Forex News
EU Calls on G20 to Tackle Imbalances
– EU leaders have called on the G20 to address ‘global imbalances. – The internal imbalances of the eurozone should also be a priority.
Asia Flash: Blue skies for Asia FX, we are the bulls
In our view, this week will continue to be risk on sentiment in Asia. Tomorrow, China October PMI may print 52 vs. BBG 51.8 and September 51.2. Our leading indicator analysis suggests that China Q4 11 GDP will rise to 9.3-9.5% y/y versus 9.1% in Q3 11.
UniCredit EEMEA Daily
News LT: Positive – Sept retail trade growth increases to 20.9% yoy (p2) UA: Mixed – Sept C/A deficit YTD reaches USD 5.5bn, FDI remains high / IMF arrives in Ukraine this week (p2)
HSBC: Currencies: Technical Analysis: Copper collapse to continue
Copper should hit new lows in coming weeks. The wave down from the summer high is not yet complete and this barometer of economic strength is signalling continued pressure on “risk”. Gold is about to break much lower from its completed double top pattern but Crude Oil is holding on to some bullish potential.
FX DAILY STRATEGIST: Asia – 28 October 2011
Scale of Thursday’s EURUSD run up testament to the scale of the short EUR base Throughout the explosive run up in EURUSD from sub-1.38 on Wednesday afternoon in New York to above 1.4200 during Thursday’s New York morning/European afternoon session, it was hard to find anyone with anything constructive to say about the euro here… […]
US Economics Digest – FOMC Preview: The Neverending Story
The “Operation Twist” portfolio maturity extension program has only just gotten underway and already more Federal Reserve policy easing is under consideration. The types of additional easing the Fed has been contemplating fall into three broad categories. We discuss the prospects for each option in turn:
Italy: Government reportedly close to agreement on pension reform
According to Maria Stella Gelmini, a government official, PM Berlusconi and Northern League leader Umberto Bossi have agreed on how to raise the retirement age for both men and women woman working in both the private and public sectors.
Time is close for Azumi to crap or get off the pot…
On Monday Azumi stated that 75-76 was a speculative level for the Yen. He’s now revising it higher, and laying the groundwork for another unilateral intervention regardless of G20 rhetoric on market determined prices.
What matters today (Asia edition)
Developed macro 1. Risk appetite took a hit on unexpected cancelation of the EU EcoFin meeting and soft US data 2. Both EU 27 and EU 17 meetings are taking place later today. It is still unclear whether EU leaders will be able to reach a comprehensive agreement today. 3. US: September New Home sales […]
UniCredit EEMEA Daily
News BG: Neutral – Ruling CEDB party consolidates power after the first round of presidential and municipal elections (p2) PL: Mixed – FinMin J. Rostowski said that any adjustments to the 2012 budget assumptions will depend on the effectiveness of EFSF (p2) TK: Mixed – September Capacity Utilization Rate at 77.0% (p2)
UBS Sales Desk Europe’s Other Deficit
While financial markets remain fixated on the outcome of the EU summit, European data continues to fall short. Yesterday’s new lows for Eurozone flash manufacturing PMI are worrying, particularly with once-booming Germany facing its first sub-50 reading since September 2009.
Australia: RBA Deputy Governor Battellino signals a ‘wait-and-see’ approach
In an address to an Australian and New Zealand investment conference, Reserve Bank of Australia Deputy Governor Ric Battellino appeared to signal a “wait-and-see” approach to policy settings.