Nov 1, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Eurogroup’s Juncker: ECB Needs To Speak With One Voice; Press

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BERLIN (MNI) - Eurogroup chairman Jean-Claude Juncker has called on the European Central Bank to speak with one voice in public. ECB Governing Council member Axel Weber, who heads the German Bundesbank, has repeatedly criticized publicly the ECB's government bond ...

Roubini – US a Fiscal Train Wreck

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Nouriel Roubini might not be the worlds greatest forecaster on stocks, bonds and FX but he sure knows his economic stuff. If you have a spare 5 minutes this video is a good watch courtesy of CNBC.

Fed to Change the Extended Period Language

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Most analysts are not only looking for the inner details on QE at the Fed's Wednesday meeting but also a change in language. The Fed appears set to ditch the "rates to stay low for an extended period" for something more meaningful. This is not exactly my forte but say ...

Currencies Steady with AUD Grinding Away at the Topside

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It has been a rather tame last hour or so after EUR/USD and AUD/USD had popped their heads briefly above 1.40 and 99 cents respectively taking out a few weak stops in the process. EUR/USD peeled off over 50 pips from its high but the AUD/USD slid only 24 pips ...

Weak Stop Run above 1.40 and 99 cents in EUR/USD and AUD/USD Does Not Get Far

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Both EUR/USD and AUD/USD have backed off earlier highs at 1.4012 and 0.9908 respectively. Weak stops were tripped but follow-through activity was lacking. AUD/NZD is also back to 1.29 with perhaps a few nervous players (as mentioned earlier) regarding tomorrows RBA rate meeting.

Beaten to the Punch

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Bjkas has just put up a link in the "recent comments" section...................great mines think alike. This is one of the best pieces I found all day to read. Enjoy. Another Piece of the Yen Puzzle by Marc Chandler

USD/JPY Sinks Back to the Closing NY Price

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USD/JPY is back below 80.50 touching its closing NY price of 80.37 again. This mornings shenanigans are now no more than a one to two minute blip on a charting page. Is there anything we can take from the "flash Yen crash" - probably not but one suspects the market ...

Japan Oct New Vehicle Sales -26.7% Y/Y, 2nd Straight Drop

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TOKYO (MNI) - New vehicle sales in Japan fell 26.7% from a year earlier to ...

Australia’s RBA Kicks Off Heavy Week of Rate Meetings

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Without dwelling on all the other central bank meetings this week (Fed, BOJ, ECB, BOE to name just a few) Australia's RBA meets tomorrow - Melbourne Cup Day. After last Wednesdays Q3 CPI number, which came in much less than expected, the probability of a rate hike (as gleaned from ...

Very Steady Last Two Hours

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The Asian session started off very quiet then roared into the action on the Yen "flash crash" , settled then picked up steam once more on the China PMI number berfore returning to its earlier slumber. The stewards enquiry is obviously still taking place over the "flash crash" prompting a ...

Japan Sep Avg Wage +0.9% Y/Y Vs Aug +0.4%, 7th Rise In Row

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-- Japan Sep Average Base Wage +0.1% Y/Y Vs Aug -0.2% -- Japan Average Base Wage Posts 1st Y/Y Rise In 25 Months -- Japan Sep Real Average Wage +1.5% Y/Y Vs Aug +1.2% -- Japan Real Average Wage Posts 9th Straight Y/Y Rise -- Japan Sep Special Pay +12.1% Y/Y Vs Aug ...

EUR/USD stalls just below 1.4000

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EUR/USD took flight after the upbeat Chinese PMI data and reached 1.3998  on EBS before stalling. Trendline resistance (drawn off the 1.4160 and 1.4080 tops (comes in at 1.4004 on the hourly charts. Stops are spotted around the 1.4010 area, we hear. That's gonna do it for me folks...Peter will be along ...

S&P futures bid to the boots after China PMI

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An unexpected rise in Chinese PMI to 54.9 in October from 53.7 (52.9 was the consensus) has given risk appetites a boost. S&P futures are up nearly a full percent on the news and EUR/USD is back up to 1.3965. AUD/USD is at 0.9850.

Better than Expected China PMI Data Ignored

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It seems there is too much going on today (this week) with the release of much better than expected official Chinese PMI data summarily ignored by the market. The October reading came in at 54.7 vs. 53.8 in September; a median survey of results by Reuters had the number pitched ...

Japan now fueding with Russia

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After sparring with China all weekend, Japan and Russia are now going it...Lots of disputed islands floating around over there...

USD/JPY “Spoof” Will take Some Time to Sort Out

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Dealers say they will spending the rest of the day cleaning up the mess left by the USD/JPY spoof . Traders are calling the official high at 81.50 but it was all done and dusted in less than a minute and there are still plenty of positions to be cleaned ...

Just a HAG on my part…

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What's a HAG? A hairy-assed guess... I'm guessing that China bought some USD/JPY to protect their 80.00 barriers and got the ball rolling on the intervention talk... USD/JPY trades at 80.60 after reaching 80.50 for a split second. The trade prior to 80.50 was at 80.40, to give you some idea how ...

EUR/USD low 1.3894 before recovery

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EUR/USD fell to 1.3894 from about the 1.3975 level. Cable dropped to 1.5995 from 1.6040. AUD held up better, presumably because if there were intervention in USD/JPY, AUD/JPY would have been a major beneficiary....AUD fell to 0.9828 from 0.9865...

Reuters: MOF declines to comment on USD/JPY gyration

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They would have confirmed intervention if they were buyers...I think we have to conclude it was an error or a "spoof" by a big fund... You would have had to have entered your sell orders in advance to get them filled and then bought an absolute truckload of USD/JPY to spark ...

UK DATA: Hometrack: Deflation Returns To House Asking Prices

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--Hometrack: UK Oct House Asking Prices -0.9% m/m; -0.1% y/y ...
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