forexlive ENewsletter

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• UK Analysis: Sharpest Fall In ILO Jobless For 11 Years
• UK DATA: May Claimant Count Unemployment +19,600…..
• Update:ECB’s Liikanen Urges Fiscal Steps For Finland’s Future
• UK May jobless claims +19k
• Greek 5 year credit default swaps rise to record high of 1,651
• ECB Liikanen Urges Fiscal Steps To Prepare Finland For Future
• Well it is now……
• Cable relatively steady early
• Austrian FinMin Fekter: Letting Greece default would pose great danger of contagion
• EUR/USD slides anew as Europe settles in
• ECB Stark: Greece Default Not Most Likely Scenario: Radio
• BOJ: Japan Q3 Industrial Output To Show Clear Gain From Q2
• FRANCE DATA: May HICP +0.1% m/m, +2.2% y/y after Apr.
• ECB’s Stark: We’re not against voluntary participation of private banks in further Greece aid
• French May EU harmonised CPI +0.1% m/m, +2.2% y/y
• Opponents of Greek austerity plan set strike, protests
• Japan Avg Gasoline Price Falls For 7 Weeks But Up 7.2% Y/Y
• Early Swiss names buying EUR/CHF
• Mr Yen: USD/JPY could fall to 75
• ForexLive Asian market wrap: RBA returns to hawkish stance

UK Analysis: Sharpest Fall In ILO Jobless For 11 Years Posted: –May Claimant Count Unemployment +19,600 m/m; Rate 4.6% –Apr Average Weekly Earnings +1.8% vs +2.4% in Mar –Apr Average Weekly Earnings ex bonuses +2% vs +2.1% in Mar –UK Feb-Apr ILO Unemployment -88,000 Q/Q; Rate 7.7% –UK Apr Claimant Count revised to +16,900 m/m from +12,400 LONDON (MNI) – The official measure of unemployment fell [...]

UK DATA: May Claimant Count Unemployment +19,600….. Posted: UK DATA: May Claimant Count Unemployment +19,600 m/m; Rate 4.6% –Apr Average Weekly Earnings +1.8% vs +2.4% in Mar –Apr Average Weekly Earnings ex bonuses +2% vs +2.1% in Mar –UK Feb-Apr ILO Unemployment -88,000 Q/Q; Rate 7.7% –UK Apr Claimant Count revised to +16,900 m/m from +12,400 ———————————————————————— The official measure of unemployment fell [...]

Update:ECB’s Liikanen Urges Fiscal Steps For Finland’s Future Posted: –Adds Latest Forecasts for Inflation and GDP HELSINKI (MNI) – The debt burden from the recession and the ageing population make fiscal consolidation in Finland a “necessity”, the governor of the Finnish central bank, Erkki Liikanen, said in the introduction to the bank’s quarterly bulletin published Wednesday. “General government finances have moved into deficit, and [...]

UK May jobless claims +19k Posted: Worse than median forecast of +7k. Biggest rise since July 2009. Claimant count rate 4.6% in May, as expected. Ilo jobless down 88,000 in 3 months to April, rate 7.7% as expected.

Greek 5 year credit default swaps rise to record high of 1,651 Posted: Up 61 bps on day. I know tomcat will want to know that

ECB Liikanen Urges Fiscal Steps To Prepare Finland For Future Posted: HELSINKI (MNI) – The debt burden from the recession and the ageing population make fiscal consolidation in Finland a “necessity”, the governor of the Finnish central bank, Erkki Liikanen, said in the introduction to the bank’s quarterly bulletin published Wednesday. “General government finances have moved into deficit, and central government debt is increasing rapidly,” said [...]

Well it is now…… Posted: I’d say 15 USD/JPY pips are equivalent to say about 200 EUR/USD pips

Cable relatively steady early Posted: Sits at 1.6360, where it was when I parked my bum about 3 hours ago. Couple of event risks for sterling today: 08:30 GMT: Jobless claims for May expected +6.5K; claimant count rate for May expected 4.6%; Ilo unemployment rate 3M till April expected 7.7% and at 19:45 GMT Sir Merve the Swerve gives his Mansion [...]

Austrian FinMin Fekter: Letting Greece default would pose great danger of contagion Posted: You know, I think she might be onto something.

EUR/USD slides anew as Europe settles in Posted: EUR/USD has slid below 1.4400 as European trade gets underway. Greece is the word. The EU finance ministers meet Tuesday accomplished nothing of any real note and has left the euro susceptible. Buy orders now seen clustered down around 1.4380 and more around 1.4350.

ECB Stark: Greece Default Not Most Likely Scenario: Radio Posted: FRANKFURT (MNI) – A default by Greece is not the most likely outcome of the sovereign crisis facing the country, European Central Bank Executive Board member Juergen Stark said Wednesday. In a German radio interview, Stark played down the significance of Greece for the Eurozone, noting that the Greek contribution to the area’s output was [...]

BOJ: Japan Q3 Industrial Output To Show Clear Gain From Q2 Posted: TOKYO (MNI) – The Bank of Japan said in its monthly economic report for June on Wednesday that industrial production in the July-September quarter is expected to show a clear gain from April-June as supply-side constraints are easing. On Tuesday, the BOJ provided a slightly brighter outlook for output after a two-day policy board meeting, [...]

FRANCE DATA: May HICP +0.1% m/m, +2.2% y/y after Apr. Posted: FRANCE DATA: May HICP +0.1% m/m, +2.2% y/y after Apr +0.4% m/m/+2.2% y/y - Annual HICP matches median forecast in MNI analysts survey - nsa CPI: +0.1% m/m, +2.0% y/y after April +0.3% m/m, +2.1% y/y - sa core: +0.1 m/m, +1.2% y/y after April +0.3% m/m, +1.1% y/y – For more information, please see [...]

ECB’s Stark: We’re not against voluntary participation of private banks in further Greece aid Posted: Risks with Greek bonds are manageable No danger that euro hit by debt crisis in periphery states Greece must do what it needs to do to reduce its debt load Greece must come back to financial markets eventually EUR/USD sits at 1.4425, very marginally easier compared to North America close Tuesday up around 1.4445.

French May EU harmonised CPI +0.1% m/m, +2.2% y/y Posted: In line with median expectations.

Opponents of Greek austerity plan set strike, protests Posted: It doesn’t get any better

Japan Avg Gasoline Price Falls For 7 Weeks But Up 7.2% Y/Y Posted: TOKYO (MNI) – The average price of regular gasoline in Japan this week slipped to Y147.4 ($1.83) per liter, or $6.95 per gallon, from Y147.6 last week, posting the seventh straight weekly drop, but was still much higher than a year ago, data released by the Oil Information Center showed on Wednesday. On April 25, [...]

Early Swiss names buying EUR/CHF Posted: EUR/CHF has jumped up to 1.2240 as some of the bigger Swiss banks step up the buying

Mr Yen: USD/JPY could fall to 75 Posted: Bloomberg reports

ForexLive Asian market wrap: RBA returns to hawkish stance Posted: RBA Governor: Further tightening needed at some point New Greek plan could cost extra EUR20 billion- FT Moody’s places three French banks on review UK consumer confidence jumps in May Australian consumer confidence falls over 2.5% Australian Q1 dwelling unit starts +3.1% New Zealand retail sales stronger than expected at +3.4% YoY China Jan-May FDI [...]