Aug 10, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Norges Bank To Hold Key Rate At 2.0% On Wednesday

Posted:

--Analysts Look For Pointers On Timing Of First Hike BRUSSELS (MNI) - Norway's central bank is expected to leave its key policy rate unchanged at 2.0% when it holds its next monetary policy meeting on Wednesday, and the market will likely focus on the accompanying statement ...

Sterling struggling to make any headway

Posted:

A miniscule rally after the better than expected data has now been reversed and it looks like lots of recent GBP longs are bailing out ahead of the double-event risk; FOMC today and MPC tomorrow. EUR/GBP saw some heavy turnover at .8340 and has traded to a high of .8342 thus ...

DCLG: UK June House Prices Unch M/M; +9.9% Y/Y

Posted:

LONDON (MNI) - UK house prices were unchanged on the month in June and higher by 9.9% on June 2009, the Department of Communities and Local Government said today. The DCLG said that UK house prices rose by 0.8% in ...

UK Analysis: Rising Exports Help To Cut June Trade Deficit

Posted:

--Jun global goods deficit Stg7.401bn vs Stg8.028bn in May --Jun global goods/services deficit Stg3.26bn vs Stg3.818bn in May --Jun global goods deficit ex oil/erratics Stg6.92bn vs Stg7.278bn May --Jun global goods deficit median forecast Stg7.8bn; total Stg3.7bn LONDON (MNI) -- The UK's trade deficit narrowed in June to the ...

Germany Sets 0.75% Coupon On New 2Y Note;To Sell E7 Bn Aug 11

Posted:

FRANKFURT (MNI) - The German federal government set a 0.75% coupon on the E7 billion in new 2-year notes (Schatzanweisungen) that it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 09:00 GMT Wednesday, August 11 with ...

UK June trade balance -GBP7.4 billion

Posted:

This is slightly better than expected and the smallest deficit since February, but its still a sizeable deficit. Cable is more or less unchanged at 1.5815 and EUR/GBP is also unmoved at .8335.

Bank of England to overhaul it’s forecasting model

Posted:

The Telegraph is reporting that after some large revisions recently, the economic forcasting model used by the Bank of England is to be overhauled. The old system based around a chat, 3 pints and a packet of crisps down the local in Threadneedle St. is obviously deemed old school.

UK PRESS: BOE To Overhaul Forecast Model – Daily Telegraph

Posted:

LONDON - The Bank of England is to spend stg3.5 million on overhauling its forecasting model following a series of large revisions to its past projections for inflation and growth, according to a report in The Daily Telegraph. The ...

EUR/JPY technicals: Buying dips to 111.80 favoured strategy

Posted:

The 61.8% retracement of the 110/114.70 move comes in at 111.80 which is also approximately where two previous lows reside. The trendline drawn off the 107.30 low comes in at approximately the same level. Certainly worth watching for the technical traders out there.

JPY crosses fall back on lack of concrete BoJ steps

Posted:

EUR/JPY has fallen back from 113.15 to 112.90 after the BoJ Governor's comments failed to convince the market.

ECB Stark:Mon/Cred Devels Don’t Show Dwnward Infl Risks:Press

Posted:

FRANKFURT (MNI) - Current monetary and credit developments do not indicate downward risks to inflation, European Central Bank Executive Board member Juergen Stark said Tuesday. Inflationary pressures remain "limited" in the medium term, the central banker wrote in an essay ...

Differing sentiment could be slightly bullish EUR/GBP

Posted:

There has been talk in the market over the last 36 hours of a decent sized offer in EUR/GBP around .8340. The slight improvement in ECB sentiment and the expected gloomy forecast from the MPC should be a set up for a bullish EUR/GBP play. Although I'd wait first to see ...

BoJ Shirakawa: No Central Bank in developed nations targets FX levels

Posted:

The BoJ Governor is being quoted extensively on the newswires

EUR/USD order board: Favours a 1.3100/1.3250 trading range

Posted:

Solid bids between 1.3100/20 including an Asian central bank. Some stops also noted just below 1.3100 but again the bids start to dominate in the 1.3050/70 region. Offers flooded into the Asian market this morning at the 1.3250 level and that was enough to spook many into selling. These offers are ...

Asia finally moves; best I stay away more often

Posted:

Apologies to the European FX market but I'm bringing the kiss of death; every session I turn up at recently immediately screams to an abrupt trading halt. Let's hope for a change of luck. Gerry will be on board in a few hours and I'm in day trading mood! Lets get those ...

Orban Bets Hungary Isn’t Next Greece in Budget Battle With IMF

Posted:

Bloomberg article

ECB’s Stark…..

Posted:

Inflation pressure is limited in medium term Currently have very accommodative monetary stance

Nikkei Closes 9551.05 down 0.22%

Posted:

Market subdued in early europe, the dollar is a little easier off the earlier highs. This week culminates in Japanese peak summer holiday week and trading ( into early next week) may be thinner and more exaggerated

Malaysia’s Industrial Production Growth Climbs at Slowest Pace in 4 Months

Posted:

We are possibly starting to see a few signs that the strength of the Asian economies may be slowing a little

Medium Term Reval for the Yuan – former PBOC, Fan Gang, via Reuters

Posted:

The Chinese yuan is gradually appreciating but could see bigger movement in the medium term, a former Chinese central bank adviser said on Tuesday.    "Between 2005 and 2008, in three years, the renminbi revalued 22 percent, so a gradual approach doesn't mean a small move," said National Economic Research Institute ...
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