Feb 26, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

UK Q4 GDP +0.3% q/q, -3.3% y/y

Posted:

UK Q4 GDP has come in at +0.3% q/q, -3.3% y/y, revised from prelim +0.1%, -3.2% respectively. Intial rally to 1.5325 on EBS turns round abruptly, presently at 1.5255.  At a loss to explain that one. Right this is how it's been explained to me.  As Alexander alluded earlier, there were rumours ahead ...

Greek PM: Those responsible for the crisis must pay

Posted:

Previous government plundered the public sector Greece a victim at the mercy of the markets Now is time for decisions and actions for the country We must forget political cost, focus on country's survival No other country will pay for Greece's debts Must rebuild country on solid, healthy foundations Will do whatever we can to face ...

EUR/USD recovers after early slip

Posted:

EUR/USD sits at 1.3575 in fairly sluggish trade.  Aforementioned buy orders tipped at 1.3550 helped contain early slippage. Probably some small stops just below 50, but nothing major.  On topside sell orders tipped up at 1.3610/30. Cable has also recovered, back up at 1.5275.

Japan FinMin’s Dep Minezaki: Doubt adopting inflation target now would boost prices

Posted:

Some in government want BOJ to ease policy further Government won't mention sales tax hike when crafting fiscal plan in June Economic outlook bleak. Can't ask public to shoulder more tax burden before mid-year election Excess capacity, weak demand to prolong deflation USD/JPY are 89.30, all but unchanged on the day.

Cable extends sell-off

Posted:

Cable down at 1.5245. Asian sovereign seen selling up around 1.5270/80.

EUR/CHF steady as a rock

Posted:

EUR/CHF sits at 1.4632, seeing very steady trade. I guess we should note that the SNB quite likes intervening on a Friday.

Labour could still win most seats, new poll shows

Posted:

 What a lovely picture of our beloved leader.

Colonel Gaddafi calls for jihad against Switzerland

Posted:

Thought the swissy might have weakened on this news.  Just joking.

Nationwide February house price data weaker than expected

Posted:

Has come in at -1.0% m/m, +9.2%, much weaker than median forecasts of +0.4%, +11.0% respectively. This is being labelled "a surprise."  Ain't no suprise to me. Surprise to me has been the relentless recovery in prices.  Will be interesting to see if this is a blip or the start ...

John Lewis says weekly department store sales up 15.1%

Posted:

Things seem to be going well at good old John Lewis.  Always liked their stores. Little pricey, but always good quality. Cable meanwhile touch lower, presently at 1.5270, sell orders up around 1.5300 proving barrier in early trade.

Germany should remember its euro gains

Posted:

Stephen Fidler in WSJ.

Cable opens very marginally firmer

Posted:

Cable sits at 1.5290, very marginally firmer from a North American close Thursday down around 1.5265.  Boy,  given all the negative rhetoric surrounding sterling thought I'd  be walking in to see cable sub 1.5200. It's a funny old world, for sure. Anyways big event risk day for sterling with the 09:30 ...

EUR/USD firmer on continued short covering

Posted:

EUR/USD sits  at 1.3590, up from a North American close Thursday down around 1.3545.  Steady sovereign purchases yesterday seem to have prompted a bout of short covering.  The move comes despite a report in the WSJ entitled "Hedge funds trying 'career trade' against the euro.  Euro zone data today 10:00 GMT: Italian PPI ...

Indian economic growth slowed to 6% in Q4

Posted:

Not much attention was paid to the Indian economy in years past but that is all changing as the big emerging markets take on more importance. GDP was +6% in Q4 down from +7.9% in Q3. Have a great weekend.

Asian FX market wrap: quiet consolidation to finish the week

Posted:

Japanese January retail sales better than expected at +2.6% Australian private sector credit +0.4% MoM New Zealand posts strong January trade surplus Increasing reports that hedge funds betting big against the EUR Regional stockmarkets rally by over 0.5% Gold steady at $1108/oz after 1% rally overnight EUR/USD opened in Asia around 1.3560, fell initially to its ...

AUD/NZD still struggling to make big break higher

Posted:

This is a pair which a lot of professional traders like to buy and hold as the theory goes that it's a "no-brainer" trade to be long. Perhaps it is, but a quick look at the long term charts suggests a pair which is having massive difficulty in breaking above ...

Around the markets: equities slightly higher, gold steady

Posted:

The major regional indices are about 0.5% higher on average and Gold is steady close to the NY closing level of $1107.50.

No risk of UK debt crisis says head of UK debt management office

Posted:

Here's the latest offering from AEP in the UK Telegraph.

EUR/JPY holding close to session highs

Posted:

Looks like we might see some further gains in the EUR/JPY and possibly EUR/GBP as well as both are holding steady close to their session highs at 121.35 and .8900 respectively. No major developments anywhere, just the typical Friday short covering ahead of important US GDP data later tonight.

Hedge funds aiming for ‘career trade’

Posted:

This is from the Wall Street Journal and it basically supports that what we've been writing for the last few weeks that the professional trading market are heavily short EUR across the board and are increasing their bets against the EUR. They may be right but we can also expect ...
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