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- Cable extends sell-off; ACB interest being seen
- Japan MOF’s Noda: Will stick to fiscal discipline with sense of crisis
- UK Q4 GDP much weaker than expected
- USD/IDR at the Edge
- German Ifo January business climate index better than expected
- Cable holding up amid talk of 11:00 GMT fix demand
- Italy January consumer confidence falls to 111.7
- ECB’s Stark: We see encouraging signs from economy, but uncertainty high
- Japan FinMin Kan: Feels BOJ could do more to fight deflation
- EUR/GBP still heavy amid talk of fund selling
- BOJ’s Shirakawa; No change in easy policy stance
- EUR/USD languishes around lows
- S&P: Outlook on Japan to negative from stable; ratings affirmed
- ECB’s Nowotny: ECB could raise rates earlier than Fed
- Cable touch easier; event risk looms
- EUR/USD sees sharp sell off in Asia; risk off
- EUR/USD follows as stops go off
- Stops getting hammered in USD/JPY
- Asian FX market wrap: risk on then risk off as EUR/JPY leads the way
- EUR/USD: next support 1.4085
| Cable extends sell-off; ACB interest being seen Posted: Cable has been down to 1.6122, presently at 1.6130. Limited Asian sovereign buy interest being noted around current levels.    |
| Japan MOF’s Noda: Will stick to fiscal discipline with sense of crisis Posted: Will communicate with market to avoid Japan debt rating downgrade Comments have helped lift yen across the board, USD/JPY presently down at 89.40.  |
| UK Q4 GDP much weaker than expected Posted: UK Q4 GDP has come in at +0.1% q/q, much weaker than the expected +0.4%. Y/Y -3.2% compared to median forecast -3.0. Cable lower at 1.6170 presently.  |
| Posted: USD/IDR today quite scary and gave a market player to guessing wether Indonesia Central Bank will aggressively fought in 9420 or leave IDR to bounce to 9500. China's decision to tightening their reserves quite surely make a lot of risky asset to fly down to below, especially after Presiden Obama ...  |
| German Ifo January business climate index better than expected Posted: German Ifo January business climate index has come in at 95.8, better than median forecast of 95.1. Expectations index 100.6, better than median forecast 99.2. Current conditions 91.2, as expected. EUR/USD steady around 1.4100.  |
| Cable holding up amid talk of 11:00 GMT fix demand Posted: Cable is holding up well this morning, presently at 1.6245. The pairing is being helped by talk of demand lined up for the 11:00 GMT fix, which apparently comes from a UK oil company. Between then and now ofcourse we have the Q4 GDP data scheduled for release at 09:30 GMT, expected +0.4% ...  |
| Italy January consumer confidence falls to 111.7 Posted: Italy January consumer confidence has fallen to 111.7 from 113.7 in December, worse than median forecast of 113.5 and ending 3-month run of gains. EUR/USD sits at 1.4085 having run into model fund selling up around 1.4100. German Ifo data now awaited at 09:00 GMT; business climate expected 95.1 from 94.7.  |
| ECB’s Stark: We see encouraging signs from economy, but uncertainty high Posted: Euro zone recovery in 2010 to be moderate, possibly bumpy Moderate inflation seen over monetary policy relevant horizon Do not exclude further rating downgrades of euro zone countries Recovery pace depends on conquering political challenges ECB financial sector support measures not needed to same extent as before Risk that banks become to dependent on ECB ...  |
| Japan FinMin Kan: Feels BOJ could do more to fight deflation Posted: BOJ and government are following same policy direction to overcome deflation.  |
| EUR/GBP still heavy amid talk of fund selling Posted: EUR/GBP sits presently at .8678, down from a North American close Monday up around .8710. There is talk of ongoing selling by various funds. Yesterday, as we reported, a German fund was a notable seller at higher levels. Next support of note .8650. Talk of barrier option interest at said level.  |
| BOJ’s Shirakawa; No change in easy policy stance Posted: Japan economic recovery unlikely to falter Economic risks roughly balanced Will communicate closely with government BOJ board ultimately decides policy Global economic recovery likely to slow, Japan price falls ahead Pace of Japan economic recovery may briefly slow in H1 of 2010/2011 BOJ price forecasts do not reflect possible effect of government policy measures  |
| EUR/USD languishes around lows Posted: EUR/USD presently at 1.4080, languishing near session lows. Talk of stops through 1.4065 and again through 1.4025. Obviously we've talk of lumpy option interest down at the psychological 1.4000 level, with robust protection expected. Asian sovereigns were seen buying at higher levels overnight, so there's no reason to suspect we wont be seeing ...  |
| S&P: Outlook on Japan to negative from stable; ratings affirmed Posted: S&P has adjusted outlook on Japan to negative from stable, whilst affirming AA long-term and A-1+ short term sovereign credit ratings. USD/JPY sees kneejerk rally, presently up at 90.20.  |
| ECB’s Nowotny: ECB could raise rates earlier than Fed Posted: ECB's Nowotny asked in an FT Deutschland interview whether ECB would wait to tighten monetary policy until the US Fed had started raising rates has said, "There is certainly no law that says the ECB won't act before the Fed does." This has resulted in the wire headline "Nowotny says ECB ...  |
| Cable touch easier; event risk looms Posted: Cable is trading a little lower this morning, presently around 1.6205 having closed out Monday in North America around 1.6240. Big day for sterling with Q4 GDP set for release. 09:30 GMT: UK Q4 GDP expected +0.4% q/q, -3.0% y/y 09;30 GMT: UK BBA loans for house purchase for December expected 45,750, up ...  |
| EUR/USD sees sharp sell off in Asia; risk off Posted: Busy session overnight in Asia with EUR/USD demonstrably lower, presently down at 1.4080 from a North American close Monday up around 1.4150. The risk button has been flicked firmly to "off", Asian stocks seeing heavy losses, oil off nearly a buck and gold giving ground. Risk appetite is being dissolved as ...  |
| EUR/USD follows as stops go off Posted: Tight stops below 1.4080 have been done but not too much follow through so far.  |
| Stops getting hammered in USD/JPY Posted: The low so far has been 89.55 as heavy stops below 89.70 were liquidated.  |
| Asian FX market wrap: risk on then risk off as EUR/JPY leads the way Posted: Reports suggest that China has instructed several banks to tighten their reserve ratios and reign in excessive lending Bank of Japan holds policy rate steady at 0.1% but does not upgrade economic assessment President Obama to seek 3-year freeze on domestic spending South Korean GDP grew less than expected in Q4 Apple Inc reports ...  |
| Posted: It has been quite a confusing day for many traders and some long EUR positions seem to be throwing in the towel. The low so far has been 1.4099 and similar to USD/JPY, we can expect to see lots of stops appearing below 1.4085 although the main support point is ...  |
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