I was overwhelmed by the response of those interested in careers in the FX market so whilst I’m no expert, I’ve tried to enlist the help of some who are, namely the HR department of a major bank and the biggest online jobs agency in the FX world. I’ve had a fair bit of experience in [...]

USD/JPY tumbles to post-WWII low of 75.78 before recovering to close near 76.10 Troika of EU, ECB and IMF say Greece has taken a turn for the worse Despite worries, EU approves release of sixth tranche of aid of EUR 8 bln Troika sees PSI of 50-60% needed China Investment Corp chair; Europe offers value [...]

By Denny Gulino WASHINGTON (MNI) – Though not of the scope of Gov. Daniel Tarullo’s proposal that large-scale MBS purchases by considered, Federal Reserve Vice Chairman Janet Yellen Friday raised the possibility of Fed securities purchases across a “wide spectrum” of maturities, not just the Operation Twist lengthening of maturities. Saying that the purchase of [...]

BRUSSELS (MNI) – The meeting of Eurozone finance ministers broke up Friday evening with little apparent progress on ways to leverage the firepower of Europe’s bailout fund, the European Financial Stability Facility (EFSF). “We are discussing some options but we have to continue working with the experts,” Spain’s Finance Minister Elena Salgado said as she [...]

1.3902 to put a cherry on the sundae…

We know that the Euro group is down to two options on leveraging the EFSF. Now, a senior Euro zone source tells Reuters that neither option being considered involves funds from the ECB. The market reacted positively  yesterday to the suggestion that the EFSF and its permanent successor could be combined. That hopefully is one [...]

Looks like we’re making one last run at the upside as the session draws to a close. Stocks are very well-bid, underpinned by dovish comments suggesting QE3 remains a viable option among the Fed Governors. Yellen and Tarullo both held out the option over the last 24 hours. The S&P is up 1.6%, about 5 [...]

But she did not elaborate on which two remain.

Check out our handy Who’s Who feature at the top of the page. It well help you easily identify the central bank and finance ministers from the major economies.

Why’d we rally today in EUR/USD? Because the market got itself good and short again. 13% shorter at the close of business on Tuesday than the prior week. The markets long dollar position overall on the IMM grew by 4%, according to CFTC data.

–Maybe ‘Wide Spectrum’ Maturities Buys if Econ Gets Worse –Slow Growth Leaves Economy Vulnerable to Downside Shocks WASHINGTON (MNI) – The following is the second section of excerpts from the remarks of Federal Reserve Vice Chairman Janet Yellen prepared Friday for the Annual Meeting of the Financial Management Association International in Denver: One potentially promising [...]

–Maybe ‘Wide Spectrum’ Maturities Buys if Econ Gets Worse –Slow Growth Leaves Economy Vulnerable to Downside Shocks WASHINGTON (MNI) – The following are excerpts from the remarks of Federal Reserve Vice Chairman Janet Yellen prepared Friday for the Annual Meeting of the Financial Management Association International in Denver: I will begin by pointing out that, [...]

Turning EFSF into a bank would be most efficient leverage solution but it is not worth a definitive confrontation:RTRS

And there is sure to me much rejoicing.

Significant downside risks to the economy Fed prepared to use all tools at its disposal

BRUSSELS (MNI) – Eurozone finance ministers Friday approved the sixth tranche loan tranche for Greece, worth E8 billion, an official statement said. “We have agreed to endorse the disbursement of the next tranche of financial assistance to Greece in the context of the current economic adjustment programme”, the statement said, confirming an earlier report by [...]

Pace of recovery very troubling Sad thing is, I can’t disagree with him. Beats 2030, though…

Welcomes Greek consolidation efforts Seeks progress on structural reforms and privatization programs Full release here.

PMI (flash) Economic – October – Sentiment mfg svc comp – October - Median Forecast 48.0 48.5 48.7 93.3 High forecast 48.7 48.6 48.9 94.5 Low forecast 47.5 47.8 45.5 92.5 Previous period 48.8 48.5 49.1 95.0 Number of responses 14 14 8 10 – Barclays Cap. 47.8 48.3 48.5 n/a BNP Paribas 48.0 48.5 [...]

PMI (flash) GfK – October – Consumer Morale mfg svc – November - Median Forecast 49.8 49.4 5.1 High forecast 50.4 50.5 5.4 Low forecast 49.5 49 4.5 Previous period 50.3 49.7 5.2 Number of responses 9 9 10 – Barclays Cap. 49.5 49.2 5.1 BNP Paribas n/a n/a 5.1 Capital Economics n/a n/a 4.5 [...]