Feb 24, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Euro zone industrial orders stronger than expected

Posted:

Euro zone industrial orders for December have come in at +0.8% m/m, +9.5% y/y, demonstrably better than median forecasts of -1.0%, +6.0% respectively.

Risk aversion picking up

Posted:

European stocks have slipped into the red, gold near session low and oil off (albeit only 1/4 of a buck) Comments from Czech FinMin and German lawmaker won't have helped Greek jitters any. EUR/USD has slipped back, presently at 1.3520.  Market struggling for clear direction so far today.

USD/JPY dips, decent AUD/JPY selling being seen

Posted:

USD/JPY has slipped to 90.05 amid talk of heavy AUD/JPY selling.  One of the main sellers of the cross is the same US investment house earlier seen selling AUD/USD.  There the sell-off has extended to .8860. US custodial also seen selling AUD/USD.

German Lawmaker: State aid to Greece legally impossible

Posted:

Dow Jones reporting comments made by German lawmaker of ruling Conservative party Germany must ensure won't pay for Greece Aid could trigger spiral for more aid demand.

Czech FinMin says Greek pledge to cut deficit to 3% in 3 years is “nonsense” in his view

Posted:

Harsh, but he's probably got a point.

USD/JPY steady; buy/sell orders noted

Posted:

USD/JPY at 90.28, effectively unchanged on the day in Europe. Talk buy orders down at 89.80/00, sell orders 90.30/50.  Would think some buy stops gathered not far north of 50. On downside not sure where stops are likely located.

Cable steadies after brief dip

Posted:

Cable has recovered it's poise, back up at 1.5450 amid talk of an Asian sovereign buying.  Somewhat inconclusive start to proceedings today.

Aussie comes under pressure

Posted:

AUD/USD has come under pressure, down at .8895 from early .8925 amid talk of US investment house selling.

EUR/USD dips and steadies

Posted:

EUR/USD slipped slightly over past 10 minutes or so, but buying interest out of Asia has surfaced and we've steadied, presently at 1.3525.  As mentioned earlier there was talk of Asian sovereign buying overnight, although I don't know whether this latest interest is of the sovereign variety. Talk of buy orders ...

German Q4 final GDP unchanged

Posted:

At flat q/q, -1.7% y/y Elsewhere German Gfk March consumer sentiment came in down at 3.2 from revised 3.3 in February, but better than median forecast of 3.0.

Cable touch firmer

Posted:

Cable is trading at 1.5445, marginally firmer from a North American close Tuesday down around 1.5420.  Bank of England's King came and went wreaking his usual havoc.  Didn't say anything surprising, but still managed to help put cable on the backfoot.  Slight increase in emphasis over possibility of further QE maybe?  Go figure. Decent buy ...

China CPPCC spokesman says yuan adjustment should be gradual

Posted:

Oh, I'm sure it's going to be gradual. Yuan adjustment should not be "big fluctuation" Won't make sudden yuan change, China will be "prudent"

BOJ Dep Gov Yamaguchi: Sticking to stance of taking necessary steps when needed

Posted:

No comment on if thinking of further BOJ action now Japan's fiscal balance in severe state Market always focusing on how government deals with fiscal woes USD/JPY sits at 90.25, effectively unchanged from where it closed out Tuesday in North America with Asian trade confined to narrow 90.10-90.31 range.  Buyers emerged on dip below ...

EUR/USD touch firmer, steadying after yesterdays sharp fall

Posted:

EUR/USD sits at 1.3540, a little firmer from where it closed out Tuesday in North America.  Yesterday saw the confluence of numerous negative factors serving to ratchet up risk aversion. Weak German Ifo data; comments from Harvard's Rogoff that he sees sovereign defaults coming; ongoing Greek worries amid strikes andbank ...

Forex Live Asian Market Wrap Up

Posted:

Economic Data ABC / Washington Post Consumer Confidence for the week-ending Feb.21st, was -50 from -49 the previous week. Japanese Merchandise Trade Balance for Jan. Yen 85.2 billion from Yen 545.3 billion ...

Euro and Cable give back some of their gains

Posted:

Cable slipping to 1.5440 and Euro off fractionally to 1.3535 as traders cover their positions as the Asian session winds down. Dollar yen remaining steady at 90.20

Japanese Retail Investor Sentiment Index falls in Feb.

Posted:

The Index falls 22 points to -48. Also released is a Reuters poll showing Japanese sentiment in the Auto sector falls 34 points to -36, the Toyota recalls cited as the main reason. A very muted reaction in Dollar - Yen with the currency trading a smidgen higher at 90.22/25.

Hong Kong’s Economy shrank 2.7 % in 2009

Posted:

Hing King Financial Secretary, John Tsang, in his annual budget speech announced that Hong King GDP fell in 2009 by 2.7 %  although in Q4 it did rise by 2.6 %. He expects GDP to expand to between 4 and 5 % and inflation of 2.3 % in 2010.

Yamaguchi – “We’re always ready to act”

Posted:

Bank of Japan Deputy Governor Hirohide Tamaguchi days that "The BOJ will do its utmost to pull Japan out of deflation". Speaking to a group of business leaders in Japan he said that the downward pressure on prices would remain for some time and the economy would hit a soft ...

Asian Stock Markets continue to trade lower

Posted:

Nikkei -1.84 % Kospi -1.32 % Shanghai Composite -0.22 % and the Hang Seng in Hong Kong -1.07 % Dollar Yen at 90.20/23
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