Your forexlive.com ENewsletter |  |
- ForexLive US wrap-up: Asset markets improve after Bernanke
- Emergency BOJ meeting next week: Reuters
- One way traffic as bond futures get set to close
- Nafta in a panic
- You want music? We got music!
- It’s always darkest before the dawn…
- USD/JPY rally reaches 85.46; exporters selling
- Jackson Hole Paper: Econ Apt to See Further Drop in Inflat
- USD/JPY tests trendline before stall
- ECB’s Weber:Not Much Concern Re A European’Renewed Recession’
- Bond yields continue to surge
- Jackson Hole Paper: Fed Should Pay More Attention to Credit
- China already lining up EUR/USD offers
- Weber: Not much concern for European recession
- Weber to be interviewed on CNBC shortly
- Bernanke: Prepared For More QE ‘If It Proves Necessary’ -2
- Bernanke: Prepared For More QE ‘If It Proves Necessary’
- EUR/USD takes flight, triggers stops
- Canada’s fiscal deficit shrinks
- Markets trading like New England weather
| ForexLive US wrap-up: Asset markets improve after Bernanke Posted: Bernanke blazes no new monetary trails in his Jackson Hole speech; markets breath a sign of relief. Fed stands ready to easy further but only if economy slows significantly; Bernanke, Fed staff less fearful on growth than Wall St. US GDP revised down to 1.6% in Q2; smaller downward revision than expected. Reuters, ...    |
| Emergency BOJ meeting next week: Reuters Posted: Reuters piles on the talk that there will be an emergency BOJ meeting next week when the Governor returns from the Jackson Hole conference. Increasing the size of the supply of JPY loans to the market at 0.1%, presently capped at JPY 20 trln is the most likely route the BOJ ...  |
| One way traffic as bond futures get set to close Posted: US bond yields are going to close at their highest yields for the week, looks like. We're now at 2.66% with less than 10 minutes left in floor trading. USD/JPY has absorbed heavy sales in the 85.40s but has not pulled back very far. it trades now at 85.38.  |
| Posted: Yesterday it was the Canadians fretting over US growth. Today the Mexicans are at it... Mexican central banker Carstens, an attendee of the Fed symposium in Jackson Hole, tells Reuters that the faltering US recovery is a threat to the Mexican economy. Ya don't say...  |
| Posted: This sums it up for the week...  |
| It’s always darkest before the dawn… Posted: "The US economy remains almost comatose. The slump already ranks as the longest period of sustained weakness since the Depression. The economy is staggering under many "structural" burdens, as opposed to familiar "cyclical" problems. The structural faults represent once-in-a-lifetime dislocations that will take years to work out. Among them: the job drought; the debt hangover; the banking ...  |
| USD/JPY rally reaches 85.46; exporters selling Posted: Japanese exporters are taking advantage of the bounce in USD/JPY to set hedges at much lore favorable levels than they endure earlier this week. The buck is nearly 2 yen above the 86.61 lows set on Tuesday. The offers are said to be thick through the 85.50 level with stops perched ...  |
| Jackson Hole Paper: Econ Apt to See Further Drop in Inflat Posted: By Steven K. Beckner JACKSON HOLE, Wyo. (MNI) - The U.S. economy is apt to experience further disinflation, though not outright deflation in coming quarters, according to an analysis presented to an array of Federal Reserve officials and other central bankers here Friday. ...  |
| USD/JPY tests trendline before stall Posted: USD/JPY took advantage of the surge in US bond yields to rally to its highest levels of the week (in New York) of 85.39. With daily downtrend resistance at 85.37 and change, we'll consider this a good test of downtrend resistance. Additional resistance comes in at 89.53, the 20-day moving ...  |
| ECB’s Weber:Not Much Concern Re A European’Renewed Recession’ Posted: By Yali N'Diaye WASHINGTON (MNI) - Although European growth is likely to fade and become "moderate" going forward, there is "not much concern" it could experience a double-dip recession, European Central Bank Governing Council member Axel Weber said Friday. In an ...  |
| Posted: USD/JPY continues to garner support on two related fronts: a strong rise in US bond yields (10s now yield 2.64% from 2.42% on Tuesday) and a fall in risk aversion. Equities are up 1.25% and commodities are up 0.9%. It's sort of the best of both worlds for the market today ...  |
| Jackson Hole Paper: Fed Should Pay More Attention to Credit Posted: By Steven K. Beckner JACKSON HOLE, Wyo. (MNI) - The Federal Reserve should consider paying more attention to credit growth and less to inflation forecasts in setting monetary policy, according to a research paper presented Friday to the Kansas City Federal Reserve Bank's annual symposium. ...  |
| China already lining up EUR/USD offers Posted: traders report that the Big Panda, a buyer earlier today below 1.2700, is leaving offers above 1.2800. Guess he wants to books some quick profits if the market gets directional in thin Friday trade. Sellers are seen in the 1.2800/25 area while a clutch of stop-loss buy orders lie up at ...  |
| Weber: Not much concern for European recession Posted: Recovery on track but growth will be slower than Q2 for Europe. Europe bordering on self-sustaining recovery Labor market performance in Germany very strong Too early to say sovereign debt crisis in Europe behind us, though stabilized Refuses comment on monetary policy as in blackout period before September meeting Good crisis management does not distort ...  |
| Weber to be interviewed on CNBC shortly Posted: Bundesbank president and erstwhile successor to ECB chief Jean Claude Trichet Axel Weber will be interviewed from Jackson Hole in about 10-minutes. Weber is not much of a fan of bond-buying, so it will be interesting to listen to his comments as spreads in the euro zone indicate that creditworthiness of ...  |
| Bernanke: Prepared For More QE ‘If It Proves Necessary’ -2 Posted: By Steven K. Beckner The third option would be for the FOMC to cut the IOER from 25 basis points or even zero to try to "provide banks with an incentive to increase their lending to nonfinancial borrowers or to participants in short-term money markets, reducing ...  |
| Bernanke: Prepared For More QE ‘If It Proves Necessary’ Posted: By Steven K. Beckner JACKSON HOLE, Wyo. (MNI) - Federal Reserve Chairman Ben Bernanke made clear Friday that the Fed is prepared to resort to more "unconventional" monetary stimulus, including additional purchases of long-term securities, to avoid a "significant" further weakening of the economy or further ...  |
| EUR/USD takes flight, triggers stops Posted: Risk aversion is a thing of the past as US equities rally a percent and commodities reverse losses. EUR/USD surged to trigger stops above the 1.2760 level and rallied as far as 1.2776 before stalling. Also of note is talk of massive AUD buying for the just-passed 15:00 GMT fixing. AUD ...  |
| Canada’s fiscal deficit shrinks Posted: The April-June deficit fell to -C$7.23 bln from -C$12.5 bln a year ago. The June deficit was C$ 2.8 bln verus C$ 5 bln a year ago.  |
| Markets trading like New England weather Posted: The old saying is that if you don't like the weather in New England, just wait five minutes... Same can be said for commodity currencies today. They were initially hammered following the Bernanke speech as risk aversion rose and the market displayed its disappointment that the Fed chief outlined no new ...  |
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