Sep 21, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Germany Sets Tender For E6 Bn Auction Of 5-Yr Bobls Sep 22

Posted:

FRANKFURT (MNI) - The German federal government set a 1.75% coupon on the E6 billion in new 5-year Bobls it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 09:00 GMT Wednesday, ...

Spanish/German 10-year govt bond yield spread narrows to 172 bps

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Tightest in a week.

Wellink: Will Reconsider If We Fear A Negative Impact Of Exit

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By David Barwick SINGAPORE (MNI) - The European Central Bank will rethink its exit from liquidity support measures if it has reason to fear a negative economic impact, ECB Governing Council member Nout Wellink told Market News International on Monday. The head of the Dutch ...

UK Treasury: Public Finance Data Prove Deficit Action Needed

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LONDON (MNI) - Today's public finance data show just why the government had to take action to tackle the budget deficit, the UK Treasury said. A spokesman for the Treasury said that, "although broadly in line with the OBR's Budget ...

Update: UK Aug Public Sector Borrowing Highest On Record

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--Adds detail to version transmitted at 0830GMT --Aug PSNB Stg15.302bn vs Stg13.548bn in Aug 09; median Stg12.6bn --Aug PSNB ex financial interventions Stg15.91bn vs Stg14.08bn in Aug 09 --Aug PSNCR Stg5.804bn vs Stg10.317bn in Aug 09; ...

Spain sells 5280 mln in 12-month treasury bills; 1757 mln in 18-mnth

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Bid to cover ratio 12-month 1.7 from previous 2.5. Average yield 1.908% from previous 1.836% Bid to cover ratio 18-month 2.9 from previous 3.9. Average yield 2.146% from previous 2.078% Quote I got from fixed income sort on auction result was "reasonable"

Russia continues to sell EUR/USD

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Down at 1.3121 from 1.3135.

Cable recovers

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Cable back up at 1.5545 from session low 1.5504 with Asian sovereign buying notable in recent trade.  Good chance there has been Asian sovereign buying in EUR/USD as well, but haven't had reports of that. French bank notable buyer in latest push to session high 1.3135 in EUR/USD.

UK Analysis: Aug Public Sector Borrowing Highest On Record

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--Aug PSNB Stg15.302bn vs Stg13.548bn in Aug 09; median Stg12.6bn --Aug PSNB ex financial interventions Stg15.91bn vs Stg14.08bn in Aug 09 --Aug PSNCR Stg5.804bn vs Stg10.317bn in Aug 09; median Stg8.8bn ...

UK DATA: Aug PSNB Stg15.302bn vs Stg13.548bn in Aug..

Posted:

UK DATA: Aug PSNB Stg15.302bn vs Stg13.548bn in Aug 09; median Stg12.6bn --Aug PSNB ex financial interventions Stg15.91bn vs Stg14.08bn in Aug 09 --Aug PSNCR Stg5.804bn vs Stg10.317bn in Aug 09; median Stg8.8bn ------------------------------------------------------------------------ PSNB came in nearly Stg3bn higher than the Stg12.6bn forecast from City economists. On ex financial interventions, ...

Irish/German 10-year govt bond yield spread tightens to 406 bps vs around 416 bps yesterday

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Greek, Portuguese, Italian 10-year spreads over bunds also generally tighter. Will be helping lend EUR/USD support.

Russia sells EUR/USD

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Down slightly at 1.3115 from session high 1.3123.

AUD/USD touch firmer on day

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AUD/USD up at .9470 from early .9450.  Heard UK clearer noted buyer on early dip.  Now hearing US investment bank who does God's work on the offer presently.  As we've noted earlier there's 9500 barrier option interest in the pairing.

Cable taking bit of a pounding

Posted:

Cable down at 1.5520 having been as low as 1.5511 after stops tripped through 1.5530.  Can't put finger on any new fundamental reason for surge in selling.  GBP/CHF has taken another marked leg lower, so whether yesterdays reported M&A flows still going through? Could be, but I can't really confirm.  GBP/CHF ...

China ForMin: “Inappropriate” for Premier Wen to meet Japanese PM at U.N meetings in New York

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China-Japan relations already damaged over detained ship captain dispute The World doesn't really need these two going at each other.    Isn't going to do risk appetite much good. EUR/USD down at 1.3067.

Japan July Coincident Index Revised Up To +0.6 Pt, 16th Rise

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-- Japan July Leading Index Revised To -0.3 Pt M/M, 1st Drop In 2 Months TOKYO (MNI) - Japan's coincident composite index (CI), which reflects current business conditions, rose a revised 0.6 point to 103.0 in July (vs. preliminary +0.5 pt to 101.8), posting the 16 ...

Cable very steady early

Posted:

Cable sits at 1.5572, effectively unchanged from when I arrived nearly 3 hours ago. Talk of stops through 1.5600 and more through 1.5630. Got some public finance data out later this morning, normally good for a bit of price action. 08:30 GMT: PSNCR for August expected 8.1 bn; PSNB expected 12.5 bln.

Come to the Big Apple and do your Christmas shopping

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http://www.forexlive.com/133388/all/any-one-up-for-a-meet-up You can pop in and buy me a drink.  Bring me an early Christmas present, why not..........

EFSF’s Regling: Ireland Has Not Approached Him On Aid:Press

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FRANKFURT (MNI) - Ireland has not approached European Financial Stability Fund head Klaus Regling about possible aid, Regling told German business daily Handelsblatt in an interview published Tuesday. Regling, a former German Finance Minister official, also said that volatile markets ...

Japan bank lobby head: Japan fx intervention was effective

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New global bank capital requirement of 7% is "harsh" for Japan's banks Sees no need despite new rules for Japan's banks to raise capital further
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