October « 2010 « AutomaticForex

Latest Poll Shows Consensus Downgrades on US Growth
Reuters’ monthly poll on US growth has knocked down GDP in 2011 to 1.6% from 1.8% in August. The surprise,to me,is the fall in 2012 expectations which have hit 2.1% from 2.6%. There is a 31% chance of a recession compared to 25% last month. Economists are always behind the curve but they’re […]
Fitch Downgrades Five Spanish Regions
And says the outlook remains negative. The euro won’t fail or succeed based on Greece,Portugal and Ireland. Spain and Italy will be where the war is won or lost. […]
EUR Hits Session High,Germany Still Opposed to Eurobonds
A spokesperson for German fin min Schaeuble said he remains opposed to joint Eurobonds but will wait to see what the European Commission proposes. Looks like a run through some stops pushed EUR/USD to a session high of 1.3748 but we’ve come back. […]
Geithner Says Europe Can Tame Crisis,US Helping
The Treasury Secretary’s on CNBC with a vote of confidence for Europe. Said Europe is absolutely committed and will do what’s necessary Also said Europe is working on a closer economic union Europe recognizes it needs more force behind its commitments to solve crisis US being as helpful as possible to solve dollar-funding needs US […]
US August Retail Sales Flat;Ex-Mtr Veh +0.1%;Below Forecast
–Sales Excluding Both Motor Vehicles And Gas Up 0.1%;Gasoline +0.3% By Kevin Kastner WASHINGTON (MNI) – Retail sales at U.S. stores were virtually flat in August,as motor vehicle sales declined and sales excluding motor vehicles posted a soft 0.1% rise in the month,data released Wednesday morning by the U.S. Commerce Department showed. […]
ANALYSIS:US Aug PPI Flat/Core +0.1%,Moderates Prior Mo Surge
–YOY Rates are +6.5% Overall PPI and +2.5% Core PPI By Joseph Plocek WASHINGTON (MNI) – The August producer price data came in a little better than expected,alleviating the prior month’s jump. August PPI printed flat,core +0.1% (+0.0560% unrounded) for +6.5% overall and +2.5% core over the year. All were less than expected. […]
US DATA:Aug retail sales flat,ex-mtr veh +0.1%,….
US DATA:Aug retail sales flat,ex-mtr veh +0.1%,both well below expecations of matching 0.3% gains and following downward revisions to the previous two months. Mtr veh sales -0.3%,gasoline station sales +0.3%,while the remaining categories +0.1% combined. Sales were up for larger categories such as grocery stores and nonstore retailers,but there […]
US DATA:Aug PPI flat,core +0.1% (+0.0560% for……
US DATA:Aug PPI flat,core +0.1% (+0.0560% unrounded) for +6.5% YOY overall and +2.5% YOY core,all less than expected. In core,nonwood store fixtures -2.5% was a record,commercial furniture -1.1%,cars -0.4% and lt trucks +0.1%,cosmetics and household flatware &glasses flat,and dips in some machinery and computers held down […]
Nothing Positive in First Glance at Retail Sales
Headline sales were flat in August,short of expectations for a 0.2% rise. July was revised to +0.3% from +0.5%. Ex-autos +0.1% vs. +0.3% exp,July revised to +0.3% from +0.5%. Ex-autos,gas and building materials +0.1% vs. +0.3% in July Aug PPI +6.5% y/y,in-line with expectations Definitely negative news and risk trades have […]
US Retail Sales 0.0% vs +0.2% Exp
More to come […]
S&P:German Bank Ratings Vulnerable
If the European debt crisis spreads German banks could be downgraded,S&P says. They say it’s very likely German lenders could manage a Greek default without assistance from the government. Bank profit outlook is negative but not threatening unless recession hits or sovereign crisis grows. I don’t like their chances. […]
Helping our good friends
Please hit this link and then hit the next link and vote for Market News International in the FX Week best banks awards. They do a great job of providing us with a very useful newswire on this site. Your participation is very much appreciated. […]
Italian Gov’t Wins Austerity Vote
The confidence vote on Italy’s austerity package passed through the lower house. Final approval is expected in about six hours. […]
EUR/CHF Drifting Toward 1.20
One of the first things I check on my Blackberry every morning is EUR/CHF. It is in the danger zone at 1.2033 — the lowest since the day the peg was announced. Nothing in the newsflow today to suggest a run at 1.2000 but it’s early. S&P futures 10.6 above fair value. US retail sales […]
Austrian FinMin:Greek collateral issue no longer explosive for euro zone
Seeking collateral under new plan would be expensive Doesn’t want to consider possible Greek default,would be expensive EUR/USD resides close to its’ session high,presently at 1.3730. As Joe mentioned earlier talk of sell orders 1.3740/50 ahead of newly-minted barrier option interest at 1.3750. Buy stops through 1.3755. […]

Forex:GBP/JPY makes it to 129.50 on UK GDP

By zagros,on October 27th,2010%

FXstreet.com (Barcelona) -The British currency remains on a recovery mode on Wednesday,reaching quotes as high as 129.47. The pair was sold-off aggressively earlier on the week,hitting a fresh 20-month low just below 126.50. However,the Sterling pared losses after a less worse-than-expected UK GDP numbers in Q3,which helped the pair to . . . →Read More:Forex:GBP/JPY makes it to 129.50 on UK GDP

Pound Firms as Economic Growth in UK Exceeds Forecasts

By zagros,on October 27th,2010%

The dire forecasts from the orthodox Keynesians that spending cuts will render England the next Lithuania or perhaps even Greece have yet to be confirmed after the preliminary GDP report released today. The quarter to quarter comparison came in at a positive 0.8%,better than the anticipated 0.4% increase. After the report,S and P . . . →Read More:Pound Firms as Economic Growth in UK Exceeds Forecasts

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By zagros,on October 26th,2010%

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Euro and Equity Markets at Risk As Dollar Gets Bullish

By zagros,on October 26th,2010%

EUR/USD

The EUR/USD remained under pressure on the back of broader dollar strength generated by uncertainty over the potential and scope of quantitative easing from the Fed. Strong housing data yesterday planted the seed of doubt which was reinforced by improvements in consumer confidence and manufacturing. Greenback strength in early trading led traders to sell . . . →Read More:Euro and Equity Markets at Risk As Dollar Gets Bullish

Pound Trades Abound but Timing and Trend Present a Level of Difficulty

By zagros,on October 26th,2010%

We had relatively few major market movers on the docket Tuesday;but those that were present were certainly volatility drivers. Most notable on the day was the performance of the British pound and US dollar. Instead of relying on the underlying fundamental trend of risk appetite / risk aversion (which were otherwise flat anyway),FX . . . →Read More:Pound Trades Abound but Timing and Trend Present a Level of Difficulty

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Forex:GBP/JPY makes it to 129.50 on UK GDP

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Pound Firms as Economic Growth in UK Exceeds Forecasts

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Euro and Equity Markets at Risk As Dollar Gets Bullish

Pound Trades Abound but Timing and Trend Present a Level of Difficulty

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