Sep 28, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

China Says Still Positive On European Bonds, Economies

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BEIJING (MNI) - China's attitude towards European sovereign debt remains positive and the government will continue to support measures designed to support recovery in Europe, an official with the Chinese Ministry of Foreign Affairs said Tuesday. "China will continue to ...

UK DATA: Q2 Current account balance -Stg7.383bn vs…

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UK DATA: Q2 Current account balance -Stg7.383bn vs -Stg11.3bn in Q1 ------------------------------------------------------------------------ The current account deficit narrowed sharply to Stg7.4bn in Q2 from Stg11.3bn in Q1. This was mainly due to a rise in the income surplus to Stg9.3bn from Stg2.9bn. This was mainly due to a large rise in the direct ...

ECB’s Mersch: Inflation Seen At Around 1.5% For Coming Years

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SHANGHAI (MNI) - Eurozone inflation will stay below the ECB's 2% medium- to long-term goal in the coming years, European Central Bank Governing Council member Yves Mersch said Tuesday. Mersch, who was briefing at a conference here, noted the ECB's ...

Germany: NRW Sep CPI -0.2% M/M, In Line W/Pan-German Med Fcst

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North-Rhine Westphalia CPI September: -0.2% m/m, +1.1% y/y August: +0.2% m/m, +1.0% y/y --- Pan-German CPI MNI median forecast: -0.2% m/m, +1.3% y/y MNI forecast range: -0.2 to +0.2% m/m August: ...

UK final Q2 GDP +1.2% q/q, +1.7% y/y

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As expected.  Don't you just love computers.  One of my laptops decides to throw a wobbly just after the release. Q2 current account deficit -7.383 bln, better than median forecast of -8.2 bln.  Has given sterling little lift, cable up at 1.5825, EUR/GBP down at .8480.

UK DATA: Final Q2 GDP unrevised at +1.2% q/q; 1.7%…

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UK DATA: Final Q2 GDP unrevised at +1.2% q/q; 1.7% y/y --Median forecast: +1.2% q/q; 1.7% y/y ------------------------------------------------------------------------ Q2 GDP was unrevised at 1.2% q/q and 1.7% y/y, bang in line with the median forecast. There were no large revisions in the main categories with household spending up 0.7% q/q and govt ...

ECB Quaden: Policymakers Shouldn’t Lose Reform Momentum

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BRUSSELS (MNI) - Policymakers shouldn't lose the momentum they've gained in implementing reforms and new financial standards, European Central Bank Governing Council Member Guy Quaden said on Tuesday. Europe's plans include new financial supervisors, which were finalised earlier this month, and the ...

Germany: Hesse Sep CPI -0.1% M/M; Brandenburg -0.3% M/M

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Hesse CPI September: -0.1% m/m, +1.1% y/y August: +0.1% m/m, +0.7% y/y --- Brandenburg CPI September: -0.3% m/m, +1.0% y/y August: ...

ECB Liikanen: Interest Rates Appropriate,Supportive Of Growth

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HELSINKI (MNI) - "All in all, the monetary policy stance of the European Central Bank is supportive of growth and the key policy rates are appropriate," ECB Governing Council member Erkki Liikanen said Tuesday. Liikanen, who heads the Bank of ...

GERMANY DATA: Consumer prices in the German states…

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GERMANY DATA: Consumer prices in the German states of Hesse and Brandenburg fell 0.1% and 0.3% respectively on the month in September, leaving annual rates at +1.1% (Hesse) and +1.0% (Brandenburg), the respective states' statistical offices reported on Tuesday. -- Hesse September CPI m/m above MNI median for Germany (-0.2%) -- ...

Irish 5 year cds hits record high at 519 bps

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Versus 488.5 bps at New York close on Monday - CMA Update:  Spanish 5 year cds rises to 241 bps versus 227.5 bps at New York close Monday.

China takes positive view of EU steps to deal with debt crisis – China vice ForMin Fu Ying

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Timely. EUR/USD back up at 1.3405. China's Wen to discuss financial crisis effects during visit to Greece, other European countries.

Spanish/German 10-year govt bond yield spread 193 bps

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Highest since mid-July Euro Stoxx 50 down 1.3% Spain's IBEX 35 down 1.6%;  Italy's MIB down 1.2%; Ireland's ISEQ down 1%

Italy September consumer confidence rises to 107.2 from 104.1 in August

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Demonstrably better than median forecast of 104.0.  Shame no one's paying the blindest bit of notice to economic data today.

Irish FinMin spokesman: Ireland reiterates it will not default on Anglo Irish senior debt

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Asian sovereign buys cable in recent trade

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Cable back up at 1.5800 from session low 1.5781. Interesting to see EUR/GBP back below .8500, presently down at .8485.  Talk of UK clearer selling from above .8500. Funny that.

ECB Tumpel:Basel III Is A Boost to Global Reg Standards

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BRUSSELS (MNI) - The Basel III agreements reached earlier this month represent a "fundamental" boost to global regulatory standards, and the phasing-in and transition agreements contained in the accord are "realistic", European Central Bank Executive Board member Gertrude Tumpel-Gugerell said on Tuesday. ...

Irish/German 10-year government bond yield spread hits euro lifetime high of 455 bps

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EUR/USD has tripped stops through 1.3400 on way to session low 1.3388, presently at 1.3392. Talk of more stops through 1.3380 now. Talk of further Irish downgrade has unsettled euro bulls, at least for now.

GERMANY DATA: Consumer prices in the German state of.

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GERMANY DATA: Consumer prices in the German state of Saxony rose 0.1% on the month in September, lifting the annual growth rate to +1.5%, the state's statistical office reported on Tuesday. -- Saxony September CPI above MNI pan-German survey median of -0.2% m/m -- Saxony September CPI ex-seasonal foods unch m/m, ...

Ireland’s cost of Anglo Irish Bank recapitalisation could exceed 35 bln euros

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Which could trigger further rating downgrades - S&P EUR/USD new session low 1.3408. Also talk of a Spanish downgrade from Moody's.  The rating agency placed Spain under review June 30 and said it would conclude its review within a 3 month period. Present ratings for Spain from three main rating agencies: S&P AA (negative),   ...
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