Jun 28, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

EMU May M3 Continues Yearly Fall,Private Loans Still Growing

Posted:

May sa M3: -0.2% y/y M3 sa 3-mo avg: -0.2% y/y SA private loans: +0.2% y/y MNI survey median: May sa M3 +0.4% y/y M3 sa 3-mo avg: ...

ECB Tumpel-Gugerell:Bank Taxes Should Be Globally Coordinated

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PARIS (MNI) - Taxes on banks to help cover the risks created by their activities will work if they are coordinated at an international level, European Central Bank Executive Board member Gertrude Tumpel-Gugerell said in the text of a speech for delivery Monday at a ...

With no new news, EUR/USD just seems to be following stocks

Posted:

Not going anywhere fast at the moment. EUR/USD sits at 1.2375, exactly where it was about 4 hours ago, going nowhere fast at the start of the new week. The pairing just seems to be following the gyrations of European stocks which are back in positive territory as I type ...

Germany: Brandenburg June CPI +0.1% M/M, Hesse Flat M/M

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Hesse CPI June: +0.1% m/m, +0.8% y/y May: flat m/m, +0.8% y/y --- Brandenburg CPI June: ...

European stocks having opened firmer, slip back

Posted:

Oil off about half a buck.  Risk sentiment a little wobbly. Helping cap rallies in likes of EUR/USD, GBP/USD and AUD/USD at present.

EUR/USD struggling so far to build on recent gains; stops noted

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EUR/USD sits at 1.2357, struggling to build on recent gains. Sources report stops gathered through 1.2340.

ECB: E59.872 Bln Covered Bond Purchases Settled Jun 27

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FRANKFURT (MNI) - The European Central Bank said Monday that a total of E59.872 billion Eurosystem covered bond purchases had settled as of June 27. As of June 24, settled acquisitions had totaled E59.549 billion, the ECB said Friday. The ...

Cable holding up well

Posted:

Cable sits at 1.5055, pretty much where it closed out Friday in North America.  There is talk in the market that a UK clearer needs to buy cable today for dividend payment purposes. Effect is not thought likely to be overly large, but may well be helping underpin the pairing in recent ...

England football team’s flight home has been diverted to Glasgow…

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Where they are expected to receive a hero's welcome.

EUR/USD slips slightly in slow start to European trade

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EUR/USD down slightly in early Euriopean trade, presently at 1.2360, with reports of decent eastern european selling above 1.2370.

For those with interest in AUD/USD, just reading…

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Dow Jones piece. Westpac recommending selling AUD/USD in high .8700's/low. 8800's region, "represents good risk reward at start of Q3." Downside target .8400, stop just above .8900, which covers 61.8% retracement level of the high .9300 to .8000 downside move. Westpac say "market is not recognising the potential for a further slowing ...

SNB’s Danthine: Deflationary trends have practically disappeared

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SNB can be satisfied with results of its monetary policy Resistance of Swiss exports to strong franc is pleasing SNB will step in to prevent an appreciation of the franc should deflationary dangers reappear EUR/CHF continues lower, presently at 1.3515 from North American close Friday up around 1.3550.

EUR/USD very steady in Asian trade

Posted:

EUR/USD sits at 1.2380, effectively unchanged from North America's close Friday, Asian trade confined to narrow 1.2369-1.2397 range. Little in way of euro zone data today: German CPI for June (prov) expected +0.1% m/m, +1.0% y/y 08:00 GMT: Euro zone M3 money supply for May expected flat (3m), +0.3% y/y European stocks set to ...

Moody’s: Views Japan’s fiscal plan with a “positive nuance”

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Downward pressure on Japan rating may mount if fiscal plan not followed Lack of fiscal discipline, double dip in world economy may cause such pressure USD/JPY sits at 89.40 unchanged from Friday's North American close.  Buy orders said to lie down at 89.00/20 stops through 88.95. Sell orders 89.90/00, stops just above. Option ...

ForexLive Asian market wrap: quiet markets post-G20

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G20 agrees to tackle deficits once global economic recovery is established Bank rules delayed to safeguard recovery China requests that all references to Yuan be omitted from final communique Japanese retail sales growth slows, -2% MoM still +2.8%, YoY UK economy: house price growth slows in June Compromise still likely on Australian mining tax; new ...

Articles such as this will certainly undermine confidence in the USD

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This article from the FT online looks at the terrible budget situation facing communities, especially in debt-ravaged states like California.

Australian economy: mining tax compromise likely to be blocked

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The new Australian PM Julia Gillard seems keen to reach a compromise on the proposed new super-profits tax with the mining industry but any compromise is likely to be defeated in the Senate by the Greens.

Hedge funds agree that EUR/USD might be basing

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This Bloomberg article reports on a number of hedge funds that have been bearish on the EUR but, whilst remaining cautious, feel that it may have fallen enough for now.

Quick look at the order books

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USD/JPY: bids seen ahead of 89.00 with heavy stops below AUD/USD: trailing stops touted above .8780; hedge fund selling seen .8850/80; option buyers on stop above .8900. Downside also sees trailing stops below .8700. EUR/USD: solid sell orders around 1.2400, stops directly above 1.2410, 1.2420 and 1.2435. Sell orders re-emerge 1.2450/65. Rumoured ...

Around the markets: stockmarkets slightly lower

Posted:

The Nikkei is -0.4%, the All Ords in Australia is -0.8% whilst the Kospi is flat and HK is expected to open flat. Gold is steady at $1258/oz and oil is trading at $78.60/bbl.
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