Japan draft policy guideline: Forex market stability extremely important for smooth economic revitalisation

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• Japan draft policy guideline: Forex market stability extremely important for smooth economic revitalisation
• EUR/USD touch firmer in slow start to European trade
• EU’s Rehn: Greece must speed up reform, privatization
• Eurostoxx 50 futures down -0.9% early
• Japan Apr Consumer Confidence Hits 2-Year Low On Quake
• ECB’s Nowotny: Would be economic nonsense for Greece to leave euro zone – Paper
• JAPAN DATA: Consumer Confidence index from the…….
• European stocks seen opening lower
• Japan s.a April consumer confidence index 33.1
• EUR/USD sees little net change during Asian trade
• Moody’s: Possible Japan banks’ ratings downgraded if Tepco loans forgiven
• US NABE Text: Sees FFR Near Zero Thru 2011, Hikes In 2012
• NABE Forecasters See Zero FFR Thru End 2011; Under 2% End ’12
• US DATA: NABE May Outlook Survey revises growth ests.
• ForexLive Asian market wrap: EUR holds up despite Strauss-Kahn arrest
• MNI Survey: Japan Q1 GDP Seen -1.8% Annualized On Quake
• Hedge funds selling JPY on Moody’s rating
• EUR/USD: Hanging onto gains
• Japan Quake: Japan Nuke Crisis Worsens Again; To Revise Plan
• EUR/JPY roars back above 114.00

Japan draft policy guideline: Forex market stability extremely important for smooth economic revitalisation Posted: Want BOJ to share govt policy stance, support economy via flexible monetary policy Consumption likely to decline, jobs situation to remain severe for some time on quake impact Power constraints may linger to some degree until fiscal 2012/13 and beyond Will implement social security, tax reform over next 3 years while securing reconstruction funding Will [...]

EUR/USD touch firmer in slow start to European trade Posted: Presently up at 1.4112. Talk central bank bought around 1.4110, which got us as high as 1.4119.

EU’s Rehn: Greece must speed up reform, privatization Posted: No alternative to reform programme in Greece

Eurostoxx 50 futures down -0.9% early Posted: Oil has given up a further half a buck since I sat down, NYM light crude now off one and a half bucks as I type. Getting further reports of decent buy orders layered from 1.4040 down to psychological 1.4000. EUR/USD sits effectively unchanged in past couple of hours, presently at 1.4098. I guess Nowotny comment [...]

Japan Apr Consumer Confidence Hits 2-Year Low On Quake Posted: – Japan Apr SA Consumer Confidence Index 33.1 Vs Mar 38.6 – Japan Apr SA Consumer Confidence Posts 3rd M/M Fall In Row – Japan Apr Confidence Index Lowest Since April 2009 – Japan Cuts Repeats View: Consumer Confidence Is Worsening TOKYO (MNI) – Japan’s seasonally adjusted Consumer Confidence Survey index tumbled to a two-year [...]

ECB’s Nowotny: Would be economic nonsense for Greece to leave euro zone – Paper Posted: Greece faces long-term task, problems cannot be solved short-term Greece may receive further loans, but conditions must be very strict Greek banks may have to divest subsidiaries in Eastern Europe as a consequence of debt crisis Other stuff If economy normalises further ECB will act accordingly ECB has made it clear it wants to pursue [...]

JAPAN DATA: Consumer Confidence index from the……. Posted: JAPAN DATA: Consumer Confidence index from the Cabinet Office: – Japan Apr SA Consumer Confidence Index 33.1 Vs Mar 38.6 – Japan Apr SA Consumer Confidence Posts 3rd M/M Fall In Row – Japan Apr Confidence Index Lowest Since April 2009 – Japan Cuts View: Consumer Confidence Is Worsening

European stocks seen opening lower Posted: Bookies see European stocks opening lower; DAX down as much as -0.9%, CAC 40 down as much as -1.2%.

Japan s.a April consumer confidence index 33.1 Posted: Down from 38.6 in March Government says consumer confidence is deteriorating

EUR/USD sees little net change during Asian trade Posted: EUR/USD sits at 1.4088, very marginally easier from a North American close Friday around 1.4100. There are obviously some concerns Strauss-Kahn’s arrest may interfere with the process of funding Greece and Portugal. EUR/USD dipped to just under 1.4050 during Asian trade, but recovered on the back of Asian sovereign buying. Euro zone economic data today: [...]

Moody’s: Possible Japan banks’ ratings downgraded if Tepco loans forgiven Posted: Moody’s says that forgiving the Tepco loans would hurt the creditworthiness of Japan’s banking and utility sectors.

US NABE Text: Sees FFR Near Zero Thru 2011, Hikes In 2012 Posted: WASHINGTON (MNI) – The following text is a summary of highlights from the National Association for Business Economics outlook survey published Monday: * The NABE Outlook panel revised its growth projections for 2011 downward but maintained its forecast for moderate economic growth through 2012. Real gross domestic product (GDP) is expected to advance 2.8 percent [...]

NABE Forecasters See Zero FFR Thru End 2011; Under 2% End ’12 Posted: By Steven K. Beckner NEW YORK (MNI) – Members of the National Association for Business Economics expect the Federal Reserve to leave the federal funds rate near zero throughout the remainder of the year and expect it to still be below 2% at the end of next year, according to May survey results released by [...]

US DATA: NABE May Outlook Survey revises growth ests. Posted: US DATA: NABE May Outlook Survey revises growth ests lower due to a weak Q1, infl ests up due to commodities and Fedl budget worries. Real GDP is expected to grow at a moderate pace of roughly 3% in ’11 and only slightly faster in 2012. CPI is expected to rise 2.8 percent (Q4/Q4) in [...]

ForexLive Asian market wrap: EUR holds up despite Strauss-Kahn arrest Posted: The head of the IMF Dominique Strauss-Kahn was arrested in NY and charged with sexual assault This may interfere with EU-IMF meetings regarding bail-out funding for Greece and Portugal Japan’s machinery orders +2.9% MoM, much better than the expected -9% Japan’s CGPI +2.5% YoY, up from 2.1% last time Moody’s: Asia-Pacific stable corporate ratings to [...]

MNI Survey: Japan Q1 GDP Seen -1.8% Annualized On Quake Posted: – See Separate Tables For Details Of Individual Forecasts TOKYO (MNI) – Japan’s gross domestic product in January-March is expected to have posted a second consecutive quarter-on-quarter contraction, down a real 0.5% on quarter, or an annualized 1.8%, hit by the March 11 earthquake disaster, according to an updated survey of 26 economists conducted by [...]

Hedge funds selling JPY on Moody’s rating Posted: This headline on Reuters saying that Asia Pacific corporate ratings are staying stable with the exception of Japan has encouraged some fresh Yen selling by hedge funds.

EUR/USD: Hanging onto gains Posted: We may be in for a bit more short-covering before this session is over as EUR/USD is hanging around session highs near 1.4095. Resistance should become a bit stiffer near 1.4150 where sell orders are reported but the downtrend has been very steep so far relief rallies could equally be just as steep. If you’re [...]

Japan Quake: Japan Nuke Crisis Worsens Again; To Revise Plan Posted: TOKYO (MNI) – Prime Minister Naoto Kan said on Monday that the government will announce a revised plan aimed at resolving the nation’s worst nuclear crisis at the Fukushima Daiichi nuclear power complex after the operator confirmed the situation at the plant was worse than had earlier been believed. “We may need to make some [...]

EUR/JPY roars back above 114.00 Posted: Looks like the intraday market got a little carried away and is now scrambling to cover earlier shorts. Reports of some very solid bids in the EUR/USD towards 1.4000 will undoubtedly have scared off some of the shorter-term players. Intraday resistance in the cross now towards 114.70, from where there was a bit of a [...]