restructuring, would be disastrous, European Central Bank executive board member Lorenzo Bini Smaghi said in an interview with the Financial Times. According to the transcript of the interview, Bini Smaghi said restructuring would be unfair [...]

Around the markets

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The Nikkei is -0.35% in early trade and the Kospi is +0.7%. Oil is steady at $100.70/bbl as are both Gold and Silver at $1537/oz and $38.20/oz respectively.

JAPAN DATA: Japan’s trade balance for the first 10…

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JAPAN DATA: Japan’s trade balance for the first 10 days of May showed a deficit worth Y646.4 billion, compared with a deficit of Y219.4 billion a year earlier, as exports fell 13.6% y/y while imports rose 23.6%, data from the Ministry of Finance show. It is not unusual for Japan to post a deficit in [...]

USD/JPY: Very solid bids reported

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Solid bids reported in NY on Friday at 80.70 lows Further solid bids seen between 80.30/50 Some chat in market that China has been one of the bigger buyers over the last few trading sessions.

Europe/Greece Deal Would See EU Intervene in Economy: Press

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SINGAPORE (MNI) – Negotiations are continuing on a deal that would see new loans for Greece and European intervention in tax collection and sales of state assets, the Financial Times reported, citing people involved in the talks. The paper said the deal would also include more austerity measures and incentives designed to have private holders [...]

NZD/USD touchs .8216, new post-float record high

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AUD/NZD is sharply lower this morning, currently trading at 1.3020 down from opening levels above 1.3100
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