Your forexlive.com ENewsletter |  |
- ForexLive US wrap: German aid talk boosts EUR
- Earthquake off Japanese coast
- Sarko snubbed again!
- EUR/USD set to close above 10-day average for first time since Feb 16
- Fed’s Evan’s points out risk of unintended consequences
- That might be all folks…
- Strauss-Kahn: EU able to deal with Greece; Happy to help if asked
- USD/JPY undermined by soft US yields
- Fed’s Evans: Recovery uneven; employment a concern
- S&P: US AAA rating “hanging in there”
- Double bottom possible in EUR/USD
- IMF: Dollar played its role in crisis; healthy to explore alternative
- 1.3693 the topside target for EUR/USD; CB sells rally
- Large demand for Cable rumored at fixing
- Bloomberg: Germans may buy Greek debt
- German inflation very soft; +0.2% m/m, 0.4% y/y
- Here we go again…
- World Bank: Double-dip unlikely
- USD/JPY weakness has 88.50 barriers in focus again
- UK clearing bank knocks EUR/USD lower
| ForexLive US wrap: German aid talk boosts EUR Posted: Bloomberg reports Germany may use KfW to buy Greek debt AIG reports large loss, says may need more government aid US Q4 GDP revised to +5.9% from 5.7%, consumer spending weak EU says Greece needs another EUR 4 bln in budget cuts Chicago PMI rises to 62.6 from 61.5; stronger than expected University of ...    |
| Posted: Reuters reports that there has been a magnitude 7.3 earthquake off the coast of Japan. No word on damage yet, if any. If there is damage, historically the JPY tends to rally as Japanese insurers repatriate overseas funds...USD/JPY trades at 88.90. UPDATE: Japan has issued a tsunami warning after the quake which was ...  |
| Posted: The White House press flack says Obama held a call with Brown and Merkel today to discuss the economy and trade. M. Sarkozy will unhappy to hear he was snubbed by Obama once again... The Greek debt situation was discussed on the call, the press secretary said. The EU can adequately ...  |
| EUR/USD set to close above 10-day average for first time since Feb 16 Posted: EUR/USD looks like it will close above its 10-day moving average (1.3591) for the first time since Feb 16 and just the second time since January 15th. We closed above the average on February 16 at the 1.3798 level and plunged to close the next day at 1.3600, so that ...  |
| Fed’s Evan’s points out risk of unintended consequences Posted: If the Fed losses its supervisory and regulatory authority it may increase pressure on the Fed to use monetary policy to halt risky activities. Chicago Fed president Evans says. Fed-skeptics would say they didn't do very much of its authority- either supervisory or monetary - to halt risk activities, so maybe ...  |
| Posted: The combination of Friday, month-end and a big snow storm in New York may help keep traderrs from venturing too far from present levels through the balance of the session. EUR/USD looks like it may have carved out a near-term bottom for the next few days, though confirmation will only come ...  |
| Strauss-Kahn: EU able to deal with Greece; Happy to help if asked Posted: IMF chief Strauss-Kahn says he is happy to help Greece if asked but the EU is able to deal with the fiscal problems. He indicates that the EU wants to deal with the problem of Greece themselves. EUR/USD continues to retrench, now trading just above 1.3600.  |
| USD/JPY undermined by soft US yields Posted: USD/JPY trades at fresh session lows, down as far as 88.74 in the last few minutes. Stops are seen at the 88.70 level (a crazy spot, since trend lows are down at 88.55...) , t5raders report. Barriers are rumored at 88.50 while stops sit just below at 88.40/45. Slumping US yields ...  |
| Fed’s Evans: Recovery uneven; employment a concern Posted: Chicago Fed president Evans is on CNBC and is in-line with most of his colleagues in seeing a sluggish recovery. Debt levels and the labor market situation are keeping consumers cautious, he says. Interest rates will remain low for an extended period but the Fed must be ready to act when ...  |
| S&P: US AAA rating “hanging in there” Posted: I guess that is an affirmation of the rating of sorts. There are still reasons to worry about a double-dip recession, S&P says, via Reuters.  |
| Double bottom possible in EUR/USD Posted: Now that we are in the same zip code as 1.3693, we can raise the possibility of a double-bottom in EUR/USD in the 1.3445/50 region. A break of 1.3693 should yield a measured move objective of 1.3942, the text book tells us. Be very careful about fading strength today...  |
| IMF: Dollar played its role in crisis; healthy to explore alternative Posted: IMF managing director Strauss-Kahn says the global monetary system showed resilience during the crisis and the dollar played its role. The issue of whether a new global reserve asset is needed is a loner-term question. It is "intellectually healthy" to explore questions of a new reserve asset, the MD says. EUR/USD ...  |
| 1.3693 the topside target for EUR/USD; CB sells rally Posted: EUR/USD just made a new high of 1.3666 and bulls are targeting a retest of the 1.3693 highs from Tuesday. Central bank selling is already coming into the market, so it could be a good two-way battle. The Bloomberg report that Germany is preparing to buy Greek government debt is being ...  |
| Large demand for Cable rumored at fixing Posted:  |
| Bloomberg: Germans may buy Greek debt Posted: Germany's KfW, the state-owned development bank, may buy Greek debt in an emergency measure, Bloomberg reports. That is one of the proposals that has been circulating in the background, but based on the headline, it looks as though the bailout may be underway.  |
| German inflation very soft; +0.2% m/m, 0.4% y/y Posted: Preliminary CPI in the Fatherland was very weak for the month of February. It rose 0.2% m/m but only 0.4% y/y. That is miles below the ECB's close-to but below 2% target. Come JCT, gives us the rate cut we so richly deserve. Market doesn't care; it needs to buy EUR/USD. We ...  |
| Posted: Make it three days in a row that we get a short squeeze sometime between 15:00 and 16:00 GMT...The previous squeezes peaked at 15:55, foe what it's worth. EUR/USD trades at 1.3617. There may be a fixing component to the move higher as US shares out-performed European shares this month, passive portfolios ...  |
| World Bank: Double-dip unlikely Posted: World Bank chief Zoellick says it is unlikely that the global economy faces a double-dip recession. Load up on risk trades kids. the World Bank has spoken... ;)  |
| USD/JPY weakness has 88.50 barriers in focus again Posted: With USD/JPY back below the 89.00 level traders are once again reminded of the 88.55 trend lows and the barriers just below that level. Stop-loss sell orders are seen around the 88.70 level and again at 88.40/45, it should come as no surprise.  |
| UK clearing bank knocks EUR/USD lower Posted: EUR/USD just took a quick trip down to the 1.3560 level as a UK clearer unloaded on the market. USD/JPY did the same. so odds are it was a EUR/JPY sell order. Don't need a think tank to comes up with pearls of wisdom like that... Crappy US home sales appear ...  |
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