Your forexlive.com ENewsletter |  |
- Japan Post Bank urged to diversify holdings
- UK construction PMI index better than expected
- Look at that EUR/JPY bounce!!!!
- AUD/USD recovers back over .8800
- Cable touch easier; data up at 09:30 GMT
- EUR/JPY lower. Some interesting talk floating about
- French official: Exchange rates will be discussed at G7 as part of broader economic talks
- AUD/USD slipping again
- Greek PM: Greece targetted by speculative attack. Greek spreads completely unjustified
- Early EUR/USD rally fizzles out; stops, sell orders noted
- German December prelim retail sales +0.8% m/m, -2.5% y/y
- China says U.S. arms sales severely hurt China’s core interests
- Japan FinMin Kan: Wants BOJ to support economy thru appropriate and flexible policy
- Swiss consumer sentiment better than expected
- Tories should be most afraid of their own fear
- Warning of new housing crash because FSA’s reform plan is too weak
- EUR/USD steady, narrow rangebound in Asia
- The US Unemployment Rate –
- Rumour of SNB buying EUR/CHF
- Asian FX market wrap: RBA leave rates unexpectedly unchanged
| Japan Post Bank urged to diversify holdings Posted: Thats the title of an article in the FT. Shizuka Kamei, Japanese financial services minister, yesterday said that the Japan Post Bank should diversify its investments into US treasuries and corporate bonds in an effort to reduce the risks of over-concentration in JGBs. The official said "Nearly 80% of Japan Post Bank's funds ...    |
| UK construction PMI index better than expected Posted: UK January construction PMI index has come in at 48.6, better than median forecast of 47.0. Cable up at 1.5935.  |
| Look at that EUR/JPY bounce!!!! Posted: 126.00, CHANGE 126.25. I'm too bloody good for this place. (ONLY JOKING!!!!) If you didn't read earlier EUR/JPY commentary you won't have a clue what I'm talking about. USD/JPY sits at 90.60. Talk of buy orders down at 90.40/50.  |
| AUD/USD recovers back over .8800 Posted: AUD/USD back over .8800, presently at .8803 having been down to .8780. Talk decent buying from UK clearer and US investment bank helped lift pairing. Elsewhere, UBS has apparently issued AUD/NOK sell recommendation at 5.22 (how exotic, well almost) Target 5.00, stop loss 5.31. Nice risk reward!!!  |
| Cable touch easier; data up at 09:30 GMT Posted: Cable touch easier on the day, presently at 1.5920 from early 1.5945. Talk of sell orders 1.5975/80 and again at 1.5995/00. Buy orders, said to include sovereign interest, seen down at 1.5850/60. Ongoing talk of 1.5850 barrier option interest. Next up for sterling is 09:30 GMT release of January constuction PMI, expected ...  |
| EUR/JPY lower. Some interesting talk floating about Posted: EUR/JPY is down at 126.00 from an early 126.35. Some interesting talk in market. Apparently a Japanese lifer has a decent interest to buy EUR/JPY over next few days, which is said to relate to asset switching. If we don't see accelerated losses below 126.00 this could be part of the reason. ...  |
| French official: Exchange rates will be discussed at G7 as part of broader economic talks Posted: Can't say I was expecting much, if anything, anyways.  |
| Posted: AUD/USD down at .8785 from around .8815 when I sat down. Talk German bank has put out buy euro/aud recommendation. Details unknown (well at least by this kiddy) There have been earlier reports of Asian sovereign buying beneath .8800. Will be interesting to see whether they turn up again to give support.  |
| Greek PM: Greece targetted by speculative attack. Greek spreads completely unjustified Posted: Oh dear. Probably not the smartest thing the Greek PM could have said. EDIT: And there's more.......Greece cannot be at the mercy of its lenders, must be able to set its own course.  |
| Early EUR/USD rally fizzles out; stops, sell orders noted Posted: EUR/USD having been up to 1.3952 is back at 1.3930 at writing. Maybe we're seeing a slightly delayed reaction to the punchy rhetoric coming out of China. They sure seem miffed by US arm sales to Taiwan. Talk of stops through 1.3955, sell orders up at 1.3990/00.  |
| German December prelim retail sales +0.8% m/m, -2.5% y/y Posted: German retail sales have come in pretty much as expected, +0.8% m/m, -2.5% y/y versus median forecasts of +0.9%, -2.5% respectively. Yawn. EUR/USD off to a very slow start, presently at 1.3930.  |
| China says U.S. arms sales severely hurt China’s core interests Posted: China says will go forward with sanctions on U.S. companies unless they halt sales. Oh dear. It's getting nasty. Not going to help risk appetite any.  |
| Japan FinMin Kan: Wants BOJ to support economy thru appropriate and flexible policy Posted: Won't comment on what specific policies BOJ should take. USD/JPY has slipped a touch in early European trade, presently at 90.65. Yesterday there was talk of Japanese exporter sell orders up around 91.00. Interest looks to still be there given recent price action.  |
| Swiss consumer sentiment better than expected Posted: Swiss consumer sentiment index -7 in Q1, better than median forecast of -10. EUR/CHF has traded a little firmer this morning, presently at 1.4730, amid rumour of SNB intervention. Personally I'd expect the jump in the cross to have been more marked if they were actually in.  |
| Tories should be most afraid of their own fear Posted: David Cameron is at his best when he is at his boldest. But as the election approaches a dangerous timidity is taking over. Don't go dropping that there ball Dave. If you do I'll have to emigrate!!!! Recent polls have shown Labour eating into the Tory lead, increasing spectre of possible hung ...  |
| Warning of new housing crash because FSA’s reform plan is too weak Posted: A second housing crash could occur shortly after the general election because recommendations by the FSA on reforming the UK mortgage market are too timid, a conference on long-term thinking in finance heard today. Interesting. Personally I've a feeling UK house prices may surprise on the downside this year, which seems ...  |
| EUR/USD steady, narrow rangebound in Asia Posted: EUR/USD sits at 1.3925, effectively unchanged from where North America closed out Monday. Market seems to be consolidating recent losses in the pairing, with 1.3850-1.3940 having confined price action of late. Outside that 1.3800-1.4000 loom as interesting support/resistances. I should think there are pretty decent stops parked not far either side ...  |
| Posted: Do you think we can have a separate poll to predict what the US unemployment rate will be this Friday: The WSJ says we need to add 150K jobs just to keep it at 10% - What do you think?  |
| Posted: Have had no confirmation yet but it certainly looks like they may have been up early.  |
| Asian FX market wrap: RBA leave rates unexpectedly unchanged Posted: RBA leaves cash rate at 3.75%, against expectations They give mainly global reasons for not hiking, not local Australian business confidence index falls sharply Equity markets generally higher but with some exceptions Gold slips $3 but stays above $1100 It was an exceptionally quiet morning and early afternoon trading session as traders awaited the RBA ...  |
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