Apr 29, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EUR/USD: Traders say bit of “Wood to Chop” 40-50

Posted:

I am hearing of good selling orders placed between 1.3240-50. EUR/USD high so far 1.3243.

EMU March M3 Still Negative, Credit Provision Down

Posted:

Mar sa M3: -0.1% y/y M3 sa 3-mo avg: -0.1% y/y SA private loans: -0.2% y/y MNI survey median: Mar sa M3 -0.1% y/y M3 sa 3-mo avg: -0.2% y/y ...

EUR/USD: Having another Go at the Topside

Posted:

EUR/USD is having another go at the topside now that the market has gotten over the usual bearish diatribe in the British press. The pair is being carried higher by GBP/USD which regained1.5240 a few minutes ago in what has been a particularly volatile morning session so far. Asian central bank ...

Germany’s SA Unemployment Falls Yet Again in April

Posted:

--SA Unemployment: -68k (pan), -43k (west), -25k (east) MNI survey median: -10,000 m/m MNI survey range: -20,000 to +5,000 m/m FRANKFURT (MNI) - The German labour market once again beat all expectations, as 68,000 workers left the ranks of the unemployed, pushing the seasonally adjusted ...

Somali Pirates say they are Subsidiary of Goldman Sachs

Posted:

Given that there is not a lot going on (yet) in FX land, this spoof on Goldman's is worth a read.

GBP/USD and EUR/USD Recovering

Posted:

GBP/USD has caught a bid tone and is back above 1.5220 after trading down to 1.5150 on the open. EUR/USD is also trying to recover and has just dragged itself back above 1.3220. Traders say not a lot going on but early shorts have decided to cut and run when ...

NZD/USD: Surprsingly Well Bid

Posted:

The RBNZ announced a "no change" decision on interest rates overnight keeping the OCR at 2.5%. They did however change the wording with the "middle of 2010" phrase removed to "over coming months" in respect to hiking interest rates. It seems some in the market viewed "coming months" more hawkish than ...

Bearish UK Headlines as Usual

Posted:

Well the market has had time to read the papers "Hung parliament could tilt Britain into Greek-style turmoil - Daily Mirror, Warning for Britain as Financial Chaos Spreads to Spain-Telegraph, Debt crisis: UK banks sitting on GBP 100bn exposure to Greece, Spain and Portugal- The Guardian etc etc but there ...

FOMC Maintains “Extended Period” Wording

Posted:

Whilst the Fed decision overnight was as expected, they did maintain the "extended period" phrase which suggests that they will not increase interest rates for at least 6-months. That would take us right up to the end of this year and more likely sometime in 2011. Of course with US unemplyment ...

ECB: E49.646 Bln Covered Bond Purchases Settled Apr 28

Posted:

FRANKFURT (MNI) - The European Central Bank said Thursday that a total of E49.646 billion Eurosystem covered bond purchases had settled as of April 28. As of April 27, settled acquisitions had totaled E49.033 billion, the ECB said Wednesday. The ...

Typical Bearish Start to the New Day

Posted:

With weak shorts squeezed towards the end of the Asian session, Europe has picked up where they left off with the bearish hats on. EUR/USD is back below 1.32 whilst GBP/USD looks decidedly ordinary with players reckoning that if Spain needed to be downgraded than the UK must be very close behind. Asia ...

China/Russia talks: trade in local currencies

Posted:

The Chinese central bank are on the newswires saying they are holding discussions with Russia regarding trading in local currencies. I'm surprised the two old communist heavies hadn't such an agreement in place eons ago. FX market remains very choppy with no real direction.

EUR/USD: Still Struggling

Posted:

EUR/USD found a modest bid tone in Asia overnight. After closing in NY at 1.3220, the pair fell as low as 1.3184 before putting in a recovery of sorts. There were numerous reasons put forward to substantiate the strength, the most obvious one being a strong move higher in EUR/GBP ...

ECB Weber:Greece Aid Best Way To Prevent Contagion: Press

Posted:

FRANKFURT (MNI) - Providing fiscally embattled Greece with financial assistance is the best way to prevent the crisis from spreading, European Central Bank Governing Council member Axel Weber said in an interview published Thursday. The head of the Bundesbank was ...

EUR/GBP giving back some ‘illogical’ gains

Posted:

I never trust EUR/GBP moves in Asia and especially when the market is thinned by a Tokyo holiday. Add in to the mix that most of the gains were on wild rumours about a UK downgrading and the move certainly starts sounding illogical. I would not be at all surprised ...

German Coalition Member:See Quick Lawmaker Action On Aid Bill

Posted:

BERLIN (MNI) - The German parliament will be able to deliberate "thoroughly but swiftly" on an eventual bill on aid for Greece, Volker Wissing, a senior member of Chancellor Angela Merkel's CDU/CSU-FDP government coalition, said in a television interview Thursday. ...

Germany’s SA ILO Employment Continues to Increase in March

Posted:

--Previous Results: Mar +12k, Feb +16k, Jan +20k, Dec +35k, Nov -1k FRANKFURT (MNI) - The ranks of the employed continued to grow in March, extending the number of consecutive seasonally adjusted increases to four months, the Federal Statistical Office reported on Thursday. ...

UK Nationwide: House Prices See 2nd Consecutive 1.0% m/m Rise

Posted:

--Nationwide: UK April House Prices +1.0% m/m; +10.5% y/y --Nationwide: y/y Increase In Double Digits 1st Time Since Aug 07 --Nationwide: Feb-Apr House Prices Up 1.1% 3m/3m ...

German March employment +12,000 MoM

Posted:

Not that anyone is paying any attention to fundamental factors but the German economy has added 4000 more jobs than in February.

UK house prices +1% in April

Posted:

That's a YoY rise of 10.5%. No positive impact on the pound- still struggling with cable now below 1.5150
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