EUR/USD rebounds after triggering stops



Link to ForexLive

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Moody’s places Belgium’s AA1 rating on review for a possible downgrade. EUR/USD now at 1.3380. That’s it, I’m done. Happy Thanksgiving, to all those in the great white north!
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US non-farm payrolls rise 103,000; unemployment rate holds steady at 9.1% : July and August revisions add 99,000 jobs Canadian employment rises 60,900; unemployment rate falls to 7.1% from 7.3%; much better than expected Irish PM Kenny: Aims to be first country out of IMF protection French official: No disagreement with Berlin on banks IMF’s [...]
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8 point bounce followed by 15 point slide…oy vay… EUR/USD off rebound highs of 1.3423, now at 1.3385.
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As of the close of business Tuesday, the market was still net short in a big way. I suspect the big rally Wednesday and Thursday, culminating with the jump to 1.3525 this morning changed the picture quite dramatically, though we won’t know until the next release of COT data next week. Speculators on the IMM [...]
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Nice 8 point bounce in the S&P in the last 30 minutes. EUR/USD is scrambling to cover the shorts taken on the Spanish and Italian downgrades… Oy vey…
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From 1.3359, we’ve rebounded above 1.3400 after taking out stops below the 1.3380 level. The news that the US consumer cut up his Visa card in August has not hurt risk appetites. If anything, equities have rallied since the data was released. Maybe the thinking goes that if the consumer can curb his deficit spending, [...]
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US DATA: Tsy investor allotments appear to be delayed.
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US DATA: Aug consumer credit -$9.5b as revolving -$2.2b and nonrevolving -$7.3b. NSA federal govt credit (incl SallieMae) +$6.1b.
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Talk about deleveraging, ouch! The market expected a rise of $8 bln.
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EUR/USD making fresh session lows of 1.3360. Next support is at 1.3350, the 61.8% retracement of the 1.3240/1.3525 rally.
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Time’s a wastin. Please give generously to this cause. Please hit this link.
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Japan’s economy minister, Furukawa, says it is important for France and Germany to lead through the crisis.  Sustaining Japanese and U.S. growth is crucial to stabilizing global growth.  From Reuters News.
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By Sheila Mullan NEW YORK (MNI) – RBC Capital Markets named Brian Varga as managing director and head of U.S. government bond trading in New York. He will report to Peter Hirsch, head of U.S. dollar rates and mortgage trading, and will be responsible for managing RBC’s U.S. Government trading desk (which covers all U.S. [...]
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Sees risk of global recession Calls for global monetary standard
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By Joe Plocek and Alyce Andres WASHINGTON (MNI) – Market volatility is likely to continue in the week ahead as the markets remain beholden to headline risk, mainly from Europe. Initial thoughts are that any longs that were established ahead of the long holiday weekend will be unwound if the Treasury market starts the week [...]
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WASHINGTON (MNI) – The following is a summary of the U.S. Congressional Budget Office’s September Budget Review published Friday with it’s estimate for last month’s deficit. The U.S. Treasury Department is scheduled to release its monthly statement October 13: CBO estimates that the federal budget deficit was about $1.30 trillion in fiscal year 2011, approximately [...]
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Ugghh. Details here from the FT.
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–Key Congressional Panel Shifts From Public Hearings To Private Talks –Regular Hill Panels Charged To Submit Deficit Cutting Ideas By Oct 14 –Super Committee Members Say They Need Deal By Early November By John Shaw WASHINGTON (MNI) – While it remains unclear if Congress’s Joint Select Committee on Deficit Reduction will “Go Big” and “Go [...]
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Industrial Production Trade Balance – September – – August - %mom %yoy E Bln (sa) Median Forecast -0.7 2.1 -1.5 High forecast 0.3 2.9 0.8 Low forecast -1.1 1.8 -2.7 Previous period 1.0 4.2 -2.5 Number of responses 16 5 5 – Barclays Cap. -0.1 N/A 0.8 BNP Paribas -0.7 2.2 N/A Capital Economics -0.5 [...]
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Exports Imports Trade Balance – August – – August – – August - %mom %mom E Bln (sa) E Bln (nsa) Median Forecast 1.0 -0.4 10.0 8.8 High forecast 2.0 0.0 12.0 9.0 Low forecast 0.5 -0.8 9.5 8.5 Previous period -1.8 -0.3 10.1 10.4 Number of responses – Barclays Cap. N/A N/A 9.9 N/A [...]

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