Feb 25, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

EUR/USD extends rally

Posted:

EUR/USD up at 1.3495 with Middle Eastern names seen buying.

BOE’s King: Willingness of governments to bail out big institutions removes discipline from system

Posted:

Have to make sure retail banking deposits are kept safe Can't rely on capital liquidity and resolution processes alone to fix system Narrow banking is part of the solution Financial system needs firebreaks and firewalls within it

UK prelim Q4 2009 business investment -5.8%, -24.1% y/y

Posted:

Annual fall biggest since series began in 1967. Ughhh. Data has knocked cable lower again, presently at 1.5277.

Cable extends sell-off, trips stops

Posted:

Cable trips stops below 1.5300, Presently at 1.5280 with next support at 1.5275. Probably more stops below there, but haven't had confirmation of such as yet.

King up soon

Posted:

09:30 GMT: Merve the swerve before Banking Commission hearing on the future of banking. No wonder sterling's struggling this morning.  Everytime he opens his gob it gets clobbered. :) Initial support, as mentioned earlier, 1.5300/05.

German February s.a. jobless total +7k

Posted:

Compared to median forecast of +19k.   Unemployment rate steady at 8.2%.

Cable extends sell off

Posted:

Cable has been as low as 1.5309, presently at 1.5315.  This despite reports of Middle East sovereign buying at higher levels. EUR/GBP has moved up to .8810 from early .8780 and this will be pressuring cable.  Swiss name said to have been active buyer of the cross.

Italy February business morale better than expected

Posted:

Has come in at 84.0, up from 83.2 in January.  That's better than median forecast of 83.7 and highest read since June 2008.

Greek/German 10year govt bond yield spread widens to 365 bps from 342 bps Wednesday

Posted:

Spanish/German 10year government bond yield spread widens to 81bps from 76bps Wednesday.

EUR/USD ticks higher

Posted:

Reports of various sovereigns buying EUR/USD, including Russia and Asian central bank.  We've ticked up to 1.3485.

USD/JPY under renewed pressure

Posted:

USD/JPY is under renewed pressure, presently at 89.25, with a US investment house seen selling aggressively. Wonder if they have an interest in taking out 89.00 option structures?  Let battle commence.

French February consumer confidence lot weaker than expected

Posted:

Has come in at -33 compared to median forecast -28. January revised down, to -30 from initial -29. Meanwhile French producer prices for December +0.7% m/m,   stronger than median forecast of +0.3% EUR/USD steady at 1.3467 in early trade. Talk of further stops through 1.3440.

China says U.S. should take effective steps to ensure confidence in dollar

Posted:

Decisions on forex based on market considerations and retaining value of holding. Ummm. Haven't they looked at the markets lately?

USD/JPY opens lower; barrier option interest noted

Posted:

USD/JPY is down at 89;45 from a North American close Wednesday up around 90.15, the yen benefitting from a combination of general risk aversion flows and repatriation flows ahead of the March 31st Japanese fiscal year end. Talk of 89.00 barrier option interest, so we might see some defence of said level surface. More ...

Cable opens lower

Posted:

Cable has given ground overnight, presently down at 1.5330 from a North American close Wednesday up around 1.5400.  Stops tripped on move through 1.5345. Supports next at 1.5300/05 and 1.5275.  Stops likely below both levels. Cable could do with a bout of Asian central bank buying interest surfacing right about now.  Where's ...

Euro gets hit hard overnight

Posted:

EUR/USD is opening lower again this morning, presently down at 1.3460 from a North American close Wednesday up around 1.3535. The euro losses come with rating agencies warning of possible downgrade to  Greece's credit rating in very near future. This opens up possibility of Greek bonds being inelligible for use as ...

Asian FX market wrap; risk-aversion leads to heavy selling in JPY crosses

Posted:

Greek downgrade rumours fuel EUR selling Market remains very nervous of Chinese selling in Treasury market China says US should not blame others for it's economic woes, Yuan exchange rate is not main reason for global instability RBA looks certain to hike by 25 bps next week NZ business outlook on the improve Australian new ...

AUD/USD plays catch-up

Posted:

Now the AUD/USD and AUD/JPY have started to fall at a slightly quicker pace, keeping up with the other crosses. Support for the AUD/USD should be firm around .8800, and we might see that level if the current mood continues into London trade. Yesterdays low was .8854.

Cable; next cab off the rank

Posted:

It has been a stop-loss fest in Asia today with risk aversion at very high levels. Cable has just broken below last week's 1.5345 low, 28 the  low so far. It's hard to see Europe reversing this move sharply but I've seen stranger things happen. EUR/JPY is the next big ...

GBP/JPY: talk of stops below 137.25

Posted:

That would equate with the cable being below 1.5340 and USD/JPY below 89.50, which would mean that both 'legs' of the cross would have broken their support levels. If Europe carry on with this 'risk aversion' then these stops in GBP/JPY will certainly be in view as of course will ...
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)