Oct 5, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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UK September services PMI rises to 52.8

Posted:

From 51.3 in August, demonstrably stronger than median forecast of 51.0.

Germany Seeks Bids For E5 Bn Top-Up Of 2.25% 10Y Bund Oct 13

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids for the E5 billion top up of its 2.25%-coupon, 10-year notes with a September 2020 maturity, the Bundesbank announced Tuesday. Bids are due by 0900 GMT on Wednesday, October 13 with results of ...

UK DATA: UK CIPS Services PMI 52.8 in Sept vs MNI &..

Posted:

UK DATA: UK CIPS Services PMI 52.8 in Sept vs MNI median 51.0 & Aug 51.3 -- Reuters.

USD/JPY slides lower; buy orders noted

Posted:

USD/JPY down at 83.30 having been as low as 83.25.  Just being told Japanese investor buy interest noted,  starting at  83.25.  The orders are said to be lined up lower as well, but not sure how far lower they go.

Update: Trichet: China Must Make Good On Flexible FX Pledge

Posted:

--Adds More Quotes, Background BRUSSELS (MNI) - China must make good on its G20 commitment to relax control over its currency, the renmimbi, thus allowing it to appreciate, European Central Bank President Jean-Claude Trichet said on Tuesday as Europe's policymakers stepped up their pressure on the ...

Japan FinMin Noda: Will take firm measures on fx when needed

Posted:

Hopes BOJ steps contribute to fx market stability Won't comment on fx market moves BOJ decision in line with government efforts to ensure economic recovery Important for government to pass extra budget soon to stimulate economy

Euro zone September final services PMI revised up to 54.1

Posted:

From flash 53.6. Still down from 55.9 read in August and a 6-month low. Composite also revised up to 54.1 from flash 53.8.  Still down from 56.2 read in August and a 7-month low.

EU’s Rehn says China and EU agree to work to rebalance global growth

Posted:

China's structural reforms aimed at rebalancing economy, should be complimented by appreciation of renminbi China govt commitment to flexible fx regime was confirmed today Conflict between China, Japan has to be brought to an end Chinese authorities do not share euro zone view on need for faster yuan appreciation

Germany Seeks Bids For E5 Bn Top-Up Of 0.75% 2Y Schatz Oct 6

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids for the E5 billion top up of its 0.75%-coupon, two-year notes with a September 2012 maturity, the Bundesbank announced Tuesday. Bids are due by 0900 GMT on Wednesday, with results of the allocation to ...

EUROPEAN DATA: Services PMI 54.1 in Sept vs 53.6 and.

Posted:

EUROPEAN DATA: Services PMI 54.1 in Sept vs 53.6 flash and 55.9 in Aug -- Composite PMI 54.1 vs 53.8 flash and 56.2 in August -- Reuters.

GERMAN DATA: German Services PMI 54.9 in Sept vs and.

Posted:

GERMAN DATA: German Services PMI 54.9 in Sept vs flash 54.6 and 57.2 in August -- Composite PMI 54.7 vs 54.8 flash and 58.4 in August -- Reuters.

ECB Trichet: China Must Make Good On G20 Forex Pledge

Posted:

BRUSSELS (MNI) - China must make good on its G20 commitment to relax its control over its currency, European Central Bank President Jean-Claude Trichet said on Tuesday. "We clearly have communicated as the Prime Minister [Jean-Claude Juncker] and [European Commissioner for Economic and ...

ECB’s Trichet says fx flexibility is very much in the interest of China

Posted:

We have very close cooperation with Central Bank of China We communicated to Chnia PM than commitment of June 19 should be confirmed We appreciated the declaration of Chnia PM of his confidence in euro zone treasuries

FRANCE DATA: France Services PMI 58.2 in Sept vs and.

Posted:

FRANCE DATA: France Services PMI 58.2 in Sept vs flash 58.8 and 60.4 in August -- Composite PMI 58.1 vs 58.5 flash and 59.5 in August -- Reuters.

ITALY DATA: Italy Services PMI 51.3 in Sept vs MNI…

Posted:

ITALY DATA: Italy Services PMI 51.3 in Sept vs MNI median 50.5 and 51.4 in August -- Reuters.

EUR/USD spurts higher

Posted:

Triggering aforementioned stops through 1.3725 and 1.3740 on the way to session high 1.3757.  We're presently at 1.3750. Talk is that a big US commercial bank bought around 1 yard  of EUR/USD, apparently on behalf of an Asian central bank. UPDATE:  As well as the US commercial bank, US investment bank  also notable buyer in ...

BOJ Gov Shirakawa: May expand asset buying pool fund from 5 trln if need arises in future

Posted:

BOJ board median economic forecast bleaker than before BOJ paying attention to downside economic risks JGB buying under fund pool aimed at pushing down longer-term rates No gap in economic view between govenment and BOJ When to start buying assets from fund pool will vary asset by asset Suda opposed JGB buying as worried it ...

Eurogroup’s Juncker: We want China to rebalance its growth, increase contribution of domestic consumption

Posted:

Yuan remains undervalued We welcome China decision of June on more flexible fx yuan rate Orderly, significant and broad based appreciation of yuan needed

AUD/USD extends sell-off

Posted:

Down at .9545 from around .9575 when I arrived.  US custodial selling notable.

Spain September services PMI 47.9

Posted:

Down from 49.2 in August and demonstrably weaker than median forecast of 49.8.  Lowest read since February.
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