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- ForexLive US wrap: CHF again surges to a record as Euro and dollar dither
- Swedish FinMin: Greece should follow in Estonia’s footsteps
- Early warning…
- Greece’s Papandreou: We will achieve more by working together
- Airbus chief: Overvalued euro is a risk for peripheral euro-zone countries
- Juncker: All euro area nations back Lagarde’s IMF candidacy
- EU wants “pragmatic flexibility” from IMF on Greek loan
- US’s McConnell: Medicare Reform Must Be Part Of Debt Hike Deal
- EU’s Rehn: Regrets failure of Greeks to reach budget deal
- BOE’s Dale: Not confident about strength of recovery; household sector weak
- BIS was a rumored seller last time up
- I’m gonna go out on a limb…
- Don’t forget about those stops around 1.4310
- Greek opposition leader says will not consent to austerity policies
- Fresh record for Swissy
- Trichet: EMU Mid-Term Inflation In Line With Price Stability
- Trichet: Inflation will trend below 2% in medium-term
- Mr. Market loves him some cable
- France coming around on “burden sharing”
- US BudgetRecap: Hill Leaders Shift Fiscal Hope On Biden Panel
| ForexLive US wrap: CHF again surges to a record as Euro and dollar dither Posted: US Personal income an spending each rise +0.4% in April University of Michigan consumer sentiment index rises to 74.3 (final) in May from 72.4; stronger than expected US April pending home sales fall 26.8 y/y in April, 11.6% m/m German inflation drops in May to 2.4% y/y; lower than expected Greek central bank: Will be [...]    |
| Swedish FinMin: Greece should follow in Estonia’s footsteps Posted: Estonia cut spending by the equivalent of 15% of GDP Greece must swallow the medicine prescribed: raise taxes and cut spending Can only discuss reprofiling once Greece has a very substantial surplus Cannot sell EUR 300 bln in state assets in a short-time  |
| Posted: I’m winding up at 3 pm New York time today so that I can take my 5-year old to ballet lessons. I’m betting you can watch this go nowhere without me…  |
| Greece’s Papandreou: We will achieve more by working together Posted: Greece needs to show unity, determination Continues to be open to cooperation Must all take brave decisions to reduce the ineffective state Elections will take place at end of mandate in 2013 Many areas on which agreement can be found Government will do what it takes with or without wider consent Greece must show unity [...]  |
| Airbus chief: Overvalued euro is a risk for peripheral euro-zone countries Posted: And it doesn’t do me much good either, I’m sure he’s thinking. EUR/USD is a tick lower on the comments, which were carried by Dow Jones. It is now at 1.4275. Looks like there is a steady buyer now between 1.4265 and 70 holding this pair aloft into the weekend…  |
| Juncker: All euro area nations back Lagarde’s IMF candidacy Posted: Even Ireland? If so, expect a rate cut on the Irish loan and a hands-off the corporate tax rate pledge from the euro group.  |
| EU wants “pragmatic flexibility” from IMF on Greek loan Posted: That’s why it is so important for them to get a European at the helm of the IMF, so they can use the same pretzel logic that got the euro zone into this mess in the first place. In EU-speak, pragmatic flexibility means “shut up and sign the damn check”. It is ironic that it [...]  |
| US’s McConnell: Medicare Reform Must Be Part Of Debt Hike Deal Posted: –Senate Minority Leader: Biden Talks ‘Only Discussions In Town’ –Debt Hike Provides ‘Great Opportunity’ To Fix Deficit –Tax Reform, Social Security Fix Won’t Be In Debt Hike –Markets Must See Debt Deal Isn’t ‘Blue Smoke and Mirrors’ By John Shaw WASHINGTON (MNI) – Senate Minority Leader Mitch McConnell Friday said significant reform of Medicare is [...]  |
| EU’s Rehn: Regrets failure of Greeks to reach budget deal Posted: Time running out for Greece reaching budget deal EU expects more effort toward cross-party agreement Essential for Greece to to back EU/IMF plan  |
| BOE’s Dale: Not confident about strength of recovery; household sector weak Posted: Has voted for hikes because worried high inflation could persist Could change view on rates in either direction Next year or two will be bleak but weaker GBP could help exports Cable slipping back to earth after breaking above 1.6500…  |
| BIS was a rumored seller last time up Posted: Not sure whether they are still around but the BIS was a rumored seller into strength earlier in the day. We traded as high at 1.4298 on this run. 1.4299 was the top last time up. Looks like the short-squeeze from hell after demand for EUR at the week-ending fixing…  |
| Posted: An predict barrier protection ahead of 0.8500 in USD/CHF….  |
| Don’t forget about those stops around 1.4310 Posted: We stalled earlier at 1.4299 but we’re doing a late session melt-up. Beware of stops at 1.4310 and more (much more) above 1.4350…  |
| Greek opposition leader says will not consent to austerity policies Posted: Need tax rate cuts to stimulate growth state assets sales, cost cuts needed Won’t accept being blackmailed EU bailout must be renegotiated EUR/USD is easing from its fixing-inspired gains n the news as well as Trichet’s less-hawkish inflation view.  |
| Posted: Trades to 0.8520 on EBS. EUR/CHF made its record run yesterday… Swiss remains the favored place to hide from both the US slowdown and the Greek contagion.  |
| Trichet: EMU Mid-Term Inflation In Line With Price Stability Posted: FRANKFURT (MNI) – Inflation in the Eurozone in the medium term will be in line with the European Central Bank’s definition of price stability, ECB President Jean-Claude Trichet said in a German newspaper interview released Friday. Trichet told the Aachener Zeitung that “in the medium term, price developments will correspond to our definition of price [...]  |
| Trichet: Inflation will trend below 2% in medium-term Posted: Greece must fully stick to EU/IMF aid program The euro and inflation are stable Doesn’t sound like a guy who is desperate to hike rates, does it? EUR/USD is zooming, presumably on fixing demand, now at 1.4280.  |
| Mr. Market loves him some cable Posted: They hated it after the ECB fixing passed, knocking it down to 1.6412 from 1.6464 after the US personal income data. We have retraced that entire move. I have no particular idea why.  |
| France coming around on “burden sharing” Posted: It looks as though Sarkozy’s position on restructuring of Greek debt is beginning to evolve. He know says he favors private-sector “burden-sharing”. "France will not use the word 'restructuring'," Sarkozy declared. "We must not envisage this reality." However, if the issue is whether the private sector can "share part of the burden, we are not [...]  |
| US BudgetRecap: Hill Leaders Shift Fiscal Hope On Biden Panel Posted: –Vice President Biden Sees Broad Accord On $1 Trillion In Savings –In Symbolic, Political Votes, Senate Defeats Four Budgets –Senate Budget Committee Chairman Conrad Says Biden Talks Are Key –Sen. Conrad: ‘Makes No Sense’ For Senate Dems To Offer Own Plan Now By John Shaw WASHINGTON (MNI) – In unusually frank assessments of the state [...]  |
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