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- UK January PSNB £4.339 bln
- Greek/German 10-year government bond yield spread widens 18 bps on day to around 338 bps, widest in over a week
- Well……
- BOE’s Barker sees hesitant recovery
- I remember back in the day……..
- BOJ’s Shirakawa: Current price framework best for now
- EUR/USD slips lower. Amendment to earlier commentary
- What have I learnt about cable lately?
- USD/JPY slips back
- EUR/USD opens lower still; option interest noted
- Obviously we’re not the only lunatics in the world
- Asian FX market wrap: IMF to sell gold, BoJ stays on hold
- Around the markets
- Economists unhappy with BoE over ‘mixed signals’
- JPY crosses ticking higher after BoJ non-event
- BoJ keeps rates on hold at 0.1%
- BoJ to keep rates unchanged but may resist government pressure
- EUR/JPY continues to fall
- Gold price sliding again
- Not much bounce in major pairings, could be more to come
| Posted: UK January PSNB has come in at £4.339 bln compared to median forecast of- £2.8 bln, the first borrowing for January on record Ughh. PSNCR -£11.770 bln compared to median forecast of -£20.0 bln. Lowest repayment for a January since January 2003. Public finances in the crapper. ONS says the deterioration due to ...    |
| Posted: Greek 5-year cds rate rises to 356.7 bps from 350.8 bps at NYK close Wednesday Don't really get any better, do it. EUR/USD slipping back, presently at 1.3548.  |
| Posted: The buy orders down at 1.3530/50 emerged right on cue, as suspected they would. Been as low as 1.3540, back up now at 1.3565. On the topside sell orders tipped at 1.3600/20. Just wonder how long it will take for the euro bears to get their paws on 1.3500 option structures? If ...  |
| BOE’s Barker sees hesitant recovery Posted: http://www.businessweek.com/news/2010-02-18/bank-of-england-s-barker-sees-hesitant-recovery-newsletter-says.html Comments won't be helping sterling. Cable off about 40 pips on day, presently at 1.5615, EUR/GBP marginally firmer at .8680 from early .8665.  |
| I remember back in the day…….. Posted: When IG Metall wage negotiations would be a MAJOR issue for the forex market. Until today they haven't even been on my radar scope. Maybe it's just that I'm not paying enough attention to things, or maybe times they are a changin. Anyways, German engineering sector in North Rheine Westphalia agrees salary increase of ...  |
| BOJ’s Shirakawa: Current price framework best for now Posted: Government must engage market trust in fiscal rebuilding Targeting short-term inflation may be negative for sustained economic growth BOJ must not be seen monetising debt No plan to extend BOJ's stock-buying scheme when it expires in April Japan economy needs to raise productivity to beat deflation Do not think emerging economies overheating China is dealing appropriately ...  |
| EUR/USD slips lower. Amendment to earlier commentary Posted: Must have still been half asleep when I wrote earlier EUR/USD commentary. As well as 1.3500 and 1.3525 option interest there is ofcourse option interest at 1.3550 which is being attacked as I type.  |
| What have I learnt about cable lately? Posted: Well, seems everyone wants to buy down at 1.5500/50 and everyone wants to sell up around 1.5850. The bit in the middle, it's a lottery man!!! You gotta be careful, what can i tell ya. I was only thinking this morning of the first professional cable deal I did way ...  |
| Posted: USD/JPY has slipped back in Asian trade, presently down at 90.90 from a North American close Wednesday up around 91.30, with Japanese exporters taking advantage of the recently elevated levels. Interesting to see Sean reporting that BOT Mitsubishi technical analysts looking for USD/JPY to rally further towards 92.90 in coming weeks. Just also noted Daiwa ...  |
| EUR/USD opens lower still; option interest noted Posted: No respite for the beleaguered euro as yet, down at 1.3570 from a North American close Wednesday up around 1.3605, with worries surrounding Italy's finances escalating. No major euro data releases today. Sizeable barrier option interest now looms down at 1.3500. Also option interest tipped at 1.3525. As a result would expect option-related defence ...  |
| Obviously we’re not the only lunatics in the world Posted: Even Bloomberg agrees! Currency trading is the place to be.  |
| Asian FX market wrap: IMF to sell gold, BoJ stays on hold Posted: The IMF will sell it's remaining 190 tonnes of gold BoJ leave rates unchanged at 0.1%, no new initiatives announced RBA maintain very bullish outlook for China Gold falls to $1106 immediately on IMF news, but steady thereafter Regional equity markets generally flat EUR/USD closed in NY near its session lows just below 1.3600. Trailing ...  |
| Posted: Asian bourses are generally flat with the Nikkei and HK up by around 0.2% and Sydney and Seoul down by the same amount. Gold is back close to its NY closing level at $1105/oz.  |
| Economists unhappy with BoE over ‘mixed signals’ Posted: There is a special language used by central banks to tell the market what it's intentions are. That is why press conferences and meeting minutes are so closely watched. All economists are fluent in this special languauge, or at least they think they are. Those in the City of London ...  |
| JPY crosses ticking higher after BoJ non-event Posted: The usual non-event from the BoJ might be encouraging some traders to cover the shorts in the JPY crosses. EUR/USD has popped up 15 pips off its lows as has the cable. All in all, a pretty disappointingly quiet session once again.  |
| BoJ keeps rates on hold at 0.1% Posted: Looks like there have been no new deflation-fighting initiatives but we'll have to wait for the press conference. USD/JPY unchanged.  |
| BoJ to keep rates unchanged but may resist government pressure Posted: The BoJ will make their announcement on rates sometime very soon and they are unanimously expected to keep rates unchanged at 0.1%. Of more interest will be the subsequent statement when the BoJ is likely to resist calls from the government for additional measures to fight deflation.  |
| Posted: The market had been expecting some Toshin-type demand yesterday and today so perhaps today's reaction is one of disappointment at the inability to break above 125.00. Whatever the reasoning, the cross is still falling and dealers tell me that this pair could easily fall towards 122.50/75 before any support levels ...  |
| Posted: The news that the IMF will sell their remaining gold reserves has sent the spot price lower again this morning, currently trading at $1100.50, down $6 from the NY close. The JPY crosses and the major pairings continue to trade with a heavy feel.  |
| Not much bounce in major pairings, could be more to come Posted: It feels a bit like a Friday afternoon when everyone is trying to get out of bad positions. EUR/USD, cable and AUD/USD have all broken the overnight lows and none of them look much like they want to bounce. 1.3530 and then 1.3475 are the big levels in the EUR/USD, ...  |
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