Nov 11, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Portuguese/German 10 year govt bond yield spread rsies over 500 bps for first time

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Portugal 5 year cds hits record 505 bps Irish/German 10 year govt bond yield spread hits 680 bps for first time

Japan Survey: Economists See Slower GDP, CPI Gains Ahead

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TOKYO (MNI) - Economists have revised down their ...

Update: German Govt Sources Say Eurozone Mulling Ireland Aid

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--Adds Comments From Irish Central Bank Governor, Recent Market Moves FRANKFURT (MNI) - Eurozone governments are preparing for a possible Greece-style rescue for Ireland although the country has not yet asked for financial assistance, German daily Handelsblatt reported Thursday, citing German government sources. ...

ECB Forecasters Survey: 2010 GDP +1.6%, 2011 GDP Fcast +1.5%

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FRANKFURT (MNI) - The Eurozone economic recovery will continue over the longer term, though the pace is expected to slow modestly next year, the European Central Bank's survey of professional forecasters showed on Thursday. Polled by the ECB between the ...

Talk of large Gold/EUR order having gone through

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There is talk that a "big" order to buy Gold/sell euro has been going through the market this morning.

Someone just told me something interesting….

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Apparently Portuguese bonds are now trading through the level that can trigger higher margin requirements from LCH Clearnet (London Clearing House), as happened to Ireland last week.  Won't be helping the euro. We're at session low 1.3719.

German Govt Sources Say EMU Preparing For Ireland Aid: Press

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FRANKFURT (MNI) - Eurozone governments are preparing for a possible Greece-style rescue for Ireland although the country has not yet asked for financial assistance, German daily Handelsblatt reported Thursday, citing German government sources. "The rise in Irish yields are a ...

Irish/German 10 year govt bond yield spread rises 20 bps to euro life high of 665 bps

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Just no let up.  Worries surrounding euro zone peripherals not abating, infact getting worse.  India couldn't hold back the tide in EUR/USD.  Stops mentioned in opening commentary through 1.3750 have been duly triggered and we're down at 1.3720. Dutch bank notable seller in last push lower.  More stops through 1.3700 and ...

USD/CHF touch lower on day, stops noted

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USD/CHF down at .9680 from around .9695 when I arrived. Hearing sell  stops through .9650.

India and Korea seen on bid in EUR/USD

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Both Reserve Bank of India and Bank of Korea have been seen on the bid down at 1.3750. We're presently at 1.3760, up from 1.3749 session low.

Portuguese/German 10 year govt bond yield spread rises to record high of 489 pips

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European stocks have turned lower.  EUR/USD slipping, down at 1.3760. UPDATE:  Talk of Reserve bank of India on the bid at 1.3750. Will they turn back the tide? Only time will tell. Watch this space.

Geithner: Upward pressure on yuan reflects confidence, won’t go away

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Pressure on yuan will end up in higher inflation, asset prices if currency won't move China will be more confident in allowing yuan rise if competitors' currencies rise too China can't keep resisting market forces on yuan Emerging markets with flexible forex see disproportionate pressure from capital flows

BIS buys EUR/USD

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Not sure of level. Certainly below 1.3770. Guess they're taking their profit.

USD/JPY steady eddie so far

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USD/JPY sitting at 82.24, hardly changed in past 3 hours or so.  Just picking up talk Dutch name notable on the bid at present. I'm pretty sure it's the same Dutch entity that was in buying early in yesterday's rally.

EUR/GBP slips lower, talk of stops close by

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EUR/GBP down at .8525 from early .8540.  Earlier picked up talk of stops thru .8520.

Well isn’t this nice….

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Kinda quiet ain't it, which is a relief as one of my laptops is playing up.  EUR/USD sits at 1.3790,  selling by the BIS above 1.3800 helping curtail early rally. Talk of sell orders clustered up around 1.3820.  Still feel stops will be parked around 1.3825, but as yet can't get confirmation ...

Update: Paramo:Cld Lift Rates Before Nonstandard Measures End

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--Adds Comments On Spain PARIS (MNI) - The European Central Bank could hike interest rates before removing all of its crisis-induced liquidity measures, but there is no inflation pressure at the moment, ECB Executive Board member Jose Manuel Gonzalez-Paramo said in a newspaper interview published Thursday. ...

ECB Paramo: Could Lift Rates Before Nonstandard Measures Gone

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PARIS (MNI) - The European Central Bank could hike interest rates before removing all of its crisis-induced liquidity measures, but there is no inflation pressure at the moment, ECB Executive Board member Jose Manuel Gonzalez-Paramo said in a newspaper interview published Thursday. ...

Russia says situation in global economy “unstable and unbalanced”

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Worried by decisions by some countries to weaken their currencies Excess liquidity created by developed countries creates serious problem for emerging markets Does not support current account targeting Developing countries should use "necessary regulation" to avert negative effects of inflows
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