Dec 7, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Portugese Treasury Secretary on the wires…via Reuters…and there’s more…

Posted:

says that families housing debts are not worrying at the moment Portugal has to be disciplined in control of public finances says the key is to overcome structural problems in the monetary union necessary to create a future European Treasury solidarity between European countries not sufficient joint European bond issues is a fundamental issue more... Portugal should not ...

UK DATA: Oct manufacturing output +0.6% m/m; +5.8%…

Posted:

UK DATA: Oct manufacturing output +0.6% m/m; +5.8% y/y; median +0.3;+5.4 --Oct industrial production -0.2% m/m; +3.3% y/y; median +0.2; +3.8 ------------------------------------------------------------------------ Manufacturing output rose 0.6% m/m in Oct, well above the 0.3% median forecast and the strongest increase since March. Manufacturing registered a 5.8% increase on October 2009. Industrial production actually fell ...

Nov Manufacturing Prod +0.60% , Nov Ind Production -0.20%

Posted:

The former was the biggest rise since March, the latter biggest fall since June Cable looked firm just before the figures and has settled around 1.5780 about 10 pips off the high

UK news in ten minutes

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November Manufacturing Production expected to come in at 0.30% previously posted 0.10% in October November Industrial Production expected also at 0.30% against October 0.40%

Quick look at the order board

Posted:

USD/JPY: Stops above 83.10 AUD/USD: Heavy offers at 1.000 Cable: Offers 1.5790/00; stops tight above 1.5810 That's it from me for today. Dave will keep you company for a few hours before the sorely-missed Gerry returns.

Silver makes fresh 30-year highs before pulling back slightly

Posted:

New 30-year highs were made in the last few hours around 30.37 before prices pulled back marginally. Is there anyone called Bunker-Hunt operating in the Silver market these days?

Germany Seeks Bids For E5 Bn Top-Up Of 1% 2Y Schatz Dec 8

Posted:

FRANKFURT (MNI) - The German federal government is seeking bids for the E5 billion top up of its 1.00%-coupon, two-year notes with a December 2012 maturity, the Bundesbank announced Tuesday. Bids are due by 1000 GMT on Wednesday, with results ...

ECB’s Stark: Rejects E-Bond idea

Posted:

Juergen Stark says that there is no currency crisis in the EU, rather a Sovereign debt crisis in some member nations. He rejects the idea of an E-Bond and dismisses talk of a more extensive bond-buying programme.

Luxembourg’s Frieden: EFSF Has Sufficient Capacity For Now

Posted:

BRUSSELS (MNI) - The European Financial Stability Fund has sufficient funds for now, Luxembourg's Minister of Finance Luc Frieden said on Tuesday. The E440 billion EFSF was set up earlier this year to provide loans to needy Eurozone states. So far only Ireland ...

Irish budget speech starts at 3:45pm in Dublin

Posted:

The budget presentation begins at 3:45pm in Dublin with a vote thereafter. There is the possibility of some heavy public protests which could disrupt proceedings but all signs are that the bill will pass later today.

EUR makes new session highs

Posted:

Now we can really miss Gerry and his superb market contacts in London who could tell us exactly who's doing the buying. EUR/USD has made new highs for the day and next resistance is an hourly high at 1.3380.

Cable: Talk yesterday of heavy offers near 1.5800

Posted:

I know that the interbank prop market was short ahead of these offers yesterday and would have booked an easy 100 pips overnight. Now they get the chance to do it all over again, presuming that the offers are still live that is. Unfortunately I have no fresh information. We ...

USD/JPY: Stops now building above 83.10

Posted:

It is typical of December markets to take out stops on both sides; those under 82.50 were triggered in Asia and now I'm hearing that there are plentiful stops above 83.10 which may come in for some attention if the USD can catch a bid tone for a short period.

EUR easing slightly on the crosses in early European trade

Posted:

EUR/GBP and EUR/AUD are close to session lows and whilst there may be periods of short-covering, nobody feels overly confident sitting on long EUR positions. Swiss unemployment data has just been released, coming in exactly as expected at 3.6% and other data can be viewed here.

Survey: Japan Oct Current Account Surplus +9.3%, Up 2nd Mth

Posted:

-- See Separate Table For Details Of Individual Forecasts TOKYO (MNI) - Japan is expected to have posted a current account surplus of Y1.525 trillion in October, up 9.3% on year, the ...

Irish budget set to pass

Posted:

For those just waking up in Europe, the main risk event today was seen to be the Irish budget which needs to be implemented in order to comply with the EU/IMF bailout agreement. This article in the Irish Times suggests atht it will indeed pass. Gerry is shifting forward onto NY ...

Japan Oct Coincident Index -1.4 Pt M/M, 2nd Drop In Row

Posted:

-- Japan Oct Prelim Leading CI -1.4 Pt M/M, 4th Drop In Row -- Cabinet Office Downgrades View: CI Shows Japan Econ Pausing TOKYO (MNI) - Japan's coincident composite index (CI), which reflects current business conditions, fell a preliminary 1.4 points to 100.7 in October, posting the ...

ForexLive Asian market wrap: Talk of Chinese rate hike later this week

Posted:

Strong rumours in the market of a rate hike in China later this week RBA leaves rates and policy on hold UK retail sales show weak growth again Irish budget likely to pass later today California declares fiscal state of emergency Regional markets mixed; Gold $1423/oz; Oil $89/bbl The Asian market focussed initially on the Californian ...

JAPAN DATA: From monthly economic indicators by the..

Posted:

JAPAN DATA: From monthly economic indicators by the Cabinet Office: --Japan Oct Coincident Index -1.4 pt M/M, 2nd Drop In Row --Japan Oct Prelim Leading CI -1.4 pt M/M, 4th Drop In Row --Japan Cabinet Office Downgrades Assessment --Japan Cabinet Office Says CI Shows Japan Economy Pausing

Around the markets: Mixed results on regional bourses

Posted:

Tokyo and Shanghai are about 0.3% lower whereas HK, Seoul and Sydney are around 0.5% higher. Gold is steady at $1423/oz, consolidating overnight gains. Oil is -0.3% on the session but still trading above $89/bbl. Talk of a Chinese rate hike later this week has been the main factor in ...
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