FOREX NEWS | CURRENCY NEWS BY FOREXLIVE
Cable dips down through the 200 week MA and heading towards sell stops
Currently sitting around a day’s low of 1.5876 just under the 200 week MA around 1.5879, which could be significant on a close tomorrow night. Below here are reported sell stops on a break of 1.5870, ahead of some bids towards 1.5850.
Technical support beneath then comes in at the converging 100 and 200 day MA’s at 1.5827.
Cost of Greek exit from euro put at $1 trillion
Nerves are jangling amid reports of massive amounts of money descreetly leaving Greece.
Yesterday BOE’s Governor Mervyn King hinted at further QE if Europe fails to stabilize, and the British government is now making preparations to cope with a potential Greek exit from the euro.
US Pres Obama is also keeping an eye on developments, describing the Greek situation as a “headwind” that could threaten the US’s delicate recovery.
Spanish auction comes…….and goes
Raised 2.494 bln. top end of 1.5-2.5 bln target range.
Had to pay up though
April 2016 bond average yield 5.106% from previous 3.374%
July 2015 bond average yield 4.876% from previous 4.037%
January 2015 bond average yield 4.375% from previous 2.890%
Italian banking association: 137 bln euros of bank credit coming due in 2012
Cue the Jaws music……
- Italy bank funding from retail clients very weak, although positive in early 2012
- Working with CONSOB on steps to help bank debt issue
- Window of opportunity for Italy banks to issue on international markets appeared to be closing again
Another barnburner in EUR/USD, but there is some good news…
I’m off on a long weekend today and I won’t be back till at least Tuesday, maybe longer
Yipeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!!!!
Bankia clients pull out over 1 bln euros – Report
El Mundo reports, citing information from board meeting Wednesday.
New democracy leader Samaris: Greece has 2 choices….
- Elections on June17 will be about Greece remaining in the Euro, and Greece has to change with the rest of Europe or face the horrors and isolation of a euro exit and collapse of everything built so far.
Comments made on state run TV
Spain goes to the well this morning……
Hope it hasn’t gone dry
Spain to tap 4.00% July 2015 bono, 4.40% January 2015 bono and 3.25% April 2016 bono
Target amount 1.5-2.5 bln
Results due soon after 08:40 GMT.
Monti, Hollande, Merkel, Cameron, Von Rompuy pre G-8 videoconference scheduled for about 15:30 GMT
According to Italian sources.
Reuters reporting.
Ya just can’t beat a good videoconference is what I say.
I’m sure they’ll sort everything out
‘Vulture funds’ circle as Greece fears grow
Someone’s benefitting from all this Greek chaos…..
Market Talk
Today’s orderboardEUR/USD: Offers 1.2755/65, suggested buy stops just above ahead of real money offers 1.2790/00. Bids...
European stocks look set to open little changedProbably betta off saying flat really Financial bookies see FTSE opening up around +0.1%, DAX up around...
Today’s option expiries…..For the 1000 NY/1400GMT cut… EUR/USD: 1.2790, 1.2800, 1.2850, 1.2900, 1.3000 GBP/USD: 1.5850, 1.5930...
Economics
French FinMin: Government won’t approve EU fiscal compact as it standsI’m sure Angela Merkel is quite prepared to make whatever changes you’d like mate ;) I...
Market in the habit of overreacting to FOMC minutesThe minutes of the April 24-25 FOMC decision will be released at the top of the hour. The statement and...
US April industrial production +1.1% m/m vs +0.6% expThe headline is not as good as it seems, the March reading of 0.0% was revised to -0.6%. Net, the report...

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