Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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ForexLive US wrap: ISM an upside surprise

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ISM index rebounds to 55.3 in June from 51.8 in May University of Michigan consumers sentiment index falls to 71.5 (final) from 71.9 expected EU’s Rehn: Next Greek tranche almost certain ECB’s Noyer: No plan B for Greece, must execute economic plan DSK released on own recognizance; bail returned US 10-year note yield rises 5 [...]

ECB’s Noyer: Greece Debt Rollover Plan Is Attractive To All

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PARIS (MNI) – France’s proposal for a rollover of Greece’s debts could allow the government in Athens the time needed to make its economy more competitive, according to ECB Governing Council member Christian Noyer. “It’s a solution that has the advantage of being voluntary — since the banks themselves proposed it — and is attractive [...]

US DATA: With Mazda, Honda and Toyota in, June dom…

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US DATA: With Mazda, Honda and Toyota in, June dom auto sales are mostly complete and we est the pace to be 8.6m units vs 8.8m in May.

Best Geithner headline yet…

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Daily Caller: Geithner finds job too taxing?

US CongressWeek: Hill,Admin Gearing Up For 3-Week Budget Push

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–As House, Senate Return to DC Next Week, Partisan Shots to Continue –Budget Experts Expect Quiet Probing For Debt Ceiling Deal –Senate Majority Leader Says Four Proposals Under Consideration –Republicans Continue to Support Balanced Budget Amendment By John Shaw WASHINGTON (MNI) – As it pertains to American fiscal policy, it is safe to say that [...]

ECB’s Noyer: No plan B for Greece

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Athens must succeed with current economic plan There are still issues to be resolved on French bank rollover plan EUR/USD replies with a quiet ZZZzzzzz… Stuck at 1.4510

Summary of Select June US Auto Sales Figures Reported July 1

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WASHINGTON (MNI) – The following is an initial summary of the June U.S. sales performance of select auto manufacturers announced Friday: * General Motors dealers in the United States reported 215,358 total sales in June, an 11% gain compared to June 2010. Retail sales for GM’s brands rose 16% for the month, compared to a [...]

I’m not gonna lie to ya, kids

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Short of a flaming tape bomb, I think we’re done for the day… My interest in this stuff is frankly at a low-ebb as I contemplate cold beverages and personal explosives for the July 4th weekend.

US DATA: Chrysler Jun sales are out. With abotu 5/8..

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US DATA: Chrysler Jun sales are out. With abotu 5/8 reporting, the Jun sales pace is about 9.2m domestic vehicles vs 8.8m in May.

US DATA: Ford Motor Co’s Jun sales +14% YOY. It is…

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US DATA: Ford Motor Co’s Jun sales +14% YOY. It is still too early to est a domestic sales pace.

DSK gets out of jail free

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No more house arrest and his bond has been returned. His passport is still in the possession of  the authorities, however.

Stocks continue gains, euro at fresh NY highs

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Looks like the algos may have already taken the reins for the day as EUR/USD marches higher with the S&P. Stocks are up about 5% on the week, while oil slips back below $94.00, a happy combination. 1.4535 is next resistance for EUR/USD.

US DATA: Jun ISM-Milwaukee was 59.0 vs 62.0 May……

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US DATA: Jun ISM-Milwaukee was 59.0 vs 62.0 May.

SEC Proposes Fiduciary Duty for Public-Fund Swap Advisers

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The U.S. Securities and Exchange Commission proposed a rule that would impose the fiduciary duty as part of business-conduct practices for swap dealers advising so-called special entities.    The rule would require swap dealers advising pension funds, endowments and municipalities to place the interests of such investors above their own.    Dealers would also have to "reasonably [...]

German net new borrowing to drop to EUR 28 bln in 2012: Spiegel

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Hell, the US borrows that much before lunch…

US DATA: GM reporting Jun sales +11% YOY. Stay…….

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US DATA: GM reporting Jun sales +11% YOY. Stay tuned.

US DATA: BLS reports no strikes in the Jun payroll…

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US DATA: BLS reports no strikes in the Jun payroll survey pd.

US Tsy: No Change in Aug 2 Date for End to Borrowing Options

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–Again Urges Congress to Avoid ‘Catastrophic’ Default By Heather Scott WASHINGTON (MNI) – August 2 remains the deadline when the U.S. Treasury will run out of options to borrow under the $14.294 trillion statutory debt limit, the department said Friday, again urging Congress to avoid the “catastrophic” consequences of a default and raise the limit. [...]

US Tsy: No Change in Aug 2 Date for End to Borrowing Options

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–Again Urges Congress to Avoid ‘Catastrophic’ Default By Heather Scott WASHINGTON (MNI) – August 2 remains the deadline when the U.S. Treasury will run out of options to borrow under the $14.294 trillion statutory debt limit, the department said Friday, again urging Congress to avoid the “catastrophic” consequences of a default and raise the limit. [...]

Ay carumba!

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EUR/USD has rebounded smartly, not that surprising since it usually rises with stocks. More surprising is the stalling USD/CHF and USD/JPY. USD/JPY seems to be in sell-rallies mode after the poor follow-through from the break above 81.00 earlier this week. USD/CHF may just be a case of too far, too fast. I suspect our friends [...]

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