Feb 1, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/GBP hits new session high

Posted:

EUR/GBP hits new session high of .8749 as 10:00 GMT fix comes and goes. Seems a UK clearer has had something of an ongoing buy interest today.

EUR/GBP holding up

Posted:

EUR/GBP sits at .8735, close to session high .8742. Just reading comments from Barclays Capital, who see potential for move up to .8770/8800 area, with any extension to .8850 seen toppy.

UK Jan manufacturing PMI better than expected

Posted:

UK  January manufacturing PMI has come in at 56.7 better than median forecast of 54.0 and highest read since October 1994. Mortgage approvals on the otherhand disappointing, only 59,023 from 60,045 in December and below median forecast of +62k. First fall since November 2008. December mortgage lending +£1.165 bln, below median forecast ...

USD/JPY ticks higher; sell, stop orders noted

Posted:

USD/JPY has ticked very slowly higher this morning, presently at 90.45 from early 90.20. Talk of sell orders 90.50/60 stops just above, which is hardly surprising, and then more sell orders up at 90.80.

BIS interest helped give EUR/USD lift

Posted:

BIS bought around 1.3880/85 helping lift EUR/USD back over 1.3900 temporarily. Talk of sell orders at 1.3910/20.

Eurozone final January manufacturing PMI better than expected

Posted:

Euro zone final January manufacturing PMI has come in at 52.4, revised up from flash 52.0. 2-year high. Better than expected various euro zone PMI data will be underpinning EUR/USD which is presently up at 1.3902. Elsewhere cable buy interest at 1.5900/10 held the line and we're back up at 1.5925. Interesting to see ...

Cable slides

Posted:

Cable down at 1.5910. Had earlier heard talk of buy orders down at 1.5900/10.  We're about to see if they're hefty enough to hold the line. One thing not helping sterling is the recent poll news, which shows Labour making back some ground on the Conservatives, bringing with it the spectre ...

EUR/USD slips back, ACB seen selling.

Posted:

EUR/USD slips back with Asian sovereign seen selling, presently at 1.3880. Given an ACB was also seen buying around the 1.3854 overnight low they seem to have things pretty much sorted between themselves.

EUR/GBP touch firmer early, talk of fix interest

Posted:

EUR/GBP has tagged on about 10 pips since I got in, presently at .8705. Talk of buy interest lined up for todays fix (which one not specificied) This cross action will be weighing a little on cable which is presently down at 1.5935. EDIT:  It would appear the EUR/GBP buy interest went ...

China CBank advisor Fan: Inflation pressure, asset bubble worrying

Posted:

Excessive liquidity needs to be addressed as a problem Will not be easy for inflation to rise high Market got the signal from China's recent moves Worry for China economy is "asset bubble"

Cable ticks higher

Posted:

Cable has tacked on a quick 25 points, presently at 1.5975. Could be BP in early doing their thing, don't really know. 1.6000 looms large as psychological resistance.  Might be some stops parked just above there, I'd quess. Say around 1.6010.

Should Germany bail out Club Med or leave the euro altogether?

Posted:

Latest from AEP.

House prices set to rise 6% in 2010

Posted:

British house prices are set to rise 6% this year, the Centre for Economics and Business Research has said, revising its forecast of two to four percent growth made only a month ago.

U.S.’s Gregson: U.S. goal is to maintain cooperative, cordial relationship with China

Posted:

BUT U.S. fully intends to meet obligation to ensure Taiwan's self-defence capabilities.

Cable opens touch easier

Posted:

Cable has opened a touch easier, down at 1.5950 from a North American close Friday up around 1.5985. Worth bearing in mind at some juncture today oil company BP is supposed to turn up and buy their last chunk of cable. Data due;  09:30 GMT: UK mortgage approvals for December expected 61.7k from 60.5k 09:30 GMT: ...

EUR/USD sees quiet trade in Asia

Posted:

EUR/USD sits at 1.3880 after a quiet trade in Asia, which saw price action confined to a narrow 1.3854-1.387 range. Sell-off bottomed out when decent buy interest emerged just ahead of touted 1.3850 option interest. Talk of stops through 1.3845. Euro zone data due today; 07:45 GMT: French producer prices for December expected ...

Asian FX market wrap: quiet session consolidating Friday’s falls

Posted:

Australian TD-MI measure of Australian inflation +2.6% YoY Noted RBA watcher thinks rate hike not a certainty Australian job ads -8% MoM, house price index +13.6% YoY Hometrack survey of UK house prices -0.8% YoY China manufacturing PMI in January down 0.8 to 55.6 Latest market positioning research suggests that EUR shorts at 16 month ...

South Korean CPI +3.1% YoY

Posted:

The figure is slightly lower than forecast but still the highest monthly increase in 9 months.

Around the markets: Equities -1%, Gold and Oil -0.5%

Posted:

The Nikkei and Kospi are 0.4% lower, the Australian All Ords is -0.8%, HK is -1.25% and Shanghai is -1.9%. Gold and oil are 0.5% lower on the session at $1078/oz and 72.50/bbl respectively.

AUD: maybe a rate hike is not a foregone conclusion

Posted:

After the economic data last week and the TD-MI inflation gauge this morning, I had moved into the 'definite 25 bps rate rise' camp and latest market reports suggest nearly 70% certainty that this will in fact occur. The latest Terry McCrann article suggests that such a rise is in ...
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