Sep 7, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Japan PM Kan has slight lead over Ozawa in party leadership race – Kan aide

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Kan victory over Ozawa likely to be by small margin

Japan FinMin Noda: Will take firm measures on forex when needed

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Recent currency moves are clearly one-sided Worried about yen impact on corporate profits and hollowing out of industry

EU FinMins Approve EU Budget Semester To Bolster Coordination

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--New Rules Will Come In To Force In 2011, Start In March Each Yr BRUSSELS (MNI) - European finance ministers agreed at a meeting here Tuesday to review their budgets in tandem, by introducing a European budget semester. The new rules ...

Sweden Fin Min: Need More Rapid Progress On EU Budget Rules

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BRUSSELS (MNI) - Finance ministers aren't making fast enough progress towards tightening up the bloc's financial rules, Swedish finance minister Anders Borg said on Tuesday. "We need sanctions and we need to make more rapid progress," Borg told reporters on ...

ECB Bini Smaghi: See Risk Govts Might Repeat Past Errors

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FRANKFURT (MNI) - There is a risk that national governments could forget the mistakes of the past and be condemned to repeat them, European Central Bank Executive Board member Lorenzo Bini Smaghi cautioned Tuesday. As the world economy slowly makes ...

EUR/USD lower; stops tripped as general risk aversion picks up

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European stocks are extending losses, oil off about one and a quarter bucks as general risk aversion picks up. EUR/USD down at 1.2760 after aforementioned stops through 1.2780 tripped. Portuguese central bank reports borrowing by Portuguese banks from ECB up 0.6% in August to new record 49.1 bln euros. Won't be helping ...

Germany Confirms To Top Up Sep 2020 10Y Bund By E5 Bln Sep 15

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FRANKFURT (MNI) - The German federal government confirmed Tuesday that it will sell about E5 billion in a top-up of its 2.25%-coupon September 2020 10-year bund on September 15. The formal tender for the auction will be announced on Tuesday, ...

Germany Seeks Bids For E2 Bn 1.50% 2016 Linker Sale Sep 8

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FRANKFURT (MNI) - The German federal government on Tuesday formally announced it was seeking bids on the top up of its 1.50% coupon inflation-linked 10-year bond on September 8. Bids will be due by 1000 GMT (0600 EDT) on ...

Germany Seeks Bids For E6 Bn Top-Up Of 0.75% 2Y Schatz Sep 8

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FRANKFURT (MNI) - The German federal government is seeking bids Tuesday for the E6 billion top up of its 0.75%-coupon, two-year notes with a September 2012 maturity, the Bundesbank announced Tuesday. Bids are due by 0900 GMT on Wednesday, with ...

EU’s Barroso: Economic recovery in the European Union is gathering pace, although it is uneven

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EU economic growth in 2010 will be higher than first forecast Next 12 months must be used to accelerate EU structural and other reforms We need to tackle severe macroeconomic imbalances, especially in euro area Sees willingness among EU govts to accept stronger financial, fiscal monitoring We plan to tackle credit default swaps as ...

BOJ Gov Shirakawa: Monetary policy not determined by short-term forex moves

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Monetary authorities cannot control forex rates Always thinking of various policy options Will not rule out any policy options Watching market moves very carefully Watching impact of yen rise on Japan economy Strong yen may prompt firms to hold off on capital expenditure BOJ has become more cautious about US economy than in Spring.  It's recovering, ...

EU’s Rehn: Euro zone not out of woods yet

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Papandreou reshuffles Greek cabinet in attempt to spur growth

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Who would envy poor old George?

Australian PM Gillard says Labor prepared for stable govt

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AUD/USD sits at .9133.  Sources report Asian sovereign noted buyer in recent trade. Gillard says Abbott has conceded defeat

Social housing group Connaught “nears administration”

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I fear we can expect a raft of bad news like this going forward.

Stoxx Europe 50 futures down 0.3%

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DAX futures down 0.2%, CAC 40 futures down 0.2%

Swiss unadj jobless rate 3.6%, s.a rate 3.8%

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Compared to median forecasts of 3.6%, 3.7% respectively.

Australian PM Gillard to hold news conference at 06:15 GMT

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Unemployment in US may rise toward 10% on ‘feeble’ growth

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Bloomberg report.

Japan July Coincident Comp Index +0.5 Pt M/M, 2nd Rise In Row

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-- Japan July Prelim Leading CI -0.8 Pt M/M, 1st Drop In 2 Months -- Cabinet Office Repeats: CI Shows Japan Economy Improving TOKYO (MNI) - Japan's coincident composite index (CI), which reflects current business conditions, rose 0.5 point to 101.8 in July, posting the second straight ...
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