Jul 2, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Analysis: Eurozone Jobless Rate Stable Again In May At 10%

Posted:

May: 10.0% MNI survey median: 10.1% MNI survey range: 10.0% to 10.1% Previous: 10.0% Apr (10.1%), 10.0% Mar, 9.9% Feb, 9.9% Jan, 9.9% Dec PARIS (MNI) - Much as expected, the ...

UK Construction PMI 58.4 cf Expectation 58.6

Posted:

Apologies I missed the announcement earlier...getting used to new tools...my excuse... Slightly lower than expectation and no impact on the market especially on such a day as NFP day

CIPS: UK Construction Keeps Up Expansion Pace; Wary On Hiring

Posted:

--June CIPS Construction Index 58.4 Vs 58.5 In May ...

And there it was…and there it is now – CHF

Posted:

Not a bad call for a quiet morning although I say so myself. Through 1.0625, after whipping down a couple of times to 1.0580s, to a high of 1.0698, and the Eur/Chf up at 1.3343 after a high of 1.3363..... I feel there's more to go; meanwhile the non-swissy players are ...

Who Remembers Dubai World

Posted:

It's been a while but before Greece there was Dubai World ! I was talking to a close friend and man 'in the know' at the weekend ( Middle-East based) and he mentioned that the wash-up ( those words again !) is likely to be a haircut of 15-20% for ...

Germany Confirms To Sell E5 Bln New 6-Month Bubills Jul 12

Posted:

FRANKFURT (MNI) - The German federal government will sell E5 billion in new 6-month bubills, the Bundesbank confirmed Friday. The formal tender offer will be made on Friday, July 9. Bids are due by 0900 GMT on Monday, July 12, ...

EU’s Rehn: Greece Needs No Debt Restructuring; Won’t Exit EMU

Posted:

FRANKFURT (MNI) - Greece has no need to restructure its debt or withdraw from the Eurozone, the European commissioner for economics and finance said in an interview published Friday. While Olli Rehn did not rule out in principle the creation ...

ECB: E61.082 Bln Covered Bond Purchases Settled Jul 1

Posted:

FRANKFURT (MNI) - The European Central Bank said Friday that a total of E61.082 billion Eurosystem covered bond purchases had settled as of July 1. As of June 30, settled acquisitions had totaled E61.144 billion, the ECB said Thursday. ...

BP Criminal Case in Oil Spill May Be Inevitable

Posted:

I missed this yesterday and I guess it was going to be inevitable but BP may suffer further in the wash-up ( no pun intended ) of the oil spill calamity. It's going to drag on a long time but share-price/ shareholders/pension fund holders all going to be unhappy vegemites. ...

Early Whips Particularly CHF and EUR/CHF

Posted:

After a narrow range in Asia early players have pushed the above-mentioned around a little ...probably taking out a few weak longs ( including mine in Eur/Chf ! I think if the Swissy can get above 1.0625 and hold we may see some short covering

Skeletons in The Odd Closet

Posted:

From WSJ - A German Central Banker has commented that central banks cannot force banks under their jurisdiction to comply with demands for full transparency. The report suggests some banks seem to have dug their heels and maintained their legal right against publishing confidential data. Perhaps there may be a few more skeletons/financial problems ...

Care Required Methinks

Posted:

A huge night and a quiet Asian session. The market obviously will be wanting to jump on a bad NFPs result; however with the last few days mayhem, the summer establishing itself and forthcoming reporting season imminent I feel that caution is needed. It wouldn't surprise me to see a ...

Good Morning All

Posted:

Today's Calender UK Construction PMI   Expected 58.6   Last 58.5 Eurozone Unemployment  Expected 10.1 unch  Last 10.1 Eur PPI  m/m Expected 0.3  Last 0.9 Italian Monthly Unemployment Expected 8.9  Last Revised to 8.7 from 8.9 Then the Biggie NFP etc on Gerry or Jamie's watch Unlikely the Eurozone numbers will have much effect with all ...

BIS’ Caruana: Risks For Banks If Cbank Rates Too Low Too Long

Posted:

FRANKFURT (MNI) - Central banks must be ready to hike interest rates before price stability is jeopardized if banks become excessively dependent on cheap short-term financing, the general director of the Bank for International Settlements (BIS) argued in an interview published Friday. ...

A pleasant weekend to one and all

Posted:

I wish you all the best of luck tonight in the NFP lottery and don't be betting the farm on red! I'll leave you in Dave's capable hands. See you Monday.

Quick look at the order board

Posted:

Cable: Sovereign offers 1.5250/80 (unconfirmed rumours that Sovereign offers also at 1.5200) AUD/USD: heavy offers around .8550 USD/JPY: talk overnight of BoJ checking rates on approach to 87.00 EUR/USD: Sovereign offers reported starting at 1.2610 through 1.2660. Rumours of very large stops above 1.2650 and again above 1.2700

While We Are Standing Around

Posted:

waiting for the NFP ...there's more standing room here on Ryan Air.....as Gerry might say @who would have thunk it ?!' An Irish push for marginal cost business from the airline that was going to give you PAYG toilet facilities.....Canny entrepreneurs the Irish, eh Sean ?

European traders, time to vote in NFP guessing contest

Posted:

You know the drill, click on this link and put in your best guess (that hasn't been already taken). For your info, median forecasts suggest a number around -125k/-130k with extreme professional forecasts at +50k and -200k.

Come on Zurich, we’re waiting for you

Posted:

Gerry has a few hours off this morning as he moves into his new palatial dwelling. I'll keep things ticking for a while and then Dave will jump in the hot seat. Zurich and Geneva are usually the first European financial centres to fire up their screens so lets hope they ...

ForexLive Asian markt wrap: quiet after big overnight moves

Posted:

Asia has consolidated the big overnight moves with most of the majors trading in 30 pip ranges The AUD rallies as details of the new mining tax agreement emerge German banks considered safe in EU bank stress test Regional stockmarkets flat, oil and gold consolidate overnight losses Asia has had a very quiet session ...

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