Oct 13, 2010

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Your forexlive.com ENewsletter

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Talk China on the offer in EUR/USD

Posted:

At 1.4000.  The Giant Panda has been a notable seller around these levels of late, so it's not a huge surprise.  What was more surprising was the earlier talk of "Chinese" buying in low 1.3960's. Maybe it was only commercial interest as we suspected, or maybe China is becoming a super ...

UK Analysis: Sep Claimant Count Posts 2nd Consecutive Rise

Posted:

--Sep claimant count unemployment +5,300; rate 4.5% --Jun-Aug ILO unemployment -20,000 q/q; rate 7.7% --Aug total weekly earnings +1.7% 3m y/y vs +1.3% in Jul --Aug regular weekly earnings +2% 3m y/y vs +1.6% in Jul LONDON (MNI) - Claimant count unemployment increased for the second consecutive ...

UK DATA: Sep claimant count unemployment +5,300;…..

Posted:

UK DATA: Sep claimant count unemployment +5,300; rate 4.5% --Jun-Aug ILO unemployment -20,000 q/q; rate 7.7% --Aug total weekly earnings +1.7% 3m y/y vs +1.3% in Jul --Aug regular weekly earnings +2% 3m y/y vs +1.6% in Jul ------------------------------------------------------------------------ The Sep labour market data continued to paint a mixed picture. Claimant count unemployment ...

Gurria:Fought Trade Protectionism,Shld Fight FX Protectionism

Posted:

By David Barwick WASHINGTON (MNI) - Protectionism that relies on foreign exchange manipulation should be fought just like any trade and investment protectionism, OECD Secretary General Angel Gurria told Market News International in an interview conducted last weekend. Gurria, speaking on ...

UK September jobless claims +5k

Posted:

In line with median forecast +4.5k. Claimant count rate 4.5%, as expected. ILO unemployment rate 3m August 7.7%, slightly lower than median forecast of 7.8%. Lowest rate since May 2009.

Germany’s Econ Min: Shouldn’t Overrate Effect Of Strong Euro

Posted:

BERLIN (MNI) - German Economics Minister Rainer Bruederle cautioned in a newspaper interview published Wednesday against over-estimating the impact of a strong euro on German exports. Bruederle noted that only a few months ago, at the height ...

Talk of……

Posted:

"Large offer" in EUR/USD at 1.4005. Doesn't negate us going higher necessarily, but will help explain hesitation around 1.4000.

ECB Liikanen says world economic growth continuing, but recovery fragile, uneven

Posted:

Sees minor inflation pressure in Finland

ECB Text: Eurosystem Releases Credit, Debit Schemes Framework

Posted:

FRANKFURT (MNI) - The following is the text of a European Central Bank press release, announcing the publication of the Eurosystem's final version of the "Oversight Framework for Credit Transfer Schemes" and the "Oversight Framework for Direct Debit Schemes". ...

EUR/USD seeing steady trade so far; Chinese buying seen

Posted:

EUR/USD sits at 1.3970 little changed from the 1.3960 level when I arrived.  Just getting reports of Chinese buying in low 60's.   Not sure whether it's sovereign or commercial, but would hazard a guess it's commercial. Talk circulating of 1.4025 barrier interest now in place.

Germany Press:EU,IMF Aid For Greece Might Need To Be Extended

Posted:

BERLIN (MNI) - The IMF, the EU Commission and the Greek government itself fear that Greece might run into financial troubles again once the aid package of the Eurozone and the IMF runs out in 2012, German daily Sueddeutsche Zeitung reported Wednesday, citing no sources. ...

Swiss producer/import prices -0.1% m/m, +0.3% y/y

Posted:

Weaker than median forecasts +0.1%, +0.4% respectively.

France Budget Min:Govt Won’t Back Down On Retirement Age Hike

Posted:

PARIS (MNI) - French Budget Minister Francois Baroin and Labor Minister Eric Woerth confirmed Wednesday that the hike planned in the retirement age would not be modified, despite the growing public protest. The government "will not move" on the level ...

European stocks trading marginally firmer early

Posted:

DAX up 0.6%; CAC 40 up 0.6%; FTSE up 0.5%

USD/JPY steady, infact very steady

Posted:

USD/JPY sits at 81.85, pretty much where North America closed out Tuesday, with price action confined to extremely narrow range during Asian trade. Buy orders seen clustered 81.55/65 ahead of 81.50 barrier option interest. Stops seen through 81.40.  On topside, sell orders seen clustered 82.50 through 82.80.

Cable steady in early European trade

Posted:

Presently sits at 1.5830. Some event risk today in form of latest jobs data: 08:30 GMT: Jobless claims for September expected +4.5k. Claimant count rate unchanged 4.5%.  ILO unemployment 3m August expected unchanged at 7.8%.

Two-speed Europe coming down the line

Posted:

WSJ article

France September EU-harmonised CPI flat m/m, +1.8% y/y

Posted:

Pretty much in line with median forecasts of +0.1%, +1.8% respectively. EUR/USD has traded higher during Asian trade, continuing the post FOMC minutes rally.  Stops were tripped above 1.3935 and we're presently at 1.3955 having been as high as 1.3978.  Not surprisingly talk of sell orders clustered up around 1.4000.  Guess ...

FRANCE DATA: Sept HICP flat m/m, +1.8% y/y after…..

Posted:

FRANCE DATA: Sept HICP flat m/m, +1.8% y/y after August +0.2%/+1.6% - In line with MNI analysts survey median forecast - nsa CPI: -0.1% m/m, +1.6% y/y after August +0.2% m/m, +1.4% y/y - sa core: flat m/m, +0.8% y/y after August +0.6% y/y - See MNI MainWire for details

ForexLive Asian market wrap: EUR slightly higher in quiet session

Posted:

China's Sept trade balance lower than expected at $16.9 billion USD/CNY set at new record low level Japan's FinMin Noda: Korean leadership of G20 could be threatened by FX intervention Strong Japanese core machinery orders surprise Australian consumer confidence rises by over 3% UK consumer confidence falls sharply Regional bourses give back early gains to finish ...
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