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- ForexLive US wrap-up: EUR ends the week on a downer after Spanish downgrade
- US House Sends $113 Bln Tax Extenders,Unemp Insurance Pkg To Senate
- He sold at 1.2450, he buys at 1.2280…
- Another day, another stimulus bill
- Fitch analyst: Stable outlook means Spain safe for a year
- EUR/USD holding up better than you’d expect
- Spain cut to AA plus from AAA by Fitch
- I’ll have what he’s having…
- US House Now Debating $113 Billion Tax Extenders, UI Package
- Middle Eastern accounts sells into EUR/USD rally
- EUR/JPY stabilizes, rebounds; stocks too
- ECB Update: No Common ECB Position On Euro Slide
- BOE Posen: US Fiscal Situation Unlike To Improve Any Time Soon
- EUR/JPY in retreat
- Canadian budget deficit smaller than projected
- Fed Schedules Small Term Deposit Facility Auctions Next 2 Mos
- Text:Fed: Small Term Deposit Facility Auctions Next 2 Months
- Weber: Readjustment After Over-Optimism Can Cause Cred Crunch
- Fed to try out draining measures
- North Korean war threat prompts risk aversion
| ForexLive US wrap-up: EUR ends the week on a downer after Spanish downgrade Posted: Fitch cuts Spain to AA+ from AAA, outlook stable Spain to extend talks with labor as it seeks reform; talks going badly Spain cuts economic forecasts UK's Cameron: No economic recovery without deficit cuts US personal income rises 0.4% in April, spending flat Chicago PMI falls to 59.7 from 63.8 in April Canadian budget deficit ...    |
| US House Sends $113 Bln Tax Extenders,Unemp Insurance Pkg To Senate Posted: --House Approves Scaled-Back Plan in Two Votes --House Passes Tax Extenders, UI Benefits Package in 215 to 204 Vote --House Oks Medicare 'Doc Fix' in 245 to 171 Vote --Senate Expected To Take Up Extenders Bill Week of June 7 By John Shaw WASHINGTON (MNI) - In two votes, the ...  |
| He sold at 1.2450, he buys at 1.2280… Posted: Traders report rumblings that our pudgy friend is sniffing around looking to buy EUR/USD on dips. We broke briefly below 1.2280 but failed to follow-through, reaching only 1.2277. That might be it.  |
| Another day, another stimulus bill Posted: The US House has passed a $79 bln stimulus bill that will extend unemployment benefits along with other goodies. The bill will add $31 bln to the deficit over 10-years...  |
| Fitch analyst: Stable outlook means Spain safe for a year Posted: CNBC just interviewed the son a Fitch who just downgraded Spain. He says his stable ratings outlook means that Spain's rating likely won't be adjusted for the next year. EUR/USD continues to hold up better than most would have expected, finding support ahead of 1.2280. Bounces are modest, however. Look for ...  |
| EUR/USD holding up better than you’d expect Posted: Seems as though specs are reluctant to chase the euro lower on a Friday afternoon ahead of a holiday weekend despite news that Spain has lost its AAA. The news is not exactly a shock, given the rumors that have swirled all week.. Not sure if there are resting bids below ...  |
| Spain cut to AA plus from AAA by Fitch Posted: After weeks of speculation, Spain has finally lost its AA rating, sending the pair down sharply from the 1.2300 area to just below 1.2300. Spain's adjustment to a lower debt level will materially reduce the rate of economic growth over the medium-term, Fitch said. Equities are getting blasted as a result with ...  |
| Posted: One can only guess what the German economics minister had to drink with lunch, but clearly it had an intoxicating effect. Regarding the Fed, he said "It is a regular procedure of central banks," to intervene in currency markets, Bruederle said. "It is not a secret," that central banks have a ...  |
| US House Now Debating $113 Billion Tax Extenders, UI Package Posted: --House Democratic Leaders Hope Trimmed Down Plan Can Pass The House --House Plan To Be Voted on In Two Pieces; Would Boost Defict By $54B --Senate Expected To Take Up Extenders Bill Week of June 7th By John Shaw WASHINGTON (MNI) - After a week of frantic negotiations within the House ...  |
| Middle Eastern accounts sells into EUR/USD rally Posted: Traders report one of the myriad little central banks in the middle east selling into the latest EUR/USD bounce in the low 1.2370s. These guys tend to be pretty active jobbers, so the sales don't necessarily reflect a vote of no confidence in the euro...  |
| EUR/JPY stabilizes, rebounds; stocks too Posted: It's all about risk ahead of the weekend as markets gyrate on the latest North Korean war threat. US equities are off their lows, down about 0.5% after falling more than a percent earlier. EUR/JPY has bounced back to 112.20 after a slide to 111.60 after triggering stops. Expect the rest ...  |
| ECB Update: No Common ECB Position On Euro Slide Posted: FRANKFURT (MNI) - The recent depreciation of the euro is beginning to cause some policy makers concern while others continue to welcome its positive effect on the ailing Eurozone economy. "A currency should always reflect the fundamentals of an economy ...  |
| BOE Posen: US Fiscal Situation Unlike To Improve Any Time Soon Posted: --Posen: Euro Area To See Slow Growth In Coming Years --Posen: Evidence Suggests Global Imbalances Due Real Econ. Factors --Posen: IMF Underestimating Likely Size of US Deficits ...  |
| Posted: Looks like geopolitical jitters are leading to risk-off behavior and unwinding of fresh EUR/JPY longs rather than a move out of JPY, a close neighbor of Korea. Stops below 111.85 were triggered, pushing EUR/JPY to 111.60, albeit briefly. The cross trades now at 111.85.  |
| Canadian budget deficit smaller than projected Posted: The deficit was C$ 47 bln, nearly C$ 7 bln smaller than forecast, preliminary figures show.  |
| Fed Schedules Small Term Deposit Facility Auctions Next 2 Mos Posted: By Steven K. Beckner (MNI) - The Federal Reserve will move forward soon with what it calls "small-value" auctions of term deposits under its newly created Term Deposit Facility, the central bank announced Friday. The first auction of $1 billion in ...  |
| Text:Fed: Small Term Deposit Facility Auctions Next 2 Months Posted: WASHINGTON (MNI) - The following is the text of a statement by the Federal Reserve Friday regarding plans to hold three small-value auctions of term deposits over the next two months. The release says the auctions are a matter of 'prudent planning' and will have ...  |
| Weber: Readjustment After Over-Optimism Can Cause Cred Crunch Posted: ELTVILLE, Germany (MNI) - The readjustment process that takes place after a period of over-optimism can lead to a credit crunch, European Central Bank Governing Council member Axel Weber said Friday. In remarks to be delivered at a conference sponsored ...  |
| Fed to try out draining measures Posted: As announced several weeks ago, the Fed will try out several facilities to drain cash from the system via term deposits auctions. This is not a policy shift, just a test of a new facility. They have already tested reverse repos, in preparation for the day when they do begin to ...  |
| North Korean war threat prompts risk aversion Posted: More saber rattling from above the 38th Parallel is spooking markets, sending US equities to session lows. EUR/USD and EUR/JPY are selling off as a result. Keep an Eye out for stops in EUR/JPY in the 111.85 area. EUR/USD sell orders continue to build into the 15:00 GMT fixing but the ...  |
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