Apr 17, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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US Dodd: Still Hopes for Bipartisan Financial Regulatory Deal

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--Senate Banking Chief Rejects Republican Claims of Partisan Agenda --Open To GOP Ideas But 'Let's Not Engage In Nonsense' --Republican Senators Say They Will Block 'Partisan' Dem Bill By John Shaw WASHINGTON (MNI) - Senate Banking Committee Chairman Chris Dodd said Friday that he remains open to reaching a ...

ForexLive US wrap-up: Goldman charges add to risk trade unwind

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Goldman Sachs charged with fraud by US Securities and Exchange Commission US housing starts rise 1.6% University of Michigan consumer sentiment index tumbles to 69.5 in April from 73.6 in March ECB's Stark: Skeptical of IMF role in Greek bailout China's Hu: To gradually adopt managed floating exchange rate system S&P 500 falls 1.6% 2-year ...

EUR/JPY, like stocks, off lows at Wall Street close.

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Coulda been worse ... That's about the best that can be said for the markets today, Continued Greek woes, speculation of a Chinese revaluation in the not-too-distant future and the shocking news that Goldman Sachs has been charged with fraud by the US Securities and Exchange division all contributed to ...

Fed’s Hoenig: Commercial Real Estate Defaults May Have Peaked

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--Reluctant to Use Reserve Requirements as a Policy Tool Right Now By Steven K. Beckner and Claudia Hirsch NEW YORK (MNI) - Kansas City Federal Reserve Bank President Thomas Hoenig said Friday that, though still at problem levels, U.S. commercial real estate loan defaults may have reached ...

For US Lamwakers Seeking To Cut Deficit, Plenty of Ideas Coming

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--White House's Simpson-Bowles Panel To Hold First Meeting April 27 --Several Other Key Panels Are At Work on Fiscal Recommendations --Budget Experts Say Steps Ahead Are Well Known, But Politically Hard By John Shaw WASHINGTON (MNI) - It's at least a modest irony that the commission recently created to ...

ECB Update: ECB Appears Convinced And Keen On Greek Aid

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FRANKFURT (MNI) - European Central Bank Governing Council members seem convinced that Greece will activate the contingency aid plan and appear to welcome the start of the program - even if they are not all sold on the idea of IMF participation in it. ...

ECB Draghi: Eurozone Economic Recovery Fragile, Uneven

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MADRID (MNI) - The Eurozone recovery is "fragile and uneven, and slower than in the U.S. and emerging countries," European Central Bank Governing Council member Mario Draghi said on Friday. Speaking on the margins of the informal Ecofin meeting here, ...

ECB Stark: Rate On Greek Loans Not A Subsidy: Germany Press

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FRANKFURT (MNI) - The rate offered to Greece for loans as part of the Eurozone's E30 billion contingency aid package is not a subsidy, European Central Bank Executive Board member Juergen Stark said in an interview with the German daily Frankfurter Allgemeine Zeitung, released Friday. ...

Obama: US willing to up savings, Germany and China need to up dometic demand

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As part of the G20 framework, Obama says the US is willing to raise its savings rate but purely export-driven like China and Germany must improve domestic consumption. How they do that is up to them, he says. Markets are backing and filling, with risk aversion easing a bit as stocks ...

EMU Data: MNI Survey Of Econ Data Forecasts, April 22

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Germany Data: MNI Survey Of Econ Data Forecasts, April 20

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Goldman told in advance it faced SEC action: Reuters

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Okay, conspiracy fans, here's one you'll love: Reuters reports the SEC told Goldman in advance it was set to take action against it. Think the prop desk might have had a few "hedges" on?

Sub-0.9220 stops coming into focus in AUD

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AUD/USD is under intense pressure as risk aversion sweeps the markets. On a thin Friday afternoon, stops below the 0.9220 level are quickly coming into play. AUD/USD has been as low as 0.9240 so far. Amid talk of options-related selling earlier in the week ahead of 0.9400, longs hope there will ...

Central banks play “buy the dips” despite risk rise

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Traders say they see orders from Asian central banks beginning to filter into the market just ahead of the 1.3450 area. EUR/USD managed to probe below 1.3480 earlier, triggering another batch of stop-loss sell orders. Uncertainty surrounding the how and when of the Greek aid package as well as the new ...

Update: ECB Stark: Will Act In Timely Way On Interest Rates

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--Adds comments on IMF, Government Debt, Growth and Stability Pact FRANKFURT (MNI) - The European Central Bank must and will act in a timely manner to raise interest rates when the time is right, European Central Bank Executive Board member Juergen Stark ...

USD/JPY: 91.50/75 area critical

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USD/JPY has probed below the 92.00 level as traders continue to avert risk. The strong support area between 0.9150 and 0.9175 should put up a fight if USD/JPY continues to slide. There are multiple lows on the hourly charts at the 91.75 level dating back to 25th of March and the ...

US Dealers: FOMC Statement To Remain, Or See Minor Tweaks

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--Some Eye Fed Tightening As Soon As September 2010 --Discount Rate/Fed Funds Spread Still Debated By Alyce Andres-Frantz CHICAGO (MNI) - A survey of the chief economists at the U.S. primary dealerships expect either the same or minor tweaks to the Federal Open Market Committee meeting statement April ...

Better late than never…

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Here is the Reuters write up of the Hu comments regarding a managed float. Their is less to the story than the earlier Dow Jones headline would have implied.

Fed’s Warsh: Now in ‘Exit Stage’ But Not Yet From Mon Pol Ease

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By Steven K. Beckner and Claudia Hirsch NEW YORK (MNI) - Federal Reserve Board Gov. Kevin Warsh said Friday the central bank has begun its exit from unprecedented financial rescue efforts, given the conclusion of most of the special liquidity facilities it created in the throes ...

Double-top eyed now in EUR/JPY

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The break to the downside in EUR/JPY on the combination of Yuan revaluation talk and risk aversion fueled by EU sovereign risk woes and the fresh news of Goldman Sachs being charged with fraud by the SEC is threatening to trigger a double top pattern in EUR/JPY. A break of 123.43 ...

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