Oct 4, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

GERMAN DATA: Germany Sep new passenger car 17.8% y/y.

Posted:

GERMAN DATA: Germany Sep new passenger car registrations 17.8% y/y -- Jan-Sep new passenger car registrations -27.5% y/y: VDIK

ECB Tumpel-Gugerell:Must Constantly Strengthen Global Fin Sys

Posted:

FRANKFURT (MNI) - The resilience of the global financial system must continually be strengthened and a medium for balanced and sustainable economic growth created, European Central Bank Executive Board member Gertrude Tumpel-Gugerell argued Monday. The bank reforms under the so-called ...

UK DATA: UK CIPS Construction PMI 53.8 in September..

Posted:

UK DATA: UK CIPS Construction PMI 53.8 in September.

UK September construction PMI 53.8

Posted:

Up from 52.1 in August and demonstrably better than median forecast of 51.4. Data has helped EUR/GBP extend sell-off to session low .8672.

Euro zone sentix index rises to 8.8 in October

Posted:

From 7.6 in October.  Better than median forecast 8.0.  Data hasn't managed to help euro any though, EUR/USD languishing down around session low 1.3695.

Swiss Large Banks To Face Tougher Capital Ratios Than Basel 3

Posted:

FRANKFURT (MNI) - Credit Suisse and UBS should boost their capital in common equity to 10% by 2019, a stiffer requirement than the one contained in the Basel III accord announced last month, an expert panel appointed by the Swiss government proposed Monday. ...

BIS buys EUR/USD in recent trade

Posted:

EUR/USD up at 1.3730 from session low 1.3716.

UK’s Osborne: Britain out of financial danger zone

Posted:

Finance Minister Osborne has told radio 4 that "what we've done over the last 5 months is move Britian out of the financial danger zone and given the country a plan that the rest of the world has confidence in." Govt due to announce plans to cut departmental spending by 25% ...

EUR/USD extends sell-off

Posted:

Talk China has been selling EUR/USD this morning. We're down at session low 1.3728 with stops having been tripped through 1.3740.  Buy orders now seen clustered down at 1.3700/10, more stops below there.

AUD/USD slightly easier, Sovereign buyer seen in recent trade

Posted:

AUD/USD down at .9680 from early .9695.  Talk sovereign name buyer in recent trade.

Spain Sept jobless rate rises +1.2%

Posted:

By 48,102 to 4.018 mln. News hasn't helped euro which has slipped to 1.3735 at writing.

Japan judicial panel says ruling party’s Ozawa should be charged over funding scandal – Media

Posted:

The decision by the panel of ordinary citizens means the courts must appoint lawyers to prosecute the case. USD/JPY has slipped back in early European trade, presently at 83.30.  Still BOJ stays away.  Talk Japanese exporter sell orders starting up at 83.90/00.  On the flip side, still seem to be reports of hedge ...

UK’s Osborne: Govt will withdraw child benefit from higher rate taxpayers

Posted:

Child benefit measure will save about one billion pounds

Eurostoxx 50 futures up 0.1%

Posted:

DAX futures up 0.1%.  CAC 40 futures up 0.2%

EU Rehn: W/O Effective Enforcement, Rules Won’t Be Followed

Posted:

FRANKFURT (MNI) - Without effective enforcement, newly proposed fiscal rules for the European Union cannot be effective, the European Union's Economic and Monetary Affairs Commissioner Olli Rehn said in an interview with the Financial Times, published Saturday. The Finnish ...

EUR/USD touch easier in orderly Asian trade

Posted:

EUR/USD sits at 1.3760, down slightly from North American close Friday around 1.3790. The market will have noted WSJ article entitled "Spanish towns struggle under crushing debts"   Not that ongoing worries surrounding PIIGS have held the euro back  so far. Euro zone data due today: 08;00 GMT: Italian deficit to GDP (ytd) Q2 08:30 GMT: ...

Talk Bank of Korea bought dollars around KRW 1,123 – Traders

Posted:

Some of which will no doubt be diversified into euros in near future.

ForexLive Asian market wrap:

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China and Australian holidays lead to another quiet session Stop-loss hunts in early interbank trade see EUR/GBP gap 50 pips higher then retrace Regional stockmarkets +1%, at 2-year highs France and China reportedly in on-going FX talks Japan's August wage growth flat Irish pensions may help government If there were any option-related stops above 1.3800 in ...

Start the week on a cheery note with AEP

Posted:

Yes of course I'm joking. As I've said many times before AEP at the UK Telegraph doesn't see the glass as half-full, his glass is empty and smashed into a million pieces.

Around the markets: Stocks at two-year highs

Posted:

Risk is most definitely on in Asia with regional stocks at two-year highs. The Nikkei is up 0.9% on the day, HK is up almost 1% (apologies for earlier mis-information, only mainland China is closed this week) and Seoul is up 0.6%. JPY crosses remain relatively buoyant with EUR/JPY consolidating above ...

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