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- US Data Preview: Low Growth For Housg Starts Keeps Sector Weak
- ECB Stark: We Communicated A Gradual Increase In Rates
- ForexLive US wrap: Restructuring fears intensify
- I’m gonna wind it up early
- Analysis: Strong GDP A Balm For ECB Hawks; But Will It Last?
- Aussie screwing long and short alike
- Ve haf no knowledge of Greek restructuring plan: Germany
- ECB’s Stark: ECB didn’t signal rate increase rhythm
- Update: Stark: Restructuring No Solution To EMU Debt Crisis
- Eurogroup head Juncker: Clear Greece cannot return to markets in 2012
- ECB’s Stark:Debt Restructuring No Solution To EMU Debt Crisis
- That may be all…
- More from Stark: No restructuring
- US Tsy’s Geithner: Social Security to Exhaust Assets 2036
- ECB’s Stark: Crisis? What crisis?
- Die Welt: Europe split over Greek debt extension
- CNBC blaming some of the risk aversion on this…
- AUD on important support
- Gold perilously close to uptrend support
- If there was a 1.4100 barrier, it’s gone now
| US Data Preview: Low Growth For Housg Starts Keeps Sector Weak Posted: By Joshua Newell WASHINGTON (MNI) April Housing starts in the U.S. are expected to increase only slightly, illustrating that even as other sectors of the economy are growing, the housing sector remains stagnant. Retail sales, manufacturing, and payrolls have all shown modest, consistent gains recently implying an improving economy. The housing market, however, continues to [...]    |
| ECB Stark: We Communicated A Gradual Increase In Rates Posted: AACHEN, Germany (MNI) – The European Central Bank has signaled to markets that it will raise interest rates gradually over time, not in any pre-specified increments, ECB Executive Board member Juergen Stark said Friday night. “We raised interest rates in April. We did not signal that we would do this in monthly steps, in bi-monthly [...]  |
| ForexLive US wrap: Restructuring fears intensify Posted: Die Welt: ECB, France oppose Greek debt extension; EU/IMF/Germany favor debt extension; Germany also favors voluntary debt restructuring Germany denies knowledge of any restructuring plan ECB’s Stark: Restructuring would be a catastrophe; ECB signaled gradual rate rise Eurogroup’s Juncker: Clear Greece cannot return to markets in 2012 US CPI rises 0.4 in April, core up [...]  |
| Posted: My back-end remains under repair so I’m gonna wrap things up early and hand off to the techs. Best to all for a happy weekend  |
| Analysis: Strong GDP A Balm For ECB Hawks; But Will It Last? Posted: PARIS (MNI) – To say the least, Friday’s stunningly 1Q GDP data from the Eurozone’s two largest economies are hardly going to deter the European Central Bank from raising interest rates again, probably no later than July and now possibly even next month. Yet on second glance, the news isn’t quite as good as it [...]  |
| Aussie screwing long and short alike Posted: A quick washout to the 1.0520 level followed by a rebound back to the 1.0590 level. Long and stopped on a break of 1.0530? Check. Short and stopped above 1.0570? Double check…  |
| Ve haf no knowledge of Greek restructuring plan: Germany Posted: Details vil be learnt at our Friday secret meeting in Luxembourg! Government spokesman Steegmans says in Bloomberg interview (except that last bit…I made that up!)  |
| ECB’s Stark: ECB didn’t signal rate increase rhythm Posted: ECB signaled gradual increase in interest rates Rates are very low No hurry to hike rates? We’ll see. Coming from the German on the ECB board, the comments are quite telling.  |
| Update: Stark: Restructuring No Solution To EMU Debt Crisis Posted: –Adds Comments On New EU Governance Rules, Divergence Among Economies AACHEN, Germany (MNI) – The Eurozone economy is on the road to recovery, yet the Monetary Union is in the midst of a severe crisis, because governments have failed to follow the rules needed to make it work, European Central Bank Executive Board member Juergen [...]  |
| Eurogroup head Juncker: Clear Greece cannot return to markets in 2012 Posted: There’s the puff of white smoke assuring the markets that there will be a another package for Greece…Since they are not living up to conditions attached to the present package, the eurogroup finds itself in a very tough spot…  |
| ECB’s Stark:Debt Restructuring No Solution To EMU Debt Crisis Posted: AACHEN, Germany (MNI) – The Eurozone economy is on the road to recovery, yet the Monetary Union is in the midst of a severe crisis, because governments have failed to follow the rules needed to make it work, European Central Bank Executive Board member Juergen Stark said Friday. For highly indebted countries now dependent on [...]  |
| Posted: Greek restructuring fears helped push EUR/USD to fresh lows and rebounds are now running into headwinds at 1.4120, the former spike low broken late in London trade. 1.4050 and 1.4000 exotic triggers are likely to slow the decline of the single currency and should be enough to keep it in check ahead of the weekend. [...]  |
| More from Stark: No restructuring Posted: Speculation of Greek restructuring based on false assumption it is insolvent (though apparently his government favors some sort of restructuring...) Don’t underestimate massive harmful effects for Greece, euro zone from restructuring Effects far reaching, difficult to calculate Would prompt more bailouts since domestic banks would be pushed to the brink Restructuring risks contagion  |
| US Tsy’s Geithner: Social Security to Exhaust Assets 2036 Posted: –Trustees Report:Social Security Exhausted 1 Year Earlier Than 2010 Est –Medicare Assets Exhausted 2024, 5 Years Earlier Than Previous Report By Heather Scott WASHINGTON (MNI) – U.S. Treasury Secretary Tim Geithner announced Friday that Social Security will exhaust its assets in 2036, one year earlier than estimated in 2010, while Medicare will go bust in [...]  |
| ECB’s Stark: Crisis? What crisis? Posted: Euro is not in crisis Some euro area countries are in crisis Euro remains an anchor of stability and trust Europe in worst crisis since WWII Many of Europe’s problems home made  |
| Die Welt: Europe split over Greek debt extension Posted: The ECB and France are opposed to longer maturities EU, IMF, Germany back longer maturities on Greek debt Germany favors voluntary restructuring Bloomberg carries the headlines in English…  |
| CNBC blaming some of the risk aversion on this… Posted: Al Qaida had plans to kill Obama near the 2012 election… Should not come as a terrible surprise that terrorists would like to kill the US president. The Secret Service works under that assumption 24 hours a day… Expect sellers on rallies to the 1.4120/1.4150 area near-term. 1.4065 was the spike low. Expect protection of [...]  |
| Posted: The May 5 lows at 1.0537 have been tested and so far the 38.2% Fibo of the 0.9740/1.1020 rally is right below…Key, Key area for AUD…  |
| Gold perilously close to uptrend support Posted: Could get ugly if $1478 is broken convincingly.  |
| If there was a 1.4100 barrier, it’s gone now Posted: Traded as low as 1.4097.. Bids coming in at 1.4100, traders say. Judging by the price action in USD/CHF it looks as though stops were still around above 0.8910. We’ve zoomed to 0.8927.  |
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