Dec 23, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Cable slips to day’s lows on EUR/GBP buying

Posted:

GBP/USD falls to 1.5664 as EUR/GBP pops up to 0.8345 Support for Cable’s down at 1.5645/50 and the cross is running into offers starting from 0.8345 up to 0.8355 Not hearing who’s behind the move i’m afraid, but it won’t take much to move these markets as dealers start to head home for the long [...]

ITALY DATA: Dec seasonally-adjusted consumer fell to.

Posted:

ITALY DATA: Dec seasonally-adjusted consumer confidence fell to 91.6 from 96.1 in November, posting the lowest level since the January 1995 series start on worsening sentiment across all components, with a marked deterioration in confidence in the general economic climate. Consumers’ sentiment on the economic climate fell to 77.2 from 83.1; confidence in the future [...]

Italian Dec sa Consumer Confidence falls to 91.6 from 96.1 in Nov

Posted:

lowest since series began in 1995, following the latest austerity budget Consumer sentiment  fell to 77.2 from 83.1, future confidence fell to 82.9 from 88.9, personal climate fell to 97.3 from 101.6 According to stats from ISTAT EUR/USD unmoved around 1.3068

ECB Stark: Concerned About Eurogroup’s Resort To IMF Backstop

Posted:

FRANKFURT (MNI) – The Eurogroup’s attempt to boost the firepower of the International Monetary Fund as an additional backstop against contagion from the sovereign debt crisis is intended in practice to circumvent the ban on central bank financing of governments, and it will increase dependence on the Fund, ECB Executive Board member Juergen Stark charged [...]

UK BBA: Mortgage Approvals, Loans Fall In November

Posted:

LONDON (MNI) – Mortgage approvals and values fell in November on a seasonally adjusted basis, with housing market activity fading at the end of the year. Data from the British Bankers Association showed the seasonally adjusted number of mortgage approvals fell to 34,738 in November from 35,196 in October, a 1.3% fall. The value of [...]

UK Data: Oct Services Fall Sharply on Month Hit By Banking

Posted:

LONDON (MNI) – UK service sector output fell sharply on the month in October, hit by the weakness of the banking, telecommunications and computer services sectors The first official services output data for the fourth quarter showed the sector struggling. Services output fell 0.7% on the month, and was up just 0.2% on a three [...]

UK Nov Net Mortgage Lending at a record low of +0.317bln vs +0.825 bln in Oct

Posted:

Nov Mortgage approvals for home purchase  34,738 vs oct 35,196. +16% y/y Oct Service sector output -0.7% m/m unchanged from Sep, largest m/m drop for 8 months Q3 labour productivity +0.2% q/q on output per hour, +1.3% y/y Cable slips down 15/20 points  to on the weaker  service output data to session lows of 1.5673

Italy Wage inflation index unchanged m/m in November

Posted:

+1.5% y/y from +1.7% in October. Lowest rate since Oct 2010

SNB: Will enforce Franc ceiling at 1.20 vs euro

Posted:

Ready to take further measures at any time if the economic outlook and risk of deflation requires it No risk of inflation in the forseeable future Aims for a 3 month Libor close to zero Comments from the quarterly bulletin EUR/CHF is sitting around 1.2215

Few levels, orders etc..

Posted:

EUR/GBP- Barrier at 0.8300 . Offers 0.8345/55, bids ahead of the barrier with tech support below at 0.8285 (Jan 10 low) AUD/USD- Tech resistance 1.0205 (100 day MA) and Dec 20 highs of 1.0220.  Support 1.0125/30 and 1.0060 GBP/USD- Offers 1.5730, tech res 1.5745/50 and 1.5775/80.  Tech support 1.5645/50 USD/JPY- Offers  78.20/30 , buy stops up [...]

FRANCE DATA: Nov PPI +0.4% m/m, +5.6% y/y; Oct: m/m,.

Posted:

FRANCE DATA: Nov PPI +0.4% m/m, +5.6% y/y; Oct: +0.5% m/m, +5.8% y/y –Nov manufacturing PPI +0.4% m/m, +5.3% y/y –Nov oil product prices +3.4% m/m, +27.1% y/y –Nov food and tobacco prices +0.1% m/m, +5.4% y/y –Nov industry import prices +0.5% m/m, +7.9% y/y See Mainwire for more details

French Nov producer prices +0.4%m/m, from +0.5% m/m in Oct

Posted:

Hummm.. that ‘ll get the market moving!

Christmas travel…

Posted:

I would like to share an experience with you; about drinking and driving. As you know, some of us have been known to have brushes with the authorities on our way home from the odd social session over the years. A couple of nights ago, I was out for a few drinks with come and [...]

Firm open in Europe for EUR/USD

Posted:

We’re  a bit lower than the recent 1.3096 high, but  the market’s steady  and getting very thin ahead of the holidays. London’s likely to shut up shop today around 1230GMT and most of the data this morning is likely to be ignored unless extremely out of line EUR/USD has offers 1.3095/00 with offers above from 1.3130  [...]

What’s up today……?

Posted:

morning all, not a great deal to be honest… 0745 GMT France Nov PPI 0830 GMT the SNB releases its Q4 bulletin 0900 GMT Italy’s ISTAT consumer survey 0930 GMT UK Nov BBA  data, Mortgage approvals PM: 1330 GMT US  Nov durable goods, personal Income, Core PCE index 1500 US Nov new Home sales Have a [...]

FRANCE DATA: Final 3Q GDP growth revised up/down to..

Posted:

FRANCE DATA: Final 3Q GDP growth revised up/down to +0.3% q/q (+0.4%) – 3Q Capital investment revised to +0.2% q/q (+0.4%) – 3Q Foreign trade impact revised to neutral (+0.1 pt) – 3Q Stock changes boost revised to +0.1 pt (neutral) – See MNI MainWire for details

ForexLive Asia-Pac wrap: Earthquake in New Zealand

Posted:

Magnitude 5.8 earthquake hits Christchurch, no major damage reported US politicians agree to extend payroll tax for two months Fed’s Plosser hints at changes to Fed’s communication strategy France is gloomiest country on economy in 33 years MNI China business sentiment survey declines Slovenia downgraded to A1 from AA3 EUR/AUD hits a fresh record low [...]

Watch this wedge in USD/CAD

Posted:

I talked about the wedge forming in copper yesterday and it’s interesting to note that the exact same pattern is unfolding in USD/CAD. Look for these two to breakout together, and in a big way in early-to-mid January. I’m bearish but I’m not at the point where I’m ready to make a definitive call. The [...]

France is the glommiest country on economy

Posted:

France is the world’s most pessimistic country, in terms of the economy, and it had the worst score in more than 30 years of polling. What ever happened to “C’est la vie”? You’ll never guess the most optimistic countries.

AUD tops the leaderboard

Posted:

The Aussie dollar is tops so far in Asia with AUD/USD up 46 pips already. The euro is the second best performer. The yen is the laggard. The nice, slow plod higher in risk trades leads me to believe that it will continue at least until Europe comes online in about 4 hours.
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