Author: Eamonn Sheridan

Comments from the International Monetary Fund on the Reserve Bank of New Zealand

  • Says NZD is now less overvalued than it was
  • Still might be around 10% overvalued ... but "uncertainties around these estimates"
  • Say the current accommodative monetary stance appropriate
  • If needed, RBNZ should stand ready for further easing given low inflationary pressures and below potential output
  • Economy continues to perform well

IMF mentions the drags on the economy:

  • Fall in dairy prices
  • Slowing in Canterbury rebuild
  • Slower growth in economies offshore of trading partners

"Medium-term prospects remain positive"

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Author: Eamonn Sheridan

AUD/USD & NZD/USD orders

AUD/USD orderboard AUD/USD Currently 0.7085 -  NZD/USD Currently 0.6627

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Author: Eamonn Sheridan
5

Goldman Sachs on recession fears - chill out!

Goldman Sachs Chief Economist Jan Hatzius comments on recession fears In brief: - Says 'false signals' coming from stock market sell offs and credit markets A few graphs to accompany the argument:

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Author: Eamonn Sheridan
9

Bank currency trader layoffs make the news!

with a report on job losses in investment banking, "and the downsizing has been hard on foreign-exchange desks at many banks" Bloomberg - An interesting story, but not really "news". 

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Author: Eamonn Sheridan

Economic data due from Australia, Japan, NZ today

And ... just to repeat myself ... holidays in Asian centres today: HK, Singapore & China We've had some data from NZ this morning already: NZ data - Truckometer (January): -4.3% m/m Coming up during the day from the region

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Author: Eamonn Sheridan
7

Trade ideas thread for Tuesday 9 February 2016

Good morning/evening/afternoon. And just a heads-up for holidays in Asia here today. Singapore, Hong Kong, China all closed. Any trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: 

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Author: Adam Button
1

ForexLive Americas FX news wrap: USD/JPY breaks down

Forex news for US trading on Feb 8, 2016: - Gold up $17 to $1191 - WTI crude down 89-cents to $29.98 - US 10-year yields down 10 bps to 1.73% - S&P 500 down 32 points to 1848 USD/JPY took out major support near 115.50 as it fell 230 pips from the highs at the start of European trading. It was a non-stop cascade of stops into the London fix, when it hit a session low of 115.18. It bounced to 115.80 from there and consolidated; getting some support late as stocks pared losses. The close is key here.

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Author: Adam Button
18

Bill Gross: Fed has to stay, lower rates or have new QE

Everyone is predicting a reversal now Gross has been consistent but suddenly everyone is saying the Fed made a mistake in December. I suspect the same experts are all now saying they knew the Denver Broncos would win the Super Bowl.

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Author: Adam Button
14

What happens when the dam breaks

This is the make-or-break moment USD/JPY broke a huge support level today. Technically, that leaves very little support until 110.00, or lower. The S&P 500 is down 45 points today in the second day of heavy selling. The low is 8 points from the August bottom and 16 points from the January spike low.

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Author: Adam Button
20

The scariest thing about the recent volatility

...is that the Fed still thinks it's about China This isn't about China. Or at least it's not one of the top three things that's driving risk aversion. Today's markets should make the perfectly clear. The panic selling came after a report that said  restructuring (ie bankruptcy) lawyers.

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Author: Adam Button
6

Gold breaks $1200

The downtrend at $1205 is the next level to watch It's the first time above $1200 since June.

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Author: Adam Button

SocGen sees bullish signals from EUR/GBP and USD/CAD

From SocGen: Having achieved our advocated target of 0.7750, has been undergoing a pause. The pair has sustained above the confirmation level of the double bottom and inverted H&S at 0.75/0.7450 which remains an important support. Recently, the pair has rebounded after testing a multi month trend support (currently at 0.76) and is now closing in on January highs of 0.7750.

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Author: Adam Button
4

USD/JPY sags again as rebound to 116.00 fails

USD/JPY and stocks under fresh pressure At some point, the story isn't just the market moves, it's the volatility. Buy-and-hold investors and carry traders hate volatility. Eventually, they decide to quit for the sidelines.

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Author: Ryan Littlestone
1

Can USDJPY reclaim 116.00 or is the cat going to go thud?

115.80 is resistance now but the big figure will be the important line to regain That's quite possibly it for the day as afar as the downside goes. That's 235 pips door to door and that puts the price well in the realm of being stretched, for this pair.

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Author: Ryan Littlestone
6

Eurozone isn't the source of market uncertainty says ECB's Coeure

Benoit Coeure speaking on BFM radio - ECB seeks to protect the Eurozone from being the victim of a global slowdown - Eurozone recovery is confirmed - ECB's policies are working Obviously Europe is going to bust the current global trend of weaker growth, purely down to what the ECB is doing.

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