Sep 4, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

ForexLive US wrap-up: Mixed data but risk “on”

Posted:

Non-farm payrolls fall 54,000; unemployment rate edges up to 9.6%; private sector adds 67,000 jobs; large upward revisions to prior months. Better than expected Japan's Ozawa:  Japan can use strong Yen to make overseas resource investments ISM non-manufacturing PMI falls to 51.5 in August from 54.3 in July Fed's Lockhart: No appetite at ...

EUR/USD just won’t quit..

Posted:

A late flurry is underway in EUR/USD, no doubt with the holder of the 1.2900 barrier battling it out with his banker. The bank wants to knock out the option to pocket the premium and extinguish their market risk on that particular option. 1.2897 the EBS high so far.

One more appeal

Posted:

With the week drawing to a close, why not take this opportunity to show a little love for ForexLive by opening an account with our sponsor, FXDD.

Coverage over the weekend

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We'll have regular coverage through Asian and European morning but I'll be taking off for Labor Day on Monday as all the financial markets in the US will be closed. Back to full strength come Tuesday!

Dodd-Frank Law Lets SEC Pursue Overseas Credit-Ratings Fraud

Posted:

According to various sources, the U.S. Securities and Exchange Commission (SEC) plans to use new financial laws to pursue credit-rating fraud initiated overseas.  This decision came after SEC dropped a fraud case against Moody's Corp citing uncertainty over its authority to bring the case in the United States.    The SEC's ...

EUR/USD stalls just shy of 1.2900

Posted:

The EBS high was 1.2894, so it does look as so there may be some protection of 1.2900 strikes after all. We've dipped back to the 1.2880 area and that may be the last attempt to push into new ground ahead of the week-end...

ECB Update: Banks, Liquidity Policy Remain Biggest Headache

Posted:

FRANKFURT (MNI) - A spurt of ECB Governing Council member comments following the President Jean-Claude Trichet's press conference on Thursday corroborate the impression he gave that policymakers are more concerned about the health of the banking system than the immediate economic outlook. ...

EUR/USD extends gains; 1.2900 barriers in view

Posted:

There are whispers of  barrier options at the 1.2900 level as that area comes into play. Large offers are starting to surface (there are EUR 250 mln to go at 1.2895 now). Traders also note orders from China to sell beginning at 1.2925 is we break higher... 1.2893 is the high ...

Close above 2.75% could signal bond boom is over

Posted:

The trend toward lower US bond yields (and higher prices) is in serious peril today. Trendline resistance comes in at 2.745% and a break would signal that the next major move for yields is back up. Higher yields tend to be most directly correlated with USD/JPY strength and also tend to ...

Atl Fed Lockhart Q&A:Won’t Rule Out Possible B-Sheet Expansion

Posted:

--Will Take A Long Time To See Improvement In Employment Situation By Brai Odion-Esene JOHNSON CITY, Tn. (MNI) - Atlanta Federal Reserve Bank President Dennis Lockhart Friday would not rule out a possible decision by the Federal Reserve to expand its balance sheet, but said any action ...

Markets settle down; risk still on

Posted:

Risk is less brisk but it is on none the less. US equities are holding some gains, up 0.75% just below 1100 while bond yields are off their highs but still nearly 9 bp higher on the day at 2.72% in the 10-year maturity. Commodity currencies like AUD and CAD are the ...

Global services PMI falls to 53.5 in August from 54.3 in July

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As well, the JP Morgan all-industries PMI dipped to 53.9 in August from 54.6 in July.

Fed’s Lockhart: No appetite at Fed to monetize the debt

Posted:

Atlanta Fed president Lockhart says there is absolutely no appetite at the Fed to monetize the debt. Monetizing debt is when a nation's central bank buys the debt issued by the country's Treasury. Some while argue that the Fed has partially monetized via QE, but in reality its portfolio its Treasury ...

Atl Fed Lockhart Seeks To Counter ‘Alarmist’Sentiment On Econ

Posted:

--Sees 'Exaggerated Sense of Foreboding' --Still Sees Modest Growth, Slow Healing For Economy --Says US Economy In His View Is Experiencing A 'Temporary' Downshift --Aug FOMC Action Does Not Herald Further Expansion Of Fed Bal Sheet By Brai Odion-Esene JOHNSON CITY, Tenn. (MNI) - Atlanta Federal Reserve Bank President Dennis ...

EUR/JPY: I got your double top right HERE

Posted:

We've got a long way to go before a double top pattern is triggered in EUR/JPY but it is worth keeping tabs on...Here's the chart:

Stocks giving it up now

Posted:

Equities held in there for a while after the poor ISM service-sector data but they're now giving up ground at a pretty rapid clip. The S&P has shed about 2/3 of its early gains and is now back below 1100, at 1096. A bit of profit-taking, risk-off ahead of the ...

USD/JPY: Very disappointing

Posted:

USD/JPY is the ultimate game of musical chairs. Traders sell, sell, sell and then cover quick once it stops going down for fear of the BOJ/MOF...On the topside, they are just as quick to pitch longs. Once the momentum stalls they head to the sidelines right quick... So here we are, ...

Obama: Broader package of ideas next week

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No specifics from Obama. He says he will have a broader package next week. Oh goody!

How ya like my head and shoulders now?

Posted:

EUR/USD looks like it has broken through the neckline of the head and shoulders mentioned yesterday. The textbook tells us the resulting rally should be worth about 2.5 big numbers.buying dips toward the neckline at 1.2840 looks the way to go near-term.

Next Wk/US: Beige Bk, Claims, Cons Credit, JOLTS

Posted:

By Theresa Sheehan PRINCETON (MNI) - The week ahead starts off with the Labor Day observance on Monday, but even the shortened workweek is more than enough to accommodate a light economic data release calendar. A few Fed officials are out making ...

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