European banks knocking on Buffett’s door-ZH


European banks knocking on Buffett’s door-ZH Link to ForexLive
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Share losses accelerate during US afternoon despite upbeat US economic data US personal income falls 0.1%, spending rises 0.2%; core PCE 1.6% y/y Chicago PMI jumps to 60.4 from 56.5; exp 55.5 University of Michigan consumer sentiment index 59.4 versus exp 57.8 Austria approves EFSF expansion USD share of global reserves falls to 60.2% in [...]
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We’ve probed below this level twice this week but have not been able to close below the 50% retracement of the 1.18/1.49 range in place over the last two years…
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Net dollar longs on the CME are the largest since June 2010…
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But he’s pretending he’s not home...Good move, Warren. Anything that bring’s Europe’s sovereign/banking crisis back into the spotlight tends to send EUR/USD plunging. 1.3405 the low so far in thin-month-end trade.
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Iconic camera and film manufacturer Kodak may seek bankruptcy protection, Bloomberg reports.
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You guys have donated $1800 to the BuddyWalk in the last 24-hours and a total of $2600. We’re almost half way to last-years total and 1/4 of the way to the goal of $10,000. No donation is too small. This month there are 130,000 of you out there reading the site. Just a dollar is [...]
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We tested the 1.3414 level posted at the 15:00 GMT fixing and so far we’re holding. Risk-aversion is on the rise once again with the CRB down over 2.5% and the S&P is down 1.7%.
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The deficit was 9.8% rather than the previously reported 9.1% after including Madeira’s hidden debt, according to Bloomberg. The government is aiming for a deficit of 5.9% this year… EUR/USD continues to slide after holding the 1.3560 area. 1.3514 was the earlier low.
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Here, from the NY Fed…
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Also on the wires, Spanish PM Zapatero says Spain’s credibility in the markets is a top priority for Spain. Stocks are taking a turn for the worse late in the day, with the S&P down 1.4%. EUR/USD is following, now at 1.3438 after stalling repeatedly around 1..3460.
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I thought Merkel was hosting? Can’t keep my euro zone meetings straight… Also crossing the wires is a headline that Portugal’s Madeira region has debt of 6.3 bln euros. No perspective is offered, so I can’t say whether this is a surprise or not. Given that it is released late on a Friday afternoon, it [...]
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-Adds Fuller Quotes From French President PARIS (MNI) – France’s President Nicolas Sarkozy Friday reaffirmed his support for Greece late Friday, casting it as both a moral and an economic obligation to save the debt-choked country. Speaking outside the presidential palace here after an hour-long meeting with Greece’s Prime Minister George Papandreou, Sarkozy also said [...]
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EZ EZ EZ EZ EZ IT IT PPI PPI Retail Retail Rate PMI PMI Sales Sales Decision Mfg Svcs % % % % bps m/m y/y m/m y/y sa Median Forecast -0.2 5.9 -0.3 -0.7 1.5 46.3 47.0 High forecast 0.1 6.3 0.3 -0.6 1.5 46.9 47.8 Low forecast -0.3 5.7 -0.8 -1.2 1.0 45.9 [...]
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DE DE DE DE Factory Factory Industrial Industrial Orders Orders Production Production % % % % m/m y/y m/m y/y sa wda sa wda Median Forecast -0.2 4.2 -2.0 6.8 High forecast 1.0 5.0 -0.9 7.6 Low forecast -2.0 3.0 -3.5 5.7 Previous period -2.8 8.7 4 10.1 Number of responses 15 6 15 7 [...]
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Rumors are circulating in the twittersphere that the haircut on Greek bonds will move from 21% to 75%. Not sure European banks are ready for that…Better get those capital backstops in place.
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–Key Senator Sees ‘At Least’ 60 Senate Votes For China FX Legislation –FX Bill Will ‘Send a Message To China’ –’Optimistic’ China FX Bill Will Get To Obama’s Desk By John Shaw WASHINGTON (MNI) – Sen. Chuck Schumer, the third ranking Senate Democrat, said Friday the Senate will take up currency legislation next week and [...]
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Cable trades close to session highs of 1.5663 set just a short while ago, consolidating gains after a swift turnaround from 1.5535 lows set shortly after US stock markets opened. EU subsidy payments to UK farmers are the outstanding flow of the day and could be painting a rosier picture than the pound deserves. Markets [...]
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FRANKFURT (MNI) – Friday’s unexpected jump in September Eurozone consumer inflation has probably ended any expectation that the European Central Bank will cut interest rates at its October 6 meeting. However, the central bank might still loosen its policy by the end of the year. While Friday’s HICP flash reading of 3.0% will not make [...]
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FRANKFURT (MNI) – Friday’s unexpected jump in September Eurozone consumer inflation has probably ended any expectation that the European Central Bank will cut interest rates at its October 6 meeting. However, the central bank might still loosen its policy by the end of the year. While Friday’s HICP flash reading of 3.0% will not make [...]
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USD/JPY reached 77.20, a level where Japanese exporter offers were touted and just a pip and a half above the 61.8% retracement of the slide from 77.85 to 76.10. Looks like a good level to trim some longs if you are lucky enough to have them… Small stops are seen in the 76.90/95 area from [...]
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