Aug 26, 2010

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Your forexlive.com ENewsletter

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Japan ruling party policy chief Gemba: Govt should consider extra budget for this fiscal year

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Party panel discussed forex intervention Shut up!!, shut up!! , shut up!! Put up, or shut up!! Sheesh................ USD/JPY slightly easier at 84.55.

EUR/USD slips back below 1.2700

Posted:

Presently at 1.2690. Talk Eastern European notable seller of pairing in recent trade.  Could be Russia maybe. Russia's in Eastern Europe last time I checked. Got to think euro bears going to be little wary of running into renewed buy interest from the Giant Panda, having gotten caught on the wrong foot ...

EMU July M3 Up 0.2% y/y, Private Loans Up A Strong 0.9% y/y

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July sa M3: +0.2% y/y M3 sa 3-mo avg: +0.1% y/y SA private loans: +0.9% y/y MNI survey median: May sa M3 +0.3% y/y M3 sa 3-mo avg: ...

Japan vice FinMin Ikeda: Rapid yen rise undesireable for Japan economy

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As much about the speed as the level.  What I keep saying.  I always chuckle when I hear people talking about the Japanese authorities drawing a line in the sand.  If it goes to 82.00 they'll intervene. Cobblers. We sit sedately at 84.70. Wants BOJ to make utmost efforts to support economy Expects ...

That’ll teach me to be a doubting Thomas

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Guess the talk of rhs interest for cable at the fix was on the money.  Cable back up at 1.5555. Well I never.

Germany Bank Assn:Recovery To Slow, But No Recession Expected

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BERLIN (MNI) - Germany's economic recovery will slow but a renewed recession is not to be expected, the German Bank Association (BDB) said in its latest monthly report, released Thursday. "It is obvious that the recovery in Germany will not ...

Italy Aug consumer confidence index falls to 104.1

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From 105.5 in July, weaker than median forecast of 105.2 and lowest read since March 2009. The stark contrast between German and Italian consumer confidence is striking.

EUR/GBP touch firmer; sell orders, stops noted

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EUR/GBP up at .8185 from early .8170.  Talk of sell orders lined up at .8195/00, buy stops just above there.

Cable slips back slightly

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Amid reports of a major Swiss commercial bank selling on behalf of leveraged account. We're presently at 1.5550. UPDATE:  Cable sell-off extends to 1.5535 at writing. But there is talk of buy interest lined up for 09:00 fix (08:00 GMT).  I'm always a little wary of any fix talk I hear, but ...

It would appear………

Posted:

China has been buyer of EUR/USD this morning. I did hear very vague mutterings of an Asian sovereign buying on the dip below 1.2700 but couldn't get any real confirmation. I'm now getting reports somewhat belatedly that it was China buying. EUR/USD presently at 1.2735. Getting reports of sell orders layered ...

You know the Danish buyer of USD/JPY I mentioned yesterday…..

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The one who brought home the bacon. Sorry, Couldn't resist it. Well getting reports the bank is again buying USD/JPY this morning. Persistent sort, hey what.  We're unchanged on the day though at 84.75.

Dublin: Canadian FinMin Flaherty says overall this year Canada to have around 3% real GDP growth

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In some Western countries we need to get used to period of modest growth of 2-3%, perhaps modestly higher Asked if weakness in US econ data a cobncern says "sure", cites Canada's relaince on exports to US Ireland has "sold" bank plan, has led EU in courageous fiscal reform decisions Asked on S&P ...

Euro bulls find stops

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Finally. We've spiked to 1.2746.  Earlier was getting reports of sell orders up at 1.2750/60.

Cable holding up so far

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Despite a US hedge fund selling around earlier 1.5579 high.  We're presently at 1.5570.   Trying to find where buy stops lurking incase aforementioned 1.5580/00 sell orders dont hold the line.  The August 23 high is at 1.5620, so maybe they're parked up around there.

Being told…

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BIS seen on both sides of the EUR/USD market.  But haven't got any specific buy levels. We're presently at 1.2705 having briefly dipped below 1.2700.

Well…..

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If BIS was happy to sell around 1.2720, Im sure they've availed themself of the better levels afforded them by the German data spike.  We've been to 1.2734 back down at 1.2710 presently.  I wonder where the buy stops above 1.2730 are? I noticed Sean opining that there's probably decent stops ...

German Gfk September consumer sentiment indicator up at 4.1

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versus 4.0 in August. Better than median forecast of 4.0.

BIS on the offer up at 1.2720

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Infact 1.2721 to be precise.

Cable opens appreciably firmer

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Cable up at 1.5550 from North American close Wednesday down around 1.5455, with buy stops above 1.5500 having been found and tripped. We've been as high as 1.5563 overnight.   The pairing was given decent support yesterday when various sovereigns turned up buying down around 1.5400. Another thing I was told yesterday but ...

EUR/USD opens little firmer

Posted:

EUR/USD sits at 1.2705, up from North American close Wednesday around 1.2655.  Recent strong risk aversion seems to have abated a  little. European stocks look set to open firmer; FTSE 100 up around 0.9%, DAX 30 up around +0.8% and CAC 40 up around 1.1%. That said,  EUR/USD remains ensconsed in well-trodden ...
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