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- Euro dives late: Hypo Real Estate needs fresh bailout
- ForexLive US wrap-up; Fast start, sloooow finish
- IMF disburses another EUR 2.6 bln to Greece
- Risky business for a Friday afternoon
- Obama: Entire Agenda Now To Stimulate Jobs, Economic Growth
- Easy to raise taxes…
- US Credit Mkts Week Ahead: Ongoing Flow Driven Technical Trade
- So what in the world was EUR/CHF about today?
- IMF’s Zhu: China’s economy slowing
- US’s Geithner To Shape Hill Debate On China FX Bill Thursday
- ECB Update:Prepared For Slower Recovery In Uncertain Universe
- Volcker: Europe’s problems put euro in real jeopardy
- BOC’s Carney: Renewed weakness in US economy has important implications for Canada
- Traders only willing to push EUR/USD so far…
- Obama continues to support raising taxes in a recession
- Talk of EUR/USD demand at 15:00 GMT fixing
- French PM raises GDP view a little
- Asset markets well-bid
- Next Wk/US: Retail Sales, PPI/CPI, Philly Fed, IP, TICS, C/A
- Obama presser on economy at 15:00 GMT
| Euro dives late: Hypo Real Estate needs fresh bailout Posted: German media reports that already bailed out Hypo Real Estate needs up to an additional EUR 40 bln in capital. Looks like Volcker may be on to something... EUR/USD slid to 1.2680 late in the day on the report.    |
| ForexLive US wrap-up; Fast start, sloooow finish Posted: PM Fillion: French GDP "at least 1.5%"; up from 1.4% government estimate US wholesale inventories rise 1.3% in July; sales rise 0.6%--stronger than expected Obama rehashes new economic proposals in press conference; appoints Goolsbee to chair of Council of Economic advisers Ex-Fed chair Volcker: Europe's problems threaten sustainability of euro BOC's Carney: US slowdown ...  |
| IMF disburses another EUR 2.6 bln to Greece Posted: The funds come from the EUR 30 bln stand-by arrangement that Greece has with the IMF. Greece has made a strong start on its economic program and says its fiscal strategy is on track. No market reaction as the week ticks to a close. EUR/USD trades at 1.2715.  |
| Risky business for a Friday afternoon Posted: Markets are understandably quiet but most of your riskier assets have an underlying bid to them. The S&P trades within a point of session highs, now at 1109, oil is up over $2 bucks (though part of that is due to a supply disruption), 10s are holding near a 2.80% ...  |
| Obama: Entire Agenda Now To Stimulate Jobs, Economic Growth Posted: By Brai Odion-Esene WASHINGTON (MNI) - President Obama Friday defended his administration's handling of the U.S. economy's recovery from the "Great Recession" onward, using the platform of a late morning news conference to counter claims the government is tackling too late an issue that many believe ...  |
| Posted: ...when you can't be bothered paying them yourselves... UPDATE: Link fixed now...  |
| US Credit Mkts Week Ahead: Ongoing Flow Driven Technical Trade Posted: By Alyce Andres-Frantz WASHINGTON, Sept 10 (MNI) - The Treasury market is expected to continue its ongoing flow-driven range trade in the week ahead, which could easily be amplified by an ongoing technical correction. So far, September has been a ...  |
| So what in the world was EUR/CHF about today? Posted: The EUR/CHF price action today is a real head scratcher. A two-hundred pip rally in 6 hours followed by a 100-pip retracement in about 3... Traders reported huge buying from one of the two CHF mega banks across all the CHF crosses but particularly EUR/CHF and GBP/CHF in addition to ...  |
| IMF’s Zhu: China’s economy slowing Posted: Special adviser says does not see double-dip recession China slowdown a very good thing; sees soft landing China moving away from export growth to more domestic consumption China can't rely on strong global demand A pretty rosy view. Let's hope its right. If so, global imbalances would be lessened. AUD/USD is well supported, trading ...  |
| US’s Geithner To Shape Hill Debate On China FX Bill Thursday Posted: --Treasury Secretary To Testify To Key House, Senate Panel On FX Report --Lawmakers Expected To Scold Geithner On Forex Report Released in July --Congress's Three Week Fall Session Makes Currency Bill Unlikely By John Shaw WASHINGTON (MNI) - Treasury Secretary Tim Geithner will spend most of next Thursday on ...  |
| ECB Update:Prepared For Slower Recovery In Uncertain Universe Posted: FRANKFURT (MNI) - As the euphoria surrounding the robust German and Eurozone growth in the second quarter wears off, policy-makers have made it clear that some turbulence is to be expected in the recovery ahead. These prospects lend weight to ...  |
| Volcker: Europe’s problems put euro in real jeopardy Posted: Former Fed Chairman Paul Volcker is sending the euro lower, saying Europe's problems put the sustainability of the euro in real question. Global imbalances have to be corrected to have a sustainable recovery. Something is seriously wrong and imbalanced in the world economy, he says. This is not what we ...  |
| BOC’s Carney: Renewed weakness in US economy has important implications for Canada Posted: Will have to chart a careful course for monetary policy due to unusually uncertain environment Deflationary pressures emerging in some major advanced economies USD to remain reserve currency for foreseeable future; yuan cannot be reserve currency until full convertibility and open capital markets Countries with fixed exchange rates do not have optimal monetary ...  |
| Traders only willing to push EUR/USD so far… Posted: 1.2745, and not a pip farther. Traders are in no mood to take on the central banks (sellers at 1.2750/65) in the waning hours of a frustrating week. WEasier to pocket the pips they made around the fixing and head for the doors. Can't balme them a bit... EUR/USD has eased ...  |
| Obama continues to support raising taxes in a recession Posted: Despite signs that his Congressional colleagues are reluctant to hike rates during a recession, Obama continues to make that case ... Obama is called out on waiting until the fall mid-term election campaign to propose business tax cuts when he could have done it much earlier in the year when it ...  |
| Talk of EUR/USD demand at 15:00 GMT fixing Posted: Traders report sizable demand for EUR/USD at the upcoming 15:00 GMT fixing. EUR/USD trades quietly around 1.2715. Should any sort of rally break out in the last hour of European trade, expect the SNB to sell toward 1.2750 once again... Those who want to watch the Obama press conference can do ...  |
| French PM raises GDP view a little Posted: The French government forecst for 2010 GDP is 1.4%. PM Fillion now says that growth will be "at least" 1.5% this year. Break out the champagne!  |
| Posted: Share prices are firmer in the US this morning while oil surges on a pipeline problem in the US Midwest. Crude is up $2 to 76.30, while the S&P is at 1110, up 0.5%. US yields are at 2.81% as the macro-shift toward risk continues. EUR/JPY is firming up after a ...  |
| Next Wk/US: Retail Sales, PPI/CPI, Philly Fed, IP, TICS, C/A Posted: By Theresa Sheehan PRINCETON (SMRA) - The week ahead is busy with data releases, and many of them of high importance to markets. Foremost will probably be retail trade and the Consumer Price Index, but also of interest will be the manufacturing outlooks from the New ...  |
| Obama presser on economy at 15:00 GMT Posted: He is expected to nominate Austan Goolsbee as Chair of the Council of Economic Advisers at that time. Goolsbee is best remembered for calling the Canadians during the 2008 campaign to tell them Obama's anti-NAFTA rhetoric was just campaign BS...  |
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