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Top Forex News

2012-02-02T09:24:00.001-08:00

Top Forex News

Canadian Dollar Edges Higher even with Uncertainty
Euro Heads Lower after Recent Rally
Pound Down as Construction in Britain Slows
Yen Reverses Losses vs. Euro as Risk Appetite Leaves FX Market
Aussie Reaches 5-Month High as Stocks Rally

Canadian Dollar Edges Higher even with Uncertainty

Posted: 02 Feb 2012 07:39 AM PST

Canadian dollar is edging higher on market uncertainty today, gaining a bit even as risk aversion creeps into currency trading. Loonie does remain near parity with the greenback, though. Gains have been limited by some of the uncertainty experienced by the financial markets.

(...)
Read the rest of Canadian Dollar Edges Higher even with Uncertainty (138 words)

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Euro Heads Lower after Recent Rally

Posted: 02 Feb 2012 06:15 AM PST

Euro has been showing strength against the US dollar recently, but uncertainty is creeping into the markets. As a result, risk aversion is making an appearance, and the euro is heading lower against the US dollar, as well as heading lower against the Japanese yen and even the Great Britain pound.

(...)
Read the rest of Euro Heads Lower after Recent Rally (132 words)

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Pound Down as Construction in Britain Slows

Posted: 02 Feb 2012 02:19 AM PST

The Great Britain pound erased its gains versus the US dollar and fell against the Japanese yen today after the report showed that UK construction growth slowed last month.(...)
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Yen Reverses Losses vs. Euro as Risk Appetite Leaves FX Market

Posted: 02 Feb 2012 01:51 AM PST

The Japanese yen rose today, reversing yesterday’s losses against the euro, as positive mood slowly leaves the Forex market and traders once again seek safety in safe-haven currencies.(...)
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Aussie Reaches 5-Month High as Stocks Rally

Posted: 01 Feb 2012 10:31 PM PST

The Australian dollar reached the highest level in five months against its US counterpart as fundamental data was positive all around the world, leading to a rally of stocks.(...)
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Your forexlive.com ENewsletter

2012-02-02T02:09:00.001-08:00

Your forexlive.com ENewsletter

EUR/USD recovers
French Auctions: Sold a total Eur 7.962 bln of 10yr benchmark and 1018, 2020 OAT issues
Eurozone Dec PPI -0.2% m/m (exp -0.2%)
I need to chill, time for some ballet!!!!!
UK Construction Expands In January But Pace Of Growth Eases
Spanish Auctions: Tesoro sold Eur 4.554 bln of 2015, 2016 bono and 2017 obligacion issues
UK Jan Construction PMI 51.4 vs 53.2 in Dec
BIS seen on bid in EUR/USD
Right where was I? Oh yer, French auctions comin down the pike as well
EUR/JPY stops whacked…
AUD/USD holding up well.. comparatively
GERMANY DATA: Dec machine orders -10% y/y; November..
What we got on downside for EUR/USD now…
Middle East sniffing around in EUR/USD
Tuck this away in the old brainbox, you never know…
EUR/USD lower…..
Rumour circulating in late Asia: Imminent Chinese RRR cut
Talk BIS, China seen selling EUR/USD in recent trade
We got us some euro zone auctions comin down the pike
Greek govt spokesman: Bulk of talks with Troika lenders is over

EUR/USD recovers

Posted:

Presently at 1.3155 after BIS bought around 1.3125. Presently back up at 1.3152. That’s me pretty much me done for the day. I really can’t do more than I’m doing. All my critics can go KISS MY ARSE

French Auctions: Sold a total Eur 7.962 bln of 10yr benchmark and 1018, 2020 OAT issues

Posted:

Out of an indicative Eur 6.5-8.0 bln Sold Eur 5.698 bln of 10 yr Benchmark 3% April 2022 OAT, yield 3.13 % , cover 1.71 Sold Eur 1.011 bln of 4.25% Oct 2018 OAT, yield 2.44%, cover 4.34 Sold Eur1.253 bln of 2.5% Oct 2020 OAT, yield 2.91%, cover 3.99

Eurozone Dec PPI -0.2% m/m (exp -0.2%)

Posted:

In line with expectations

I need to chill, time for some ballet!!!!!

Posted:

UK Construction Expands In January But Pace Of Growth Eases

Posted:

LONDON (MNI) – The UK construction sector expanded for the 13th consecutive month in January, but at a markedly slower pace than in December and employment was stagnant. The Markit/CIPS construction data showed that while there was only a modest rise in activity in January and growth in new orders slowed, the sector’s employers were [...]

Spanish Auctions: Tesoro sold Eur 4.554 bln of 2015, 2016 bono and 2017 obligacion issues

Posted:

Out of an indicative target of Eur 3.5-4.5 bln Sold Eur 2.52bln of 4% July 2015 Bono, yield 2.861% (vs 3.384 %), cover 1.63 (vs 1.797) Sold Eur 984 mln of 4.25% Oct 2016 Bono, yield 3.455% (vs 4.021 %), cover 3.57 (vs 1.71) Sold Eur 1.05 bln of 3.8% Jan 2017 obligacion, yield 3.565 % , cover 2.70 Overall pretty good, [...]

UK Jan Construction PMI 51.4 vs 53.2 in Dec

Posted:

Below Reuters forecast of 52.6. No real surprises and a relatively tiny part of the UK ‘s economy. Cable’s steady in the mid 1.5820′s

BIS seen on bid in EUR/USD

Posted:

We’re at 1.3125 from 1.3122 low. Obviously a good morning for the boys from Basle. I make that about 55/60 pips in the bin….

Right where was I? Oh yer, French auctions comin down the pike as well

Posted:

Agence France Tresor selling new 10 year benchmark 3.00% April 2022 OAT issue and also tapping 4.25% Ocober 2018 OAT and 2.50% October 2020 OAT issues Indicative size 6.5-8.0 bln Results due soon after 10:00 GMT.

EUR/JPY stops whacked…

Posted:

Down through 100.00 just now to a low of 99.87. Being told some sizeable bids now in the 99.60/80 area ahead of tech support at the 20day MA at 99.40 and large bids at 99.25. We’re at 99.90 now

AUD/USD holding up well.. comparatively

Posted:

EUR/AUD’s back in play again this morning with the pair heading down towards the January all time lows of 1.2228. We’re just off day’s lows of 1.2257 having been as high as 1.2302 in Asia overnight. AUD/USD’s got a few bids around 1.0690/00 and just filled some corporate ones on the way down through 1.0715/25. [...]

GERMANY DATA: Dec machine orders -10% y/y; November..

Posted:

GERMANY DATA: Dec machine orders -10% y/y; November -12%; October +1%: VDMA – VDMA: December domestic machine orders flat y/y; foreign orders -14% – VDMA: October-December total orders -7% y/y; domestic +1; foreign -11% – See MNI MainWire for details

What we got on downside for EUR/USD now…

Posted:

We’re at 1.3140. Talk buy orders clustered 1.3115/25, sell stops through 1.3115. (sorry amended that slightly as info coming in) That’s enough for now. I can’t keep this up, doing my head in.

Middle East sniffing around in EUR/USD

Posted:

Talk is they’re passing on higher quotes in EUR/USD. We’re steadier at 1.3150.

Tuck this away in the old brainbox, you never know…

Posted:

EUR/USD sits at 1.3142. If we eva get back above 1.3200 this titbit is maybe worth bearing in mind. Been told by good source “nasty” buy stops gathering through 1.3220 now. On the downside, talk of buy orders clustered down at 1.3115/25. UPDATE: OK it’s not the Middle East boyos, but just told ACB bought [...]

EUR/USD lower…..

Posted:

Presently at 1.3148. What, no one want to take on the BIS/China combo? Real money also been seen selling in latest leg lower. UPDATE: Model funds also seen selling. We’re down at 1.3140. Where are the Middle East boyos when you need them

Rumour circulating in late Asia: Imminent Chinese RRR cut

Posted:

Same old, same old. Yawn…..

Talk BIS, China seen selling EUR/USD in recent trade

Posted:

We back down at 1.3170. Personally I hope they both get it round their necks

We got us some euro zone auctions comin down the pike

Posted:

Yipeeeeeeeeeeeeeee, I’m soooo excited I just pee’d my pants…. Or maybe it’s just the general incontinence Spain’s Tesoro Publico taps the 4.00% 2015 Bono, 4.25% 2016 Bono and 3.8% 2017 Obligacion issues. Indicative target 3.5-4.5 bln. Decent demand expected. Results due around 09:40 GMT. France also looking to raise some dosh. Details coming when I [...]

Greek govt spokesman: Bulk of talks with Troika lenders is over

Posted:

A few sticking points remain (shock horror, who wud have thunk it?)

Top Forex News

2012-02-01T09:19:00.001-08:00

Top Forex News

Japanese Yen Higher Against the US Dollar
US Dollar Drops as Optimism Returns to Markets
Euro Rebound as Eurozone Manufacturing Expands
Won Drops vs. Euro on Threat of Economic Slowdown in Asia
Fundamentals in US & Canada Surprisingly Bad, Loonie Dips
Rand Gains Amid Market Optimism

Japanese Yen Higher Against the US Dollar

Posted: 01 Feb 2012 07:38 AM PST

Risk appetite is coming to the Forex market, sending high beta currencies higher. And, normally, this would mean that the US dollar would also be higher against the Japanese yen. Today, though, the yen is higher against the greenback. Weaker than expected US data is sending the dollar lower, and the yen is near three-month highs against the greenback.

(...)
Read the rest of Japanese Yen Higher Against the US Dollar (145 words)

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US Dollar Drops as Optimism Returns to Markets

Posted: 01 Feb 2012 06:29 AM PST

US dollar is lower across the board right now, dropping as optimism returns to the market in the form of better economic news. The news is especially encouraging in Europe, where eurozone manufacturing has expanded. Even in the United States, the situation isn’t so bad, with ADP estimating private payrolls up by 170,000.

(...)
Read the rest of US Dollar Drops as Optimism Returns to Markets (128 words)

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Euro Rebound as Eurozone Manufacturing Expands

Posted: 01 Feb 2012 04:23 AM PST

The euro rose today, erasing its previous losses, after a report showed that eurozone manufacturing improved this month, easing concerns about the negative impact of the European financial crisis on the region’s economy.(...)
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Won Drops vs. Euro on Threat of Economic Slowdown in Asia

Posted: 01 Feb 2012 02:50 AM PST

The South Korean won fell against the euro today on concerns that problems in Europe crippled economic growth of Asian nations. The currency was also down versus the US dollar, but later rebounded.(...)
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Fundamentals in US & Canada Surprisingly Bad, Loonie Dips

Posted: 31 Jan 2012 02:09 PM PST

The Canadian dollar dropped today versus safer currencies as macroeconomic fundamentals were surprisingly bad both in Canada and in the United States. The currency still managed to outperform the euro after the earlier drop.(...)
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Rand Gains Amid Market Optimism

Posted: 31 Jan 2012 12:25 PM PST

The South African rand gained today as optimism for an outcome of Greek debt-swap talks caused a rally of stocks and commodities, while also helping currencies of emerging markets.(...)
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Your forexlive.com ENewsletter

2012-02-01T02:08:00.001-08:00

Your forexlive.com ENewsletter

EUR/JPY back up through 100.00
CIPS: UK Manufacturing Spikes To Highest Since May 2011
USD/JPY at year’s lows ahead of semi-official bids..
Update: ECB BLS: Sharp 4Q Credit Tightening May Slow
EUR/GBP trading at session highs amid talk of 1000GMT fixing interest
UK Jan manufacturing PMI 52.1 (expected 50.00) vs 49.7 in Dec
Cable heading up to 1.5800 barrier,..
ECB Bank Lending Survey: Sharp 4Q Credit Tightening May Slow
Rumour: Greek PSI deal “real soon”
ECB Text: Bank Lending Survey – Ad Hoc Questions
Middle East buyers in the AUD/USD…..
German January manufacturing PMI 51.0
Italy January manufacturing PMI 46.8
Periphery/German 10 year bond yield spreads narrow in early trade
Swiss January PMI 47.3
Swiss December retail sales +0.6% y/y
ACB’s seen buying cable, selling USD/CAD
BOE Offers Unlit Usd In 7-day, 84-day Repo At 0.59%
Spain January manufacturing PMI 45.1
Portugal looking to raise some dosh as well

EUR/JPY back up through 100.00

Posted:

Some decent offers slowing down this rally now but buy stops just tweaked as we broke the level to a high of 100.06. There are more offers up at 100.15/25 and 100.40/50

CIPS: UK Manufacturing Spikes To Highest Since May 2011

Posted:

LONDON (MNI) – The UK manufacturing sector saw a sharp pick-up in activity in January, expanding at its fastest pace since last May. The headline Markit/Chartered Institute of Purchasing and Supply index from Reuters came in at 52.1, well above analysts’ median forecast for a 49.8 outturn, and up from a revised from 49.7 in [...]

USD/JPY at year’s lows ahead of semi-official bids..

Posted:

There was some earlier buying from model accounts , but it’s failed to stop the rot as USD falls to 76.04 Talk of semi-official (Kampo) bids resting at 76.00, which should hold things up for now , but bounces are rather “dead-cat” at the moment. below here is some tech support at 75.85/90

Update: ECB BLS: Sharp 4Q Credit Tightening May Slow

Posted:

– Survey Conducted Before And After E489 billion 3-year Loan Injection – ECB’s Three-year Loans May Yet Have A Positive Impact FRANKFURT (MNI) – Eurozone banks expect to continue tightening conditions on loans this quarter, but they may do so less aggressively than in 4Q, perhaps reflecting the tonic effect of the European Central Bank’s [...]

EUR/GBP trading at session highs amid talk of 1000GMT fixing interest

Posted:

We’ve been up to 0.8313 and its scuppering the cable buyers targeting the barrier for now EUR’s at 0.8311 and Cable’s holding around 1.5785 again EUR/GBP support at 0.8380/85 with initial tech resistance up around 0.8345

UK Jan manufacturing PMI 52.1 (expected 50.00) vs 49.7 in Dec

Posted:

Much better than forecast and highest since May last year. GBP/USD got a lift to a day’s high of 1.5787, but barrier protection offers are weighing now

Cable heading up to 1.5800 barrier,..

Posted:

But running into offers above 1.5780 with likely larger offers ahead of the barrier. Talk of buy stops up through 1.5810/15. Tech suppport lies at 1.5710/15, ahead of major/key support at 1.5650/55 We’re presently sitting at 1.5775

ECB Bank Lending Survey: Sharp 4Q Credit Tightening May Slow

Posted:

Rumour: Greek PSI deal “real soon”

Posted:

BOLLOX!!!!!! I’m with Annie, I’ve had my fill of this happy horseshit….. EUR/USD through first cluster of sell orders aforementioned at 1.3085/95. Next lot mentioned 1.3110/20. Both lot’s including real money interest apparently. UPDATE: Meanwhile IMF official says Troika talks to conclude “very soon” “Soon” seems real in vogue word this morning. Soon I’m gonna disappear [...]

ECB Text: Bank Lending Survey – Ad Hoc Questions

Posted:

FRANKFURT (MNI) – The following is the verbatim text of the additional ad hoc questions from the European Central Bank’s latest Bank Lending Survey, published on Wednesday: The January 2012 BLS round included three additional ad hoc questions. The replies to these are summarised below: - Regarding bank access to market funding, euro area banks [...]

Middle East buyers in the AUD/USD…..

Posted:

Been told they were seen down in the 1.0620′s recently. Offers are sitting in the 1.0640/50 zone ahead of some more up at 1.0675/85. 1.0700 holds a barrier and option related protection offers are seen ahead of it. We’re sitting just off the recent day’s high of 1.0648.

German January manufacturing PMI 51.0

Posted:

Up from 48.4 in December and fractionally better than flash read of 50.9. European stocks seeing accelerated gains, DAX up 1.3%, CAC 40 up 1.5%. EUR/USD has extended rally to 1.3090.

Italy January manufacturing PMI 46.8

Posted:

Up from 44.3 in December and better than Reuter’s median forecast of 45.0, highest read since September. EUR/USD up at 1.3073. Getting reports sell orders now clustered 1.3085/95 and more up at 1.3110/20. Buy stops? I got nada, jack, bugger all Meanwhile, French January final manufacturing PMI has come in at 48.5, unchanged from flash [...]

Periphery/German 10 year bond yield spreads narrow in early trade

Posted:

Italy/German 10 year bond yield spread has narrowed to 398 bps from the 416 bps I jotted down first thing. Spain/German 10 year bond yield spread has narrowed to 309 bps from early 318 bps. France/German 10 year bond yield spread has narrowed to 121 bps from early 126 bps (I guess it’s OK to [...]

Swiss January PMI 47.3

Posted:

UGHHHHHH!!! Some way lower than Reuter’s median forecast of 51.4.

Swiss December retail sales +0.6% y/y

Posted:

Down from +1.8% in November.

ACB’s seen buying cable, selling USD/CAD

Posted:

Cable at 1.5735 from session low 1.5708 (EBS), USD/CAD down at 1.0025 from session high 1.0048. I haven’t gotten reports, but if they’re selling dollars in those two pairings then they’re most probably selling them versus the euro as well. EUR/USD meanwhile has extended recovery a little further to 1.3063 at writing. Just another choppy day in paradise

BOE Offers Unlit Usd In 7-day, 84-day Repo At 0.59%

Posted:

LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in both 84-day and 7-day operations. The settlement date on the 7-day op was Feb 02 maturing Feb 9 2012. The Bank said the repo would be at a fixed-rate, with the rate to be set at [...]

Spain January manufacturing PMI 45.1

Posted:

Up from 43.7 in December and above median forecast of 44.5. Thank heavens for small mercies.

Portugal looking to raise some dosh as well

Posted:

Portugal auctions 3 and 6 month paper this morning. Indicative amount 1.25-1.5 bln. Results soon after 10:30 GMT (as far as I can make out)

Top Forex News

2012-01-31T09:35:00.001-08:00

Top Forex News

Swiss Franc Mixed Today
US Dollar Pulls Back as Risk Appetite Makes an Appearance
Pound Higher on Consumer Confidence
Euro Strengthens as Greece Makes Progress in Debt Swap Talks
Europe Causes Concerns, Makes Yen Preferred Currency for FX Traders

Swiss Franc Mixed Today

Posted: 31 Jan 2012 07:50 AM PST

Swiss franc is mixed today, higher against the euro, and lower against the US dollar and the Great Britain Pound. Even so, the recent economic forum at Davos has expressed confidence in the Swissie’s cap against the euro, and the ability of the franc to pull back against the 17-nation currency as needed.

(...)
Read the rest of Swiss Franc Mixed Today (139 words)

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US Dollar Pulls Back as Risk Appetite Makes an Appearance

Posted: 31 Jan 2012 06:30 AM PST

Cautious optimism has returned to the markets today, bringing risk appetite and sending the US dollar lower against other major currencies. Corporate earnings are encouraging once again, and most of the European Union countries signed on to a treaty requiring tougher fiscal rules. The result is that many investors and Forex traders are feeling more optimistic about what’s next for the global economy, and that means the US dollar isn’t needed as a safe haven.

(...)
Read the rest of US Dollar Pulls Back as Risk Appetite Makes an Appearance (128 words)

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Pound Higher on Consumer Confidence

Posted: 31 Jan 2012 03:04 AM PST

The Great Britain pound was higher today versus the US dollar and the Japanese yen after a report showed that consumer confidence in the UK improved, while speculation that Greece made progress in the debt-swap discussion reduced demand for safer currencies.(...)
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Euro Strengthens as Greece Makes Progress in Debt Swap Talks

Posted: 31 Jan 2012 02:17 AM PST

The euro rose today as speculation that Greece is making progress in convincing creditors to reduce the nation’s debt improved market sentiment and eased pessimism about the euro.(...)
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Europe Causes Concerns, Makes Yen Preferred Currency for FX Traders

Posted: 30 Jan 2012 11:39 AM PST

The Japanese yen jumped today amid growing concerns about a potential outcome of the European Union leaders’ meeting, especially about the uncertain future of Greece.(...)
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Your forexlive.com ENewsletter

2012-01-31T02:08:00.001-08:00

Your forexlive.com ENewsletter

Greek November retail sales -11.6% y/y
Euro zone December unemployment 10.4%
Update:Germany’s Unemployment Drops More Than Expected In Jan
Analysis:EMU Jobless Rise Slows In December;Rate Stable 10.4%
UK DATA: Net consumer credit hit a record low in and.
Update: BOE Consumer Credit Falls; Foreign Gilt Holdings Dive
EUR/JPY grinds higher… no thanks to USD/JPY!
Update: BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail
BOE:UK Consumer Credit Hits Low; Foreign Gilt Holdings Plunge
UK Dec Mortgage approvals 52,939 vs 52,628 in Nov
BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail Problem
AUD/USD barrier looms….
EUR/USD over 1.3200
Italian December adj jobless rises to 8.9% :(
Germany’s Unemployment Drops More Than Expected In January
GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI…..
German January s.a. jobless total falls 34k to 2.849 mln
ECB Nowotny: “Of course” risk in ECB’s Greek bond holdings
Stoxx Europe 600 banking index up +1.2%
Austria Faymann: ESM Bailout Fund Should Get Banking Licence

Greek November retail sales -11.6% y/y

Posted:

After -10.8% in October. Don’t get any better

Euro zone December unemployment 10.4%

Posted:

Unchanged from revised 10.4% in November (prev 10.3%) As expected.

Update:Germany’s Unemployment Drops More Than Expected In Jan

Posted:

–Adds Cmments from Labor Agency Head in Third, Last Paragraphs SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by [...]

Analysis:EMU Jobless Rise Slows In December;Rate Stable 10.4%

Posted:

December preliminary: 10.4% MNI survey median: 10.4% MNI survey range: 10.3% to 10.4% Previous: 10.4% Nov (10.3%), 10.3% Oct, 10.3% Sep, 10.2% Aug, 10.1% Jul PARIS (MNI) – The Eurozone unemployment rate stabilized in December at November’s record high of 10.4%, as the monthly increase slowed to weakest pace in eight months, according to seasonally [...]

UK DATA: Net consumer credit hit a record low in and.

Posted:

UK DATA: Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, hit [...]

Update: BOE Consumer Credit Falls; Foreign Gilt Holdings Dive

Posted:

–Adds Detail To Version Transmitted At 0930 GMT London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad [...]

EUR/JPY grinds higher… no thanks to USD/JPY!

Posted:

We’re up at 100.65 after a fresh high of 100.73. There’s a bunch of offers ahead at 100.90/00 with tech resistance up at 101.15/20 (101.16 50 day MA) and 101.40 (55 day MA) USD/JPY’s doing very little slipping back after earlier rumours of possible potential intervention, but going nowhere fast and sitting around 76.25. Japanese [...]

Update: BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail

Posted:

–Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the “too-big-to-fail problem”, says Bank of England Deputy Governor Paul Tucker. In the chapter [...]

BOE:UK Consumer Credit Hits Low; Foreign Gilt Holdings Plunge

Posted:

London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, [...]

UK Dec Mortgage approvals 52,939 vs 52,628 in Nov

Posted:

Highest since Dec 2009 but less than expected 53,700 Dec mortgage lending +£0.7 bln vs +£0.6 bln in Nov (expected +£0.7bln) UK Dec consumer credit -£0.4bln (, expected +£0.4bln) vs +£0.4bln in Nov …. lowest since 1993 Not good numbers but cable supported by month end USD sales

BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail Problem

Posted:

–Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the too-big-to-fail problem, says Bank of England Deputy Gov. Pauil Tucker. In the chapter [...]

AUD/USD barrier looms….

Posted:

Just chewed it’s way through offers in the 1.0650/70 area despite some sales from model accounts and a sovereign name. Large offers lie ahead of a 1.0700 barrier with some reasonable buy stops above. Sean mentioned in Asia that there was talk of very large stops at 1.0750, 1.0770 and 1.0800. We’re sitting up at 1.0678 [...]

EUR/USD over 1.3200

Posted:

On back of better than expected German jobless data. And don’t forget the touted month-end USD sales….. We’re at 1.3208 having been as high as 1.3213 so far. Talk of sell orders clustered 1.3230 through 1.3250.

Italian December adj jobless rises to 8.9% :(

Posted:

Versus revised 8.8% (prev 8.6%) in November. Ughh!! Median forecast had called for 8.7%

Germany’s Unemployment Drops More Than Expected In January

Posted:

SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by 0.1 percentage point to 6.7%. The median forecast of an [...]

GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI…..

Posted:

GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI FCAST -12.5K –GERMANY Jan sa unemployment rate 6.7% vs Dec 6.8% –GERMANY Jan sa unemployment 2.849 Mln vs Dec 2.883 Mln –GERMANY Jan nsa unemployment rate 7.3% vs Dec 6.6% –GERMANY Jan nsa unemployment 3.082 Mln vs Dec 2.780 Mln –GERMANY Jan sa job vacancies +6k vs [...]

German January s.a. jobless total falls 34k to 2.849 mln

Posted:

Jobless rate fell to 6.7% from previous 6.8%. Median forecasts had been looking for a fall of around 5k and unchanged rate of 6.8%, so data better than expected. EUR/USD has soared a whole 12 pips on the news presently at 1.3192. I’ve got the hump. Where’s Joe!!!!

ECB Nowotny: “Of course” risk in ECB’s Greek bond holdings

Posted:

And today is Tuesday. See, I can state the obvious too…. ECB not involved in private sector discussions on Greece Expect Greece to stay in euro zone, but measures must be taken

Stoxx Europe 600 banking index up +1.2%

Posted:

EUR/USD seeing choppy trade in relatively narrow range in early Europe. Sit presently at 1.3175. On the one hand we’ve had some crappy euro zone economic data (german retail sales/french consumer spending and Portuguese/German bond yield spreads widening out further. On the other, we’ve had talk of general month end USD sales and European stockmarket gains. [...]

Austria Faymann: ESM Bailout Fund Should Get Banking Licence

Posted:

– Should Not Rule Out ECB Taking Haircuts On Greek Bonds FRANKFURT (MNI) – The permanent European bailout fund, ESM, should be granted a banking licence enabling it to borrow in the European Central Bank’s refinancing operations, Austrian Chancellor Werner Faymann said in an interview with German magazine Der Spiegel. “If we manage to get [...]

Top Forex News

2012-01-30T09:25:00.001-08:00

Top Forex News

Canadian Dollar Pulls Back
US Dollar Rises as Greece Takes Center Stage
Turkish Lira Down Ahead of EU Summit
Chinese Yuan Gains as Dollar Weakens

Canadian Dollar Pulls Back

Posted: 30 Jan 2012 07:57 AM PST

Canadian dollar is pulling back today, heading lower as risk appetite fades away, and as oil prices drop. Commodity currencies are struggling right now on risk aversion and a higher US dollar. It’s not surprise that the loonie is experiencing difficulties as well.

(...)
Read the rest of Canadian Dollar Pulls Back (140 words)

Posted on Forex News.

US Dollar Rises as Greece Takes Center Stage

Posted: 30 Jan 2012 06:17 AM PST

US dollar is rising as Greece once again takes center stage in the world markets. Greenback is gaining as concerns about what’s next for Greece — and the eurozone — weighs on risk currencies, especially the euro.

(...)
Read the rest of US Dollar Rises as Greece Takes Center Stage (160 words)

Posted on Forex News.

Turkish Lira Down Ahead of EU Summit

Posted: 30 Jan 2012 03:08 AM PST

The Turkish lira was down today after four sessions of gains as investors preferred a cautious approach during the discussions about a Greek debt haircut, avoiding riskier assets.(...)
Read the rest of Turkish Lira Down Ahead of EU Summit (58 words)

Posted on Forex News.

Chinese Yuan Gains as Dollar Weakens

Posted: 30 Jan 2012 01:50 AM PST

The Chinese yuan appreciated today after the week-long holiday in China as the Federal Reserve pledged to keep interest rates low, weakening the US currency.(...)
Read the rest of Chinese Yuan Gains as Dollar Weakens (52 words)

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FXCM Launches New, Improved, and Faster MT4

2012-01-30T08:10:00.001-08:00

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Your forexlive.com ENewsletter

2012-01-30T02:07:00.001-08:00

Your forexlive.com ENewsletter

Euro zone economic sentiment rises to 93.4 in January
BOE: APF Acted As Backstop In Corporate Debt Market In Q4
Middle East still buying EUR/USD in recent trade
GBP/USD slip cushioned as EUR/GBP takes the strain..
Germany: NRW Jan CPI -0.4% M/M, In Line W/Pan-German Forecast
BIS buys EUR/USD in recent trade
Italian 5 year credit default swaps rise 11 bps on day to 411 bps
It won’t be long before we get reports of……
AUD/USD under all sorts of pressure……
European stocks seeing accelerated losses
Germany:Brandenbg Jan CPI -0.4% M/M,In Line W/Pan-German Fcst
ITALY DATA: January business confidence fell to 92.1.
Italy January business confidence falls to 92.1
EMU Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3
Germany Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3
France Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3
Irish Minister: If voters rejected fiscal treaty would be hard for country to remain in euro
We got us some Italian auctions this morning
Germany: Saxony Jan CPI -0.4% M/M, In Line W/Pan-German Fcast
Plus ca change, plus c’est la meme chose…

Euro zone economic sentiment rises to 93.4 in January

Posted:

Up from revised 92.8 in December , but marginally weaker than Reuters’ median forecast of 93.8.

BOE: APF Acted As Backstop In Corporate Debt Market In Q4

Posted:

LONDON (MNI) – The Bank of England Asset Purchase Facility acted as backstop in stressed corporate debt markets in the fourth quarter, coming in as a buyer of last resort, according to the central bank. The BOE’s activities in the corporate bond market have been overshadowed by its bulk buying of Gilts through quantitative easing, [...]

Middle East still buying EUR/USD in recent trade

Posted:

Down around 1.3125 apparently. We’re at 1.3130. Stops rumoured thru 1.3120.

GBP/USD slip cushioned as EUR/GBP takes the strain..

Posted:

Cable’s holding up in the 1.5660′s, as EUR/GBP gets driven lower by the broader EUR sell off. There’s talk of cable bids in the 1.5640/50 area with sell stops down through 1.5635. EUR/GBP’s testing the 0.8380 tech support level which if goes pushes down to 0.8330/40. There’s some tech resistance up at 0.8405/10 and 0.8420/25 [...]

Germany: NRW Jan CPI -0.4% M/M, In Line W/Pan-German Forecast

Posted:

North Rhine-Westphalia CPI January: -0.4% m/m +1.8% y/y December: +0.7% m/m, +1.7% y/y — Pan-German CPI MNI median forecast: -0.4% m/m, +2.0% y/y MNI forecast range: -0.5% to -0.2% m/m December: +0.7% m/m, +2.1% y/y — BERLIN (MNI) – Consumer prices in the western German state of North Rhine-Westphalia fell 0.4% in January, lifting the [...]

BIS buys EUR/USD in recent trade

Posted:

We’re at 1.3138 from session low 1.3129. This will be interesting. Recently the boys from Basle have been doing pretty well. But this could be a different story given the negativity around this morning. We’ll see. UPDATE: New session low 1.3122. Mumblings of sell stops through 1.3120. Not overly convincing mumblings I have to say, [...]

Italian 5 year credit default swaps rise 11 bps on day to 411 bps

Posted:

Spanish 5 year credit default swaps rise 10 bps on day to 362 bps.

It won’t be long before we get reports of……

Posted:

ECB buying Italian bonds. Possibly Spanish too. Mark my words Italian 10 year bond yield up 18 bps at 6.08%. Spanish 10 year bond yield up 8 bps at 5.04%.

AUD/USD under all sorts of pressure……

Posted:

Fitch’s “negative watch ” on 4 Australian banks is adding pressure this morning along with some strong profit taking on EUR/AUD and GBP/AUD. EUR/USD’s not helping either with strong sales on the back of French banks stocks getting hit. AUD/USD just off the day’s lows (1.0534) and heading for bids at 1.0500/10. Tech support is seen towards 1.0459 [...]

European stocks seeing accelerated losses

Posted:

DAX down 1%, CAC 40 down 1.3%. Joe tells me French bank stocks getting hit hard.

Germany:Brandenbg Jan CPI -0.4% M/M,In Line W/Pan-German Fcst

Posted:

Brandenburg CPI January: -0.4% m/m +2.2% y/y December: +0.6% m/m, +2.1% y/y — Pan-German CPI MNI median forecast: -0.4% m/m, +2.0% y/y MNI forecast range: -0.5% to -0.2% m/m December: +0.7% m/m, +2.1% y/y — BERLIN (MNI) – Consumer prices in the eastern German state of Brandenburg fell 0.4% in January, lifting the annual inflation [...]

ITALY DATA: January business confidence fell to 92.1.

Posted:

ITALY DATA: January business confidence fell to 92.1 from 92.5 in December, as a result of worsening output expectations, improved sentiment on current orders and a decline in current inventory levels, with the index reaching a two-year low, ISTAT said (Nov 2009 89.6). –January current orders rose to -27 from -28 in December, while the [...]

Italy January business confidence falls to 92.1

Posted:

From 92.5 in December, weaker than Reuters’ median forecast of 92.8 and lowest read since November 2009.

EMU Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3

Posted:

Economic Industry Services Morale Morale Morale – January – – January – - January – Median Forecast 93.9 -6.3 -1.3 High forecast 95.2 -5.0 0.0 Low forecast 92.7 -7.3 -2.0 Previous period - Number of responses 8 6 4 - Barclays Cap. n/a -6.0 n/a Capital Economics 94.5 n/a n/a Citi 93.8 -7.3 n/a DZ [...]

Germany Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3

Posted:

CPI (flash) HICP (flash) – January – – January - %mom %yoy %mom %yoy Median Forecast -0.4 2.0 -0.5 2.4 High forecast -0.2 2.3 -0.2 2.6 Low forecast -0.5 1.9 -0.6 2.2 Previous period 0.7 2.1 0.7 2.3 - Number of responses 10 12 8 10 - 4Cast -0.5 1.9 -0.6 2.2 Barclays Cap. -0.4 [...]

France Data: MNI Survey Of Econ Data Forecasts Jan 30 to Feb 3

Posted:

Consumer Spending – December - %mom %yoy Median Forecast 0.2 -1.8 High forecast 1.2 -1.1 Low forecast -0.5 -2.7 Previous period -0.1 0.0 - Number of responses 8 5 - Barclays Cap. 0.4 -1.4 Capital Economics 0.0 -2.2 Citi -0.5 -2.7 Natixis 0.5 -1.8 Soc. Generale 1.2 -1.1 UBS -0.5 n/a Unicredit -0.3 n/a West [...]

Irish Minister: If voters rejected fiscal treaty would be hard for country to remain in euro

Posted:

But would they really vote against it? Any input from our legion of Irish readers appreciated. UPDATE: Just noticed recent poll taken on referendum. Looks pretty close. ANOTHER UPDATE: If you want to read link above you’ll have to do google search putting in Irish want referendum on fiscal treaty It’s the Financial Times article.

We got us some Italian auctions this morning

Posted:

Italy sells new 5 year benchmark 4.75% May 2017 BTP for target 3-4 bln. Taps 10 year 5.0% March 2022 BTP for 1.5-2 bln. Taps off the run 3.75% April 2016 BTP and 3.75% March 2021 BTP for combined target of 1-2 bln. Total indicative range 5.5-8.0 bln. Auction results due around 10:10 GMT. Expected [...]

Germany: Saxony Jan CPI -0.4% M/M, In Line W/Pan-German Fcast

Posted:

Saxony CPI January: -0.4% m/m +2.3% y/y December: +0.7% m/m, +2.2% y/y — Pan-German CPI MNI median forecast: -0.4% m/m, +2.0% y/y MNI forecast range: -0.5% to -0.2% m/m December: +0.7% m/m, +2.1% y/y — BERLIN (MNI)- Consumer prices in the eastern German state of Saxony fell 0.4% in January, lifting the annual inflation rate [...]

Plus ca change, plus c’est la meme chose…

Posted:

Or to put it another way, same shit different day. Middle Eastern buying being reported in both EUR/USD and GBP/USD in recent trade. EUR/USD at 1.3150 from session low 1.3134 (Reuters) 1.3135 (EBS) Boy, you gotta hate these Middle Eastern types if you’re a euro bear…..

Top Forex News

2012-01-29T09:20:00.001-08:00

Top Forex News

Forecast: No Hope for Euro in 2012?

Posted: 29 Jan 2012 09:16 AM PST

The euro had a rough time since the recession in 2008. Some people even talked about disintegration of the shared 17-nation currency. Such talks receded in 2010, but returned in 2011, though there are not many analysts who believe in a collapse in the eurozone, at least in the near future. Unfortunately for those traders who want to be bullish on the euro there are not many reasons, if any, to be optimistic about the currency.(...)
Read the rest of Forecast: No Hope for Euro in 2012? (342 words)

Posted on Forex News.

Your forexlive.com ENewsletter

2012-01-29T02:07:00.001-08:00

Your forexlive.com ENewsletter

IIF seeks to close Greek debt deal next week
Eurozone will collapse this year, says Nouriel Roubini
Spain unemployment tops 5.3 m and set to get worse
Endgame begins – UK “Foreign Office sources say Merkel now thinks Greece will default”
The European fallacy of Ireland and the Baltics
Germany wants Greece to give up budget control

IIF seeks to close Greek debt deal next week

Posted:

And not a day too soon. Bloomberg article.

Eurozone will collapse this year, says Nouriel Roubini

Posted:

Happy thoughts from Dr Doom.

Spain unemployment tops 5.3 m and set to get worse

Posted:

“The conservative government of Mariano Rajoy has started to quietly beg the EU to ease up on deficit targets which require savage spending cuts.”

Endgame begins – UK “Foreign Office sources say Merkel now thinks Greece will default”

Posted:

Zerohedge.

The European fallacy of Ireland and the Baltics

Posted:

Love him or loathe him, latest from AEP at The Telegraph.

Germany wants Greece to give up budget control

Posted:

Hardly a surprise.

Top Forex News

2012-01-28T09:08:00.001-08:00

Top Forex News

Loonie Rallies for Third Week, Going to Upside with Commodities
Franc Rises, Will SNB Intervention Follow?
NZD/USD Rises to Highest Since September as Trade Balance Posts Surplus

Loonie Rallies for Third Week, Going to Upside with Commodities

Posted: 28 Jan 2012 05:44 AM PST

The Canadian dollar was rallying for a third week against the US dollar and the Japanese yen on a back of surging commodity prices. Commodities jumped after the US Federal Reserve announced its intention to keep interest rates low for a prolonged time, leading to weakness of the US currency. The currency was down against the euro for the second week.(...)
Read the rest of Loonie Rallies for Third Week, Going to Upside with Commodities (133 words)

Posted on Forex News.

Franc Rises, Will SNB Intervention Follow?

Posted: 27 Jan 2012 11:52 PM PST

The Swiss franc rose against the US dollar amid speculations that Greece is struggling to persuade creditors into forgiving part of the nation’s debt. The currency was falling against the euro and the yen on prospects for Swiss central bank’s intervention, but closed almost unchanged.(...)
Read the rest of Franc Rises, Will SNB Intervention Follow? (118 words)

Posted on Forex News.

NZD/USD Rises to Highest Since September as Trade Balance Posts Surplus

Posted: 27 Jan 2012 09:10 PM PST

The New Zealand dollar closed higher versus its US counterpart as nation’s trade balance posted an unexpected surplus last month. The currency closed lower against the euro and the Japanese yen.(...)
Read the rest of NZD/USD Rises to Highest Since September as Trade Balance Posts Surplus (166 words)

Posted on Forex News.

Your forexlive.com ENewsletter

2012-01-28T02:08:00.001-08:00

Your forexlive.com ENewsletter

ForexLive US wrap: Euro squeeze takes on new dimension
It’s Only $1.2 Trillion, So No U.S. Treasury Press Release
1.3225 Woo Hoo!!!
It’s never too late for a little Belgium-bashing
Uh-oh: Another record euro short this week, according to CFTC
How’s that Greek privatization program going?
Obama Administration to expand mortgage modification program
US Economists See Worrying Signs For 2012 in Q4 GDP Numbers
Greek official: “Great” progress on legal, technical issues of debt swap
Germany wants stricter extrernal oversight over Greek budget policy–Reuters
Greek PM: Optimistic debt swap deal to be reached within days–Reuters
Monti takes the Clintonian “old news” approach
Giant German insurer Allianz has outlook cut to negative by S&P; rating affirmed at AA
1.3240/45 next resistance
US DATA: BLS 2011 union membership report says rate..
US DATA: for those making Chicago PM projections,….
US Hill GOP To View Any Obama Tax Reform Plan Very Skeptically
Classic price action
Italy, Spain, Belgium, Slovenia, Cyprus all cut by Fitch
Trichet: No ECB haircut on Greek debt

ForexLive US wrap: Euro squeeze takes on new dimension

Posted:

US GDP rises 2.8% in Q4; final sales up only 0.8%; inflation tumbles; Core PCE up 1.1%, down from 2.0% ECB’s Draghi: Europe has avoided credit crisis thanks to LTRO University of Michigan consumer sentiment rises to 75 final in January from 74.0 prelim NY Fed’s Dudley: Unemployment unacceptably high, inflation seen decelerating BOE’s Miles: [...]

It’s Only $1.2 Trillion, So No U.S. Treasury Press Release

Posted:

By Denny Gulino WASHINGTON (MNI) – The hour has almost arrived for an important bookeeping entry at the U.S. Treasury Department, the notation that from this day forward the U.S. government can borrow another $1.2 trillion. Don’t look in your inbox for that email from Treasury alerting the world at the close-of-business trigger time. There [...]

1.3225 Woo Hoo!!!

Posted:

And by the end of the week “Well Joe and me and two of my best contacts all think it's gonna see 1.3225 first. If I were a euro bull that would certainly unsettle me ” Well guess we’re not sooo shabby after all. Incase you missed it; 26/1/12 At 1.3115 we had a poll. [...]

It’s never too late for a little Belgium-bashing

Posted:

IMF: Belgian economy faces difficult outlook It should be able to survive on summit income alone… EUR/USD is going out on its highs, reaching 1.3229. 1.3245 is the 38.2% retracement of the drop from 1.4250 while a 1.3250 barrier is rumored as well.

Uh-oh: Another record euro short this week, according to CFTC

Posted:

Suggests this rally could have a way to run…

How’s that Greek privatization program going?

Posted:

Not so hot, apparently. Looks as though privatization proceeds will be a goose-egg in the first quarter of 2012.

Obama Administration to expand mortgage modification program

Posted:

To extend life of program through 2013 from scheduled end of 2012 Will boost incentives to banks to modify loans I guess I’m not eligible. I pay my mortgage…

US Economists See Worrying Signs For 2012 in Q4 GDP Numbers

Posted:

By Chris Cermak WASHINGTON (MNI) – The outlook for the U.S. economy in 2012 is looking a little bleaker after the release of Friday’s fourth-quarter GDP report, which showed growth was propped up in large part by temporary factors that are unlikely to carry through into this year. While the Federal Reserve and others stressed [...]

Greek official: “Great” progress on legal, technical issues of debt swap

Posted:

Talks to continue Saturday

Germany wants stricter extrernal oversight over Greek budget policy–Reuters

Posted:

Vee haf vays of making balanze see budget! Wasn’t an external budget watchdog part of the second bailout?

Greek PM: Optimistic debt swap deal to be reached within days–Reuters

Posted:

Aims to complete second bailout negotiation with EU/IMF by middle of next week at latest Greece will not default 2011 deficit expected to end up at 9.5% of GDP Greeks realize more fiscal measures are necessary Papademos probably wishes he were back in the cozy confines of the ECB board room.

Monti takes the Clintonian “old news” approach

Posted:

One of Bill Clinton’s most effective defense mechanisms when caught with hand in the cookie jar (or something else) was that the charge was “old news”. Mario Monti just used that defense to dismiss the Fitch downgrade. His reaction to the old news is “detached serenity”, according to Reuters. Well played, Mario! Well Played…

Giant German insurer Allianz has outlook cut to negative by S&P; rating affirmed at AA

Posted:

Ratings matter for insurance companies…You don’t want customers worried over your ability to pay claims…

1.3240/45 next resistance

Posted:

38.2% retracement of the slide from near 1.4250 to 1.2625 comes in at 1.3244 That 1.4250 was the blow-off high from the last short-squeeze from hell back in October, it should be noted.

US DATA: BLS 2011 union membership report says rate..

Posted:

US DATA: BLS 2011 union membership report says membership rate was 11.8 percent, essentially unchanged from 11.9 percent in 2010. The number of wage and salary workers belonging to unions, at 14.8 million, also showed little movement over the year. In 1983, the first year for which comparable union data are available, the union membership [...]

US DATA: for those making Chicago PM projections,….

Posted:

US DATA: for those making Chicago PM projections, the 2012 seasonal adj factors appear in a table on the MNI Main wire.

US Hill GOP To View Any Obama Tax Reform Plan Very Skeptically

Posted:

–Republicans Likely To See Any Admin Tax Plan As Political Ploy –Hill GOP Plans To Win Control of Congress Next Year, Write Own Bill By John Shaw WASHINGTON (MNI) – In comments to reporters this week, House Speaker John Boehner accused President Obama of being in “total campaign mode” since last fall. So it stands [...]

Classic price action

Posted:

An unexpected downgrade coming near the top of a important range. Dip limited to 35 pips. What do you do if you are nursing a short? Panic! EUR/USD right back above 1.3200…

Italy, Spain, Belgium, Slovenia, Cyprus all cut by Fitch

Posted:

Ireland was affirmed at BBB+ with a negative outlook. Belgium cut to AA from AA+. Italy two notches to A- from A+. Spain cut two notches to A from AA-. Not much reaction to the cuts as ratings agencies become increasingly irrelevant. Fitch says the countries cut do not accrue the reserve currency benefits of [...]

Trichet: No ECB haircut on Greek debt

Posted:

Doesn’t see Greek default Bank nationalization not the answer but must embark on resolution process for weak banks Davos drivel at its very best…

Top Forex News

2012-01-27T09:43:00.001-08:00

Top Forex News

Euro Holding On in Forex Trading
US Dollar Remains Lower
Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency
Iraqi Dinar Gains vs. Dollar, Falls Back to Opening
CAD Reaches Parity vs. USD, Retreats
Euro Weakens as Greece Argues with Creditors

Euro Holding On in Forex Trading

Posted: 27 Jan 2012 07:26 AM PST

Euro is managing to hold to most gains made earlier today, thanks to a bit of hope out of Greece, and disappointing economic data. However, some of the euro’s early gains have been pared, and risk aversion could overpower the 17-nation currency, and send it lower.

(...)
Read the rest of Euro Holding On in Forex Trading (150 words)

Posted on Forex News.

US Dollar Remains Lower

Posted: 27 Jan 2012 06:22 AM PST

US dollar remains lower on the Forex market, dropping as economic conditions continue to exert downward pressure. Greenback is lower as the latest news comes in about the GDP, and as Forex traders continue to weigh the latest statements from policymakers in the United States.

(...)
Read the rest of US Dollar Remains Lower (152 words)

Posted on Forex News.

Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency

Posted: 27 Jan 2012 04:50 AM PST

The Russian ruble slowed its rally against the US dollar today on speculation the nation’s central bank sold the currency. The ruble currently is above the opening price, indicating that it may yet continue its rally.(...)
Read the rest of Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency (66 words)

Posted on Forex News.

Iraqi Dinar Gains vs. Dollar, Falls Back to Opening

Posted: 27 Jan 2012 03:55 AM PST

The Iraqi dinar gained against the dollar today, but fell back to the opening level later as tensions between Sunni, Shi'ite and Kurdish political groups intensify, adding to the political turmoil and preventing an introduction of the much needed oil law.(...)
Read the rest of Iraqi Dinar Gains vs. Dollar, Falls Back to Opening (97 words)

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CAD Reaches Parity vs. USD, Retreats

Posted: 26 Jan 2012 11:45 PM PST

The Canadian dollar reached parity with its US peer yesterday, but retreated today as negative macroeconomic data from the United States decreased willingness of Forex traders to buy riskier currencies.(...)
Read the rest of CAD Reaches Parity vs. USD, Retreats (140 words)

Posted on Forex News.

Euro Weakens as Greece Argues with Creditors

Posted: 26 Jan 2012 09:34 PM PST

The euro erased its yesterday’s gains against the US dollar and was flat today as Greece struggles to reach an agreement with creditors on a debt reduction. The currency fell versus the Japanese yen yesterday and continued to fall today.(...)
Read the rest of Euro Weakens as Greece Argues with Creditors (116 words)

Posted on Forex News.

Your forexlive.com ENewsletter

2012-01-27T02:09:00.001-08:00

Your forexlive.com ENewsletter

EU’s Rehn: We are just about to close a deal on Greece PSI
EU Commissioner Rehn: ECB actions not enough by themselves
EMU Private Loan Growth At 17-Month Low In December
German FinMin: Must tackle roots of crisis in affected countries, fiscal compact producing better structure for Europe
French FinMin: ECB 3 year liquidity has reduced pressure on European banks
IMF’s Lagarde: Not “terribly positive about what done” over Greece
Deutsche bank CEO says IIF offer for private sector contribution toward Greek bailout is almost 70 percent loss – NTV
EUR/AUD on the slide again…
EMU DATA: EMU Dec sa M3 growth +1.6% y/y; MNI median.
Germany: Hesse Jan CPI Down 0.3% M/M, +1.9% Y/Y
ECB’s Paramo: Spain labour reform is necessary for jobs growth
Eurozone Dec M3 growth 1.6% y/y (expected 2.2%)
You know what…….
ECB buying Italian bonds
Portuguese 10 year govt bond yield hits new-era high at 15.24%
Talk BIS on the bid in EUR/CHF at 1.2060
Swiss KOF leading growth indicator -0.17 in January
EUR/USD slips through 1.3100
Czech CB Gov Miroslav Singer: Greece should exit euro
We got us an Italian auction

EU’s Rehn: We are just about to close a deal on Greece PSI

Posted:

If not today, maybe over weekend; ”we are VERY CLOSE” EUR/USD at session high 1.3144 on comments.

EU Commissioner Rehn: ECB actions not enough by themselves

Posted:

Actions have helped bond markets Must build further confidence in Europe ESM will have a capital base of 700 bln Euros and a lending capacity of 500 bln Need stronger financial firewalls Focus needed on reforms, growth and employment Vital to avoid a credit crunch Leaders will discuss EFSF, ESM in coming weeks, will finalize some [...]

EMU Private Loan Growth At 17-Month Low In December

Posted:

– M3 Up +1.6% Y/Y; Slowest Since January 2011 December sa M3: +1.6% y/y M3 sa 3-mo avg: +2.1% y/y SA private loans: +1.0% y/y MNI survey median: December sa M3: +2.2% y/y M3 sa 3-mo avg: +2.3% y/y SA private loans: +1.5% y/y MNI survey range: December sa M3: +1.7% to +2.4% y/y M3 [...]

German FinMin: Must tackle roots of crisis in affected countries, fiscal compact producing better structure for Europe

Posted:

Seeing more confidence in Italy, Spain now ECB is doing the necessary, but must avoid false incentives Greece must deliver to regain confidence, no firewall will work if real problems are not addressed We don’t expect Greece to default Reuters reporting.

French FinMin: ECB 3 year liquidity has reduced pressure on European banks

Posted:

Will help confidence return.

IMF’s Lagarde: Not “terribly positive about what done” over Greece

Posted:

Greek objective is 120% debt /GDP ratio Concern over Greece return to markets, IMF’s business is to avoid ” huge volatility” and “ instability” More funding needed for Europe EU partners have to focus on better integration No countries can be in debt “forever” Greece needs courage to get itself and programs back on track

Deutsche bank CEO says IIF offer for private sector contribution toward Greek bailout is almost 70 percent loss – NTV

Posted:

Ouch!!, that’s a severe old haircut….. Short back and sides

EUR/AUD on the slide again…

Posted:

Heading down towards the weekend lows around 1.2273 with a slide back to 1.2295 just now after stalling around 1.2350 in Asia. The move’s helping AUD/USD to chew through the offers around 1.0650, but more solid resistance is expected up around the recent high of 1.0688. ( note also that China was seen selling in [...]

EMU DATA: EMU Dec sa M3 growth +1.6% y/y; MNI median.

Posted:

EMU DATA: EMU Dec sa M3 growth +1.6% y/y; MNI median fcst +2.2% y/y: ECB

Germany: Hesse Jan CPI Down 0.3% M/M, +1.9% Y/Y

Posted:

Hesse CPI January: -0.3% m/m +1.9% y/y December: +0.5% m/m, +1.7% y/y — Pan-German CPI December: +0.7% m/m, +2.1% y/y — BERLIN (MNI)- Consumer prices in the western German state of Hesse fell 0.3% in January, which still lifted the annual inflation rate to +1.9% from +1.7%, the state statistics office said Friday. Downward pressure [...]

ECB’s Paramo: Spain labour reform is necessary for jobs growth

Posted:

Spain 2011 deficit overrun damaged credibility Not committed to any minimum interest rate

Eurozone Dec M3 growth 1.6% y/y (expected 2.2%)

Posted:

Oct-Dec average 2.1% y/y vs 2.5% Sep-Nov Dec private loan growth 1.0% y/y

You know what…….

Posted:

If my life depended on getting the direction of the next 30/50 pips in EUR/USD correct, I’d be in serious danger……. We sit at 1.3105, unchanged from when I sat down YESTERDAY!!!!! Where’s Joe, I think I’m gonna go play hookey…

ECB buying Italian bonds

Posted:

5 and 7 years apparently. They should get themselves some of those Portuguese ones too

Portuguese 10 year govt bond yield hits new-era high at 15.24%

Posted:

Portuguese/German 10 year govt bond yield spread has widened out to 1301 at writing from the 1292 I jotted down first thing. EUR/USD continues to bore the pants off me, back up around 1.3102. Is it home time yet?

Talk BIS on the bid in EUR/CHF at 1.2060

Posted:

We’re at 1.2072. Barriers noted at 1.2050 AND 1.2025.

Swiss KOF leading growth indicator -0.17 in January

Posted:

Weaker than median forecast of -0.05. EUR/CHF tiny bit firmer at 1.2070.

EUR/USD slips through 1.3100

Posted:

Guess market got a little unnerved by Czech central bank governor’s Greece comment. Go figure. We’re at 1.3088. Buy orders clustered 1.3060/70, sell stops through 1.3050.

Czech CB Gov Miroslav Singer: Greece should exit euro

Posted:

Whatever….. Official thinks Greece would be better off economically outside euro area. He thinks a credible exit (whatever that is) wouldn’t have to affect other countries in the currency bloc (yer right) Governor interviewed by Czech newspaper. EUR/USD steady at 1.3105 in comatose trade.

We got us an Italian auction

Posted:

Yipeeeeeeeeeeeeeeeeeeeeeeee!!!!!!!! Italian Dipartimento Del Tesoro to sell 8 bln of a new 6 month BOT maturing July 31 and 3.0 bln of a new flexi BOT maturing December 27. Results due around 10:10 GMT.

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Top Forex News

2012-01-26T09:15:00.001-08:00

Top Forex News

UK Pound Gains Against US Dollar, But Drops Against Euro
Australian Dollar Gains on Risk Appetite
CAD Jumps to Highest Since November as Fed Keeps Rates Low

UK Pound Gains Against US Dollar, But Drops Against Euro

Posted: 26 Jan 2012 08:04 AM PST

UK pound is higher against the US dollar today, gaining as other currencies, in general, are preferred to the greenback. However, the UK pound is down against the euro, as well as down against commodity currencies today.

(...)
Read the rest of UK Pound Gains Against US Dollar, But Drops Against Euro (144 words)

Posted on Forex News.

Australian Dollar Gains on Risk Appetite

Posted: 26 Jan 2012 06:34 AM PST

Australian dollar is gaining almost across the board today as risk appetite returns the Forex market. Some are interested in the idea that the news Federal Reserve won’t raise interest rates until 2014, and others assume that the Fed will increase bond purchases in the hopes that it can further stimulate the US economy, especially the labor market. Also helping the Aussie: News that Russia will start using it as a reserve currency.

(...)
Read the rest of Australian Dollar Gains on Risk Appetite (112 words)

Posted on Forex News.

CAD Jumps to Highest Since November as Fed Keeps Rates Low

Posted: 25 Jan 2012 09:35 PM PST

The Canadian dollar rallied yesterday and reached the highest since November today versus the US dollar and the Japanese yen as the Federal Reserve plans to keep interest rates exceptionally low till at least late 2014.(...)
Read the rest of CAD Jumps to Highest Since November as Fed Keeps Rates Low (109 words)

Posted on Forex News.

Your forexlive.com ENewsletter

2012-01-26T02:08:00.001-08:00

Your forexlive.com ENewsletter

Cable stalling into offers, as UK clearer buys EUR/GBP
EUR/JPY approaching reported stops…?
Press report out that private lenders said to have accepted lower interest rates in Greek deal
Different slant on earlier headline…….
USD/CAD approaches barrier at parity
Swedish FinMin: Have made substantial progress on ECB action
Snr German Official: Does not expect Troika report on 2nd Greek package to be ready by Monday’s summit
German Fin Min Scaeuble: Doesn’t expect bank rescue fund to be used
ITALY DATA: Istat Jan consumer confidence index unch.
EUR/USD remains steady
Well the market doesn’t seem to have any strong feeling this morning, so…….
French January consumer confidence index rises to 81
FRANCE DATA: 1Q mfg demand outlook weaker at -8 vs…
FRANCE DATA: January consumer morale 81; December 80.
EUR/USD touch lower in early European trade
We got us an Italian auction today
GERMANY DATA: GfK: February consumer morale seen at..
German Gfk February consumer sentiment indicator rises to 5.9%
I didn’t know this………
Russia may start buying Australian dollar as early as next month – Bloomberg

Cable stalling into offers, as UK clearer buys EUR/GBP

Posted:

There’s a cluster of offers sitting in the 1.5700/20 area which is pegging back the cable as it tries to track the EUR/USD. Cable’s sitting around 1.5703 I am also now hearing that a UK clearer is behind the run up in EUR/GBP from 0.8350 up to 0.8388

EUR/JPY approaching reported stops…?

Posted:

We’re knocking through the 102.00 level but there’s some strong resistance currently around it. There was unconfirmed reports of large stops just above yesterday which may well still be valid today. Tech resistance is up at 102.30/35 with some reasonable offers up above there at 102.55/60 and more buy stops on a break of the higher level EUR/JPY’s at [...]

Press report out that private lenders said to have accepted lower interest rates in Greek deal

Posted:

So Joe’s being told by very reliable source at major bank. Being given as reason for latest spurt higher in EUR/USD. We’re at 1.3165. And there was me thinking it had gone up because Joe and I and our mates had called for 1.3225 before 1.3025 UPDATE: It’s Greek newspaper Ethnos. Private sector creditors “will [...]

Different slant on earlier headline…….

Posted:

Reuters said 09:26 GMT: Senior German official does not expect Troika reort on second Greek package to be ready by Monday EU summit Dow Jones have 09:27: Expect Troika report on Greece by Monday Kinda different hey what. Confused? You betcha.

USD/CAD approaches barrier at parity

Posted:

We’ve been down to 1.0002 so far. (For what it worth i’m also hearing also that there are numerous bids surrounding the barrier from corporates through 0.9980 to 1.0005) That well know US investment Bank (Goldman Sachs) has apparently issued a sell USD/CAD recommendation o/n with a target of 0.9500 and a stop/loss up at [...]

Swedish FinMin: Have made substantial progress on ECB action

Posted:

Guess he means LTRO. Need further progress on Greece firewall Germany reacting to poor implementation in Greece Need more stringent Greek programme implementation Sceptical on tobin tax due to Swedish experience (me too)

Snr German Official: Does not expect Troika report on 2nd Greek package to be ready by Monday’s summit

Posted:

Therefore doesn’t expect Greece to play a major part in the summit Here come the first negative comments of the day….

German Fin Min Scaeuble: Doesn’t expect bank rescue fund to be used

Posted:

Soffin bank fund only to be used as a last resort Jan 30 summit aims to boost EU competitiveness “Not yet over the worst” of the current crisis, which can only be tackled at its source

ITALY DATA: Istat Jan consumer confidence index unch.

Posted:

ITALY DATA: Istat Jan consumer confidence index 91.6, unch from December –Jan consumer future outlook lowest since 1996 –Jan consumer current climate 102.3 vs dec 98.4 –Jan consumer sentiment on econ 75.3 vs dec 77.1 –Jan consumer personal climate 97.9 vs 97.3 in December –Jan ‘good time to buy’ balance -88 vs -99 dec –Jan [...]

EUR/USD remains steady

Posted:

Presently at 1.3112. Just being told real money sold another clip on rally above 1.3120 just now.

Well the market doesn’t seem to have any strong feeling this morning, so…….

Posted:

Let’s have a ForexLive poll and help point everyone in the right direction We sit at 1.3115. What’ll we see first 1.3025 or 1.3225? Any reasoning behind choice would be totally cool, but as usual not obligatory.

French January consumer confidence index rises to 81

Posted:

From 80 in December.

FRANCE DATA: 1Q mfg demand outlook weaker at -8 vs…

Posted:

FRANCE DATA: 1Q mfg demand outlook weaker at -8 vs 4Q -6 –1Q mfg foreign demand outlook firmer at +2 vs 4Q -4 –January mfg capacity utilization 82% vs October at 83% –1Q sa mfg PPI seen flat q/q as in 4Q

FRANCE DATA: January consumer morale 81; December 80.

Posted:

FRANCE DATA: January consumer morale 81; December 80 – Above expected; MNI analysts survey median forecast 79 – Buying-propensity down three points – Future inflation worries down two points – Jobless fears down three points – See MNI MainWire for details

EUR/USD touch lower in early European trade

Posted:

We’re at 1.3106 from around 1.3120 when I parked my bum. One source noted a real money seller in the 1.3110/15 area. I’d like to tell ya where the stops are, but to be honest I just don’t know at the moment.

We got us an Italian auction today

Posted:

Dipartimento Del Tresoro to sell new 2 year zero coupon CTZ Indicative amount between 3.75 and 4.5 bln Also to tap linker bonds 2.15% September 2014 BTPei for between 250-500 mln Results due around 10: 15 GMT.

GERMANY DATA: GfK: February consumer morale seen at..

Posted:

GERMANY DATA: GfK: February consumer morale seen at 5.9, January revised up to 5.7 from 5.6 – GfK consumer morale higher than forecast; MNI median: 5.6 – GfK: consumption to have stability role, prevent recession slide – See MNI MainWire for details

German Gfk February consumer sentiment indicator rises to 5.9%

Posted:

From revised 5.7 in January, better than Reuter’s median forecast of 5.6. Meanwhile euro stoxx 50 futures up +0.8%, DAX and CAC 4o up +0.7%. EUR/USD up 3 pips since I sat down.

I didn’t know this………

Posted:

Just reading a Reuter’s market piece and learnt that “Japanese exporters have set their euro rate at 105 yen, so many traders believe selling pressure will intensify ahead of that level.” OK we’re around 3 big figures away at the moment, but I guess it’s something to tuck away in the back of one’s mind……….

Russia may start buying Australian dollar as early as next month – Bloomberg

Posted:

Headline came out on Bloomberg a little while ago, at 05:30 GMT to be exact. AUD/USD trading around session high 1.0640. The above news has no doubt helped underpin the pairing.

Top Forex News

2012-01-25T09:14:00.001-08:00

Top Forex News

Greenback Gains as Risk Aversion Rises
Euro: Good News Out of Germany, But All Eyes are on Greece
Pound Drops as UK GDP Declines
Thai Central Bank Cut Interest Rates, Baht Weaker
AUD Rises Even as Inflation Stalls, Reaches Record vs. JPY
Canada’s Dollar Weakens as Growth of Retail Sales Slows

Greenback Gains as Risk Aversion Rises

Posted: 25 Jan 2012 07:51 AM PST

Greenback is gaining today on the Forex market as risk aversion rises. Uncertainty over what’s next for Greece, and how it will affect the eurozone, is pressuring the euro and helping the US dollar. Additionally, many Forex traders and investors are waiting for the latest policy announcement from the Federal Open Market Committee.

(...)
Read the rest of Greenback Gains as Risk Aversion Rises (129 words)

Posted on Forex News.

Euro: Good News Out of Germany, But All Eyes are on Greece

Posted: 25 Jan 2012 06:27 AM PST

German business sentiment beat expectations for a third month in a row, but the good news has been overwhelmed by disappointment over developments in Greece. The latest in the Greek debt saga has Forex traders worried about what’s next, and that is dragging the euro lower, in spite of other news that is favorable to risk appetite.

(...)
Read the rest of Euro: Good News Out of Germany, But All Eyes are on Greece (142 words)

Posted on Forex News.

Pound Drops as UK GDP Declines

Posted: 25 Jan 2012 05:00 AM PST

The Great Britain pound fell against the US dollar and pared its gains versus the Japanese yen after the UK Office for National Statistics reported that the nation’s GDP shrank in the last quarter, adding to signs than Britain is entering recession.(...)
Read the rest of Pound Drops as UK GDP Declines (89 words)

Posted on Forex News.

Thai Central Bank Cut Interest Rates, Baht Weaker

Posted: 25 Jan 2012 04:23 AM PST

The Thai baht fell today after the nation’s central bank reduced its key interest rate in an attempt to spur economic growth that has slowed last year because of the biggest floods in almost 70 years.(...)
Read the rest of Thai Central Bank Cut Interest Rates, Baht Weaker (66 words)

Posted on Forex News.

AUD Rises Even as Inflation Stalls, Reaches Record vs. JPY

Posted: 24 Jan 2012 09:04 PM PST

The Australian dollar strengthened today even after a report showed that nation’s consumer price inflation stalled in the fourth quarter of 2011. The currency reached a record high since November against the yen as Japan’s trade deficit widened.(...)
Read the rest of AUD Rises Even as Inflation Stalls, Reaches Record vs. JPY (120 words)

Posted on Forex News.

Canada’s Dollar Weakens as Growth of Retail Sales Slows

Posted: 24 Jan 2012 07:35 PM PST

The Canadian dollar fell against its US counterpart today after Canadian retail sales slowed, hinting that Canada’s economy has problems that may slow economic growth. The currency was higher versus the yen.(...)
Read the rest of Canada’s Dollar Weakens as Growth of Retail Sales Slows (90 words)

Posted on Forex News.

Your forexlive.com ENewsletter

2012-01-25T02:07:00.001-08:00

Your forexlive.com ENewsletter

IMF’s Lagarde: Equilibrium between private and public sector in Greek debt negotiation is a “concerning question”
Few other yen levels to keep an eye on…
Repeat: Ifo: Germany Jan Business Climate At Five-Month High
NS Grice: Fall in UK Q4 GDP Relatively Minor
Update:Ifo:Germany Business Climate At Five-Month-Month High
EU losing hope for voluntary Greece bond deal – German press
Chunky offers sitting up in USD/JPY at 78.10!
Analysis: Q4 GDP Falls By More Than Median; Below BOE Fcast
BOE Minutes: Vote Unanimous; MPC Split On Inflation Outlook
UK DATA: Q4 Preliminary GDP -0.2% q/q; +0.8% y/y…..
Bank of England MPC voted 9-0 to hold rates, QE steady
UK Q4 GDP -0.2 %m/m, +0.8 %y/y (vs .exp -0.1% m/m and +0.8%y/y)
Ifo: Germany Business Climate At Five-Month High In January
EUR/USD session high 1.3051 Woo Hoo
ITALY DATA: November retail sales fell 0.3% m/m in…
USD/JPY breaks 78.00 on custodial buying…..
Ifo German business climate index 108.3 in January
Important German data looms
EUR/CHF bolstered by take-over talk…….
USD/JPY steady in early Europe, holding onto recent gains

IMF’s Lagarde: Equilibrium between private and public sector in Greek debt negotiation is a “concerning question”

Posted:

If haircut on private sector Greek debt is not enough, public holders of debt will have to participate in renegotiation EUR/USD trades lower on comments, now at 1.2980. Infamous US investment house seen notable sller in lastest leg lower.

Few other yen levels to keep an eye on…

Posted:

55 day MA in EUR/JPY comes in at 101.71. Could be significant with a couple of closes above it. High today has been 101.88 200 day MA in AUD/JPY is at 81.54 which was broken overnight in Asia after the AUD CPI data. A close above here would be 1st since Oct 2011, and a couple [...]

Repeat: Ifo: Germany Jan Business Climate At Five-Month High

Posted:

– Adds Results for Sectors Jan MNI analysts survey Dec Nov median range ———————————————————————— Business sentiment: 108.3 107.6 106.2 – 108.4 107.3 106.7 Current conditions 116.3 116.8 98.0 – 117.7 116.7 116.7 Six-month outlook: 100.9 99.3 98.0 – 115.0 98.6 97.6 – FRANKFURT (MNI) – Optimism among German businesses grew for the third consecutive month [...]

NS Grice: Fall in UK Q4 GDP Relatively Minor

Posted:

LONDON (MNI) – The fall in GDP in Q4 was “relatively minor”, the UK’s Chief Statistician Joe Grice said Wednesday. In a press conference following the release of preliminary GDP data, Grice said that there were no special factors behind the latest fall in growth. GDP fell 0.2% on the quarter in Q4 and was [...]

Update:Ifo:Germany Business Climate At Five-Month-Month High

Posted:

EU losing hope for voluntary Greece bond deal – German press

Posted:

Just been sent headline by contact rather than reading it off newswire, so not sure what newswire the story comes from. But it’s out there. UPDATE: Apparently story in Greek press overnight and picked up in FT. I’m now totally confused, but the headline hasn’t helped EUR/USD any. Seems like old news to me, but there we [...]

Chunky offers sitting up in USD/JPY at 78.10!

Posted:

Been told there is about $800 mio on offer at 78.10 on the EBS interbank matching machine … May sound a lot… it is… but in USD/JPY terms this could be easily taken out. We have touched the level briefly but USD’s sitting back at 78.06 for now

Analysis: Q4 GDP Falls By More Than Median; Below BOE Fcast

Posted:

–Q4 Preliminary GDP -0.2% q/q; +0.8% y/y LONDON (MNI) – Economic output fell by more than expected in the fourth quarter increasing the likelihood that the UK will fall back into recession, figures from National Statistics revealed Wednesday. The data, along with dovish comments from Bank of England Governor King yesterday, are likely to fuel [...]

BOE Minutes: Vote Unanimous; MPC Split On Inflation Outlook

Posted:

LONDON (MNI) – Bank of England Monetary Policy Committee members voted unanimously at their January meeting to keep policy unchanged, but the minutes highlighted divisions over the inflation outlook and the likelihood of more quantitative easing. The nine to zero vote at the January meeting in favour of unchanged policy had been widely expected, but [...]

UK DATA: Q4 Preliminary GDP -0.2% q/q; +0.8% y/y…..

Posted:

UK DATA: Q4 Preliminary GDP -0.2% q/q; +0.8% y/y –Below median of -0.1% q/q; +0.8% y/y ———————————————————————— Economic output fell by more than expected in Q4 increasing the likelihood that the UK will fall back into recession. The data, along with dovish comments from Bank of England Governor King yesterday, are likely to fuel speculation [...]

Bank of England MPC voted 9-0 to hold rates, QE steady

Posted:

As expected. Some MPC members thought further expansion of QE was likely to be required Some saw risk that spare capacity greater than assumed in November inflation report Others saw risks to inflation more finely balanced, less clear that inflation would fall below target Considerable downside risks from global economy, most serious near-term risks moderated UK [...]

UK Q4 GDP -0.2 %m/m, +0.8 %y/y (vs .exp -0.1% m/m and +0.8%y/y)

Posted:

From Q3′s flat m/m, +0.6 y/y Slightly worse than expected but market already pre-empted the news with a 50 pip drop, … cable little changed on the intial reaction Now hearing bids are placed down at 1.5520/35 from the same guys who sold up in the 1.5620′s in Asia earlier.

Ifo: Germany Business Climate At Five-Month High In January

Posted:

Jan MNI analysts survey Dec Nov median range ———————————————————————— Business sentiment: 108.3 107.6 106.2 – 108.4 107.3 106.7 Current conditions 116.3 116.8 98.0 – 117.7 116.7 116.7 Six-month outlook: 100.9 99.3 98.0 – 115.0 98.6 97.6 – FRANKFURT (MNI) – Optimism among German businesses grew for the third consecutive month in January, overshooting most forecasts [...]

EUR/USD session high 1.3051 Woo Hoo

Posted:

I deem the experiment on EUR/USD carried out by ForexLive “a success” Love the song, I’m gonna take every opportunity I get to play it

ITALY DATA: November retail sales fell 0.3% m/m in…

Posted:

ITALY DATA: November retail sales fell 0.3% m/m in SA nominal terms on a drop in both food and non-food sales, posting the ninth m/m decline over a 12-month period. In y/y terms, retails sales fell 1.8%, down from -1.4% in October. The three month-moving average contracted 0.5% in the months from September to November, [...]

USD/JPY breaks 78.00 on custodial buying…..

Posted:

The move through 78.00 knocked out some buy stops to 78.08. there are more reportedly up at 78.30 ahead of a bigger hurdle which is the 200 day MA at 78.35. , last broken in April 2011 EUR/JPY’s broken up through the 55 day MA at 101.71 as a result , triggering some stops buys [...]

Ifo German business climate index 108.3 in January

Posted:

Better than Reuters’ median forecast of 107.5. EUR/USD hits 1.3050, presently at 1.3042. The experiment was a success. I’m done for the day UPDATE: European corporate selling seen around 1.3050 I’m being told by reliable source.

Important German data looms

Posted:

Well kinda important, let’s not go overboard. 09:00 GMT: Ifo German business climate index for January expected 107.5 from 107.2.

EUR/CHF bolstered by take-over talk…….

Posted:

Swiss company Roche are making a hostile bid of $5.7 bln for US company Illumina INC, whioch is weakening the swiss franc this morning .. The move is being more reflected in the EUR/CHF cross with a jump to 1.2109 just now . USD/CHF is holding steady around 0.9285 On the orders i haven’t heard much so [...]

USD/JPY steady in early Europe, holding onto recent gains

Posted:

Sits at 77.95, effectively unchanged on the day. US custodial buying being seen in recent trade, although they haven’t really managed to budge it as yet.

Top Forex News

2012-01-24T09:09:00.001-08:00

Top Forex News

US Dollar Mixed as Traders Look for Direction
Euro Lower as Greece Causes Trouble — Again
Waning Optimism on Forex Market Weakens Rand
Yen Goes Down as European Manufacturing & Services Improve
Indian Rupee Rises. Gains Unsustainable?
Pound Reverses Gains

US Dollar Mixed as Traders Look for Direction

Posted: 24 Jan 2012 08:29 AM PST

Forex traders are looking for a little direction today, and, as a result, the US dollar is mixed. Greenback is higher against the euro, thanks to fresh concerns about the Greek debt situation, but lower against the Great Britain pound. With Fed heading into a two-day meeting, many are waiting to see what policy announcements will be made.

(...)
Read the rest of US Dollar Mixed as Traders Look for Direction (143 words)

Posted on Forex News.

Euro Lower as Greece Causes Trouble — Again

Posted: 24 Jan 2012 07:19 AM PST

Greece faded from the spotlight for a little while, but the erstwhile country is back on center stage as debt talks once again look to be on the verge of collapse. As a result of uncertainty in Greece, and due to other issues in the eurozone, it is little surprise that the euro’s recent rally has lost momentum.

(...)
Read the rest of Euro Lower as Greece Causes Trouble — Again (139 words)

Posted on Forex News.

Waning Optimism on Forex Market Weakens Rand

Posted: 24 Jan 2012 06:31 AM PST

The South African rand fell today as talks among Greece and private bondholders no longer cause optimism among investors, but rather make them concerned. Worsening market sentiment has a negative impact on assets of emerging economies.(...)
Read the rest of Waning Optimism on Forex Market Weakens Rand (61 words)

Posted on Forex News.

Yen Goes Down as European Manufacturing & Services Improve

Posted: 24 Jan 2012 04:17 AM PST

The Japanese yen declined today after positive data about European manufacturing and service industries reduced demand for safety of Japan’s currency.(...)
Read the rest of Yen Goes Down as European Manufacturing & Services Improve (73 words)

Posted on Forex News.

Indian Rupee Rises. Gains Unsustainable?

Posted: 23 Jan 2012 10:59 PM PST

The Indian rupee strengthened today after the Indian central bank kept its key interest rate unchanged in an effort to support the nation’s economy and the currency, but outlook for the rupee remained bearish.(...)
Read the rest of Indian Rupee Rises. Gains Unsustainable? (179 words)

Posted on Forex News.

Pound Reverses Gains

Posted: 23 Jan 2012 08:11 PM PST

The Great Britain pound reversed its yesterday’s upward trend against the US dollar and the Japanese yen today and stayed flat versus the euro after tumbling on the last trading session as analysts expect a report later this week to show that the UK economy is slowing.(...)
Read the rest of Pound Reverses Gains (118 words)

Posted on Forex News.