forex mail from forexlive

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• BIS been buying EUR/USD
• UK Analysis: April Construction Output Falls Sharply
• German Bundestag votes in favour of new Greek aid
• UK DATA: Year-Ahead Inflation Expectations Ease To 3.9% – BOE
• UK Analysis: May Input Prices Fall Sharply On Lower Crude Oil
• UK producer output prices +0.2% m/m, +5.3% y/y
• UK Analysis: Apr Manufacturing Plunges Due Bank Hol, Tsunami
• BOE: Inflation Expectations Nudge Higher In May
• UK DATA: Apr manufacturing output -1.5% m/m; +1.3%…
• UK April industrial production -1.7% m/m, -1.2% y/y
• UK DATA: Looking ahead, the MNI survey shows median..
• Update:ECB Constancio:To Do The Necessary For Price Stability
• Rumour rumour
• EU’s Rehn:Europe At Crossroads–Cooperation Or Disintegration
• ITALY DATA: 1Q final GDP rose 0.1% q/q and 1.0% y/y,.
• ECB’s Constancio: To Do Whatever Needed For Price Stability
• Was that it?
• ECB’s Constancio: We will do whatever is necessary to deliver price stability, using policy interest rates
• Lets have a vote
• JAPAN DATA: Capital investment by small is expected..

BIS been buying EUR/USD Posted: In recent trade. Don’t have exact levels. Which reminds me, haven’t they done well. Remember only yesterday they were selling above 1.4640 and more at 1.4605/10. And here they are buying at least below 1.4480. They, or some of their clients, are real clever trevors.

UK Analysis: April Construction Output Falls Sharply Posted: –April Construction Output -13.6% m/m; -1.3% y/y LONDON (MNI) – Construction output fell sharply on a non-seasonally adjusted basis in April although it turned positive on a trend basis for the first time since November 2010, according to figures released by National Statistics Friday. Construction output fell 13.6% on the month in April and was [...]

German Bundestag votes in favour of new Greek aid Posted: EUR/USD tacks on quick 30 or so pips on the news.

UK DATA: Year-Ahead Inflation Expectations Ease To 3.9% – BOE Posted: –BOE: May Median Year Ahead Inflation Expectations 3.9% Vs 4.0% Feb –BOE/GFK: Public See Current Inflation at 4.5% Vs 4.4% in Nov –BOE/GFK: May Longer Term Inflation Expectations 3.3% vs 3.5% in Feb LONDON (MNI) – The public’s inflation expectations eased a touch despite high headline inflation, the latest Bank of England/GfK NOP survey found. [...]

UK Analysis: May Input Prices Fall Sharply On Lower Crude Oil Posted: –UK May Producer Output Prices +0.2% m/m; +5.3% y/y –UK May Core Output Prices 0.2% m/m; +3.4% y/y –UK May Producer Input Prices -2% m/m; +15.7% y/y LONDON (MNI) – UK input prices declined at their fastest rate for two years in May as the price of crude oil fell sharply, data released by National [...]

UK producer output prices +0.2% m/m, +5.3% y/y Posted: Pretty much as expected, median forecasts +0.3%,+5.3% respectively Input prices -2.0% m/m, +15.7% y/y, weaker than median forecasts of -1.0%, +16.0% respectively. Bank of England UK May inflation expectations for year ahead +3.9% y/y versus +4.0% y/y in February, first fall since February 2009. UPDATE: Whoops, sorry got wrong y/y number. Corrected now.

UK Analysis: Apr Manufacturing Plunges Due Bank Hol, Tsunami Posted: –Apr manufacturing output -1.5% m/m; +1.3% y/y –Apr industrial production -1.7% m/m; -1.2% y/y LONDON (MNI) – Manufacturing output plunged at its fastest rate for more than two years in April as production was hit due to the extra bank holiday and the impact of the Japanese Tsunami, according to figures released by National Statistics [...]

BOE: Inflation Expectations Nudge Higher In May Posted: –BOE Survey Shows Yr Ahead Inflation Expectations 2.4% Vs 2.1% In Feb –Public Estimates Of Current Inflation Fall To 4.0% Vs 4.2% In Feb –Net 17% Satisfied With The Way BOE Doing Its Job LONDON (MNI) – Inflation expectations have risen, climbing further above the inflation target, according to the latest survey by the Bank [...]

UK DATA: Apr manufacturing output -1.5% m/m; +1.3%… Posted: UK DATA: Apr manufacturing output -1.5% m/m; +1.3% y/y –Apr industrial production -1.7% m/m; -1.2% y/y ———————————————————————— Manufacturing output plunged at its fastest rate for more than two years in April as production was hit due to the extra bank holiday and impact of the Japanese Tsunami, according to figures released by National Statistics Friday.

UK April industrial production -1.7% m/m, -1.2% y/y Posted: Way worse than median forecast of +0.1% m/m, but nowhere near as bad as the -4.5% being touted. Cable having dipped initially on the release to session low 1.6220 is quickly back up at 1.6260. Classic sell the rumour, buy the fact price action. Still doesn’t make pleasant reading. The m/m fall is the biggest [...]

UK DATA: Looking ahead, the MNI survey shows median.. Posted: UK DATA: Looking ahead, the MNI survey shows median expectations for UK April industrial output at -0.2% on month, up 1.3% on year, April manufacturing output is seen down 0.4% on month, up 3.1% on year. April data likely to be skewed/erratic after the back to back bank holiday weekends in April.

Update:ECB Constancio:To Do The Necessary For Price Stability Posted: –Adds Proposals To Strengthen Governance, Bank Capital FRANKFURT (MNI) – The European Central Bank will do whatever is necessary with its policy interest rates in order to deliver price stability, while continuing to contribute to financial stability with its emergency liquidity measures, ECB Vice President Vitor Constancio said Friday. In the text of a speech [...]

Rumour rumour Posted: There is a rumuor going round that UK industial production is going to be real bad. Talk of -4.5% m/m. The expectation is for flat so that is disasterous. Take it for what you will. UPDATE: Just being told that’s the call being made by a UK clearer, so not really a rumour. Cable getting mashed.

EU’s Rehn:Europe At Crossroads–Cooperation Or Disintegration Posted: BRUSSELS (MNI) – Amid serious financial turmoil, facing severe challenges to its cohesion and economic future, Europe must pull together politically or risk implosion, EU Economic and Monetary Affairs Commissioner Olli Rehn warned Friday. “Either we can give in to the populist sirens and to the reform fatigue, and risk losing all we have achieved [...]

ITALY DATA: 1Q final GDP rose 0.1% q/q and 1.0% y/y,. Posted: ITALY DATA: 1Q final GDP rose 0.1% q/q and 1.0% y/y, after gaining 0.1% q/q in the 4Q 2010, as exports and domestic demand grew. The q/q data was confirmed from preliminary figures released on May 13. –Net exports contributed 0.2 points to q/q growth, while private and government consumption each contributed 0.1 points. Inventory [...]

ECB’s Constancio: To Do Whatever Needed For Price Stability Posted: FRANKFURT (MNI) – The European Central Bank will do whatever is necessary with its policy interest rates in order to deliver price stability, while continuing to contribute to financial stability with its emergency liquidity measures, ECB Vice President Vitor Constancio said Friday. In the text of a speech for delivery at the ECB Watchers’ conference [...]

Was that it? Posted: Stops tripped through 1.4450 and we get all the way to………..1.4442 (only 1.4445 if you take EBS) Pleeeeeeeeeeez tell me that ain’t it. We’re back at 1.4455. UPDATE: Central bank buyer emerges below 1.4450. (Sorry that should be singular) I WANT THEM DESTROYED, BLOWN OUT OF THE WATER. EXTERMINATE EXTERMINATE EXTERMINATE

ECB’s Constancio: We will do whatever is necessary to deliver price stability, using policy interest rates Posted: I am Ronnie and I am a Robot…… Favour more centralised framework for bank resolution in euro zone Establishment of private funded euro zone resolution fund should be considered Resolution fund should not be used for any form of bailout

Lets have a vote Posted: Who thinks 1.4450 will be breached before I finish for the day. UPDATE: Oh don’t bother. I’m not sure what came over me. Bloody silly idea. And its not the same at 55 as it was at 75

JAPAN DATA: Capital investment by small is expected.. Posted: JAPAN DATA: Capital investment by small manufacturers is expected to fall 4.1% on year in fiscal 2011 following +21.2% in fiscal 2010, data released by the government’s Japan Finance Corporation show. Small businesses tend to revise up their investment plans later in the year. About a year ago, combined capex by small manufacturers was expected [...]