Markets watch as Fed opens meeting




Link to ForexLive

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We want to connect EFSF vote with confidence vote Akin to herding cats……….
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Seen in the mid 1.5670′s just now . Cable’s up around 1.5688
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Down from -37.6 in August, but not quite so bad as  Reuters’ median forecast of -45.0. Current conditions index down at 43.6 from 53.5 in August, but slightly better than Reuters’ median poll of 40.0. ZEW says: European debt crisis may have caused economic expectations to weaken (yer think?) Downward trend is losing momentum this month [...]
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Some decent selling interest appeared above 0.8715 (high 0.8717) earlier coinciding with the EUR/USD high of 1.3699. (The gap left over the weekend/monday morning open was filled yesterday). Cable slipping back after running into offers at 1.5720/21 and heading for initial support around 1.5670 and then 1.5650/55.  EUR/USD’s lower on the back of some broad based [...]
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LONDON (MNI) – Gross mortgage lending was stg13.4 billion in August, up 6% from the stg12.6bn seen in July and 10% higher than in August 2010, according to Council of Mortgage Lenders data. This is the highest monthly total since July 2009 (stg14 billion) and the highest monthly total for August since 2008 (stg19.3 billion), [...]
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Sold 3.587 bn euros of 12 month T bills vs 4.15 bn at previous auction,  cover 2.78, yield 3.591% vs 2.14 and 3.335%, sold 870 mln euros of 18 month vs 1.54 bn previously, cover 2.74, yield 3.807% vs 3.23 and 3.592%
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The Washington Post. I kinda like Washington DC.  I only spent a couple of days there, but it was sunny and the bits I saw were very clean.  And we found a great Irish bar in Georgetown
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….1.3699 to be precise, before peeling back  to 1.3665/70 as corporate offers  halted the rally. Talk on the streets that the Greek’s have made their coupon payments, appears to be  adding to the bullish tone. Hearing also of offers up ahead at 1.3720/30 with stops poised on a break, which could then extend the move up to [...]
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Some casualties. Apparently bomb was in vehicle. UPDATE:  At least two people killed.
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Been told there are stops at 1.0270, but AUD/USD picking up some headwinds on the way up to recent highs of 1.0263. If we can trigger those stops , there’s more at 1.0310 which could then accelerate and fill the gap at the start of the week between 1.0315 and 1.0360….. On the downside there [...]
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We’re up at 1.0243 in AUD/USD from around 1.0200 when I arrived. Now talk of sell orders clustered 1.0250/60, with buy stops gathering through 1.0270.
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TOKYO (MNI) – The average national price of land for all purposes measured on July 1 fell 3.4%, posting the 20th straight annual drop following -3.7% last year, the Ministry of Land, Infrastructure, Transport and Tourism said on Tuesday. The ministry estimates the average land price by surveying 21,515 locations in Japan every year. Land [...]
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FRANKFURT (MNI) – The German federal government called for bids Tuesday on its E5 billion top-up of the 2.25%-coupon September 2021, 10-year bund, the Bundesbank announced. Bids for the top-up are due by 9:00 GMT Wednesday, September 21, with results of the allocation to be announced shortly thereafter. The top-up tranche will settle on Friday, [...]
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Good, just how we like it.  Keep schtum!!!
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News has helped us to 1.3660 at writing. Elsewhere, cable back over 1.5700, presently at 1.5705.  Major Swiss bank (you know the one) has been a notable buyer of the pairing this morning. European stocks improving,  the sun’s just come out, all’s right with the world!! Yer right…….
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Not really.  EUR/USD has roared (I use the term very loosely) to 1.3645.  Getting reports of real money and macro fund short-covering going through in the pairing, as well as the aforementioned middle east interest.
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Sits at 1.3628 from around 1.3610 when I arrived. Some sovereign buying out of the Middle East has been noted. Euro zone data left for release this morning: 08:00 GMT: Italian industrial orders for July expected -1.5% m/m, +8.3% y/y, also sales (no forecasts) 09:00 GMT: German ZEW survey for September: economic sentiment expected -45 from [...]
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Italy has already implemented measures to balance budget, will shortly approve measures to spur growth S&P move appears to be influenced by political considerations
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PARIS (MNI) – The recent shift in the European Central Bank’s economic outlook is “significant,” ECB President Jean-Claude Trichet said in an interview with a Spanish newspaper published Tuesday. The central bank’s new view that risks to economic growth in the Eurozone are now on the downside and that inflation risks are broadly balanced “represents [...]
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Oh goody!!!  Another conference call,  what a jolly jape. Glad I’ll be bloody looooooooong gone…..

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