Oct 1, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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UK Mfg PMI Slightly Weaker than Expected

Posted:

UK Sept PMI just came in at 53.4 slightly lower than the 53.8 forecast. The news was roundly ignored. GBP/USD is recovering steadily today but EUR/GBP continues to head in one direction - up.

EUR/USD “Blows” through 1.37

Posted:

As Sean warned earlier today there are lots of stops around. EUR/USD just hit a 6 month high of 1.3719 and looks poised to head higher again. Plenty of data today but it is not having much of an impact. I know everyone is sick of hearing it but yes ...

GBP Mfg PMI Due Out in a Few Minutes

Posted:

The first of the month is of course PMI day for many countries. Next cab off the rank is the UK in about 5 minutes. Retuers forecast is 53.8 following a 54.3 reading in August.

EFSF Regling Confident Rescue Fund Won’t Be Used: Lawmaker

Posted:

BERLIN (MNI) - European Financial Stability Facility (EFSF) head Klaus Regling told German parliamentarians on Friday he still expects that no Eurozone country will need to tap the emergency fund, a lawmaker told Market News International here. The EFSF head ...

ECB Nowotny:Can’t See How One Could Penalize Ratings Agencies

Posted:

BRUSSELS (MNI) - It is difficult to see how ratings agencies could be penalized for taking bad decisions, but serious analytical work is needed on the way they take those decisions, European Central Bank Governing Council Member Ewald Nowotny said on Friday. ...

Stark:ECB Monetary Policy Accommodative And Appropriate:Press

Posted:

By David Barwick FRANKFURT (MNI) - The monetary policy of the European Central Bank is accommodative and appropriate at the moment, ECB Executive Board member Juergen Stark told a blogger in an interview conducted earlier this week and posted to the web. ...

ACB Intervention Today – Some Clarification

Posted:

Just to make sure we are all on the same page with this one (and as W correctly points out) Asian Central banks intervene in their local currency by buying US Dollars in order to keep the local unit weak. The only liquid market of course is against US Dollars. Given ...

USD/JPY Remains Steady but Longs are Nervous

Posted:

USD/JPY has traded a minute 83.37-58 range today; last at 83.40. Players seem long (USD) hoping that the BOJ will intervene to save their positions. More dire data out of Tokyo today (and most days for that matter) probably supports that view. The only trouble is that the topside is capped ...

Japan Sep New Vehicle Sales -4.1% Y/Y Vs Aug +46.7%

Posted:

TOKYO (MNI) - New vehicle sales in Japan fell 4.1% from a year earlier to ...

AUD/USD Remains Firm

Posted:

AUD/USD was sold first up in Sydney today following more analysts saying the RBA wont move on rates next week but wait till the November meeting (after Q3 CPI). I have no problem with that summation but market continues to favour a rate hike next week (62% chance) given the ...

Portugal PM:Will Do Whatever Needed to Meet Commitments-Press

Posted:

FRANKFURT (MNI) - The Portuguese government will "do whatever is necessary" to meet its commitments to cut the public deficit, and it is "putting aside all issues of popularity," Portugal's Prime Minister Jose Socrates told the International Herald Tribune ...

ACB Intervention Today

Posted:

Asian Central Bank (ACB) intervention has gone through the roof this week. Traders are suggesting amounts around $20bln although this may be on the conservative side. Despite a very dull day in Asia for major pairs, ACBs have been very active intervening to keep their domestic currency weak. The leader of ...

How high for the EUR if China starts putting excess into EU

Posted:

As we know China makes massive trade surpluses every month but for some time now it has not been ploughing this excess capital back into US Treasuries but has been looking elsewhere. The Japanese have become very upset due to the massive buying of JGBs and Yen by China and ...

German August retail sales -0.2% MoM, +2.2% YoY

Posted:

Analysis: Germany Retail Sales Continue to Fall in August

Posted:

Seasonally adjusted real sales: August: -0.2% m/m, +2.2% y/y MNI survey median: +0.5% m/m MNI survey range: flat to +1.5% m/m July: -0.4% m/m, +1.2% y/y (revised from ...

GERMANY DATA: Retail sales in Germany fell 0.2% on…

Posted:

GERMANY DATA: Retail sales in Germany fell 0.2% on the month in real terms in August, adding to July's 0.4% slide, to give an annual rise of 2.2%, the Federal Statistical Office reported on Friday. -- Germany August m/m retail sales below all fcsts (MNI median +0.5%) -- Germany July m/m ...

Market returns to NY closing levels as Europe wakes up

Posted:

It was a very quiet last few hours in Asian trade and early Europeans have wasted no time in sending prices back to the NY closing levels. There are no big orders close by to the best of our knowledge and no big flows expected either today. The raft of economic ...

Austria FinMin: More Optimistic About Ireland After Thursday

Posted:

By David Barwick BRUSSELS (MNI) - There is reason to view the Irish situation with greater optimism after Dublin announced new plans for bailing out troubled banks and reaffirmed its commitment to cutting the public deficit down to size, Austrian Finance Minister Josef Proell told Market ...

BOJ Qtrly Poll: Japan Consumer Sentiment Dip 1st Since Mar 09

Posted:

TOKYO (MNI) - Japanese consumer sentiment has worsened slightly in the past three months in the wake of the strong yen and slumping share prices, posting the first drop since March 2009, according to the results of the Bank of Japan's quarterly survey released on ...

China to help EU escape from crisis

Posted:

That's the Reuters headline. Chinese Premier Wen will propose 'practical actions' to help Greece and the Euro Zone to escape from crisis.
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