Oct 28, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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EMU DATA: The Eurozone business climate index rose…

Posted:

EMU DATA: The Eurozone business climate index rose to +0.98 in October, its highest leve in over three years, from September's +0.76 figure, the European Commission reported on Thursday. -- For more information, please see Mainwire

EMU DATA: Economic sentiment in the Eurozone rose to.

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EMU DATA: Economic sentiment in the Eurozone rose beyond expectations to 104.1 in October from September's 103.2 print, the European Commission reported on Thursday. -- EMU October economic sentiment above MNI survey fcast median (102.8) -- EMU October consumer confidence unchanged at -11, as expected -- EMU October industry confidence ...

According to Big Investment bank, FX Could be a $10trln Daily Market

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A large European IB has just put out a piece that says foreign exchange turnover is set to reach $10trln a day by 2020, up from $4trln in 2010. They say this implies trading will grow by 10% a year as it has done so since 2001. The IB says ...

Decline in Germany’s SA Unemployment Slows Sharply in October

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SA Unemployment: -3k (pan-German), -4k (West), +1k (East) MNI survey median: -30,000 m/m MNI survey range: -40,000 to no change m/m -- FRANKFURT (MNI) - The number of unemployed in Germany continued to decline in October, though at a much slower pace than in September, the Federal Labour ...

ECB BLS: Banks Report Tighter Conditions On Firm Loans In 3Q

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BRUSSELS (MNI) - Eurozone banks tightened their standards for loans to businesses in the third quarter of this year compared with the second quarter, but the tightening wasn't as sharp as it had been from the first to the second quarter, according to the European ...

Clarify: UK Data Forecasts: Oct GfK, CBI; Sep BOE Lending

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--Repeats Upcoming UK Data Forecasts Item, Changes Title ...

UK Data Forecasts: Oct Nationwide, GfK, CBI; Sep BOE Lending

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...

EUR/USD Heading Back towards the Figure

Posted:

EUR/USD after making a fresh intraday high at 1.3853 an hour or so again is heading back towards 1.38 the figure trading at 1.3802 a few moments ago. Traders point to widening peripheral and spreads and a bigger than expected jobless fall in Germany although the unemployment rate remained the ...

Update: BOE Posen: Don’t Get “Too Excited” On Q3 GDP Numbers

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--Underlying Picture Still One Of "Weak Recovery" --Spending Cuts - "Material" Down Drag On Growth And Inflation --Says Risk Is More That BOE Does Not Do Enough QE Than Too Much --Sees "Significant Headwinds" From Austerity Measures --Urges Govt To Lean On State-Owned Banks To Lend --Expresses Scepticism On Strong Construction Data ...

GERMAN DATA: Germany Oct sa unemployment rate 7.5%…

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GERMAN DATA: Germany Oct sa unemployment rate 7.5% (MNI median 7.4%) -- Germany Oct sa unemployment -3k (MNI median -30k) -- Germany Oct nsa unemployment rate 7.0% vs Aug 7.2% -- Germany Oct nsa unemployment 2.945 mln vs Sep 3.031 mln

ECB Weber: Yuan Rise “A Welcome Further Step” in Flexible FX

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FRANKFURT (MNI) - European Central Bank Governing Council Axel Weber welcomed the recent appreciation of the Chinese yuan, calling it a "further step" towards enhancing exchange rate flexibility. "Market-oriented exchange rates that reflect underlying economic fundamentals contribute to global economic ...

BOE MPC Posen: Don’t Get “Too Excited” On Q3 Growth Numbers

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--Underlying Picture Still One Of "Weak Recovery" LONDON (MNI) - One should not get "too excited" about the stronger-than-expected UK Q3 growth data, Bank of England Monetary Policy Committee Member Adam Posen has cautioned. In an interview with The Times, Posen ...

Nasty Little EUR/JPY and USD/JPY Drop

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EUR/JPY is down around 60 pips in the last hour and  USD/JPY around 30 pips. Traders in London could not shed much light on the move only to say disappointment with move back below 81.50 and the continuing belief that the BOJ will not intervene. The BOJ meeting earlier might ...

Thank-you Sam for Your Considered Comment

Posted:

I will kick off Sam's request with my response as to the apparent overvaluation of the EUR/USD. Firstly I wholeheartedly agree with Sam's view that the markets expectation on the size of  QE2 is excessive and we are in for more position adjustment. I will take your mind back to Monday ...

FRANCE DATA: Sept +0.3% m/m, +4.2% y/y; Aug: +0.3%…

Posted:

FRANCE DATA: Sept +0.3% m/m, +4.2% y/y; Aug: +0.3% m/m, +3.5% y/y --Sept manufacturing PPI +0.4% m/m, +3.7% y/y --Sept oil product prices +0.8% m/m, +26.5% y/y --Sept industry import prices +0.3% m/m, +8.1% y/y See Mainwire for more details

USD/JPY Surprisingly Weak

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After closing in NY at 81.75, USD/JPY traded a tiny 3 pips higher in Asia easing below 81.50 a short time ago - low so far 81.43. Overnight USD/JPY got to 81.99 with market talk that orders were thick around 82.00. There is chatter that exporters are stepping up their ...

Germany’s SA ILO Employment Fell Back in September

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-- Results: Sep -3k, Aug +12k, Jul +8k, Jun +51K, May +71k FRANKFURT (MNI) - The number of employed in Germany dipped in September, while previous months' gains were revised upwards, the Federal Statistics Office reported on Thursday. After seven months of increase, September's ...

All Quiet on the Asian Front

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Asia never got out of second gear today although it did manage to sell a few US Dollar's with EUR/USD up around 50 pips from its NY close whilst USD/JPY is down around 20 pips. The market appears to have moved into Fed meeting mode although positioning still looks stretched ...

Nationwide: UK House Prices Fall 0.7% On Month In October

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--Nationwide: UK Oct House Prices -0.7% m/m; +1.4% y/y --Nationwide: UK Aug-Oct House Prices Down 1.5% 3m/3m --Nationwide: 3m/3m UK House Price Fall Largest Since Apr 2009 --Nationwide: y/y UK House Price Rise Weakest Since Sep ...

GERMANY DATA: Seasonally adjusted employment levels..

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GERMANY DATA: Seasonally adjusted employment levels fell by 3,000 in September to 40.434 million, the Federal Statistical Office reported on Thursday. Without taking into account seasonal trends, employment rose by 313,000 to 40.706 million. -- For more information, please see Mainwire
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