Forex technikal and fundamental analysis: Your forexlive.com ENewsletter

Dec 16, 2011

Your forexlive.com ENewsletter

Euro zone October trade surplus 1.1 bln
ECB’s Nowotny: ECB has taken massive steps to ease tensions
Much talk of early Chinese reserve requirement ratio (RRR) cut
BoE King: Anchored Expectations Debt-Inflation Spiral Risk
ECB Announces Two 1-Day Liquidity Providing Fine Tuning Ops
Periphery/German bond spreads narrow some more
France’s Fin Min:2011 Deficit Goal To Be Met Even If Downturn
Italy PM Monti: “Totally shares” fiscal discipline agenda
Periphery/German bond spreads narrow in early trade
Euro zone IMF plan raises risk for Germany, Bundesbank warns
FRANCE DATA: December mfg sentiment 94 vs November…
Rumour, rumour!!!
MNI Survey: Japan Nov Trade Deficit Seen Wider at Y442 Bln
French FinMin Baroin: France to reach deficit targets even if growth turns negative
ACEA: EMU New Car Registrations Down 3.3% Y/Y In November
EMU DATA: EMU15 November new car regs -3.3% y/y; on..
Eurostoxx futures rise +0.3%
Sarkozy rival calls ECB key to saving euro
European stocks seen opening firmer
Talk of ‘nuclear default’ sums up Left’s anger at EU dictates

Posted:

Pretty much in line with Reuters’ median forecast of 1.0 bln. Offset by Septembers’ surplus being revised down to 2.7 bln from previous 2.9 bln.

ECB’s Nowotny: ECB has taken massive steps to ease tensions

Posted:

Should give them a chance to work.

Much talk of early Chinese reserve requirement ratio (RRR) cut

Posted:

Some talk one could come as early as this weekend. One Chinese contact told me there is talk it could even come on Christmas Day. Nice Christmas present :)

BoE King: Anchored Expectations Debt-Inflation Spiral Risk

Posted:

ROME (MNI) – Keeping inflation expectations under control serves to limit the danger of a debt-inflation spiral, Bank of England Governor Mervyn King said Friday. Speaking at a conference in the Italian capital, King said: “By anchoring inflation expectations, monetary policy can minizmize the risk of the kind of debt-inflation spiral which we have been [...]

ECB Announces Two 1-Day Liquidity Providing Fine Tuning Ops

Posted:

FRANKFURT (MNI) – The European Central Bank said Friday it has decided to conduct two one-day liquidity providing fine-tuning operations, the first one to be allotted on December 20 and the second on February 28 of 2012. Each of the operations will settle the day after allotment and will mature the day after settlement. The [...]

Periphery/German bond spreads narrow some more

Posted:

EUR/USD recovers to 1.3030. Just being told “good size” stops through 1.3050 now. Something of a change. Italian/German 10 year bond spread has narrowed into 441 bps Spanish/German 10 year bond spread has narrowed into 326 bps

France’s Fin Min:2011 Deficit Goal To Be Met Even If Downturn

Posted:

PARIS (MNI) – French Finance Minister Francois Baroin said Friday that France would meet its deficit target for 2011 even if forecasts that the economy has begun to contract proved to be true. A fourth quarter decline in the economy “will not change anything” in the government’s ability to meet its 5.7% deficit target for [...]

Italy PM Monti: “Totally shares” fiscal discipline agenda

Posted:

Short-termism can encroach even amid discipline Eurozone should take long-term view, not just feed “hunger for rigour” of some countries Risk that euro currency leads to conflicts exists We must avoid euro zone crisis increasing conflict between North and South Europe

Periphery/German bond spreads narrow in early trade

Posted:

Italian/German 10 year bond spread has narrowed to 451 bps from 463 bps I jotted down first thing. Spanish/German 10 year bond spread has narrowed to 336 bps from 351 bps I jotted down first thing. Doesn’t appear to be too much concern about imminent downgrades there.

Euro zone IMF plan raises risk for Germany, Bundesbank warns

Posted:

Dow Jones reported about half an hour ago on story in FT Deutschland. BUBA apparently worried that plan to expand IMF’s role in fighting crisis could endanger Germany’s aid to the region. Under international rules IMF must always be repaid first, and the fear is that the euro zone’s fund would only recoup part of its [...]

FRANCE DATA: December mfg sentiment 94 vs November…

Posted:

FRANCE DATA: December mfg sentiment 94 vs November 96 (95) – Above expected; MNI analysts survey median forecast 93 – Execs’ own-company outlook -2 vs November -5 (-6) – Sector production outlook -37 vs November -35 – See MNI MainWire for details

Rumour, rumour!!!

Posted:

What would life be like if we didn’t have the odd rumour now and again. Now I know some of you don’t like rumours, so if you don’t then don’t bloody read this. Talk doing the rounds S&P to downgrade Spain and Italy on the London close and leave France for now. Take it for [...]

MNI Survey: Japan Nov Trade Deficit Seen Wider at Y442 Bln

Posted:

– See Separate Table For Details Of Individual Forecasts TOKYO (MNI) – Japan is expected to have posted a sixth trade deficit for the year in November worth Y442.4 billion, compared with a Y280.2 billion deficit in October and a Y157.6 billion surplus a year earlier, according to the median forecast of economists surveyed by [...]

French FinMin Baroin: France to reach deficit targets even if growth turns negative

Posted:

Good show.

ACEA: EMU New Car Registrations Down 3.3% Y/Y In November

Posted:

FRANKFURT (MNI) – Eurozone new car registrations rose by more than 14.5% in November to 795,719, but were still 3.3% lower on the year, the Association of European Automobile Builders (ACEA) reported on Friday. Over the first eleven months of the year, 9.34 million cars were registered compared with 9.44 million over the same period [...]

EMU DATA: EMU15 November new car regs -3.3% y/y; on..

Posted:

EMU DATA: EMU15 November new car regs -3.3% y/y; October -2.1%: based on ACEA – ACEA: EU-15 November new car registrations -3.2% y/y – ACEA: EU-15 +EFTA November new car registrations -2.7% y/y – ACEA: November car regs Germany +2.6% y/y; France -7.7%; UK -4.2% – ACEA: November car regs Italy -9.2% y/y; Spain -6.4% [...]