Oct 27, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Eurozone Sept M3, Private Sector Lending Slower Than Expected

Posted:

September sa M3: +1.0% y/y M3 sa 3-mo avg: +0.8% y/y SA private loans: +1.2% y/y MNI survey median: September sa M3: +1.4% y/y M3 sa 3-mo avg: +0.9% y/y SA private loans: +1.5% y/y MNI survey range: September sa M3: +0.7% to +1.5% y/y M3 sa 3-mo avg: +0.9% to +1.2% ...

ECB Stark Warns Of Risks From Low Int Rates Over Long Period

Posted:

BERLIN (MNI) - ECB Executive Board member Juergen Stark on Wednesday became the latest in a succession of Governing Council members to warn that keeping interest rates in the Eurozone low for too long is risky. In the text of ...

Update: BOE Posen: Business, Consumers Face Serious Pressures

Posted:

--Adds Detail To Version Transmitted At 0802 GMT --Economy Will Ultimately Recover; Question Is Can We Speed It Up --Economic Fundamentals Are Sound; Currency, Interest Rates Are Stable ...

BBK’s Zeitler: Basel III Won’t Affect Credit Supply For Firms

Posted:

By Thomas Widder BERLIN (MNI) - Stricter capital rules set out under the Basel III banking reform framework are a challenge for the financial industry, but the credit supply for businesses will not be affected negatively, Bundesbank Vice President Franz-Christoph Zeitler told Market News International on ...

BOE Posen: Business, Consumers Still Facing Serious Pressures

Posted:

...

Germany: Brandenburg Oct CPI Flat M/M; Hesse CPI -0.1% M/M

Posted:

Brandenburg CPI October: flat m/m, +1.0% y/y September: -0.1% m/m, +1.1% y/y --- Hesse CPI October: -0.1% m/m, +1.0% y/y September: ...

ECB’s Stark: Financial crisis not over yet

Posted:

Need more de-politicisation of decision-making, graded automatic sanctions for rule breakers The normalisation of money markets has continued Remaining ECB support measures will not be kept in place longer than necessary Current ECB monetary policy remains accomodative, still appropriate Sees neither inflation nor deflation risks Keeping interest rates too low for too long carries risks Euro ...

China buys EUR/USD

Posted:

In recent trade.  We're presently at 1.3795. Maybe they know they're not going to reval the CNY  ;)

BOE’s Posen: If UK recovery was going to be inflationary, would have been evident by now

Posted:

Financial sector is not fixed yet or else would be better supporting recovery

ITALY DATA: October sa mfg morale 99.8 vs sep 98.6…

Posted:

ITALY DATA: October sa mfg morale 99.8 vs sep 98.6 (revised from 98.4) --Oct mfg morale above expected; MNI survey median 98.0 --Oct mfg morale is at highest level since may 2008 --Oct sa mfg orders current level -22 vs sep -26 (revised from -27) --Oct sa export ...

Italy October business confidence rises to 99.8 from revised 98.6 in September

Posted:

Much better than median forecast of 98.5. EUR/USD at 1.3790, up from session low 1.3772, with middle eastern buying noted in recent trade.

US treasury yields climbing

Posted:

Helping support USD/JPY, which is presently at 81.90, just off session high 81.96. I guess market surmising that a Chinese reval of CNY could herald less aggressive QE by Fed next week. Has a deal been struck. The conspiracy theorists will be having a field day.

ACB buys cable

Posted:

Reports Asian sovereign has stepped in buying cable in recent trade.  We're at 1.5768, slightly off session low 1.5763.

BIS buys EUR/USD again

Posted:

Around session low 1.3772. Market remains unsettled by Chinese reval rumour.

Germany: Saxony Oct CPI Flat M/M; Below Pan-German Forecast

Posted:

Saxony CPI October: flat m/m, +1.4% y/y September: +0.1% m/m, +1.5% y/y --- Pan-German CPI MNI median forecast: +0.1% m/m, +1.3% y/y MNI forecast range: flat to +0.3% m/m September: ...

Lets have a rumour, lets have a rumour……

Posted:

Rumour, apparently out of Singapore, that China preparing to revalue CNY this weekend. Take it for what you will. If they were to revalue, result should be less need for Asian countries to weaken their home currencies. So less dollars needing to be diversified into likes of EUR/USD.  Timely rumour given the 1.3800 ...

FRANCE DATA: Sept sa consumer spending on mfg goods..

Posted:

FRANCE DATA: Sept sa consumer spending on mfg goods +1.5% m/m, +1.1% y/y -- Above expected; MNI analysts survey median forecast +0.5% m/m -- 3Q spending +1.2% q/q; 2Q -0.8% q/q -- August spending unrevised at -1.6% m/m -- For more information, please see Mainwire

French September consumer spending +1.5% m/m

Posted:

Demonstrably stronger than median forecast of +0.4%.  Not that the market gives a monkeys. EUR/USD at 1.3795 having been as low as 1.3785.

Well, didn’t take as long as I thought

Posted:

Barriers gone at 1.3800.  We've been as low as 1.3795, presently back at 1.3802 as those who pushed to take out barriers book profits. Talk buy orders clustered down at 1.3780, stops through 1.3770 before more buys orders at 1.3750.

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