Gen dk 22:22 GMT February 6, 2009
Reply
Trading Signals Updated:
CLICK HERE for more Gen dk information
Amsterdam Purk 19:25 GMT February 6, 2009
Hillegom Purk 07:28 GMT February 6, 2009
GOING DOWN: Reply
8693 in. Glory or nothing it is. Keep some for lower and lower and lower and higher and higher.
Hillegom Purk 20:05 GMT February 5, 2009
eur/gbp: Reply
8743 in.
Amsterdam Purk 12:57 GMT February 5, 2009
eur/gbp: Reply
8777 in.
Amsterdam Purk 12:26 GMT February 5, 2009
eur/gbp: Reply
G'day. Me starting to buy e/gbp. starters at 8800, and expect to buy more at lower levels.
Target: i do not have a clue, lets say profit.
UPDATE:
8693 AND 8743 OUT at 8758. KEEPING THE , fk dont shout Purk, 8777 and 8800. Maybe getting chances for low.
Have a nice weekend. Keep an eye on stocks and copper.
Lahore FM 19:08 GMT February 6, 2009
02/04/2009 13:32:01 FM Lahore 52
order in at 2.1800 offer to go long with 2.1550 stop.
--
long gbpaud in play now from 2.1800 with 2.1766 bid low.stops in place too.
Gen dk 18:59 GMT February 6, 2009
Reply
Trading Signals Updated:
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van jv 18:38 GMT February 6, 2009
Reply
Published on Friday, February 6, 2009 by Deutsche Welle (Germany)
Nationalized Banks Are 'Only Answer,' Economist Stiglitz Says
In an interview with Deutsche Welle, Nobel-winning economist Joseph Stiglitz talks about nationalizing banks, the outlook for developing countries, and the need for an international financial regulator.
Joseph Stiglitz was awarded the Nobel Prize in economics in 2001. Under US President Bill Clinton he served as chairman of the Council of Economic Advisers from 1995- 1997. He was chief economist of the World Bank from 1997-2000 and was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize. He is currently a professor at Columbia University in New York.
OPINIONS
Lahore FM 18:00 GMT February 6, 2009
good weekend all..see again with 1.3000 print.
Lahore FM 16:56 GMT February 6, 2009
02/05/2009 19:07:10 FM Lahore 28
dow,jpy crosses and carry crosses all ready to go through the top.
time for a break!
--
more to come if we close around current 8254 dji.
Lahore FM 16:48 GMT February 6, 2009
Lahore FM 13:38 GMT February 6, 2009
Trade Ideas: Reply
Lahore FM 13:28 GMT February 6, 2009
Trade Ideas: Reply
long cadjopy small 73.05,stops 72.30.
--
half of small out at 73.55.
--
all clsoed at 74.25 for +120 total
Netherlands Bob 16:04 GMT February 6, 2009
Reply
line at sand @ 925
Amsterdam Purk 15:59 GMT February 6, 2009
Reply
Goedemiddag. Pitty that some did not have the patience to keep the longs because as i said there where great opps in this pair.
Lahore FM 15:49 GMT February 6, 2009
02/05/2009 15:26:15 FM Lahore 31
earlier citi long 3.57 stopped fo minus 28 cents.enetred again at 3.32,stops later.
--
half of 3.32 long out at 3.78,rest stops on entry.
Lahore FM 15:38 GMT February 6, 2009
thanx Bob,will amend soon!
Netherlands Bob 15:21 GMT February 6, 2009
7890 will do fine even for SAR, I would not spend 90 points too much ;)
Lahore FM 15:16 GMT February 6, 2009
Lahore FM 15:11 GMT February 6, 2009
Trade Ideas: Reply
02/04/2009 19:20:25 FM Lahore 36
bought march snp at 830.50 and cash dow at 7963.
--
half snp 500 clsoed at 855.75 for 25.25 points.order higher removed,stops to 800 on rest.
--
cash dow 7963 out now at 8211 for +247,stps to 7800 on rest.
Bilad KaL 15:13 GMT February 6, 2009
Reply
CAble now getting ready for da dive into 1.38 IMO
maybe from next week
1.48 could be be 1.50
to 1.38 to 1.36
Lahore FM 15:11 GMT February 6, 2009
02/04/2009 19:20:25 FM Lahore 36
bought march snp at 830.50 and cash dow at 7963.
--
half snp 500 clsoed at 855.75 for 25.25 points.order higher removed,stops to 800 on rest.
Bilad KaL 14:32 GMT February 6, 2009
Reply
GBPNZD started the crash into 2.50 area
not sure where to short now
jkt-aye 14:26 GMT February 6, 2009
cable...is it going to tackle 1.4510 ?
HK Kevin 13:58 GMT February 6, 2009
I have the same feeling. I can't break previous daily low 1.2749.
Bilad KaL 13:56 GMT February 6, 2009
short eurjpy Looks like wants 115 again
Lahore FM 13:50 GMT February 6, 2009
crossing 1.2870 sees 1.3000 on eurusd.
GVI Forex john 13:42 GMT February 6, 2009
Monthly jobs U.S.
Refresh to update chart...
Click on chart for five-year history
Lahore FM 13:38 GMT February 6, 2009
Lahore FM 13:28 GMT February 6, 2009
Trade Ideas: Reply
long cadjopy small 73.05,stops 72.30.
--
half of small out at 73.55.
Lahore FM 13:28 GMT February 6, 2009
long cadjpy small 73.05,stops 72.30.
Bilad KaL 13:26 GMT February 6, 2009
eurusd might do 1.2840 to 1.2750 in us session
Lahore FM 13:23 GMT February 6, 2009
Lahore FM 09:35 GMT February 6, 2009
Trade Ideas: Reply
02/05/2009 22:23:04 FM Lahore 9
entered long usdcad 1.2328.looking for 1.2600 and up.
--
half closed at 1.2406,stops to 1.2230 for rest.
--
rest out at 1.2500 for +172 in all.
Amsterdam Purk 13:16 GMT February 6, 2009
Yes they can, "they" should/would/could/guess try it...
Gen dk 13:05 GMT February 6, 2009
Reply
Trading Signals Updated:
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NLD A. Heijn 12:41 GMT February 6, 2009
Purky, not everybody has access to the supermarkets you visit, so not everybody can be happy and optimistic as you are ;)
Amsterdam Purk 12:27 GMT February 6, 2009
Doom and gloom is back. Whenever you feel good please read these posts carefully.
GVI Forex john 12:20 GMT February 6, 2009
Canada jobs
Como Perrie 12:08 GMT February 6, 2009
Reply
So far there were some fundamental errors in recent months about the speculation of monetary policy and the like. It is not a problem of interest rates alone, but of the amount of liquidity that has been enflated over the real liquidity at disposal too much. So those countries most at leverage as UK and US particularly are the most at risk if equities crash seriusly this year. It might still happen, but not so soon yet and might happen due extraordinary casualties or factors.... till now the market overdigested the whole and is stabilizing ...we are going to see how this month ends so far
bi
Como Perrie 12:05 GMT February 6, 2009
Reply
also ref NFPs is rather double sided, It might also come somehow in line and nothing serius to happen, even if the number is record negative. As per historic reference numbers of below 0 to -200k were already the beggining of crashes, but nowadays thing changed and so we have to adapt.
so far if looking at the recent past if equities rise generally the usdindex must fall. yen apart as per the carry trade factor...but this is a larger view not appliable to daily trading.
Como Perrie 11:57 GMT February 6, 2009
Reply
WASHINGTON – Long-term sea level increases that could have a devastating effect on southern Florida and highly populated coastal areas may be even larger than once thought, a report suggests.
http://news.yahoo.com/s/ap/20090205/ap_on_sc/sci_sea_level_rise_4
PS NFPs I have no clue short term, as seen per ADPs It shows the path of negative growth established. Some say GDP might fall at least 5 pct in US in the upcoming coupla years, maybe sooner.
The Job loss is tremendous and this is rather contracting.
But still in the coming weeks there might be some new economic plans that might provide at least some normalisation of markets - equities in particular.
have a nice w/e
PAR 11:54 GMT February 6, 2009
Reply
The Bush administration overpaid tens of billions of dollars for stocks and other assets in its massive bailout last year of Wall Street banks and financial institutions, a new study by a government watchdog says.
The Congressional Oversight Panel, in a report released Friday, said last year's overpayments amounted to a taxpayer-financed $78 billion subsidy of the firms.
The findings added to the frustrations of lawmakers already wary of the $700 billion rescue plan, known as the Troubled Asset Relief Program. Congress approved the plan last fall, but members of both parties criticized spending decisions by the Bush administration and former Treasury Secretary Henry Paulson.
Financially ailing insurance giant American International Group, deemed by the Treasury Department to be too big to be allowed to fail, received $40 billion from the Treasury for assets valued at $14.8 billion, the oversight panel found.
Netherlands Bob 11:05 GMT February 6, 2009
Reply
good day ... please share your view for the coming data and for possible market reaction is case the data comes out with $ handle ... tia and good trades
Como Perrie 11:00 GMT February 6, 2009
:) Ive seen a chicago floor trader by year end.. he took a month and a half off as losses were the daily dose for anyone last fall...
just to bring an idea we talk of single desks of market makers loosing 600 mios just in one morning, and this was going on for months ...so make some counts how many of those are there... but It ever was..... you can't ever win, this is absurd thinking of those buy and holders that bought stupid papers in the decade behind...so the cultprit is the exagerated hedonistic model... all rich with nothing is too easy for anyone upon this world imvho
some have also claims they never lost and things of sort...do not trust such disturbed minds :))
Como Perrie 10:56 GMT February 6, 2009
Reply
fwiw earlier was saw sizeable bids upon contis from asean CBs... as the usd is still mixed here... see the usd index looks overdone onto upside too
PAR 10:50 GMT February 6, 2009
Reply
FEBRUARY 6, 2009 Deutsche Bank Fallen Trader Left Behind $1.8 Billion Hole
The fall of Boaz Weinstein, once one of Wall Street's hottest traders, speaks volumes about why financial firms still are reeling from the shattered global markets.
As a chess master, poker and blackjack devotee and top trader at Deutsche Bank AG, Mr. Weinstein made big bets using complex financial instruments, generating large returns for the bank and about $40 million in annual pay for himself. But in 2008 the group he ran saddled the bank with $1.8 billion in losses, erasing more than two years of trading gains.
KL MY 10:45 GMT February 6, 2009
Reply
Sell
Entry: Target: Stop:
any idea with UsdChf and usdCad?
im selling both pair
Bilad KaL 10:30 GMT February 6, 2009
GBPJPY shorts are on way
Monthly 134.34 122.60
Weekly 130.89 125.08
Daily 134.27 131.77
Recommended range 137.77 116.99
CABLE expected
Monthly 1.48040 1.38003
Weekly 1.45450 1.40819
Daily 1.47673 1.45543
Syd 09:59 GMT February 6, 2009
Reply
Tony Dolphin, senior economist at the Institute for Public Policy Research, said interest rate cuts may have "reached the limits of their effectiveness" and that it was now time to turn to quantitative easing, where the Bank would increase the money supply by buying up assets like corporate bonds to increase the flow of lending.
Syd 09:54 GMT February 6, 2009
Reply
UK interest rates cut to new low of 1pc
The Bank of England's Monetary Policy Committee slashed interest rates by half a percentage point to a new historic low of 1pc yesterday as it continued to fight the deepest UK recession since the 1980s.
http://www.telegraph.co.uk/finance/economics/
interestrates/4528227/UK-interest-rates-cut-to-
new-low-of-1pc.html
AMS MAXXIM 09:53 GMT February 6, 2009
NET 2.13738% WEEK Drawdown: (0.33%)
Lahore FM 09:48 GMT February 6, 2009
02/05/2009 19:07:10 FM Lahore 15
dow,jpy crosses and carry crosses all ready to go through the top.
time for a break!
--------
carry remains the lavour of the day..mre to come!!
----------------
Geneva DS thanx for providing the counterweight on the eurchf view!!
YVR MAXXIM 09:40 GMT February 6, 2009
FWIW HORLODGE IT
2009.02.05 11:21 sell 2.00 gbpusd 1.4651 0.0000 1.4551 2009.02.06 04:35 1.4665 0.00 0.00 -52.62 -280.00
2009.02.06 03:18 sell 2.00 gbpusd 1.4735 0.0000 0.0000 2009.02.06 04:36 1.4663 0.00 0.00 0.00 1 440.00
Lahore FM 09:40 GMT February 6, 2009
Buy eurchf
Entry: Target: Stop:
eurchf .. all dips to 1.4850/1.4900 may be bought into for 1.5800.
Lahore FM 09:38 GMT February 6, 2009
Buy eurchf
Entry: Target: Stop:
by friday the 13th feb we might be well on our way to 1.58 revisit on eurchf Caba.
Lahore FM 09:35 GMT February 6, 2009
02/05/2009 22:23:04 FM Lahore 9
entered long usdcad 1.2328.looking for 1.2600 and up.
--
half closed at 1.2406,stops to 1.2230 for rest.
Lahore FM 09:34 GMT February 6, 2009
02/05/2009 22:19:05 FM Lahore 9
Canada Fin Min Flaherty: Unemployment numbers due Friday will be 'regrettable', risk is that recession could become worse
--
thanx Syd,small long eurcad entered 1.5763.
--
half out at 1.5882.stops to 1.5680 on this small 1/2 remainder.
Lahore FM 09:31 GMT February 6, 2009
02/05/2009 22:57:14 caba philadelphia 4
FM, can you share view on chf (usd/chf & eur/chf) after today's comments from SNB Hildebrand, pls? thanks.
..also DS, what about your view on eur/chf..? still your 'a few weeks target'? thanks.
--
bullish on eurchf and bullish to sideways on usdchf Caba.
Lahore FM 09:29 GMT February 6, 2009
Lahore FM 08:00 GMT February 6, 2009
Trade Ideas: Reply
final long eurgbp 0.8666,stops at 0.8605.
--
half out at 0.8726 now.stops remain.
Syd 09:27 GMT February 6, 2009
Reply
CREDIT TIGHENED IN Q4 AND LOAN DEMAND FELL CONSIDERABLY; BANKS SEES SIGNIFICANT DECLINE IN NET TIGHTENING IN Q1
- ECB expects access to medium and long-term funding to be subdued in upcoming months
- Weak economy and negative industry outlook prompted tougher lending standards
Sandton RSA 09:26 GMT February 6, 2009
Double dealing Diablo's?
Sadton RSA 09:24 GMT February 6, 2009
Give the sell signal Maxx.
When will we see....RSA MAXX?
Go well Maxx.
AMS MAXXIM 09:15 GMT February 6, 2009
LUCIFERS
AMS MAXXIM 09:13 GMT February 6, 2009
Reply
SHELL RIVONIA Sandton
Syd 08:57 GMT February 6, 2009
Reply
HK RF@ 08:50 Hi, yes I thought it a little long but was as you say, quite informative
HK RF@ 08:50 GMT February 6, 2009
Reply
Syd 08:20 GMT February 6, 2009
Very informative post, and all traders should take note.
Thanks
Syd 08:20 GMT February 6, 2009
Reply
LONDON (Dow Jones)--There's an Eastern time bomb waiting for the euro. The market's focus this week may well have concentrated on the European Central Bank's latest policy meeting and hopes that euro-zone rates will be coming down again. However, policy decisions within the euro zone could well be overshadowed by developments in Central and Eastern Europe, as both their economies and currencies continue to deteriorate. Not only is the single currency exposed via the close trade and banking links with the region, but also through the probable currency and reserve management some of these countries could now face. There's little new in market concerns over the former Soviet satellites. High global risk aversion has meant investor appetite for emerging market assets as a whole has been on the wane. Russia in particular has suffered, with its economy turning into a steep dive and its currency - the ruble - having to be supported by a $210 billion intervention campaign over the last six months.
As Simon Derrick, a senior currency strategist at Bank of New York Mellon in London, said, the Russian central bank is now "looking caught between the devil and the deep blue sea." Defending the ruble with more intervention risks a further downgrade, but a hike in rates to make the currency more attractive will be viewed as unsustainable and bring even further selling pressure. "All this suggests that investors in Russia will continue to head for the exit door," warned Derrick. And, to make matters worse for the euro, Russia's problems are spreading as international investors become even more wary of the region. An announcement in the middle of the week from Kazakhstan that it was devaluing the tenge by about 20% because of falling oil prices and the economic slowdown sent ripples through financial markets, with other Eastern European currencies such as the Czech koruna and the Hungarian forint coming under heavy selling pressure.
This downward trend poses a major problem for euro-zone banks, who are most vulnerable to the declining economies of Central and Eastern Europe. According to the currency strategist team at Commerzbank, Austria, Germany and Italy are the largest lenders to the region, with total loan exposure amounting to $1.2 trillion. If nothing else, the banks in these countries will be keen to reduce their international exposure, especially if they face increased government control and the need to promote domestic lending because of the credit crunch. But apart from that, the euro could also be at risk from the much more direct threat that current intervention poses. As Bank of New York's Derrick pointed out, Russian intervention involved buying the ruble and selling the dollar, thereby lowering the dollar weighting of its reserves. Correcting that weighting will involve selling other currencies used for reserve, such as the euro and the pound. Early Friday in Europe, the ECB's decision to leave rates unchanged and just hint at another cut next month continued to undermine the euro. The fact that financial markets are nervous ahead of the release of the latest non-farm payrolls figures from the U.S. didn't help. Although hopes that a U.S. 'bad bank' will soon be unveiled helped to lift sentiment and equities in the U.S. and Asia, risk aversion was once again on the rise as European trading got underway.
Amsterdam Bobsy 08:07 GMT February 6, 2009
Reply
Hillegom Purk 07:28 GMT February 6, 2009
Purky....Purky.. very colorful terms ...up and down ...higher and higher ....deeper and deeper...going down....all these terms ....has alicia been teaching you forex at the supermarket.......
Syd 08:06 GMT February 6, 2009
Reply
Euro vs US Dollar Dealers eyeing key trendline support at 1.2720 area
- The trend line represents the lows in EUR/USD pair back in Mid to late November period
***Reminder: Dealers noted some significant option barriers below the 1.23 level and added that it usually 'acts as a magnet' for price action
PAR 08:04 GMT February 6, 2009
Reply
Watchdog: Treasury overpaid for bank stocks
2 hours, 46 minutes ago
By JIM KUHNHENN
Associated Press Writer
(AP:` WASHINGTON) A government watchdog has concluded that the federal government gave financial institutions a $78 billion subsidy last year by overpaying for stocks and other assets as part of its massive Wall Street rescue program.
In a report scheduled for release Friday, the Congressional Oversight Panel for the bailout funds found that in some cases the government paid dramatically more than the actual value of the stocks at the time of the transactions.
Financially ailing insurance giant American International Group, deemed by the Treasury Department to be too big to be allowed to fail, received $40 billion from the Treasury for assets valued at $14.8 billion, the oversight panel found.
The findings added to the frustrations of lawmakers already wary of the $700 billion rescue plan, known as the Troubled Asset Relief Program. Congress approved the plan last fall, but members of both parties criticized spending decisions by the Bush administration and former Treasury Secretary Henry Paulson
Lahore FM 08:00 GMT February 6, 2009
final long eurgbp 0.8666,stops at 0.8605.
Amman wfakhoury 07:51 GMT February 6, 2009
Reply
Amman wfakhoury 16:11 GMT February 5, 2009
eur.gbp: Reply
Dubai Tony 16:02 GMT February 5, 2009
===============================
in downtrend ..sell around 8800 tp 8730.
sell another at 8870 if rise exit all around 8800,
stops 8900
-----
well done
Hillegom Purk 07:28 GMT February 6, 2009
8693 in. Glory or nothing it is. Keep some for lower and lower and lower and higher and higher.
US SW 07:08 GMT February 6, 2009
Reply
Sell
Entry: EURGBP Target: 8600 Stop: NONEED
see ya at 86
Shanghai Rex 06:41 GMT February 6, 2009
Reply
usd
Entry: Target: Stop:
EUR/USD：
Sell break at 1.2700ï¼›Sell a failure at 1.2800ï¼› Buy a bounce at 1.2700ï¼›
GBP/USD：
Buy a bounce at 1.4580ï¼›Buy a bounce at 1.4500ï¼›Buy break at 1.4700
Brisbane 06:18 GMT February 6, 2009
Gold Coast Martin 05:10 GMT February 6, 2009
Any view on UBS ?
TIA
Belgrade Knez 05:31 GMT February 6, 2009
Reply
Shanghai bc
Could you please share your view with us.
Thank you in advance.
HK RF@ 05:28 GMT February 6, 2009
Reply
Tech. it is possible for the USD/CHF to move to [1.1850,1.1900] range within days, but I am afraid to say, that too many traders took a ride on the SF-devaluation-tail of the SNB, so I think it will not be not too easy for the bank to carry all those parasites to a lower CHF-value by this day.
GL/GT
Sandton RSA 05:23 GMT February 6, 2009
YVR MAXXIM 04:35 GMT February 6, 2009
Maxx please to try the supermarkets in Vladivostok, where the ladies at the check-out points are younger, prettier and charge less, pound for pound, for the same merchandise, compared to AMS, where you must stand in the queue behind Mr Purk.
I will be dissapointed if GBP does not buy $1.4820 in the supermarket today.
GL
Gold Coast Martin 05:10 GMT February 6, 2009
Reply
DB stock was a sell from November and still will beas all other german stocks and equities, until it becomes nationalised. g/t to all on this side of the pond..
Vladivostok Martin 08:14 GMT November 24, 2008
DB: Reply
FWIW..The bank that embarked on a leveraging voyage and is the most over leveraged of the EU banks is DB...with all the citi stuff going on, this bank will not hide in a hole hoping everything will fix itself....In the US there is a fix called THE FED, ...in the EU there is no fix...stay tuned....looking for the overpriced EU stocks and equities to start taking bigger hits right up to the end of the year as a result of " forced tranparancy" by the EU banks...with particular emphasis on German stock and equities market.....g/t to all...
Cbj Jake 04:43 GMT February 6, 2009
Reply
Boaz Weinstein, Deuche "hot trader", lost 1.8 billion. That is 2yrs of profits. Imagine what he was trading/smoking.
AMS MAXXIM 04:41 GMT February 6, 2009
FEUD DO.ORG
Amsterdam Bobsy 04:41 GMT February 6, 2009
Reply
YVR MAXXIM 04:35 GMT February 6, 2009
Maxxim here is something you understand: gbp/usd sell= profit=more to spend at Amstserdam supermarket.
YVR MAXXIM 04:35 GMT February 6, 2009
Sell
Entry: Target: Stop:
1.4533 50% fib d'accord
Amman wfakhoury 04:28 GMT February 6, 2009
Reply
Amman wfakhoury 20:32 GMT February 5, 2009
new exit: Reply
we can re sell here around 14640 and repeat the above signal
------
exit the second sell entry around 14600.
----exited 14600...well done.
Hong Kong Qindex 04:19 GMT February 6, 2009
Major
Entry: Target: Stop:
Either side of the range will be hit by the market within one to three months.
USD/JPY : 87.59 - 94.41
EUR/USD : 1.1852 - 1.3168
GBP/USD : 1.3193 - 1.5327
USD/CHF : 1.0939 - 1.1974
AUD/USD : 0.5674 - 0.6774
USD/CAD : 1.2000 - 1.2818
All these are reference numbers in my system. One can divide the above ranges into four divisons and you will get some significant numbers.
USD/JPY : 87.59 - 89.30 - 91.00 - 92.71 - 94.41
EUR/USD : 1.1852 - 1.2181 - 1.2510 - 1.2839 - 1.3168
GBP/USD : 1.3193 - 1.3727 - 1.4260 - 1.4794 - 1.5327
USD/CHF : 1.0939 - 1.1198 - 1.1457 - 1.1715 - 1.1974
AUD/USD : 0.5674 - 0.5949 - 0.6224 - 0.6499 - 0.6774
USD/CAD : 1.2000 - 1.2205 - 1.2409 - 1.2614 - 1.2818
Syd 04:16 GMT February 6, 2009
Reply
ANZ doesn't change its outlook for AUD/USD to track around 0.5400 by year end, but says risk of softer commodity prices could prompt another leg lower, while prospect that RBA cuts less than expected in coming months adds upside to forecast; expects 0.5800-0.6600 range next 3 months, 0.5300-0.6600 next 6 months. Last at 0.6516. Pegs AUD/EUR at 0.4200-0.5500 next 6 months
Syd 03:58 GMT February 6, 2009
Reply
The Reserve Board has left itself ``plenty of scope to cut rates further,'' said ANZ economist Katie Dean, adding "They're deliberately being non-committal about the extent of the rate cuts.""They're obviously responding to events as they arrive so they need to give themselves as much flexibility as possible,'' said Ms Dean.Traders interpreted the statement to imply a smaller cut in March when the RBA board is next scheduled to meet.The RBA flagged more lay offs in the coming year, echoing comments by the Government and private forecasters. "Despite the significant stimulus already provided by monetary and fiscal policy, the unemployment rate is forecast to increase materially over the next year or so," the RBA said, without specifying an estimate. RBA expects the labour market will suffer.
"With job vacancies and hiring intentions falling and short term economic prospects subdued, more significant rises in unemployment are likely in the period ahead,'' it said.
Syd 02:55 GMT February 6, 2009
Reply
PM Rudd: Liberal party standing in way of stimulus plan
- Note: During the prior session, it was reported that Australia parliament's upper house planned to hold an inquiry about the stimulus plan, which would delay the approval of the measure.
- Follow Up as of 9:46 PM: Australia's Treasury Swan said that jobs depend on speedy passage of stimulus (similar comments to those in prior session)
Australia's Swan:No Certainty Minor Parties Will OK Stimulus
Syd 02:46 GMT February 6, 2009
Reply
Australia's PM and Treasurer to hold Press Conference at 10:15pmET
US SW 01:54 GMT February 6, 2009
Reply
Buy
Entry: GBPCHF Target: 17370 Stop: 17260
SHORT SQUEEZE
Gen dk 01:32 GMT February 6, 2009
Reply
Trading Signals Updated:
CLICK HERE for more Gen dk information
Syd 01:08 GMT February 6, 2009
Reply
RBA are bracing for "at least" one quarter of negative growth, but are still running risk of being too optimistic with forecasts, says ANZ economist Katie Dean. "The outlook for the economy to start to recover in the second half (of) 2009 might be a little optimistic at this stage." Says non farm GDP forecast clearly signals at least one quarter of contraction in near term. Still, says days of chunky rate cuts are over. "Unless something calamitous happens offshore or indeed domestically, we will get a more measured pace of easing."
S&P notes that in Nov arrears on residential mortgage loans underlying Australian prime residential mortgage-backed securities rose to 1.70% from 1.58% m/m
The November arrears data reveals that an increasing number of prime borrowers are experiencing some degree of mortgage stress, with more than A$842 million of all prime loans reported as being in arrears greater than 90 days.
Syd 01:01 GMT February 6, 2009
Reply
nj jf 00:50 GMT always appreciated :-))
nj jf 00:50 GMT February 6, 2009
thanks syd.. well done with that... I hope I can give you some during our day here in gvi.
Syd 00:45 GMT February 6, 2009
Reply
Japan's Fin Min Nakagawa: Govt is not considering printing more yen
- The Finance Min was responding to a FT report that said Japan's ruling party would propose printing ¥50T to be used for stimulating the economy.
S&P Report Says Australian Prime RMBS Arrears Rose Further
*DJ RBA: Raises 2Q 2011 GDP Growth Forecast To 3.25% On Yr Vs 3%
RBA: Lowers 2Q 2010 GDP Growth Forecast To 1.25% On Yr Vs 2%
RBA:Lowers 4Q 2009 GDP Growth Forecast To 0.5% On Yr Vs 1.75%
RBA:Lowers 2Q 2009 Non-Farm GDP Forecast To 0% Vs +1.0%
RBA:Lowers 2Q 2009 GDP Growth Forecast To 0.25% On Yr Vs 1.5%
Syd 00:37 GMT February 6, 2009
Reply
RBA Slashes Growth Outlook, Stimulus Cushioning Econ
RBA: Australia's Inflation Rate Likely To Keep Falling
RBA: 20% A$ Drop In Past Year Damped Impact Of Global Slump
RBA: Significant Fall In Businesses' Investment Intentions
NEWS Corporation chairman Rupert Murdoch today said the economic crisis was the worst he has known as the group reduced its annual earnings forecasts and booked $US8.4 billion in non-cash writedowns
Syd 00:23 GMT February 6, 2009
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IN the middle of what he describes as the worst economic crisis since the Depression, Prime Minister Kevin Rudd has decided to launch a divisive personal crusade against so-called "neo-liberalism". Rather than economic solutions, Rudd is seeking ideological retribution.LINK
Brisbane 00:21 GMT February 6, 2009
How much in Geneva so we can see what to expect with CHF.
t.i.a.
Syd 00:11 GMT February 6, 2009
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Germany's biggest lender, Deutsche Bank, on Thursday posted its first annual loss since World War II after a terrible fourth quarter but said it would survive the global meltdown without state aid.
Auto Suppliers Face March 1 'Cash Crisis' - Trade Grp
Hundreds of U.S. auto suppliers are in danger of running out of cash by March 1, when they will begin to sustain losses caused by production slowdowns in December and January, according to a trade group representing 400 parts makers.
In making a case for $25.5 billion in federal aid for the reeling supplier industry, the Motor & Equipment Manufacturers Association said parts makers face an imminent "cash crisis" without government aid.
Australia's Stimulus Package
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