Oct 30, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ForexLive US Wrap-up; Choppy month-end, record low USD/JPY close

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US GDP rises 2.0% in Q3, inventories rise largely responsible Shots exchanged across North/South Korean border Chicago PMI rises to 60.6 in October from 60.4 in Sept; better than expected University of Michigan consumer sentiment index slips to final 67.7 from 68.2 (preliminary) in October; weakest since November 2009 Meeting between Chinese and Japanese ...

US DATA: Oct farm prices +8.1%…………………..

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US DATA: Oct farm prices +8.1%.

Let’s lighten the mood…

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Flight from UAE being escorted by US fighter jets into JFK

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"Out of an abundance of caution" security personnel say... A package originating in Yemen is said to be on board the flight.

USD/JPY threatening to close at all-time low

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USD/JPY trades just pips above its lows for this trend and heads into the weekend slightly below its all-time low closing level at 80.65. The BOJ's JPY index was at the highest level since we started paying attention after the last bout of intervention, so that should keep traders somewhat on ...

US Econs: Q3 GDP Unlikely To Change Fed Outlook,QE2 Decision

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--QE2 Likely To Be Incremental; Greater Impact On Infln Expectations By Brai Odion-Esene WASHINGTON (MNI) - U.S. economists agree that the release of data Friday showing a 2% advance estimate of third quarter GDP is unlikely to influence Federal Reserve officials at next week's Federal Open Market ...

Analysis: FOMC Must Decide If QE2 Effective, How Much To Do -3

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By Steven K. Beckner The FOMC would complicate its eventual "exit strategy," risk unanchoring inflation expectations and "risk undermining Federal Reserve independence" by buying more Treasury debt, Hoenig warned. "Not knowing what the outcome might be makes ...

Analysis: FOMC Must Decide If QE2 Effective, How Much To Do -2

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By Steven K. Beckner The cautious but still active Bullard approach seems like a possible point of compromise. As the Fed staff prepares briefing books for policymakers to peruse, incoming economic data have presented a mixed picture. ...

Analysis: FOMC Must Decide If QE2 Effective, How Much To Do

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By Steven K. Beckner (MNI) - As Americans go to the polls to choose their representatives next Tuesday, Federal Reserve policymakers will be holding a referendum of their own with potentially far-reaching consequences. The basic questions facing members of the Federal ...

Canadian provincial gov’t: Strategic concerns over BHP/Potash

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Saskatchewan's premier says he can't see any way to overcome "strategic concern" by adding conditions to BHP's Potash Corp. AUD and CAD are both well bid at the moment as the dollar slides across the board this afternoon. AUD should out-perform if the market feels the BHP/Potash deal won't go through ...

Gold breaks resistance; USD/JPY tests lows

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Gold has triggered stops above $1355, pushing as high as $1359 a short while ago. USD/JPY has fallen to 80.45 so far today, just 3 pips above the 80.42 lows posted on Monday. GBP/USD is extremely strong this afternoon as traders price out any hope for QE in the UK and price ...

There he goes again…

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Silvio Berlusconi caught with his pants down, again.

Between month end, cargo plane uncertainty, best stay away

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Month-end markets are notoriously volatile, especially on Friday's. Add to that the uncertainty amid multiple reports of suspicious packages on cargo flights, most which seem bogus, but early reports are often wrong, it makes sense to stay out of the markets unless you absolutely have to be involved.

EUR/GBP month-end boost short-lived

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EUR/GBP usually gets a reliable boost from month-end flows as the UK makes a payment to the EU on the last business day of the month. EUR/GBP got a short-lived boost to the 0.720 level late in the London afternoon but the gains did not last long and we've eased back ...

Government, opposition resume budget talks in Portugal

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The government has put a new proposal on the table, the opposition says. The budget vote is set for next Wednesday, the 3rd of November.

USD/JPY close to trend lows

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80.42 was the Monday low. 80.46 is the low so far today. A break to fresh lows is not expected to prompt a collapse as defense of 80.00 barriers is expected to be significant.

Bomb found on UPS flight from Yemen to Chicago

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Reuters reports that a bomb was found on a UPS cargo flight from Yemen to Chicago. The flight was on the ground in London when the discovery was made, CNN reports. Perhaps a bit of risk aversion on the news? UPDATE at 16:25 GMT: CNN now says no explosives found on plane ...

How can this be?

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Gerry is due to land in the States late this afternoon. Given his Murphy-like luck I would have expected the pound to plummet today...My guess it will slide before he gets his credit-card bill after a weekend shopping spree. Combining the savings in VAT and generally lower prices in the States, ...

Automaker said to have been the JPY buyer overnight

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Such is the plight of the JPY...Japanese investors continue to keep money close to the vest as the economy shows few signs of vigor. That domestic reisk0aversion keeps money from flowing from low-yielding JPY denominated markets to higher yielding overseas and emerging markets to the degree it did in better ...

Next Wk/US: FOMC, Jobs, Refunding,ISMs,Factory Ordrs,Bernanke

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By Theresa Sheehan PRINCETON (SMRA) - The week ahead is quite busy, encompassing the two-day FOMC meeting on Tuesday and Wednesday, the national elections on Tuesday, the Treasury's quarterly refunding on Wednesday and the monthly employment report on Friday. Over the course ...
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