January 4th, 2011 15:44:09 GMT

Commodity currencies getting creamed…

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Wasn’t it just yesterday that USD/CAD broke below 0.9900? Here we are only 24 hours later and we’re about to break 1.000. I hate getting to a party late…

AUD/USD is testing bids in the 1.0050/55 area. A break targets support just below the 1.00 level, around 0.9988.

Oil is down $2.50, gold is down about $35 to $1382.50 and the CRB is down 1.85% as the commodities bubble starts to leak.

4 Comments

January 4th, 2011 15:34:43 GMT

Greece not discussing debt restructuring: FinMin

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In a Reuters interview, the Greek finance minister says Greece is not discussing a debt restructuring with its creditors.  Also,

  • Tax evasion laws will be toughened by February
  • Talks with China progressing on debt buying; timing not clear
  • Confident EU will agree to issue euro area bonds in the future

EUR/USD has not bounced at all on the comments, trading at 1.3342.

1 Comment

January 4th, 2011 15:15:21 GMT

US November Factory Orders Rise 0.7%; Nondurables Up 1.7%

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–November Durables Goods New Orders Revised Up To -0.3% (Prev -1.3%)

By Kevin Kastner

WASHINGTON (MNI) – The value of new factory orders rose 0.7% in
November, a better-than-expected rise due to an upward revision to the
drop in durable goods orders and a solid nondurables orders increase,
data released by the Commerce Department Tuesday morning showed.

Analysts in a Market News International survey had expected factory
new orders to hold steady in November.

Durable goods orders were revised up to a 0.3% decline
for the month from the original 1.3% decline reported earlier, while
nondurable goods orders rose 1.7%.

Petroleum and coal products shipments, which are equivalent to new
orders in this data, jumped 4.2% in November, likely due to higher
prices.

Transportation orders fell 11.1% in the current report, a slightly
better result than the previously reported 11.9% decline.

Total factory orders excluding transportation rose 2.4%, with
strength in other durables components.

Overall factory shipments rose 0.8% in November. Nondefense capital
goods shipments rose only 0.1%, but were up 1.1% when aircraft shipments
were excluded.

Factory inventories rose 0.8% in November, while unfilled orders
rose 0.6%.

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]

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January 4th, 2011 15:12:48 GMT

Euro gives up the ghost after expiry

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The combination of strong US factory orders and the passing of the 15:00 expiry have seen EUR/USD edge lower in it srange. From early 1.3435 US highs, we’re now down to 1.3352.

Bids are seen in the 1.3325/35 area; stops reside below.

1 Comment

January 4th, 2011 15:06:06 GMT

US DATA: Nov factory new orders +0.7%, above the…..

by

US DATA: Nov factory new orders +0.7%, above the flat reading
expected, as durables orders rev up to -0.3% (prev -1.3%). Nondurables
orders +1.7%, led by a price-related jump in petroleum and coal
products. Total factory orders ex. transport +2.4%. Factory shipments
+0.8%, with nondef cap gds shipments +0.1% and +1.1% ex aircraft.
Factory inventories +0.8%, unfilled orders +0.6%. Inventory-to-shipment
ratio 1.28, unch from Oct.

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1 11,086 11,087 11,088 11,089 11,090 11,091 11,092 11,093 11,094 11,095 11,096 15,624

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