| ForexLive US Wrap: the week ended on Thursday Posted: Italian 10-year bonds fall to euro-era lows after weak auction, ECB said to be buying in secondary market MF Global unlikely to survive weekend U Mich consumer sentiment revised to 60.9 from 57.5 US spending as expected in PCE report, income soft Japan and Brazil showing interest in EFSF CFTC report shows yen longs doubled [...] |
| Maybe Bini Smaghi could be PM Posted: Berlusconi has asked Bini-Smaghi to step down from the ECB executive but he continues to refuse. France wants to install another member because it only has one representative on the 27-member council. Bin-Smaghi has every right to remain in his post until the end of his term. He was expecting to be named to lead [...] |
| Stocks touch highs Posted: A buy on Bloomberg TV said the October gain is the largest since 1896. Booming economy I guess. |
| Yen the only mover in CFTC report Posted: Change in JPY +26K now at +55K Change in EUR +1K now at -77K Change in GBP +1K now at -50K Change in AUD +2K now at +22K Change in NZD +1K now at +9K Change in CAD +3K now at -18K There have been some problems with the long form of the CFTC Commitment of Traders [...] |
| Safe to say EUR to close above 200dma Posted: EUR/USD has been pressing lower in the past few minutes but it's fairly safe to assume it will close above the 200-day moving average at 1.4102 for the first time since early Sept. It will also be the first weekly close above the 100dma and 55dma since the week ending Aug. 25. Unless there is [...] |
| 7.0 magnitude earthquake hits Peru Posted: ISGS says it hit in the southwest, that’s near Cuzco/Machu Pichu |
| UBS calls for 50bps cut at ECB Posted: UBS is out with a note saying they expect a 50bps cut on Thurs. Earlier Citi was out saying no change but a 50bps cut in December Most banks say no change but a handful are at -25bps |
| Big week ahead for economic data Posted: If the market is quiet today it's because they’re gearing up for another wild week. Mon: Chicago PMI, Canadian GDP, German retail sales Tues: ISM manufacturing, UK GDP, RBA meeting Wed: FOMC, ADP jobs, German jobs, Thurs: ISM non-manufacturing, ECB meeting Fri: Non-farm payrolls And many more. |
| US House Repubs Consider Balanced Budget Amendment Options Posted: –House GOP Ponder Pure Vs (Slightly) More Practical Versions –House Speaker: Reviewing ‘At Least A Half Dozen’ BBA Alternatives –Debt Ceiling Deal Requires Votes in Congress By Dec. 31 By John Shaw WASHINGTON (MNI) – As House Republican leaders prepare for a vote this fall on a balanced budget constitutional amendment, they are mulling over [...] |
| Can we break the US ranges? Posted: I don’t think anyone would be heartbroken if the market limped to the finish line today. Everything is trading basically right in the middle of the North American ranges. EUR/USD 1.4135-1.4189 (54 pips) USD/JPY 75.70-75.79 (9 pips) GBP/USD 1.6083-1.6152 (69 pips) USD/CHF 0.8612-0.8651 (39 pips) AUD/USD 1.0658-1.0732 (74 pips) USD/CAD 0.9920-0.9970 (50 pips) It’s time [...] |
| EMU Data: MNI Survey Of Econ Data Forecasts Oct 31 to Nov 4 Posted: HICP (flash) Jobless PPI – October – – September – – September - %yoy rate (%) %mom %yoy Median Forecast 2.9 10.0 0.3 5.8 High forecast 3.0 10.0 0.5 6.0 Low forecast 2.8 10.0 0.2 5.7 Previous period 3.0 10.0 -0.1 5.9 - Number of responses 11 7 6 6 - 4Cast 2.8 10.0 0.3 [...] |
| Germany Data: MNI Survey Of Econ Data F-casts Oct 31 to Nov 4 Posted: Retail Sales Jobless – October – September – rate change %mom %yoy (%) (000s) Median Forecast 1.0 1.0 -11.0 6.9 High forecast 1.5 1.5 -10.0 6.9 Low forecast 0.3 0.6 -20.0 6.9 Previous period -2.9 2.2 -26.0 6.9 - Number of responses 8 4 10 8 - 4Cast n/a n/a -17.0 6.9 Barclays Cap. 1.1 [...] |
| Analysis: Euro Deal Gives Fed Reprieve;Future Ease Possible -2 Posted: By Steven K. Beckner Continued In Oct. 4 Congressional testimony, Fed Chairman Ben Bernanke said, “the recovery is close to faltering.” And he said “we need to make sure that the recovery continues and doesn’t drop back.” He said “we are much further away from full employment than we are from price stability.” What’s more, [...] |
| Analysis:Euro Deal Gives Fed Reprieve;Future Ease Possible -1 Posted: By Steven K. Beckner (MNI) – Thursday’s agreement among European leaders to resolve the Greek debt crisis must be almost as much of a relief to the Federal Reserve as it is for financial markets. The tentative deal to reduce Greece’s debts, recapitalize banks and effectively enlarge a euro zone bailout fund makes it even [...] |
| JPMorgan hikes US GDP forecast Posted: On Aug 19, JPM cut its Q4 forecast to 1.0% from 2.5% when the S&P 500 was at 1122. Today, with the S&P 500 at 1281 they are backtracking and raising the Q4 forecast back to 2.5% because of strong September data, stocks and momentum from Q3. |
| He must be talking about soccer or something Posted: Berlusconi: Italy ‘most solid’ country after Germany. |
| S&P affirms AAA-rating on EFSF Posted: Follows a similar move by Fitch earlier. |
| What the heck time is it on Monday? Posted: The UK and most of Europe turns back their clocks one hour on Sunday, meaning UK time will be equal to GMT and the overlap between US-EU trading will be an additional hour. Next weekend North America turns its clocks back an hour and we’re back to normal. Except for Japan and most of Asia, [...] |
| FT: Japan to contribute to EFSF Posted: The FT earlier reported that China could buy €100B of newly issued EFSF bonds. Japan now said to be on board. Update: Brazil says it would lend FX reserves as well. They haven’t decided on how much. |
| Fitch: 50% Greek Haircut If Accepted Would Be Default – Text Posted: PARIS (MNI) – Fitch Ratings Friday issued the following statement in which it made clear that if the recently decided 50% haircut on the value of privately-held Greek sovereign debt is accepted by banks, it would constitute a credit event: “The framework commitments agreed at the Euro Area Heads of State summit yesterday represent a [...] |
The Great Britain pound gained this week against the dollar and the yen as the optimism caused by the revelation of the plans to battle the 
The Swiss franc gained as the problems in Europe made traders flock to the currency, even though it’s hard now to be consider the Swissie a ”safe currency” after the 
The optimism about Europe has left markets and traders were leaving riskier currencies, especially the euro. As a result, the Canadian dollar fell versus the ”safe” yen, but gained against the euro.(...)
