Nov 24, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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China c.bank’s Hu: Will steer money, credit growth back to normal

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Capital inflows are boosting inflation and asset prices China faces challenges to keep credit growth within 2010 target

ECB Allots $60 Mln In 6-Day USD Liquidity Providing Op

Posted:

FRANKFURT (MNI) - The European Central Bank said Wednesday that it has allotted $60 million in its 6-day USD liquidity providing operation. The central bank said it received 1 bid. The minimum bid amount is $5 million. ...

Merkel: Germany Views Ireland’s Request For Aid As Positive

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BERLIN (MNI) - The German government supports Ireland's request for financial assistance from its European partners and the International Monetary Fund, German Chancellor Angela Merkel declared Wednesday. "We have said the stability of the euro as a whole has to ...

Euro zone September industrial orders weaker than expected

Posted:

Down -3.8% m/m, demonstrably weaker than median forecast of -2.5%.  Y/Y rate +13.5%, weaker than median forecast of +14.7% EUR/USD has slipped back very slightly in wake of data, presently at 1.3313.

Ifo’s Germany Nov Business Morale Index Hits Record High

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November MNI analysts survey October September ...

Ifo’s Germany Nov Business Morale Index Hits Record High

Posted:

November MNI analysts survey October September ...

Middle East buys EUR/GBP

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Guess someone has to. We're presently at .8440, up marginally from sesson low .8429. And to think I was bullish the cross up at .8550+ Ummm, ho hum.  And I was pretty bearish EUR/USD as well. Should have known better. Pillock.

UK Analysis: Q3 GDP Unrevised As Net Trade Boosts Growth

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--1st Revision Q3 GDP +0.8% q/q; +2.8% y/y --Median forecast: +0.8% q/q; +2.8% y/y LONDON (MNI) - UK economic output was unrevised in the third quarter, with GDP growth boosted by a strong rise in exports, according to figures released by National Statistics Wednesday. ...

UK DATA: 1st Revision Q3 GDP +0.8% q/q; +2.8% y/y….

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UK DATA: 1st Revision Q3 GDP +0.8% q/q; +2.8% y/y --Median forecast: +0.8% q/q; +2.8% y/y ------------------------------------------------------------------------ GDP went unrevised in Q3 rising 0.8% q/q and 2.8% y/y, in line with the median forecast. New data on spending showed that net trade was the largest contributor to growth q/q adding 0.4pp. Household ...

UK Q3 GDP unrevised at +0.8% q/q, +2.8% y/y

Posted:

As expected. I had been eagerly awaiting a revision to the Q2 data.  Nothing forthcoming.  I've just been advised by a contact that Q2 GDP will only be revised on release of Q3 final data on December 22. We live, we learn.  Whoops.

Russia buys EUR/USD

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Having breached 100 dma at 1.3298 and tripped stops through 1.3290 and got as low as 1.3284, we've bounced back quickly to 1.3315 at writing.  Russia has been notable buyer on latest uptick.

Real money buying EUR/CHF

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In recent trade. We're up at 1.3275 from session low 1.3254. The buying is being labelled "profit-taking"

German November Ifo stronger than expected

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Business climate index 109.3, demonstrably stronger than median forecast of 107.4. Not that it's helping the euro any, EUR/USD presently down at 1.3325 having been as low as 1.3313. The 100 dma average looms at 1.3298, with sell stops seen gathered through 1.3290.

ITALY DATA: Italy retail sales fell 0.2% m/m in……

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ITALY DATA: Italy retail sales fell 0.2% m/m in seasonally-adjusted terms as a result of a drop in non-food sales, following m/m gains of +0.1% in both August and July and a +0.5% m/m rise in June. In unadjusted y/y terms, retails sales rose 0.3%, down from +0.8% in August. --The three month-moving average rose ...

UPDATE 2: Mersch: Markets Can Distinguish Among EMU Countries

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--Updates story transmitted at 02:20 ET PARIS (MNI) - European Central Bank Governing Council member Yves Mersch on Wednesday sought to downplay the danger of contagion from the Ireland crisis, saying that financial markets could ascertain the differences among EMU countries. ...

China buying kiwi

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In recent trade. NZD/USD at .7605 presently

USD/JPY gives ground as risk aversion climbs, US treasury yields come lower

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We're at 82.95 from around 83.25 at start of session.  Risk aversion is on the increase, concerns about euro zone peripheries and situation on Korean peninsula still very much to the fore. US treasury yields are lower as you'd expect on increased risk aversion, and this will be pressuring USD/JPY. There will ...

IMF Off’l: Greece Might Return To Mkts Already In 2011: Press

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FRANKFURT (MNI) - It is possible Greece will be able to return to markets already in 2011, even though it is certain that for many years to come it will have to pay higher yields than before the crisis, IMF Deputy Director for Europe Poul ...

IMF Off’l: Greece Might Return To Mkts Already In 2011: Press

Posted:

FRANKFURT (MNI) - It is possible Greece will be able to return to markets already in 2011, even though it is certain that for many years to come it will have to pay higher yields than before the crisis, IMF Deputy Director for Europe Poul ...

Spanish/German 10-year govt bond yield spread widens to 251 bps, 13 bps wider on day

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Portuguese/German 10-year govt bond yield spread widens to 462 bps, 12 bps wider on day Irish/German 10-year govt bond yield spread widens to 620 bps, 10 bps wider on day Those periphery concerns still alive and kicking.  EUR/USD making new session low of 1.3346 at writing.
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