Jun 18, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Head of Spain’s La Caixa bank says Spain’s financial system has liquidity, not solvency, problems

Posted:

EUR/USD sits at 1.2390 in rather directionless trade.

UK Analysis: May Public Sector Borrowing Down On Year Ago

Posted:

--May PSNB Stg16.023bn vs Stg17.421bn in May 09; median Stg18bn --May PSNCR Stg11.963bn vs Stg19.13bn in May 09; median Stg20bn LONDON (MNI) - Public Sector Net Borrowing eased in May compared to a year earlier, suggesting that the worst could be over for the public ...

TABLE: BOE Loan Survey Data For May

Posted:

London (MNI) - The following table shows the key mortgage lending results of the BOE Trends in Lending survey: Major UK Lenders (Lending Panel) ...

UK May PSNCR 11.963 bln, PSNB 16.023 bln

Posted:

Better than median forecasts PSNCR 20.25 bln and PSNB 18.0 bln. Cable up about 20 points at 1.4870. Earlier stops were tripped through 1.4860 helping cable reach session high 1.4886 before selling off. May M4 money supply unchanged m/m, +2.8% y/y, weaker than median forecasts +0.2%, +3.2% respectively. Mortgage approvals by major UK banks 51,000 ...

ECB Trichet: Central Banks Must Watch Credit Growth Closely

Posted:

FRANKFURT (MNI) - Policymakers must closely monitor credit growth because it can serve as a leading indicator of emerging economic imbalances, European Central Bank President Jean-Claude Trichet said Friday. "Too rapid overall credit growth should always be a warning signal ...

Germany Confirms To Sell E4 Bln New 12-Month Bubills Jun 28

Posted:

FRANKFURT (MNI) - The German federal government will sell E4 billion in new 12-month bubills, the Bundesbank confirmed Friday. The formal tender offer will be made on Friday, June 25. Bids are due by 0900 GMT on Monday, June 28, ...

Germany Seeks Bids On E2 Bn Tap Of Mar2011 Bubill; Sale Jun 21

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids on a E2 billion tap of its March-2011 bubill, the Bundesbank confirmed Friday. Bids are due by 0900 GMT on Monday, June 21. The announcement of the auction results will be made shortly thereafter. ...

ECB’s Trichet: Too rapid overall credit growth should always be a warning signal for central banks

Posted:

Responding to monetary and credit dynamics by assessing risks to price stability implies interest rates decisions will tend to "lean against" accumulating financial imbalances and asset price misalignments Bond purchases on the secondary market cannot be used to circumvent budgetary discipline We are inflexibly attached to price stability Price stability and proper transmission ...

Update: Draghi: Glad About Consensus To Publish Stress Tests

Posted:

--Adds fuller Draghi quotes ROME (MNI) - European Governing Council member Mario Draghi said Friday that he was happy about the growing consensus in Europe to publish the results of bank stress tests, and he made clear Italy would publish the tests of its banks. ...

ECB: E58.213 Bln Covered Bond Purchases Settled Jun 17

Posted:

FRANKFURT (MNI) - The European Central Bank said Friday that a total of E58.213 billion Eurosystem covered bond purchases had settled as of June 17. As of June 16, settled acquisitions had totaled E57.883 billion, the ECB said Thursday. The ...

ECB Draghi: Glad At Growing Consensus To Publish Stress Tests

Posted:

ROME (MNI) - European Governing Council member Mario Draghi said here Friday that he was "glad" about the growing consensus in Europe to publish the results of bank stress tests. He said Italy planned to publish the results of stress ...

Cable steady in early European trade

Posted:

Cable sits at 1.4835, where it was when I arrived nearly 3 hours ago.  Talk of stops through 1.4860. UK data due today: 08:30 GMT: PSNCR for May expected 20.5 bln;  PSNB expected 18.0 bln M4 money supply for May expected +0.2% m/m, +3.2% y/y Mortgage approvals for May expected +50k.

Italy’s Draghi says pleased with EU bank stress test decision; Italy can only gain from it

Posted:

Europe needs, above all, structural reforms to spur growth potential Meanwhile back at the ranch EUR/USD has drifted lower, presently at 1.2375.  Well it is Friday. Talk of stops through 1.2330, as Sean mentioned earlier.

German May PPI stronger than expected

Posted:

Has come in at +0.3% m/m, +0.9% y/y, stronger than median forecasts of +0.1%, +0.8% respectively.

Japan Gov’t Upgrades Economic Assessment But Remains Cautious

Posted:

-- Cabinet Office: Increased Govt Confidence In Self-Sustained Recovery -- But Govt Still Cautious, Not Ready To Declare Economy is Recovering TOKYO (MNI) - The Japanese government on Friday upgraded its overall assessment of the economy, saying that Japan's economy has been picking up steadily and the ...

Japan govt upgrades economic assessment in June. 1st time in 3 months

Posted:

Economy picking up, foundation being laid for self-sustaining recovery Beating deflation top priority, to continue working with BOJ Expects BOJ to deliver utmost efforts to end deflation Upgrades capital spending assessment, 1st time in 3 months Capital spending has bottomed out Keeps cautious view on downside risks from Europe, overseas economies USD/JPY touch lower in early ...

EUR/USD very marginally firmer in subdued Asian trade

Posted:

EUR/USD has traded very marginally firmer in slow Asian trade, presently up at 1.2400 from a North American close Thursday around 1.2380.  Little on the euro zone economic data front today to whet the appetite, strictly second tier fare: 06:00 GMT: German producer prices for May expected +0.1% m/m, +0.8% y/y 06:45 GMT: ...

Wishing you all a pleasant weekend

Posted:

It's been a pretty sad trading week here in Asia, with the last three days almost motionless so I'm not sad it's over. Let's hope for better things next week. I'm persevering with long EUR/CHF and EUR/AUD strategies and I'm hoping for an exhaustive rally to .8900/50 in the AUD/USD ...

ForexLive Asian market wrap: another quiet session to close the week

Posted:

Japan PM vowing stricter fiscal management Latest BoJ minutes still warn of downside risks China says G20 not the place to debate Chinese currency policy Japan FinMin: Yuan policy is China's decision alone China FinMin: China does not pursue large trade surpluses Regional markets gain around 0.5% Another very quiet session to round off the week. ...

EUR/USD back above 1.2400, orders looming

Posted:

Plentiful sell orders it seems between 1.2430/50 but yet again we're hearing of trailing stops tight above there. In fact these stops could be quite heavy so be careful on breaks above 1.2450, 1.2500 and 1.2525 I'm told. Stop-loss sell orders below 1.2330 but mixed in with bids which are more ...
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