Sep 2, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Analysis: Eurozone PPI Rise Fueled Again by Energy in July

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Industry producer prices excluding construction: July: +0.2% m/m, +4.0% y/y MNI survey median: +0.3% m/m, +3.7% y/y MNI survey range: -0.3% to +0.3% m/m June: +0.3% m/m, ...

CIPS: UK Construction Growth Slows; Employment Level Falls

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--Aug CIPS Construction Index 52.1 Vs 54.1 In July ...

Cable trying to steady after poor construction PMI data

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Up at 1.5390 from session low 1.5375 seen after crappy construction PMI data.  Source reports real money account seen buying in recent trade.

Update: Sweden’s Riksbank Hikes Repo Rate To 0.75% From 0.5%

Posted:

--Leaves Repo Rate Path Unchanged, Sees Rate At 0.9% In 4Q --Update adds analyst comment, more details BRUSSELS (MNI) - Sweden's central bank raised its key policy rate 25 basis points to 0.75% from 0.5% on Thursday, in line with analysts' expectations, but left its forward looking ...

UK construction PMI 52.1 in August

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Versus 54.1 in July.  Much worse than median forecast of 53.2.  It's all coming apart at the seams (that's better) I tell ya!!! I packing my bags and moving to ........Sweden!!! "You can dance, you can jive having the time of your life See that girl, watch that scene, diggin' the dancing queen"

And up and down and up again….

Posted:

EUR/USD back above 1.2800, presently at 1.2805.  Getting reports system funds seen buying in recent trade.  We're not getting very far this morning, are we? Only another 4 hours to go before home time.   4 hours!!! :(

No decision yet on Anglo Irish bank – Government source

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Govt still discussing either gradual wind-down or good bank/bad bank split with EC

EUR/GBP ticking higher; sell orders noted

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Presently at 8310 from early .8280.  Talk sell orders clustered up at .8330/50.

China won’t launch new stimulus but will be wary of exiting from current one – Govt researcher

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China has no need for big economic initiatives, credit growth ample

Sweden’s Riksbank Hikes Key Repo Rate To 0.75% From 0.5%

Posted:

--Leaves Repo Rate Path Unchanged, Sees Rate At 0.9% In 4Q BRUSSELS (MNI) - Sweden's central bank raised its key policy rate 25 basis points to 0.75% from 0.5% on Thursday, in line with analysts' expectations, but left its forward looking rate path unchanged. ...

Norges Bank Gov:Need New Ways To Limit Asset Prices,Not Rates

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BRUSSELS (MNI) - Policy-makers need to find other instruments than interest rates to keep asset prices under control, Norges Bank Governor Svein Gjedrem said, according to the text of a speech released on Thursday. "Interest rate policy targets the inflation ...

Update: BBK Board Unanimously For Ousting Sarrazin: Newspaper

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--Adds Comments From Germany's Federal President and from Sarrazin FRANKFURT (MNI) - The board of Germany's Bundesbank on Wednesday unanimously expressed its desire to see board member Thilo Sarrazin relieved of his position, German daily Berliner Zeitung reported. The newspaper, citing ...

Swedish central bank raises key repo rate to 0.75% from 0.50%

Posted:

As expected. Swedish crown rises vs euro in wake of move. Guess selling of EUR/SEK will be weighing on EUR/USD which is down at 1.2785.  EUR/SEK cross down around 9.3100 from 9.3321 just prior to rate increase announcement.

A brave new World in currencies?

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WSJ's The Source.     Hey, they mention you lot in this article.

Swiss retail sales +4.8% y/y in July

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Stronger than median forecast of 2.3% y/y.

EUR/USD slips back below 1.2800

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With UK clearer seen selling it through the figure. Moody's has cut ERC Ireland Finance (parent of EIRCOM) to B3 from B2, negative outlook. Moody's says downgrade reflects concerns about likelihood of covenant breach in next 12 months. Bad news for Ireland is seemingly never far from the surface.

USD/JPY very steady in early trade

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Presently at 84.16, almost to the pip where it was when I sat down about 3 hours ago. Not for the first time of late, getting reports Danish bank sitting on the bid.  Very persistent.  Weird.

Spain’s August jobless rate rises 61,083

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To 3.97 mln.

EUR/CHF lower

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Down at 1,2965 from early 1.3010, with reports a UK cleaer has been notable seller of the cross this morning. Better than expected Q2 GDP data will have supported swissy.

EUR/USD ticks higher; Asian sovereign buys

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EUR/USD up at 1.2817. Talk Asian sovereign has been notable buyer in recent trade. Talk sell orders 1.2830/50. Probably stops through yesterdays 1.2855 high.
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