Aug 16, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

ECB Stark: EZ Governments on right track to increased growth and revenue

Posted:

Juergen Stark, in an opinion piece in the FT, says that Europe is going through fiscal reform, not fiscal restraint.  This means, he says, that European governments will come out the other end with stronger economies.

EZ CPI data due in 30 minutes

Posted:

Core CPI for the EZ is expected to creep higher to 1% from 0.9% last month. With no change in monetary policy on the horizon, nobody is putting too much emphasis on today's figures.

EUR/CHF leading the way again in early trade

Posted:

EUR/CHF is over 1% lower in the last 3 hours and the flight into the Swiss Franc is showing no sign of abating. Other potential safe-haven trades like the JPY (risk of intervention) or the AUD (election) do not look particularly attractive and hence the flight into the CHF. Sorry, ...

Cable: Same names continue to buy; long/term technicals say buy also

Posted:

This buying was first reported on Thursday last and there has been a lot of accumulating of sterling done by Sovereign names out of Asia and the Middle East since then. Remember that levels around 1.5550 were very important when we had the break lower in March of this year. Interestingly, cable ...

EUR/USD: Technical support holds beautifully

Posted:

The technical support levels I outlined earlier this morning at 1.2735/40 held beautifully and buying dips will now be the technicians trade of choice. At least you know where to put the stop!

Market positioning points to a nervy week for the AUD

Posted:

The latest market positioning data from the CFTC shows AUD longs have almost doubled in the past month. Long AUD, long CAD, and long JPY positions have actually increased in the past week whereas others like EUR and GBP have been pared back. As I said earlier today, I think at ...

ECB Stark: Crisis Has Spurred Serious EMU Fiscal Reform: FT

Posted:

PARIS (MNI) - Eurozone governments have responded to the financial crisis not with fiscal restraint but with a fundamental change in long-term fiscal strategy that will produce more economic growth and increase revenues while cutting national deficits, European Central Bank Executive Board member Juergen Stark ...

Afternoon Asia risk-reversal

Posted:

The Nikkei closure down 0.61%, rcovering most of the days losses and a firm Shanghai Composite up 1.8% has had a positive effect particularly on the AUD which has recouped nearly all losses against USD now at 0.8942 and AUD/JPY at 76.78; EUR/JPY trades 109.96

Australian Dollar Falls to Three-Week Low Before RBA Minutes; N.Z.’s Drops

Posted:

 National Australia Bank predicts the AUD will fall to 86 cents by end-September and the New Zealand's dollar will trade at 71 cents Investors should sell New Zealand's dollar against the Swiss franc as risk aversion is likely to increase according to a recommendation from UBS AG . Their target is 0.7200 See the Bloomberg ...

Quiet Day for Euro Data

Posted:

In three hours Sean will be reporting the only Euro data for the day... EUR CPI YoY  expectation 1.70% after last 1.70% EUR Core CPI YoY expectation 1.00% last at 0.90%

UK – Enjoy the current low gilt yields while you can – that’s if you can

Posted:

From the Telegraph, a taste for value in UK gilts

ForexLive Asian Session Wrap – Nikkei down 1%, leads risk-off sentiment

Posted:

Sakakibara says yen may rise to record against dollar Germany propels growth in Euro Zone Ireland can withstand the euro's ordeal by fire, but can Southern Europe, the latest article from AEP at the UK Telegraph UK Rightmove August House Price Index fall 1.7% MoM It's Official: AgBank celebrates with the Greenshoe Shuffle ! ...

Indonesia’s President SBY on the wires…

Posted:

targetting GDP growth of 7-7.7% in 2014 amending laws to improve infrastructure investment determined to fight corruption, despite resistance committed to reform of the bureaucracy, good governance 2010 census puts population at 237.6m aims to create 10.7m new jobs in the next 4 years

Japan June Tertiary Index -0.1% M/M, 7th Drop In Past 12 Mths

Posted:

-- Japan May Tertiary Index Revised -0.8% M/M Vs Prelim -0.9% -- Japan June Tertiary Index +0.8% Y/Y Vs May Revised +1.2% -- Japan Tertiary Index Posts 5th Y/Y Rise In Row TOKYO (MNI) - Japan's tertiary industry index, which measures spending ...

Call for careful overhaul of US lending

Posted:

The Uk Financial Times reports that Administration officials say that any credible proposal to overhaul the government-sponsored enterprises, as Fannie and Freddie are called, would need to include a "thoughtful approach" to prevent house prices from dipping lower.

Analysis: Japan Q2 GDP Up On Exports, Capex; Spending Sags

Posted:

TOKYO (MNI) - Japan's economy barely grew in April-June for the third straight quarterly gain, backed by strong exports to Europe and a ...

Obama Wins Low Yield as Markets Shrink Aiding Deficit

Posted:

this from Bloomberg

China’s Economy Is Set to Top Japan’s

Posted:

From the Wall Street Journal for those who don't have access

Australia: New Motor Vehicle Sales for July – 2.6% MoM

Posted:

vs June -1.2% Sales fell for the third straight month

Japan Offl: Capex Back Q2 GDP But Yen, Other Risks Looming

Posted:

TOKYO (MNI) - Solid export growth and recovering capex supported Japan's modest economic growth in the April-June quarter but three looming downside risks -- the high yen, a slowdown in overseas economies and fading effects of fiscal stimulus -- are threatening a sustained recovery, a ...
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