November 26th, 2010 15:07:43 GMT

I thought it was the rotation of the Earth


After reading this dispatch from South Korea this morning, I now learn otherwise…

Many houses were blackened, half-collapsed or flattened, the streets littered with shattered windows, bent metal and other charred wreckage. Several stray dogs barked as they sat near destroyed houses. A group of South Korean marines carrying M-16 rifles patrolled along a seawall as the sun rose from the ocean.


November 26th, 2010 15:02:55 GMT

Risk aversion easing…


US equities are well off earlier lows in the cash market and even stronger relative to lows seen in the futures markets.

S&P futures were down over 15 points overnight on renewed tensions on the Korean peninsula but are now down just 5 points as a busy “Black Friday” shopping day raises hope that retailers will have a strong holiday season. That would boost GDP…


November 26th, 2010 14:57:14 GMT

EUR/USD lengthening rebound gains


Looks like we could bounce toward 1.32900/3300 technically after double bottoming near 1.3200.

USD/JPY is rallying as well, breaking 84.00 with relative ease and trading up to 84.08 so far. 84.20 stops are rumored.

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November 26th, 2010 14:09:11 GMT

A time to give thanks…


If you’d like to give thanks for the gift that keeps on giving, ForexLive, hit the link and open an account with our sponsor FXDD.

The more business ForexLive brings to FXDD, the more resources we can devote to ForexLive.


November 26th, 2010 13:52:17 GMT

AUD/USD seeing corporate buying


Having seen levels above 1.00 in the last month, Aussie corporates are taking advantage of today’s weakness to do some repatriation. They’ve been buyers in the high 0.9620-low 96.30s in recent trade. Asian central banks have been buyers in the 0.96-teens, perhaps defending at 0.9600 barrier.


November 26th, 2010 13:49:34 GMT

Heavy exporter offers at 84.00


USD/JPY is chipping away at offers in the high 83.90s as the dollar melt-up continues. Large stop-loss buy orders are seen in the 84.20 region, traders report.

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November 26th, 2010 13:47:17 GMT

Spain to talk with Eurogroup this weekend


Spanish economy minister Salgado says she will speak will speak with her fellow ministers this weekend on the euro.

No Need to talk of a bailout for Portugal as measures are to be adopted within their budget, she says…

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November 26th, 2010 13:37:37 GMT

Spain to start reporting monthly on public debt


Oh goody! Something new to look forward to!

With Spain, the problem right now is not so much he public debt as the likelihood that bank debt will eventually become public debt, like in Ireland…Both countries had massive US-like property bubbles (which of course are the fault of George Bush because he didn’t rein in Spanish banking regulators and Irish property developers..)


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