Norwegian crown has not enough liquidity to be a safe haven for investors



Link to ForexLive

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Because Merkel govt has failed to act decisively in crisis. He’s the opposition, what’ya expect him to say. Leave Angela alone!!, poor woman.
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Euro’s slipped back to 1.4088 since then, and offers have now also been reloaded at 1.4120
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Didn’t Jamie say that yesterday. Guess the central bank chief reads ForexLive.  Tomorrows conventional wisdom today.  Well sort of. Hopes to avoid situation like Switzerland’s, can’t compare Norway to Switzerland  Crown is clearly stronger than the bank has based its views on Central bank is not aiming for particular crown level Strong crown will affect [...]
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We’ve been up to to 0.8828 earlier on the German court announcement, but the move has just unearthed some model account sales on the rebound from the ensuing dip to  0.8800 seen shortly afterwards. EUR/GBP is around 0.8803
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Euro zone has broken rules for too long Existence of new, unofficial group within EU risking fairness, democracy EU must avoid forcing through decisions that create severe conflicts
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FRANKFURT (MNI) – Germany’s highest court Wednesday found in favour of the German government on the matter of whether the country’s participation in the two rescue packages for Greece breached certain provisions in the constitution. However, the court followed up its decision by imposing a number of restrictions on the government, thereby boosting the ability [...]
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AUD/USD jumped to 1.0634 following the German  constitutional court announcement, but quickly slipped back with the EUR/USD, after heading into the 55 and 50 day moving averages at 1.0626 and 1.0635 Some sellers now emerging above 1.0620/25 with a break through the above MA’s  leading to the 100 day at 1.0650. Also hearing  a few option expiries today [...]
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–Jul manufacturing output +0.1% m/m; +1.9% y/y –Jul industrial production -0.2% m/m; -0.7% y/y LONDON (MNI) – Manufacturing output grew only slightly in July, following a fall in the previous month, adding to a slew of evidence that casts doubt on the sustainability of the UK economic recovery. Figures from National Statistics released Wednesday showed [...]
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UK DATA: Jul manufacturing output +0.1% m/m; +1.9% y/y –Jul industrial production -0.2% m/m; -0.7% y/y ———————————————————————— Manufacturing output grew only slightly in July, following a fall in the previous month, adding to a slew of evidence that casts doubt on the sustainability of the UK economic recovery. Figures from National Statistics showed that manufacturing [...]
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Weaker than median forecasts unchanged, -0.4% respectively. Manufacturing output +0.1% m/m, +1.9% y/y, pretty much in line with median forecasts of flat, +1.9% respectively.
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In recent trade. Said to be not large size. We’re at 1.4082.
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As expected. Ruling on bailouts was “very tight” Parliament must have say in decisions that lead to burdens for German budget Govt must get approval of parliamentary budget committee before granting any aid Relief spike higher to 1.4148 on confirmation lawsuits rejected and straight back down again.  Net net, pretty much no change.  EUR/USD sits at [...]
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Been seen buying down around 1.4050 and selling up above 1.4080.  Nice work if you can get it. We’re presently at 1.4070, awaiting the German court decision.
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Presently at 1.4065 from session high 1.4087. Anyone would have thought there was talk of sell orders clustered up at 1.4090/00 Worked once, wouldn’t overly rely on it working a second time.
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–August House Prices Down 1.2% m/m; Fall 2.6% 3m y/y LONDON (MNI) – UK house prices fell in August, dropping 1.2% on the month to stand down 2.6% on the year, according to the Halifax house price survey. Although the monthly fall was the first since April – a month in which a glut of [...]
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Off you go then……
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G7 to discuss Europe sovereign problems BOJ has acted against various risks with August easing Global economic uncertainties heightening somewhat Europe’s debt woes unlikely to have big direct impact on Japan banks No truth to view that BOJ has not eased enough in terms of volume of money it supplies Overseas uncertainty, fx moves may [...]
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Down -2.6% in 3 months to August versus year ago. Cable trading touch lower since I got in, down at 1.5975 from around 1.5990 when I sat down.  Cable below 1.6000, enough to make an old cable bear’s heart sing!!! Not quite sure where we go from here though, tricky one.
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Risk on so far this morning, European stocks set to open nicely firmer, NYM light crude up a buck. EUR/USD has tacked on 20/25 pips since I sat down. Talk of sell orders clustered now 1.4090/00. Guess buy stops will be close above there, although I don’t have specific level/s as yet.
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We’ll find out real soon. Decision due 08:00 GMT. Think Antonia got her days a bit muddled.

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