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- USD/JPY very marginally firmer
- EUR/USD going nowhere fast. Anyone would think it was Monday
- ECB’s Noyer: Budget Discipline Needed To Calm Market Tensions
- ECB: E58.581 Bln Covered Bond Purchases Settled Jun 18
- ECB’s Noyer: Central banks have been very successful at fulfilling mandate aimed at price stability
- Talk of PBOC intervening buying USD/CNY
- ECB Provopoulos: E440 Bln EU Fund Could Buy ECB Gov Bonds
- Chinese yuan will not be a seperate issue of discussion at G8/G20 meeting in Toronto – Kremlin aide
- Zapatero’s state of denial will be felt far beyond Spain as pain spreads
- ECB’s Provopoulos: Eurosystem is buying securities because it does not consider Greek default a possibility – WSJ
- Germany Fin Min: Federal Tax Revenue Down 0.3% Y/Y In May
- Japan May Department Store Sales -2.1% Y/Y, Down 27 Mo In Row
- S.Korea C.Bank fx authorities spotted buying dlrs to curb won’s strength – dealers
- ECB’s Trichet: Calls for decisive progress in surveillance of governments’ economic policy – Russia Today TV
- ForexLive Asian market wrap: China introduces Yuan flexibility
- Yuan rising against the USD: no sign of central bank intervention
- AUD maintains strength into European open
- Analysts: BOJ Tankan To Show Corp Sentiment To Keep Improving
- Around the markets: regional bourses up over 1.5%
- EUR/CHF: clean break below 1.3730 opens way for further losses
| USD/JPY very marginally firmer Posted: USD/JPY up at 90.95 from early 90.80 in lacklustre trade. Hearing stops through 91.10. Wouldn't think they're huge. EDIT: While not huge, stops seemingly were of fairly decent size. USD/JPY has popped to session high 91.37, presently at 91.30.    |
| EUR/USD going nowhere fast. Anyone would think it was Monday Posted: EUR/USD sits at 1.2428, to the exact pip where it was when I arrived about 4 1/2 hours ago. Hearing Russia and Middle Eastern sovereign buying in recent trade. Funnily enough heard Russian names selling into the early rally. As I've mentioned before Russia known to be aggressive jobber in EUR/USD. UPDATE: ...  |
| ECB’s Noyer: Budget Discipline Needed To Calm Market Tensions Posted: PARIS (MNI) - Ongoing market tensions could impact financial stability and the real economy and can be countered only by attacking the root of markets' worries, namely doubts about the sustainability of public finances in some EMU countries, ECB Governing Council member Christian Noyer said ...  |
| ECB: E58.581 Bln Covered Bond Purchases Settled Jun 18 Posted: FRANKFURT (MNI) - The European Central Bank said Monday that a total of E58.581 billion Eurosystem covered bond purchases had settled as of June 18. As of June 17, settled acquisitions had totaled E58.213 billion, the ECB said Friday. The ...  |
| ECB’s Noyer: Central banks have been very successful at fulfilling mandate aimed at price stability Posted: At no time during crisis have inflation expectations significantly deviated from our definition of price stability Governing council's programme of covered bond purchases is now almost complete Some banks have started facing increasing funding problems Current market uncertainty could have major impact on financial stability, real economy, if left unchecked A condition for market ...  |
| Talk of PBOC intervening buying USD/CNY Posted: Low 6.8015, back presently at 6.8070.  |
| ECB Provopoulos: E440 Bln EU Fund Could Buy ECB Gov Bonds Posted: FRANKFURT (MNI) - European officials should consider allowing the recently created E440 billion European Financial Stability Facility to acquire the government bonds purchased by the European Central Bank through its Securities Markets Program once markets stabilize, ECB Governing Council George Provopoulos said in an interview ...  |
| Chinese yuan will not be a seperate issue of discussion at G8/G20 meeting in Toronto – Kremlin aide Posted: Might not be a seperate issue of discussion, but it'll sure get discussed alot. I was earlier reading a comment by Goldman's Jim O'Neil who has opined that the move to relax yuan's peg to dollar "Is bullish for risky assets. China has become more optimistic about growth and doesn't see ...  |
| Zapatero’s state of denial will be felt far beyond Spain as pain spreads Posted: Irwin Stelzer in the WSJ.  |
| Posted: Stress tests and simulation indicate that Greek banks' capital buffer fully sufficient to cover any erosion of capital base Selling bonds bought by central banks to the euro zone stabilisation fund is an idea worth consideration  |
| Germany Fin Min: Federal Tax Revenue Down 0.3% Y/Y In May Posted: --Tax Revenue Downwardly Distorted By Higher Transfers To EU BERLIN (MNI) - German federal tax revenue fell 0.3% on the year in May, but was distorted to the downside by higher transfers to the EU, the Finance Ministry said in its monthly report released Monday. ...  |
| Japan May Department Store Sales -2.1% Y/Y, Down 27 Mo In Row Posted: TOKYO (MNI) - Department store sales fell 2.1% from a year earlier in May to Y491.2 billion, with the pace of year-on-year declines slowing from the previous month as consumer sentiment improved on the back of recovering corporate profits, the Japanese Department Stores Association said ...  |
| S.Korea C.Bank fx authorities spotted buying dlrs to curb won’s strength – dealers Posted: At some juncture a portion of those dollars will be turned into euros. EUR/USD has extended rally in early European trade, presently at 1.2455.  |
| Posted: Have strong programme in place to help Greece, others Expects Greek rescue programme to work Euro is a very credible currency Price stability remains primary goal EUR/USD trading a little firmer from where it closed out Friday in North American, up at 1.2432 from around 1.2385, with China's move to relax yuan's peg to ...  |
| ForexLive Asian market wrap: China introduces Yuan flexibility Posted: "The recovery and upturn of the Chinese economy has become more solid with the enhanced economic stability. It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility" Exact details of how this new found flexibility will manifest itself remain in ...  |
| Yuan rising against the USD: no sign of central bank intervention Posted: The official mid-rate was left unchanged earlier today but the market is obviously testing the waters by buying the Yuan against the USD to see where the new limits will be. Reuters is reporting a low in USD/CNY so far today at 6.8110 compared with the official rate at 6.8275 ...  |
| AUD maintains strength into European open Posted: It's pointless trying to argue with the market which is insisting on maintaining a bullish tone for the AUD. AUD/USD is again close to its session highs and risk sentiment is definitely on. EUR/USD is also comfortable above 1.2400 and it will be interesting to see what Europe makes of ...  |
| Analysts: BOJ Tankan To Show Corp Sentiment To Keep Improving Posted: TOKYO (MNI) - The Bank of Japan's June Tankan survey will show that the sentiment of major manufacturers continues improving, thanks to increasing exports and production on the back of the recovering economy at home and overseas, especially emerging countries, economists and analysts said. ...  |
| Around the markets: regional bourses up over 1.5% Posted: The Hang Seng index in HK is almost 2% higher in early trade, the Nikkei is +1.5% and Sydney and Seoul are both almost 1% higher. Oil rallied 1.25% after the Chinese announcement improved sentiment regarding global growth prospects and is currently trading at $78.25/bbl. Gold has retreated to its ...  |
| EUR/CHF: clean break below 1.3730 opens way for further losses Posted: I've taken a small loss on my EUR/CHF longs as this is obviously not yet the time to be trying to pick a base. Most technical signals remain bearish but I'm still hearing from the market that the 'clever' money is booking profits so I'm still looking for some indication ...  |
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