Sep 9, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ECB’s Mersch: We are now seeing first signs of broad-based recovery in euro zone

Posted:

Recovery might be uneven, have some unpleasant surprises Have seen forst signs of slight improvement in markets, but should not declare victory Next discussion on exit from non-traditional measures likely in December meeting Interest rates are appropriate Absolutely essential that this time everyone respects Basel 111 rules

Japan Vice FinMin Ikeda: To take decisive steps on forex when needed

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I LIVE for this stuff!!! Would need to secure revenue resources if to cut corporate tax rates To examine effects of economic stimulus package before mulling extra budget Will swiftly take next steps to help economy if necessary

UK July global goods trade balance -£8.667 bln

Posted:

Much worse than the  expected median forecast of -£7.45 bln. Biggest deficit on record. Cable has tripped aforementioned stops through 1.5400, presently down at 1.5382. EUR/GBP up at .8245.  Getting reports of stops through .8255.  No idea of size.

Britain’s FSA says fines Goldman Sachs £17.5 mln. Is that all?

Posted:

Fine relates to failure to ensure adequate systems and controls. Failure to notify FSA of SEC investigation into the Abacus CDO Goldman did not tell FSA that a Wells notice had been issued to Fabrice Tourre.

EUR/GBP creeping higher

Posted:

EUR/GBP up at .8233.  Buy interest in the cross is weighing on cable which languishes down at 1.5408.  Earlier got reports of sell stops below 1.5400.

Do only the Swiss trade EUR/USD?

Posted:

It seems to be all about the Swiss this morning.   Swiss private bank notable seller early.  Talk Swiss National Bank also sold.  BIS bought, now looking to sell. EUR/USD sits at 1.2687 from session low 1.2665.  See!!!, I told you I seldom get what I wish for.  Story of my life.   No ...

Oh no!!!!!!

Posted:

Just got report BIS seen on the offer in EUR/USD at 1.2690.

USD/JPY steady. What happened to the overnight intervention?

Posted:

USD/JPY sits quietly at 83.65, all but unchanged on the day.  What happened to the overnight intervention I thought we were going to see?  IN A PIG'S EAR!!! Anyways, here's some USD/JPY order stuff. Sovereign sell orders seen up around 85.00.  Japanese exporter sell orders left up at 85.00/50.  Japanese importer/option-related buy orders ...

China August passenger car sales up 18.7% vs year ago

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Chinese automakers shipped 1.02 million passenger cars to dealers in August, up 18.7% from year earlier.  Improvement on July numbers which showed 13.6% y/y rise.

Irish FinMin: Definite figures on Anglo Irish Bank will be produced before October

Posted:

Will deal with Anglo within weeks and believes bond markets will wait Understands bids have closed for sale of Allied Irish Bank's Polish unit, substantial bids made National Asset Management Agency now in position to give accurate discount on remaining Anglo loans Finality on capital position of Allied Irish Banks will be brought ...

BIS buys EUR/USD

Posted:

Low 70's. We're presently at 1.2672. Earlier we had reports of Asian sovereign bids around 1.2660, sell stops through 1.2655.   Now getting reports of Middle Eastern buy orders lined up from 1.2660 down to 1.2630.  Will be interesting to see whether they hold the line. Almost hope they don't, so we can get some ...

European stocks marginally lower

Posted:

DAX 30 off 0.4%, FTSE 100 off 0.2%, CAC 40 off 0.4%

EUR/GBP seeing narrow range trade

Posted:

Fractionally firmer on day, presently at .8228.  German buying noted in recent trade.  Talk buy orders down at .8200/10.  Probably stops gathering not far below there, but haven't gotten confirmation as yet. UPDATE:  Talk of .8200 barrier option interest.  Recent price action would certainly seem to suggest that.

EUR/USD little easier

Posted:

Presently at 1.2685.  Swiss private bank seen notable seller. As we've said on numerous ocassions before, they can be lumpy.

Australia Greens Leader Bob Brown says will not stand in way of Labor govt mining tax

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Says has no agenda to implement tax on bank profits Opposed to uranium mining, but won't push to include uranium in mining tax Party does not have numbers in Parliament to dictate Labor policy Labor-Greens alliance should be good for markets

Cable having opened touch easier, steady early

Posted:

Cable presently at 1.5440, down very slightly from North American close Wednesday up around 1.5470, but seeing very quiet early European trade. UK data/events due: 08:30 GMT: UK visible trade balance for July expected -7500 mln; non-Eu -4300 mln; total -3300 mln 11:00 GMT:  Bank of England rate decision.  Widely expected no change.  ...

German August CPI confirmed at flat m/m, +1.0% y/y

Posted:

EUR/USD sits at 1.2695,  busy doing jack.

These are troubled times for the Coalition, but worse is to come

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All hell will break loose when George Osborne unveils his spending cuts, says Benedict Brogan.

Ireland breaks up Anglo Irish as EMU debt jitters return

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Latest from AEP at The Telegraph.

EUR/USD continues to consolidate at lower levels

Posted:

Well that's what I think is going on.  EUR/USD sits at 1.2698, little easier than North American close Wednesday up around 1.2720. ECB's Stark opining that German banks are undercapitalized yesterday didn't do the euro any favours.  Worries surrounding European banks and PIIGS never far from the surface. Data due today: 05:30 GMT:  French ...
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