Sep 29, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Rumour of better than expected Swiss data

Posted:

Talk in market  KOF swiss leading indicator for September is going to come in better than expected.  Talk is of a 2.40 read which would be up from previous 2.18 and better than median forecast of 2.11. Due 09:30 GMT

Update: UK Consumer Credit Lowest Since Nov 2009 – BOE

Posted:

--Adds Detail To Version Transmitted At 0830 GMT --BOE: Aug M4 Ex-Intermediate OFCs +0.8% m/m; +1.6% y/y --BOE: UK Aug House Purchase Approvals 47,372 vs 48,346 Jul --BOE: Aug M4 Ex-IOFCs y/y Growth Highest Since Q3 2009 --BOE: UK ...

UK August mortgage approvals 47,372

Posted:

Versus 48,346 in July, pretty much in line with median forecast of 47,000. Weakest since February. August mortgage lending +1.657 bln, up sharply from July's +0.018 bln and much stronger than median forecast of +0.25 bln August consumer credit -0.120 bln from +0.160 bln in July, weaker than median forecast of +0.10 ...

UK Data: Consumer Credit Falls To Lowest Since Nov 2009

Posted:

--BOE: Aug M4 Ex-Intermediate OFCs +0.8% m/m; +1.6% y/y --BOE: UK Aug House Purchase Approvals 47,372 vs 48,346 Jul --BOE: Aug M4 Ex-IOFCs y/y Growth Highest Since Q3 2009 --BOE: UK Aug M4 Ex-IOFCs Lending +0.3% m/m; +0.3% ...

Italy govt revises 2010 GDP growth forecast to 1.2% from 1%

Posted:

Cuts 2011 forecast to 1.3% from 1.5% - Source Sees 2012 GDP growth at around 2% Elsewhere, as we're on the topic of Italy;  Italian/German 10-year govt bond yield spread hits 173 bps, highest since early June EUR/USD has slipped back below 1.3600, presently at 1.3595.

ECB Bini: Economy To Profit From Basel III Stability Increase

Posted:

--Basel III Adjustment Period Might Be A Challenge To Monetary Policy MILAN (MNI) - The positive effects on the economy of increased financial stability due to the Basel III reform will outweigh the cost of the reform, ECB Executive Board member Lorenzo Bini Smaghi said Wednesday. ...

EUR/USD slips back

Posted:

Amid talk of medium-term model funds selling. We're at 1.3612 from session high 1.3638.  They have also been seen selling EUR/JPY in recent trade as well. One source just told me these funds have been long EUR/USD from around 1.2900. Also picked up some talk of a rise in buying of EUR/USD puts, with strikes around 1.3500 ...

ECB Constancio: ESRB Must Have Cooperation,Comprehensive Data

Posted:

BRUSSELS (MNI) - The establishment of the European Systemic Risk Board (ESRB) is the first step in safeguarding the stability of the financial system, but the availability of a set of comprehensive data is key for the ESRB to do its job, European Central Bank ...

EUR/GBP pops over .8600

Posted:

Amid talk of US investment bank being notable buyer of the cross.  There is also talk of .8620 barrier interest.  The EUR/GBP bears will be hoping it sees some robust defence.

ITALY DATA: September sa mfg morale 98.4 vs August…

Posted:

ITALY DATA: September sa mfg morale 98.4 vs August 99.3 (100.5): ISAE -- Italy September sa mfg morale registers first drop in 18 months -- Italy September mfg morale below expected; mni survey median 100.0 -- Italy ISAE: September sa mfg orders current level -27 vs August -23 ...

Italian September business confidence weaker than expected

Posted:

Down at 98.4 from revised 99.3 in August (previous 100.5), weaker than median forecast of 100.1.

Cable ticks higher early, runs into UK corporate selling

Posted:

Cable has ticked higher in early European trade, presently at 1.5860 having been as high as 1.5874 so far.  Sources report UK corporate sales around the highs. UK data due today at 08:30 GMT: Mortgage approvals for August expected 47k from previous 48.7k;  net consumer credit expected 0.1 bln;  net lending on ...

European stocks marginally firmer early

Posted:

FTSE up 0.5%;  CAC 40 up  0.5%; DAX up 0.4%

BIS seen selling around 1.3620

Posted:

Seem to be making the most of a slightly hesitant market.

FRANCE DATA: Sept consumer morale up two pts to -35;.

Posted:

FRANCE DATA: Sept consumer morale up two pts to -35; July rev -38 (-39) -- Above expected; MNI analysts survey median -40 -- Buying-propensity up two points -- Future inflation worries down one point -- Jobless fears down 11 points -- For more information, please see Mainwire

BIS buys EUR/USD

Posted:

Well that got things going. Stops tripped above 1.3610 and we've been to 1.3623 so far. Presently at 1.3615.

French Sept consumer confidence rises to -35

Posted:

Up from revised -38 in July (previous -39) EUR/USD pops above 1.3600, presently at 1.3605.

Ireland will not need emergency funding, says EU commissioner

Posted:

Irish Times article

USD/JPY drifts lower, probing for BOJ interest

Posted:

USD/JPY continues to drift lower as the market probes for signs of BOJ interest.  We're presently down at 83.63.  Talk of 83.50 barrier interest, stops below.  Japanese exporters chasing pairing lower, sell orders seen starting at 84.00 now.  It was 84.50 yesterday.

Anglo Irish “worst case” bill may top 30 bln euros

Posted:

But is expected to be below 35 bln cited by S&P.  Irish Times article.
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