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Portugal Bailout Aims To Cut Outlays, Boost Revenues: Details

Posted:

LISBON (MNI) - The E78 billion Portugal bailout package to be agreed formally between Lisbon, the European Commission, the ECB and the IMF requires a streamlining of government and reductions in a wide range of public services, according to a text of the Memorandum of ...

UK April services PMI 54.3

Posted:

Down from 57.1 in March,  weaker than median forecast of 55.7. The general talk of a "weak" number was right on the ball yet again, although the specific rumour of  55.4 proved optimistic. Cable down.  As mentioned earlier this morning stops through 1.6450 and 1.6430.  We're presently at 1.6475 having been as ...

UK services PMI rumour

Posted:

Talk of 55.4, not much lower than forecast 56.0. We'll see in couple of minutes.

Cable steady ahead of data, Bank of England rate decision

Posted:

Cable sits at 1.6535, very little changed from when I arrived.  Market awaits 08:30 GMT data and Bank of England rate decision after that. Talk in market UK services PMI is going to be "weak"  Forecasts looking for 56.0 read, down from previous 57.1.

AUD/USD slightly easier on day, but ACB interest seen

Posted:

Down at 1.0717 from around 1.0735 when I arrived. Aussie getting hit on crosses, EUR/AUD and AUD/JPY.  However on the flip side, Asian sovereign buying interest in 1.0700/10 area is providing some much-needed support. Sean mentioned decent stops through 1.0670 if aussie bears get through ACB interest. UPDATE:  Reports now ACB selling EUR/USD in ...

EUR/AUD: Not that I really follow this cross…..

Posted:

But model fund buying being seen this morning. Will help partly explain the slow crawl higher in EUR/USD.

C’mon down……….

Posted:

U.S. non-farm payrolls will soon be upon us. So give it your best shot. Just hit this link and give yourself the chance to win a luvverly ForexLive t-shirt.

Portugal To See Three Years Of Pain Despite E78 Bln Aid: FT

Posted:

FRANKFURT (MNI) - A recession extending to 2012 and three years of pain await Portugal, despite the E78 billion financial aid package that Lisbon recently agreed with the European Commission, European Central Bank and the International Monetary Fund, the Financial Times said on Thursday. ...

Irish April services PMI falls to 50.2 from 51.1 in March

Posted:

But services firms' staffing levels rise for the first time since February 2008....

Eurostoxx futures up 0.3% early

Posted:

DAX futures up 0.5%,  CAC 40 futures up 0.4%.

Cable touch firmer in Asia

Posted:

Sits at 1.6522, up from North American close Wednesday down around 1.6490 Bank of England rate decision day. Widely expected the Old Lady will continue to sit on it's hands. Data due: 08:30 GMT: UK services PMI for April expected 56.0 from previous 57.1 08:30 GMT: UK official reserves for April 11:00 GMT: Bank of ...

EUR/USD trades touch firmer in Asia

Posted:

EUR/USD sits at 1.4855, marginally firmer from a North American close Wednesday around 1.4825.  Talk has a 1.4750-1.4950 dnt in place, apparently expiring tomorrow, and those parameters are holding price action at the present time. ECB rate decision today.  A hike would come as a bit of a shock. If no ...

ForexLive Asian market wrap: AUD falls after disappointing retail sales

Posted:

Australian retail sales for March -0.5% MoM, against expectations of +0.5% MoM Building approvals stronger than expected at +9.3% MoM New Zealand unemployment rate better than expected at 6.6% in April Fed's Lockhart sees employment growth slow and steady NIESR lowers 2011 UK growth forecast Precious metals consolidate after more overnight losses caused by further ...

US DATA: April Monster Index rose 9 points to 145 vs.

Posted:

US DATA: April Monster Index rose 9 points to 145 vs 136 in March, and was up 9.0% from the index level of 133 in April 2010. The year/year rise marks the 15th consecutive month of reported annual gains, Monster said, noting that the April data suggests confidence in the ...

Some professional colour on the NFP

Posted:

Just read two professional analyst report's on tomorrow's non-farm payroll numbers and both are suggesting that the liklihood is for a poorer than expected number. Based on recent ISM surveys and the ADP jobs report, and taking into account that public sector work places are being cut to the tune of ...

AUD/USD bounces off 20-day MA

Posted:

The 20-day SMA has traditionally been a favourite indicator for AUD/USD traders. The market last broke above it on March 23rd at 1.0070 and went for a nice 940 pip rally (hope somebody out there got it all :) ) This is the first time since then that the level ...

EUR/USD: Intraday offers capping for now

Posted:

The intraday offers I mentioned earlier between 1.4850/65 seem to be capping the market for now. About EUR200 million every 5 pips is how they were described and EUR800 million is a sizeable amount in a Tokyo-less market (Korea and Indonesia are also closed I believe). AUD/USD is back near session ...

NFP contest time again

Posted:

Click on this link and add your best guess to the growing list. Mr Lockhart of the Federal Reserve Bank said earlier today, that he expects the economy to add roughly 200,000 jobs each month for the remainder of the year. Remember not to take numbers which have already been ...

AUD struggling on the crosses

Posted:

AUD/USD is on its session lows at 1.0705 and EUR/USD is near its session highs at 1.4850, a sure sign of some significant cross flows. EUR/AUD is 120 pips higher on the session and is getting close to previous daily highs at 1.3910.

Australian March retail sales -0.5% MoM

Posted:

Bids starting at 1.0705 have stalled the fall of the AUD/USD post disappointing retail sales figures. Expectations were for a 0.5% rise. In other data, March building approvals were much stronger than expected at +9.1% MoM
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