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ECB’s Mersch: Eurozone Inflation Risks On The Rise – Press

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BERLIN (MNI) - Inflation risks in the Eurozone are on the rise, ECB Governing Council member Yves Mersch said in a newspaper interview released Friday, arguing that the economy would be able to absorb policy tightening by the ECB. "There ...

ForexLive US wrap: Euro steals limelight from JPY

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Libyan foreign minster offers cease fire Moodys downgrades certain Portuguese government-related issuers Fed publishes stress tests of 19 largest banks; Capital grows $300 bln between end of 2009 and 2010 Trichet: No new message on inflation, policy; Still strongly vigilant. Obama: Libya must comply or face military action US 10-year note rises 1.6 bp to ...

White Hse Budgt Chief: Ignoring Deficit Will Harm Future Grwth

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WASHINGTON (MNI) - The following is a statement by Office of Management and Budget Director Jack Lew in response to the preliminary analysis of the President's FY'12 Budget by the Congressional Budget Office (On MNI Main Wire At 13:49 EDT) released Friday: ...

EUR/USD holding 1.4150 support on dips

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Guys who got lifted as EUR/USD accelerated through 1.4150 and onto 1.4184 after Trichet reiterated his intention to raise rates next month are now on the bid, trying to get back their shorts. Most of those guys are of the algorithmic variety as real men are watching the NCAA basketball ...

DXY short squeeze at the close?

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The dollar index broke to a new low for the move, falling through the November low at 75.63 and extending to 75.577. Trouble is, it looks as though we are going to close back above those old lows. False breakout? Could be... It is enough to cause those with the weakest stomachs ...

BOJ accomplishes one goal, one left unmet

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No bout the BOJ wanted to engineer a close above the old all-time lows at 79.75 as well as above the psychologically important 80.00 level. But it looks as though though they failed at one important goal, pushing USD/JPY back above the old line of support which comes in around ...

Obama: Gaddafi must comply or international community will act

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Action driven by concern over potential atrocities Has a choice: Must implement cease-fire, including attacks on civilians or face military action US will not deploy ground troops US use of force will be well-defined Chief goal is to protect civilians

ECB Trichet:Euro Is Solid Currency;Problems In Some Countries

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FRANKFURT (MNI) - The euro is "of course" solid as a currency, European Central Bank President Jean-Claude Trichet said Friday, but acknowledged that "a number of difficulties" exist in "a number of countries." Trichet rejected the notion that there is ...

US CBO Text: 2012 Deficit Dwn To $1.2T Under Admin FY’12 Budgt

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WASHINGTON (MNI) - The following is the text is the summary of the U.S. Congressional Budget Office's analysis released Friday of the President's FY2012 Budget released: This report by the Congressional Budget Office (CBO) presents a preliminary analysis of the ...

Trichet: Trust Weakening Of Stability Pact Won’t Happen Again

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FRANKFURT (MNI) - European Central Bank President Jean-Claude Trichet called again for European Union countries not to weaken the Stability and Growth Pact as they had in the previous decade. In a speech here, Trichet also repeated his plea for ...

Trichet: ECB To Think Deeply About Japan Impact In Days Ahead

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FRANKFURT (MNI) - The European Central Bank will discuss and think "deeply" about the economic impact of the earthquake and tsunami in Japan, ECB President Jean-Claude Trichet said Friday. "The potential impact of the earthquake and its aftermath to both ...

Trichet: Situation was very grave before bond buying program

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All non-standard measures transitory in nature Took action to ensure monetary policy transmission euro is a solid currency More reason now to reinforce economic and monetary union A number of difficulties in a number of countries

USD/JPY lossing altitude; watch 80.80

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There was talk of a large Tokyo bid at 80.80 earlier. A break may prompt more stop-loss selling as the dollar slides across the board as the DXY trades through the November low.

Capitulation underway

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EUR shorts are being dragged out and shot as the weekend approaches. Higher German yields, a still hawkish ECB and a central bank-led rebound in EUR/JPY have all conspired to send EUR/USD to its highest levels since early November. The buying at this stage is "gotta buy" rather than "wanna buy". ...

Makeshift bomb explodes in Athens

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No injuries, damage minor, Bloomberg reports.

ECB Update: ECB Joins Forex Intervention, Uncertainty Rising

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FRANKFURT (MNI) - The European Central Bank confirmed that it participated Friday in concerted G7 foreign exchange intervention to halt the appreciation of the yen, which has risen sharply in the wake of the disastrous earthquake, tsunami and nuclear crisis that have hit Japan. ...

I’m gonna go out on a limb here…

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We stopped at 1.4174, so I guess there is a 1.4175 barrier. That probably means they are scattered every 25 pips up to 1.4300 since we stalled just below that level back in the first week of November.

Canada’s Flaherty: JPY was disorderly; challenging recovery

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Scope of concerted intervention up to participants to decide G7 discussed Japan nuclear situation; all prepared to help No big spending programs, reductions in upcoming budget

French Foreign Minsiter: Everything set for strikes on Libya

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EUR/USD is extending gains as the French apparently are not impressed by the Libyan offer of a cease-fire. Also crossing the wires are comments from Bahrain's foreign minister that Gulf Cooperation Council troops will not be used to restore order but only to protect strategic assets. EUR/USD is at session highs, now ...

ECB Trichet On Strong Vigilance: Have ‘No New Message At All’

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FRANKFURT (MNI) - European Central Bank President Jean-Claude Trichet Friday said he had nothing new to say on the ECB's monetary policy stance. Asked by reporters as he arrived at a speaking engagement whether he had anything to say with ...

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