Mar 16, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Belgium FinMin: Belgium ready to participate in any Greek aid scheme

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Greek aid scheme could involve bilateral loans or guarantees. Ah, could involve bilateral loans or guarantees. EUR/USD back up at 1.3678 from session low 1.3657.

ECB: ECB says banks deposited E172.2bln with it vs…

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ECB: ECB says banks deposited E172.2bln with it overnight vs E160bln Friday and banks also borrowed E147mln at the marginal rate. ECB added that Eurosystem has now purchased E41.908bln worth of covered bonds as of Mar 15.

UK Treasury Chief Sec Byrne: EU has got judgement wrong over Uk deficit

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Answering criticism from Brussels that Uk not doing enough to cut defcit. Meanwhile UK opposition business spokesman Clarke says the Uk needs to start now on cutting deficit. They weren't going to miss the golden opportunity served up to them from Brussels. Meanwhile cable has rallied back, sovereign purchases cited. We're up ...

Sweden’s FinMin: Situation in Greece better, it has taken good steps

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Greece may need more fiscal steps in coming years Greek government deserves support from public, EU

Spanish FinMin: Greece does not need help at the moment

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Sounds like those anticipating an early confirmation of Greek support package are going to be disappointed. EUR/USD has eased lower, presently at 1.3662 having been as low as 1.3657 so far. Some sovereign buy interest tipped at 1.3650/60.

FRANCE DATA: February HICP +0.6% m/m; +1.4% y/y; Jan.

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FRANCE DATA: February HICP +0.6% m/m; +1.4% y/y; Jan +1.2% y/y -- February HICP above expected; MNI survey median +1.1% y/y -- February nsa CPI +0.6% m/m, +1.3% y/y; Jan +1.1% y/y -- February sa core CPI +0.5% m/m; +1.9% y/y; Jan +1.6% y/y -- See MNI MainWire for details

Cable comes under renewed pressure

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Cable has come under renewed pressure, stops tripped through 1.5010 and 1.4990 in quick succession.  I'm sure I'll be hearing that a certain Uk clearer has been actively selling again. Talk now has sovereign bids tipped down at 1.4950/60.

Swiss government raises 2010 GDP growth forecast to 1.4%

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From previous forecast of 0.7%. Sees 2011 growth at 2% Sees 2010 inflation at 0.8%,  2011 0.7% Sees 2010 average unemployment rate 4.3%.  2011 4.2% EUR/CHF continues it's sojourn lower, presently at 1.4510.  Still no sign of SNB.  Will they draw a line at 1.4500.  We'll see soon enough.

EMU DATA: New car registrations in the Eurozone and..

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EMU DATA: New car registrations in the Eurozone (excluding Cyprus and Malta) rose 3.0% on the year in February, ACEA reported on Tuesday. -- ACEA: EU-15 FEB NEW CAR REGISTRATIONS +4.9% Y/Y} -- ACEA: WESTERN EUROPEAN FEB NEW CAR REGISTRATIONS +5.0% Y/Y} -- ACEA: FEB CAR REGS GERMANY -29.8% Y/Y; FRANCE +18.2%; UK ...

Better poll news for Conservatives

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Latest Daily Express/Opinium survey makes more palatable reading for David Cameron.

ECB: Comments from ECB’s Bini Smaghi in FT………..

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ECB: Comments from ECB's Bini Smaghi in FT -- "Constructibe ambiguity" for bailouts useful. -- Rescue aid can be granted on "strict" conditions. -- Can't assume plenty of time to reso0lve issues.

US: US data starts at 1145GMT with the weekly Store..

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US: US data starts at 1145GMT with the weekly ICSC-Goldman Store Sales data. The main US releases are at 1230GMT, when we get the Import, Export Price Index along with Housing Starts & Building Permits. The pace of housing starts is expected to decrease to a 565,000 annual rate in ...

EUROPE: (2) The ZEW’s Economic Sentiment Index (ESI).

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EUROPE: (2) The ZEW's Economic Sentiment Index (ESI) fell for a fifth successive month in February, dropping by 2.1 points to stand at +45.1, its lowest level since July 2009. Nevertheless, it remains well above its historical average of +27.1. Meanwhile, the counterpart current conditions indicator posted a ninth successive ...

Cable steady at lower levels

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Cable sits at 1.5053, effectively where it closed out Monday in North America, struggling to regain ground lost Monday. Ongoing concern surrounding possible hung parliament, Uk's burgeoning budget deficit, anemic growth prospects, negative M&A flows are some of the factors which continue to weigh on sterling. Now the government is coming under ...

UK: UK data sees the 0930GMT release of the DCLG…..

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UK: UK data sees the 0930GMT release of the DCLG House Price Index.

EUROPE: The European Union finance ministers meet in.

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EUROPE: The European Union finance ministers meet in Brussels today, while European data starts at 0700GMT with the February ACEA new car registrations data. France releases final HICP for January at 0745GMT ahead of the main EMU data at 1000GMT. The EMU Feb final HICP data is due at 1000GMT ...

EUR/USD marginally firmer in slow Asian trade

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EUR/USD sits at 1.3695, marginally firmer from a North American close Monday up around 1.3670 with Asian trade confined to a narrow 1.3660-1.3699 range.  Seems the market is becoming a little immune to the ongoing twists and turns surrounding a possible support package for Greece.  Comment made by European Commission's Juncker that ...

US PRESS: The NY Times notes that 2012 also is the a.

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US PRESS: The NY Times notes that 2012 also is the beginning of a three-year period in which more than $700 billion in risky, high-yield corporate debt begins to come due, an extraordinary surge that some analysts fear could overload the debt markets. With huge bills about to hit corporations ...

US PRESS: The WSJ reports that Concerned about rates.

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US PRESS: The WSJ reports that Concerned about rising rates of employee theft and fiduciary issues, more employers are conducting credit background checks on applicants for some positions. Companies say the financial information can offer insight into a candidate's level of responsibility, the paper says. But people whose previously solid ...

Asian FX market wrap:

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China again says level of CNY not to blame for trade surplus RBA minutes from last meeting suggest further rate rises in store Regional stockmarkets fall by around 0.25% Japanese corporates continue with JPY repatriation ahead of end-of-financial-year European finance ministers deliver no new plan, but say are ready when needed USD/JPY has drifted lower ...
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