Jun 30, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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DIW Institute Sees Germany’s GDP +1.9% In 2010, +1.7% In 2011

Posted:

BERLIN (MNI) - The DIW economic research institute on Wednesday raised its forecast for German GDP growth this year and lowered it for next year. The Berlin-based institute now sees GDP growth of 1.9% in 2010 and 1.7% in 2011. ...

Analysis: Eurozone HICP Weaker Than Expected in June

Posted:

June HICP flash: +1.4% y/y MNI survey median: +1.5% y/y MNI survey range: +1.4% to +1.6% y/y Previous: May +1.6%, Apr +1.5%, Mar +1.4%, Feb +0.9%, Jan +1.0% -- FRANKFURT (MNI) - Eurozone inflation slowed more than ...

Update:Germany’s June SA Unemployment Fell Less Than Expected

Posted:

--Adds Comment from BA Head Frank-Juergen Weise in Paragraph 5 SA Unemployment: -21k (pan), -14k (west), -7k (east) MNI survey median: -30,000 m/m MNI survey range: -50,000 to -10,000 m/m FRANKFURT (MNI) - Germany's labor market continued its recovery in June, as an additional 21,000 people left the jobless ...

Update: BOE Posen: UK Faces Recession/Recovery Policy Dilemma

Posted:

--Adds Detail To Version Transmitted At 0805 GMT --BOE Posen: Only Too Happy To Vote for Rate Hike if Justified --BOE Posen: Confident Tighter Policy Would End Inflation Creep --BOE Posen: Monetary Policy Set to Avoid Recession Too Loose If Works --BOE Posen: Not Confident UK Economy Outturn Will be Favorable ...

UK transport union RMT’s Bob Crow calls for generalised strike action

Posted:

Deep joy.   EUR/GBP edges slightly higher, presently at .8130.

German Federal Labour Office chief: Chance German unemployment will be below 3 mln by year’s end

Posted:

Labour market situation is better than feared, but still uncertain Economy good in Q2, but shadow over 2011

BOE’s Posen: Inflation has been rising in UK despite deflationary pressures

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Difficult to attribute rise in inflation to one-off factors Inflation creep is result of policy being set too loose to prevent downside risks UK is poised between 2 outcomes given coming austerity in Europe, recovery outside Happy to raise rates if get to positive outcomde Not confident we'll get to that favourable situation, outlook ...

ECB Text: Covered Bond Purchase Programme Completed

Posted:

FRANKFURT (MNI)- The following is the text of a press release issued today by the European Central Bank: On 7 May 2009 the Governing Council of the European Central Bank (ECB) decided on the Covered Bond Purchase Programme (CBPP), the ...

BOE Posen: Policy Dilemma With UK Between Recession, Recovery

Posted:

BOE Posen: Only Too Happy To Vote for Rate Hike if Justified BOE Posen: Confident Tighter Policy Would End Inflation Creep BOE Posen: Monetary Policy Set to Avoid Recession Too Loose If It Works BOE Posen: Not Confident UK Economy Outturn Will be Favorable BOE Posen: Some Key Determinants for ...

ECB says covered bond program completed

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Plans to hold bonds till maturity

Stress tests may shed light on German Landesbanken “black hole”

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Bloomberg article.

Germany’s SA Unemployment Fell Less Than Expected In June

Posted:

SA Unemployment: -21k (pan), -14k (west), -7k (east) MNI survey median: -30,000 m/m MNI survey range: -50,000 to -10,000 m/m FRANKFURT (MNI) - Germany's labor market continued its recovery in June, as an additional 21,000 people left the jobless rolls, the Federal Labor Agency said Wednesday. ...

German June unemployment change -21k m/m to 3.23 mln

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Compared to median forecast of -25k.  Unemployment steady at 7.7%, as expected.

Italy June business morale index slips to 96.1

Posted:

From revised 96.4 in May, but better than median forecast of 95.9.

ECB: E60.486 Bln Covered Bond Purchases Settled Jun 29

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E60.486 billion Eurosystem covered bond purchases had settled as of June 29. As of June 28, settled acquisitions had totaled E60.205 billion, the ECB said Tuesday. The ...

ECB Mersch: Recovery Uneven Across Time, Sectors, Countries

Posted:

ROME (MNI) - The economic recovery will be uneven, but it is underway, European Central Bank Governing Council member Yves Mersch said on the sidelines of a conference here Wednesday. Asked about the progress of the economy, Mersch told reporters: ...

Japan Govt Official: Want To Beat Deflation In FY 2011

Posted:

TOKYO (MNI) - A senior Japanese government official said Wednesday that the government wants to overcome deflation in fiscal 2011 starting in April 2011. "Beating deflation remains the biggest issue for the government led by Prime Minister Naoto Kan. We ...

Japan Strategy Minister Arai: Recognise BOJ making great effort together with govt to beat deflation

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Even after deflation is overcome, hope to continue talks with BOJ Worried about stock price falls, will keep watch Want end to deflation in fiscal 2011/12 Japan not yet in self-sustaining economic recovery Yen's rise seems to reflect U.S. economy's moves, Europe's share falls Hard to tell how long yen's strength will continue Hope to set ...

Being reported England football teams’ proposed sponsership deal..

Posted:

Of £50 mln from a large pet food company has been withdrawn. A senior spokesman from Winalot refused to comment.

EUR/CHF firmer

Posted:

EUR/CHF up at 1.3260 from early 1.3210.  Move comes as Hungary official says government plans loan deal with IMF.  Large German name seen buying the cross.
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