Your forexlive

China’s Premier Wen: says to cool prices, avoid big fluctuations in growth

Posted:

Price controls a top priority To stick to prudent monetary policy To keep reasonable growth in overall financing To push forward FX rate regime reforms To seriously implement pro-active fiscal policy To strictly control risks of local govt financing vehicles Avoid lagging impact on economy from monetary policy To stabilise inflation expectations

Cable gets a lift from some sovereign buys..

Posted:

From around the 1.5810 level I’m told as GBP/USD lifts to 1.5840

I won’t even attempt……

Posted:

To try and explain what’s been going on over past hour or so. For a minute I thought we were seeing another bout of official G7 intervention in EUR/JPY, but seems not. Very choppy, very nervy. ACB seen selling into recent rally back over 1.3900 slowing ascent. Talk of decent sell orders clustered up at [...]

CLG: UK May House Prices -0.5% M/M; -1.6% Y/Y

Posted:

LONDON (MNI) – UK house prices slipped 0.5% on the month in April and fell 1.6% on the year, Communities and Local Government said today. The CLG said that the average house prices dropped 0.1% over the three months through May, compared to a quarterly decrease of 0.3% over the quarter to February. The CLG [...]

UK DATA: UK May house prices -0.5% m/m -1.6% y/y -…

Posted:

UK DATA: UK May house prices -0.5% m/m -1.6% y/y – CLG

UK Data: May Goods Trade Deficit Widens As Imports Rise

Posted:

–UK May Global Goods Trade Deficit Stg8.478bn vs Stg7.643bn Apr –UK May Non-EU Goods Trade Deficit Stg5.109bn vs Stg4.508bn Apr –UK May Total Trade Deficit Stg4.060bn vs Stg3.140bn Apr –UK May Global Trade Gap Ex-oil/erratics Stg8.396bn vs Stg6.859bn Apr –UK May EU-27 Trade Deficit Stg3.369bn vs Stg3.135bn Apr LONDON (MNI) – The UK’s goods trade [...]

UK Analysis: June CPI Inflation Posts Surprise Fall

Posted:

–Jun CPI -0.1% m/m; +4.2% y/y vs May +4.5% y/y; below median –Jun core CPI -0.2% m/m; +2.8% y/y vs May +3.3% y/y; below median –Jun RPI unch. m/m; +5.0% y/y; Jun RPIX unch. m/m; +5.0% y/y LONDON (MNI) – Consumer prices fell on the month in June for the first time in 8 years, [...]

UK DATA: Jun CPI -0.1% m/m; +4.2% y/y vs May +4.5%…

Posted:

UK DATA: Jun CPI -0.1% m/m; +4.2% y/y vs May +4.5% y/y; below median –Jun core CPI -0.2% m/m; +2.8% y/y vs May +3.3% y/y; below median –Jun RPI unch. m/m; +5.0% y/y; Jun RPIX unch. m/m; +5.0% y/y ———————————————————————— Consumer prices fell on the month in June for the first time in 8 years, [...]

UK June CPI -0.1% m/m, +4.2% y/y

Posted:

Weaker than expected, median forecasts +0.2%, +4.5% respectively. First June m/m fall since 2003. Lowest y/y read since March. ONS says main downward pressure on y/y CPI rate from electronics, upward pressure from food. UK May global goods trade balance -8.478 bln, much weaker than median forecast of -7.37 bln.

Italy’s FinMin Tremonti says coming back to Italy from Brussels to finish job on austerity plan

Posted:

Doesn’t sound like he’s going anywhere then. Mutterings of ECB buying periphery bonds. EUR/USD recovers, presently at 1.3895 in what are probably rather thin trading conditions.

Germany Seeks Bids On E4 Bn Top Up Of Jul 2021 Bund Jul 13

Posted:

FRANKFURT (MNI) – The German federal government called for bids Tuesday on its E4 billion top-up of the 3.25%-coupon July 2021, 10-year bund, the Bundesbank announced Tuesday. Bids for the top-up are due by 9:00 GMT Wednesday, July 13, with results of the allocation to be announced shortly thereafter. The top-up tranche will settle on [...]

Portugal PSI20 stock index suspended on technical problems

Posted:

Major Japanese bank crushes USD/JPY

Posted:

Entity very aggressive seller in recent trade. Triggered stops through 79.50. Been to 79.17 and back up at 79.35.

Dutch FinMin: Selective Debt Default For Greece Not Ruled Out

Posted:

BRUSSELS (MNI) – The Eurogroup now have more options to deal with Greece’s debt problems, as a selective default is “no longer ruled out,” Dutch Finance Minister Jan Kees de Jager said Tuesday. The 17 finance ministers of the Eurozone have a broader scope to work with, he told reporters here. “The ministers of finance [...]

Portugal PSI20 stock index extends losses to 3%

Posted:

Bank stocks weigh. Spectre of Greek default and general euro zone periphery contagion continues to crush European bank stocks. Elsewhere, Greek stocks down 4.5% New session low 1.3865 for EUR/USD.

BOE Bean: Don’t Expect Too Much From Macroprudential Tools

Posted:

–BOE Bean: Monetary Policy May Have To “Lean Against The Wind” –BOE Bean: Monetary, Regulatory Policy Needed For Stability LONDON (MNI) – Macroprudential tools, the fashionable instruments among policymakers in the post financial crisis world, have a patchy success record and it is a mistake to expect too much from them, Bank of England Deputy [...]

USD/JPY gives ground in early European trade

Posted:

Against the distinctly risk off environment, USD/JPY has slipped lower. Down presently at 79.80 from around 80.05 when I sat down. Talk of buy orders clustered 79.70 thru 79.50. Barrier option interest 79.50, stops below there.