Oct 6, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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A little birdy told me earlier…..

Posted:

That Asian central bank intervention overnight (by likes Korea/Singapore/Thailand) to weaken their home currencies estimated at $2-2.5 bln.  I thought that was interesting. Meanwhile EUR/USD continues to see quite trade, presently at 1.3860.

BBK Dombret: BBK Considers Fx Manipulation ‘Problematic’

Posted:

FRANKFURT (MNI) - It is "problematic" when a country intervenes in foreign exchange markets to gain a competitive advantage, Bundesbank Board member Andreas Dombret said in an interview pre-released Wednesday. From the point of view of Germany's central bank, interventions ...

UK DATA: UK car registrations fell 8.9% in Sep to….

Posted:

UK DATA: UK car registrations fell 8.9% in Sep to 335,246 units: SMMT -- UK Jan-Sep car registrations up 7.8% vs same 2009.

We’re going to be in New York

Posted:

Why not come and see us.   Do some Christmas shopping!!

Cable very narrow rangebound so far

Posted:

Cable sits at 1.5905, all but unchanged from when I arrived 10 hours ago. I jest, it just feels like that.  Reserve Bank of India has been notable seller of cable this morning sources report.

Kampo mutterings a little louder

Posted:

Mutterings of Kampo interest in USD/JPY seem to be getting a little louder. Getting reports Kampo down on the bid in USD/JPY around 83.00.  Not that we're any higher, presently at 83.05, but that's what I'm hearing.   I would remind readers that history tells us that Kampo buy interest doesn't necessarily negate ...

Japan ruling party seeks extra budget worth over Y4.8 trln to help economy counter yen, deflation

Posted:

Government and BOJ must cooperate more closely Urges government to set up sovereign wealth fund to make better use of forex reserves Government should take advantage of high yen to secure rare earth minerals, other resources

EUR/USD ticks higher; stalls at first hurdle

Posted:

EUR/USD extended it's recent rally, reaching 1.3862 high before slipping back.  As mentioned earlier, 1.3865/70 (sovereign sell interest), 1.3894 (61.8% fibbo retracement level) and 1.3900 (barrier option interest) next three hurdles for euro bulls.   Rather than sovereign interest, sources report notable eastern European  commercial sales behind recent retreat from highs. We're presently back at ...

USD/JPY steady at lower levels

Posted:

USD/JPY sits at 83.15, almost exactly where it closed out Tuesday in North America.  Asian trade saw price action confined to narrow 83.08-83.26 range. Been recent talk of real money buying around 83.00, lending much-needed support while BOJ continues to stay away. Stops seen gathered down at 82.80/85.  Below there talk of ...

Japan Average Regular Gasoline Price Drops For 19th Wk In Row

Posted:

TOKYO (MNI) - The average price of regular gasoline in Japan this week fell to ...

BOJ Oct Report: Japan Production To Rise After Temporary Slip

Posted:

TOKYO (MNI) - The Bank of Japan on Wednesday downgraded its view on consumer spending and exports in its monthly economic report for October while leaving its assessment of industrial production little changed, foreseeing a recovery after a temporary slip. ...

S.Korean authorities seen buying dollars to stem won’s strength – Dealers

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And so it goes......

EUR/USD consolidating recent gains

Posted:

EUR/USD sits at 1.3845, all but unchanged from North American close Tuesday around 1.3830, with Asian trade confined to a conservative 1.3823-1.3858 range. Euro zone data due today: 09:00 GMT: Euro zone Q2 GDP (final) expected +1.0% q/q, +1.9% y/y 10:00 GMT: German factory orders for August expected +0.9% m/m, +17.2% y/y European stocks ...

ForexLive Asian market wrap: Gold, stocks continue to rise; FX quiet

Posted:

IMF chief warns against currency wars Australian banks may raise rates with or without the RBA Japan's ruling party proposes National fund to invest in overseas reources projects UK jobs growth continues to stutter Gold posts new record highs above $1345/oz Regional stockmarkets rise by up to 1.5% It has been another extremely quiet session in ...

Quick look at the order board

Posted:

AUD/USD: Barrier protection still ahead of .9750, stops above; more barriers at .9800 and .9850 (large) USD/CAD: Small barrier currently under pressure at 1.0150 USD/JPY: Real money funds buying ahead of 83.00 EUR/USD: Sovereign names on offer 1.3865

Stagnation in the FX market

Posted:

Don't adjust your screens, even the Reuters newswire is barely ticking over. Absolutely nothing going on so tune out and come back in two hours when the Swiss start winding up!

Australian banks set to raise rates with or without the RBA

Posted:

According to this article in today's Australian newspaper, the big 4 Australian banks aren't satisfied with their already record profits and will raise their lending rates next month even if the RBA stays on hold. The world is trying to recover from a potentially devastating financial crisis and yet the bankers ...

USD holds on as momentum wanes

Posted:

EUR/USD is back at 1.3830 with Asia unable to break above the overnight high and so resigned to another session of tight ranges. Dealers say that Sovereign offers starting at 1.3865 are providing a short term ceiling.

ForexLive NY get-together in early November

Posted:

Jamie, Gerry and I will be getting together in NY in early November and we are planning an event of some sort with ForexLive readers on either Wednesday 3rd or Thursday 4th. Please contact Jamie if you would like to come along so we can figure out which day, which ...

Gold continues to make new highs

Posted:

Gold futures traded at new record highs this morning above $1345/oz. The Nikkei is holding on to its early gains, now +0.85% and both Seoul and Sydney are over 1% higher.
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