Dec 28, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Italian Auction results…

Posted:

Italy sold a target total of  Euros 9 bln  of 6 month BOT’s (June 2012), bid to cover 1.691 (vs 1.47 prev), yield 3.251% (vs 6.504% at end Nov) Much improved yield and EUR/USD leaps another 3 pips higher!

ECB’s Weidmann: Euro Is Stable; Germany’s Outlook Good: Press

Posted:

HAMBURG, Germany (MNI) – There is no reason for despair over the euro or economic prospects for Germany, according to ECB Governing Council member Jens Weidmann. The euro is more stable than the Deutchmark, the president of the Bundesbank told the German weekly Stern, arguing that there was “no reason at all to succumb to [...]

Iran navy chief: Shutting off Gulf “very easy”

Posted:

Habibollah Sayyari, Iran’s top naval commander, says “closing the Strait of Hormuz for Iran’s armed forces is really easy…..or as Iranians say it will be easier than drinking a glass of water” The commander adds “but right now, we don’t need to shut it as we have the Sea of Oman under control, and we [...]

What’s out there in the way of orders, levels etc….

Posted:

Morning all, not a great deal to be honest, but.. EUR/USD- Offers 1.3080/00 and larger up at 1.3120. Bids from 1.3020 down to 1.3000 with sell stops on a break of 1.3000 ahead of more bids 1.2980 and 1.2960 GBP/USD- Offers 1.5680/00 and larger up at 1.5750/70. Bids  1.5650 and 1.5600/10 USD/JPY- Offers 78.00/10 and [...]

Italian/German 10 year bond yield spread narrows ahead of auctions

Posted:

Down to 486 bps from the 505 I jotted down first thing. Elsewhere, Spanish/German 10 year bond yield spread has narrowed to 315 bps from 338 first thing. EUR/USD meanwhile sits at 1.3073, up a whole 8 pips from when I first sat down. Roll on 2012!!!

ECB’s Weidmann: ECB 3 year loans ‘unusual’ but ‘necessary’ – Stern

Posted:

Sees no reason to panic Opposes ‘state financing with printing press’ Sees German household income rising 3% in 2012 Big banks must be more strictly regulated Bloomberg reporting.

Swedish November retail sales +0.8% m/m, +0.7% y/y

Posted:

Stronger than Reuters’ median forecasts of -0.3%, -0.9% respectively.

UK jobs outlook is the ‘worst for 20 years’

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Happy Dayz

China ForMin: Yuan flexibility has increased since June 2010

Posted:

China’s foreign trade is balanced overall (guess I must be missing something) China to keep increasing yuan flexibility, domestic consumption

European stocks seen opening flat to very marginally lower

Posted:

Financial bookies see FTSE opening flat,  DAX down around -0.2% and CAC 40 down around -0.4%.

Ideas Corner/ December 28th

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Got any ideas you want to share with your fellow readers, here’s where to stick ‘em.

Japan Average Gasoline Price Posts First Fall in Three Weeks

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TOKYO (MNI) – The average price of regular gasoline in Japan this week stood at Y143.4 ($1.84) per liter, or $6.99 per gallon, down from Y143.6 the previous week, and marking the first fall in three weeks, data released by the Oil Information Center showed on Wednesday. The average price of high-octane gasoline stood at [...]

Russia rigged an election? You don’t say?

Posted:

The Wall Street Journal has analyzed the results of Russia’s election. The no-doubt shocking results: A comprehensive examination of the full results from Russia’s nearly 100,000 voting precincts reveals statistical anomalies that experts say are consistent with widespread vote-rigging.

Asia-Pacific Wrap: Japanese slowdown accelerating

Posted:

Japan industrial output -2.6% vs -0.8% exp Japan household spending -3.2% y/y vs -1.1% exp Japan retail sales -2.3% vs +0.1% exp Japan unemployment 4.5% and core national CPI -0.2% y/y, both as expected US Treasury refrains from naming China a manipulator, takes issue with Japanese intervention Japan responds, says it will not change FX [...]

Thai floods halved industrial output

Posted:

November manufacturing output fell 48.6% year-over-year., according to the Industry Ministry. The floods created a blip of technology manufacturing that caused backlogs in Japan and the rest of the world. Thai manufacturing won’t fully recover until at least 2013, the ministry forecasts.

What do Mozambique and Paraguay have in common?

Posted:

They hosted the two strongest currencies of 2011. In the spirit of Jamie’s earlier trivia, who can tell me the names of the currencies in those countries (without looking it up)? The three weakest were the lira, rand and rupee.

China headlines

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China Securities Journal: government spending is expected to grow faster in 2012 than 2011 China Daily: officials looking to crack down on insider trading People’s Daily: China will make changes to its consumption tax, which covers cigarettes, alcohol, cosmetics and jewellery, an official said without specifics People’s Daily: China to raise subsidies to rural families [...]

Japan not backing down to US on FX intervention

Posted:

A Japanese govt official quoted by Reuters: Japan will not change its stance on taking appropriate action in the FX market, if needed Authorities have communicated with counterparts in other countries will continue to do so This is a response to US comments about Japan in the Treasury’s semi-annual report on FX manipulation.

The Shanghai Composite looks weak heading to 2012

Posted:

I just saw some news crossing about Citic Securites, the largest broker in mainland China. They are closing their prop desk due to losses estimated at 3B yuan this year. The culprit was the 23% drop on the Shanghai Composite index. I would also shut down a desk that could only make money on the [...]

Japan Nov Average Wages Fall 1.0% Y/Y Vs Oct Unchanged

Posted:

– Japan Nov Average Base Wages Rise 0.3% Y/Y, Vs Oct -0.4% – Japan Nov Overtime Pay Rises 1.3% Y/Y, Vs Oct +2.9% – Japan Bonus And Other Special Pay Dn 22.4% Y/Y, Vs Oct +7.4% TOKYO (MNI) – Total average monthly cash earnings per regular employee in Japan fell 1.0% y/y to Y276,218 in [...]
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