Oct 16, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Richards says Jagger’s a jerk

Posted:

Man, I'm afraid to see what Gerry's gonna write about me in his bio.

ForexLive US wrap-up: Geithner punts on currency report

Posted:

US Treasury delays release of semi-annual currency report until after G20 Bernanke: Fed prepared to provide additional accommodation; inflation too low, unemployment to high. US CPI rises 0.1% in September, core unchanged US retail sales rise 0.7% in September Eurogroup's Juncker: Too much volatility in main FX pairs , JPY not too strong EU's Rehn: ...

US Hill FX Bill Still Faces Difficult Path After Tsy Delay

Posted:

--In Relatively Brief Lame Duck, Senate Vote Remains Unlikely --Sen. Schumer Vows Action, But Pushes Different Bill Than House --Senate Banking, Finance Panel Chairs Each Claim Jurisdiction Over Bill --Sens. Baucus, Dodd Trips To China Unlikely To Affect Currency Debate By John Shaw WASHINGTON (MNI) - Even with the decision ...

Fed’s Reifschneider: Studying MPol Impli’cns of Forclose Prob

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By Steven K. Beckner BOSTON (MNI) - A senior Federal Reserve Board economist said Friday that the Fed staff is studying, among other things, the implications of legal entanglements delaying home foreclosures. David Reifschneider, senior associate director of the Fed's Division ...

AUD/USD not the only commodity currency ripping lips off today

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USD/CAD has seen major short-covering today and has bounced to test its 10-day average after sliding below parity just a day ago. Canadian corporates have apparently been big buyers today (and those dollars will not be sold anytime soon) and specs have been scrambling to cover short positions. Oil has given ...

Something we can all agree on…

Posted:

Right, time for some tunes

Posted:

I'm done with this nonsense for the week. Let;s kick off the weekend...

USD/JPY edging toward resistance but EUR/JPY sales slow advance

Posted:

EUR/JPY has come lower along with EUR/USD and that is helping frustrate rallies in USD/JPY. We've edged to retest New York highs of 81.48 but are holding below 81.68, yesterday's high. A sustained break of that level suggests a near-term bottom is in place for USD/JPY. Offers are seen around ...

EUR/USD slips to 1.3937

Posted:

Long liquidation is the overriding theme this afternoon with large trailing stops triggered below 1.3975 and again below 1.3950/55. Look for offers toward the 1.3975/85 area near-term on rebounds.

US DATA: Sept-10 Tsy budget -$34.5b vs -$45.2b in….

Posted:

US DATA: Sept-10 Tsy budget -$34.5b vs -$45.2b in Sept-09, and this puts the FY10 total at -$1.294T vs -$1.416T in FY09. CBO ests receipts are rising and re-estimated TARP outlays lower, both favorable for the outlook. Prelim FY11 budget is est at -$908B, assuming tax cuts expire, and this ...

US deficit improves to $1.3 trl this year from $1.4 trln in 2009

Posted:

Deficit to GDP falls to 8.9% from 10% September deficit $34.5 bln from $45.2 in Sept 2009 24th straight monthly deficit, longest string in history

Treasury: To delay report until after G20

Posted:

Upcoming G20, ASEAN meetings will provide opportunity to make additional progress on securing stronger, more balanced growth Delay to take advantage of opportunities these important meetings provide Rebalancing global economy a multilateral challenge, not just the responsibility of the US or China.

EUR/USD approaches 1.3955 support

Posted:

1.3965 the low so far as the market continues to unwind longs. Many would view an outside day key reversal as a classic sign of a trend reversal though experience has shown us that they are far from a slam dunk. The are a tremendous buzzkill for the longs in ...

Obama getting heat from Dems on delay

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Senator Stabenow "disappointed" administration has again delayed report Senator Schumer says Congress will move legislation this year confronting China currency manipulation Will go ahead without Administration support if necessary

ECB Update: Rising Euro Another Road Block On ECB Exit Path

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FRANKFURT (MNI) - A sharply rising euro joins the "addicted" Eurozone banks as another obstacle blocking the European Central Bank's liquidity exit path, even as super hawk Axel Weber presses for new withdrawal measures. A potential second round of quantitative ...

Better to keep ‘em guessing

Posted:

For once, I think Geithner and Company are doing the right thing, if they in fact delay the semi-annual currency report. They can use the report as a bit of leverage in negotiations with China in the run up to the G20 meeting in Seoul where a potential currency deal ...

Analysis: Spending Review To Boost UK Govt Fiscal Credentials

Posted:

--Treasury Say Any 'Reprofiling' Of Cuts Will Be Just 'Tinkering' --IFS Says End Point Of Budget Plans Will Be Same As June 22 Budget LONDON (MNI) - The Spending Review to be announced by the government on October 20 will be a landmark in establishing the fiscal ...

Report to be delayed until November: Senate aide (Reuters)

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Looks like we’re in “sell first, ask questions later” mode

Posted:

If the market paid attention to that rumor that China will be branded a currency manipulator, it looks as though risk aversion is the play, rather than dumping the dollar. Reuters quoted "industry sources" in saying the report will be released at 1 pm ( misread the initial headline, thought it ...

Reuters: Ccy report delayed, quoting Senate aide

Posted:

Not sure why a Senate aide would know any more than a Treasury department spokesperson, but take it for what you will. I'd still expect the release at 1 pm unless you hear it from Treasury... I guess we are supposed to assume there is some backroom dealing going on...
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