la la 23:58 GMT April 12, 2011
Tku I show 1.4580 after 1.4520
GVI Forex john 23:57 GMT April 12, 2011
-- ALERT --
Japan March CGPI
mm: +0.6% vs. +0.4% exp. vs.+0.2%
yy: +2.0% vs. +1.9% exp. vs.+1.7%
TTN: Live News Special Offer
HK RF@ 23:53 GMT April 12, 2011
Reply
la la
You may find a close number to 1.4530 (1.4539 Res. 3)
on GVI Forex john 21:36 GMT April 12, 2011
HK RF@ 23:47 GMT April 12, 2011
la la 23:34 GMT April 12, 2011
1.4530 is a target price, which usually forms a significant resistance at the first time when reached.
From there prices may begin to turn away if that target Res. holds, or another attempt may breach that level for a next Res.
Same like 1.4530, if breached, on the USDX 74.16 serve with the same meaning.
la la 23:34 GMT April 12, 2011
What is the significance of 1.4530?
HK RF@ 23:29 GMT April 12, 2011
Reply
The focus is again on 1.4530.
A breach of this level will turn it into a support on the way to a Euro rate when USDX will become 74.17.
Denver WG 23:14 GMT April 12, 2011
I think alot of us are looking for a trade call
(a lurker)
GVI Forex john 22:07 GMT April 12, 2011
-
Markets
mostly in a "risk-off" frame of mind Tuesday but it did
not follow through. Oil and gold ending weaker
-
One
trigger was Tokyo admission Fukushima nuclear disaster on a par with
Chernobyl. Not a new development, but the crisis is not over.
-
Markets
will be watching future developments closely. JPY demand for
reconstruction. Also JPY demand as carry trades unwind.
-
Dudley
comments dovish. No Fed tightening in sight.
-
EURUSD
remains the focus of trade. German ZEW survey today mixed
-
Cooler
U.K. inflation data today final nail in the coffin for a May rate
hike?
-
Active
data session again in store for Wednesday.
GVI Forex john 22:06 GMT April 12, 2011
Reply
Market Chatter thread for Wednesday April 13, 2011.
dc CB 21:43 GMT April 12, 2011
Reply
America has two national budgets, one official, one unofficial. The official budget is public record and hotly debated: Money comes in as taxes and goes out as jet fighters, DEA agents, wheat subsidies and Medicare, plus pensions and bennies for that great untamed socialist menace called a unionized public-sector workforce that Republicans are always complaining about. According to popular legend, we're broke and in so much debt that 40 years from now our granddaughters will still be hooking on weekends to pay the medical bills of this year's retirees from the IRS, the SEC and the Department of Energy.
Most Americans know about that budget. What they don't know is that there is another budget of roughly equal heft, traditionally maintained in complete secrecy. After the financial crash of 2008, it grew to monstrous dimensions, as the government attempted to unfreeze the credit markets by handing out trillions to banks and hedge funds. And thanks to a whole galaxy of obscure, acronym-laden bailout programs, it eventually rivaled the "official" budget in size — a huge roaring river of cash flowing out of the Federal Reserve to destinations neither chosen by the president nor reviewed by Congress, but instead handed out by fiat by unelected Fed officials using a seemingly nonsensical and apparently unknowable methodology.
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?
GVI Forex john 21:36 GMT April 12, 2011
USD PIVOT POINTS
Entry: Target: Stop:
Pivots EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD
Res 3 1.4539 85.73 0.9164 1.6528 0.9616 1.0654
Res 2 1.4511 85.45 0.9136 1.6477 0.9596 1.0617
Res 1 1.4472 85.04 0.9098 1.6413 0.9579 1.0556
Pivot 1.4444 84.76 0.9070 1.6362 0.9559 1.0519
Sup 1 1.4405 84.35 0.9032 1.6298 0.9542 1.0458
Sup 2 1.4377 84.07 0.9004 1.6247 0.9522 1.0421
Sup 3 1.4338 83.66 0.8966 1.6183 0.9505 1.0360
GVI Forex john 20:39 GMT April 12, 2011
USD MOVING AVERAGES
Entry: Target: Stop:
4/12/11 20:00 GMT
Latest EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD
Last 1.4433 84.62 0.9060 1.6349 0.9561 1.0495
High 1.4483 85.18 0.9108 1.6426 0.9577 1.0580
Low 1.4416 84.49 0.9042 1.6311 0.9540 1.0482
Change 0.0000 0.00 0.0000 0.0000 0.0000 0.0000
MVA EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD
5 day 1.4389 84.88 0.9112 1.6340 0.9575 1.0482
10 day 1.4294 84.33 0.9163 1.6236 0.9623 1.0416
20 day 1.4199 82.61 0.9128 1.6190 0.9717 1.0254
50 day 1.3927 82.51 0.9302 1.6167 0.9779 1.0155
100 day 1.3612 82.75 0.9478 1.5930 0.9901 1.0043
200 day 1.3451 83.52 0.9782 1.5807 1.0097 0.9713
TREND EURUSD USDJPY USDCHF GBPUSD USDCAD AUDUSD
BIAS Up Up Down Up Down Up
GVI Forex Blog 20:33 GMT April 12, 2011
Reply
The yen and Swiss franc gained sharply on Tuesday on risk aversion partly brought on by fears of a worsening nuclear situation in Japan, but the sentiment may prove transitory given expectations investors' appetite for higher-yielding currencies should return.
FOREX NEWS - Yen, Swiss franc rally on safety; euro hits 15-mo high
Mtl JP 20:32 GMT April 12, 2011
It is a mindboggling contrast that workers (i.e people) are willing to go into the radioactive cesspool at entire risk of demise to their life while politicians and CEO's are playing dumb, stupid and any other adjective except responsible in front of cameras and micropohones.
maybe it is both a strenght - at times for the society at large - and a weakness - for the occasionally sacrifical heroic and patriotic individuals - of the japanese hierchicaly structered society...
Syd 20:22 GMT April 12, 2011
Reply
Talk from the City: Schneider Electric rumoured to have made $30bn takeover approach for Tyco
Shares in Tyco, the US industrial conglomerate, are in demand again - they are up about 3.5pc on the day - amid chatter Schneider, the French engineering giant, has already sent a letter to US's company's board outlining its interest in buying the business. LINK
Europe’s most-indebted countries will probably need to restructure their borrowings as bailouts fail to solve their fundamental challenges, Pacific Investment Management Co.’s Neel Kashkari said.
Greece, Ireland, Portugal Will Likely Restructure, Pimco's Kashkari Says
GVI Forex Blog 20:17 GMT April 12, 2011
Reply
AUD/USD and NZD/USD outlook next 24 hours: The pullback in AUD yesterday reached Jun-10 trend support at 1.0400 which is today's support and target level. NZD formed a bullish outside day which argues for higher still, although an overbought condition and weaker commodities and equities temper our enthusiasm. Event risk today includes Australian consumer confidence and NZ house sales, food prices, and migration.
Forex - Morning Report (Westpac)
Hillegom Purk 20:13 GMT April 12, 2011
MANCHESTER-CHELSEA Joe.....
Thank you, carry on.... hehehehehe.
Lahore FM 20:13 GMT April 12, 2011
Reply
chfjpy seems to have printed significant high and top both today...imho!
Belgrade TD 20:12 GMT April 12, 2011
Sell EURUSD
Entry: 1.4475 Target: later Stop: ~1.453
Short here
GVI Forex john 20:00 GMT April 12, 2011
UPDATED. Global-View Free FX Database. High-Low-Close data for over a dozen currency pairs for well over a decade of data in Excel spreadsheet format.
Cambridge Joe 19:56 GMT April 12, 2011
Thanks Purk, you made me smile... !
Match ?? For my sins.... I hate football.... my sons never let me forget it either.....
Unless of course it's England Vs,. Germany..... Ahh... what am I saying ??!!
Hillegom Purk 19:52 GMT April 12, 2011
Joe, that was a good thing to say. At first i did not have a clue what you where referring at, but than i saw it.
You must be a nice man, hats off.
You watching the match tonight?
Cambridge Joe 19:34 GMT April 12, 2011
Reply
KaL// if you are about, I;m seeing possibilities of heavy south for EURUSD.... now @ 1.4475.
How do you see it pls?
TIA.
Cambridge Joe 19:27 GMT April 12, 2011
Reply
Berlin lh 16:44 GMT April 12, 2011
Sorry you got a slap lh and trust that you will not feel discouraged from posting again.
Your post was interesting and pertinent.
dc CB 19:25 GMT April 12, 2011
May corn futures fell 23.5 cents (or -3.0%) to $7.525/bu,
May wheat fell 38.75 cents (or 5.4%) to close at $7.59,
May soybeans fell 38.75 cents to close at $13.30
May Crude now down $4+
dc CB 18:55 GMT April 12, 2011
not too shabby for one day's worth of fear and GS sell calls.
dc CB 18:07 GMT April 12, 2011
Reply
like Carl Sagan says: billions and billions
New Schedule expect $7bln or so tomorrow....stox already rising
NYFed POMO
Porto Cubriclas 18:07 GMT April 12, 2011
"A group of 50 economists and lawyers are apply for a court injunction at the Karlsruhe constitutional court against the rescue program for Portugal"
Those 50 germans forget that Germany invaded nations, killed people and destroyed economies during the second world war...
gt & gl
Berlin lh 16:44 GMT April 12, 2011
Reply
According to Reuters, Merkel is not prepared to invest political capital in supporting a German candidate;
Draghi is now considered the only credible candidate;
pressure for a Greek debt restructuring is growing, but officials insist on a voluntary scheme;
Papademos rules out a haircut, but not a maturity transformation;
Patrick Honohan says there will be no medium-term liquidity facility for Irish banks for the foreseeable future;
ECB and IMF descend on Lisbon for bailout negotiations;
the IMF warns the ECB against further interest rate increases;
the OECD recommends that France should raise taxes to reduce the deficit;
Germany will have a deficit of 2.5% this year, but the off-balance sheet bank rescues will push debt-to-GDP to 82%;
Bundesbank is open to capital controls as a last line of defence;
a bunch of German economists, meanwhile, are applying for a constitutional court injunction against looming Portuguese rescue package.
A Karlsruhe court case against the rescue of Portugal
A group of 50 economists and lawyers are apply for a court injunction at the Karlsruhe constitutional court against the rescue program for Portugal, Börsenzeitung writes. According to law professor Markus Kerber of Berlin, who is acting on behalf of the group, the rescue program contains irreversible inconveniences for Germany. Should there be no injunction Germany would lose its fiscal sovereignty, Kerber argues. The group has already introduced a court case against the rescue package of May 2010. It now argues that the measures decided in May 2010 have not managed to calm the markets and to reduce the spreads in interest rates. Kerber also argues that the court does not have any basis to rule at a later stage if the biggest chunk of the money for the countries that are being rescued has already been paid out.
Quito Valdez 16:32 GMT April 12, 2011
Reply
TP'D CHF/JPY short 93.411 @ 93.374 because I'm getting tired of playing with this silly Yen today. Patience wearing thin so cut off trading til attitude improves. GL GT all. The only thing that really could supprt yen right now is repat of yen from other cncys by insurance companies anticipating a more grave claim pile from evacuated areas affected by the reactor, business and private employment insurance (out of business - file a claim).
If this is the case then after the repat of Yen is done or when it takes a lull it tanks unless artificially supported again by central banks of G7 or G10ish or monitary funds etc.
GVI Forex Jay 16:10 GMT April 12, 2011
Reply
We have made a modification to the share feature we recently added below forum posts to make it easy to share posts of interest with your friends, colleagues and lists. Please give it a try - you will find it very user friendly.
Our goal is to expand our community, which benefits us but benefits you as well as the more participation we have the better for all of us. So please use the Share feature to pass on any posts you find would be of interest to others.
Lahore FM 16:04 GMT April 12, 2011
SGFX your post belongs to Open Forum.
nsm this post also belongs to Open Forum.
nairobi nsm 15:53 GMT April 12, 2011
Singapore SGFXTrader 16:01 GMT April 12, 2011
Reply
Dear fellow GV members,
can i seek your help in understanding the market rate for charging commission for helping someone to trade FX.
I am very consistent in pips making and has good track record. someone offer to put in a large fund and ask for my service.
How many percent of the profit should i take if i opt for commission based renumeration model rather than fixed salary?
Can anyone share with me, thanks in advance
Cheers
dc CB 16:00 GMT April 12, 2011
Reply
Goldman Sachs Group Inc. (GS) was sued by two co-founders of Marvell Technology Group Ltd. (MRVL) who allege the investment bank tricked them into selling company shares by claiming the sale was needed to cover a margin loan.
Sehat Sutardja, Marvell’s chief executive officer, and Weili Dai, the company’s former chief operating officer, said they were duped into selling shares in 2008 that are now worth $141.5 million, according to a complaint filed yesterday in state court in San Francisco. Goldman Sachs pressured them by claiming a regulatory rule, which didn’t exist, required them to sell their stock, according to the complaint. Goldman Sachs held millions of shares of Marvell stock in 2008, they said.
“Goldman forced its clients to unnecessarily liquidate their holdings through forced margin calls, only to repurchase these same shareholdings for accounts owned by Goldman and its related hedge funds,” according to the complaint. ...........................
Marvell, the maker of processors for the BlackBerry phone, is based in Santa Clara, California.
Bloomberg
nairobi nsm 15:53 GMT April 12, 2011
Reply
Hi pals, any1 know a good reputable a/c manager broker firm out there in the forex/commodity market? GL 2 every1
GVI Forex Blog 15:43 GMT April 12, 2011
Reply
Earnings season has officially begun and investors are heading for the hills, frightened by Alcoa's slight revenue miss and significant follow-through weakness from stock trading in Asia and Europe. Note that shares fell overseas after Japan raised the severity
TradeTheNews.com US Market Update
GVI Forex Jay 15:39 GMT April 12, 2011
We are in a liquidating market today. I wrote this article on trading liquidating markets. Feel free to comment or ask questions.
How to trade a liquidating market
hk ooozmeeh 15:21 GMT April 12, 2011
Buy Gold @ 1447.50...g/l g/t same s/l
London HC 15:15 GMT April 12, 2011
Reply
How short did Goldie go on crude before releasing its call.
dc CB 15:04 GMT April 12, 2011
Reply
While prices are back at levels of spring 2008, supply-demand fundamentals are significantly less tight
The unfolding events in North Africa and the Middle East have pushed up Brent crude oil from $100/bbl in mid-February to over $125/bbl last Friday. These high prices levels invite comparison to the spring of 2008, when crude oil prices first breached these levels in May before peaking at over $145/bbl by early July. We believe that there are fundamental differences between now and the spring of 2008: Both inventories and spare capacity are much higher now and net speculative positions are four times as high as in June 2008.
We expect the oil market will experience a substantial pullback toward our $105/bbl near-term Brent crude oil price target
link
Quito Valdez 14:59 GMT April 12, 2011
Reply
my last long USD/JPY 84.009 stopped at 83.797. Definitely not my day with a fickle yen.
Short CHF/JPY 93.411 sl 93.694 TP 93.017
Playing small possies only for unpredictable nature of things. Was supposed to be earth moving - building small road on my farm today but rains stopped that dead...sea of mud, bored as hades so trying Casino FX while swilling spiced cafe.
dc CB 14:53 GMT April 12, 2011
fyi there is no POMO today...so the usual $7 or so billion that should be hitting the market now ...won't
Lahore FM 14:47 GMT April 12, 2011
Buy EURCAD
Entry: 1.3710 Target: Stop:
Lahore FM 09:27:07 GMT - 04/06/2011
nothing directly for usdcad.have longs eurcad in play and 1.5605 will see long gbpcad trades too.
cad softer against usd and usdcad may not go anywhere really.
--
half closed 1.3978 now.
GVI Forex john 14:46 GMT April 12, 2011
CALENDAR
Entry: Target: Stop:
April 12 (global-view.com) UPCOMING DATA HIGHLIGHTS (high-impact item) for Wednesday, April 13:
- Far East: JP- Corporate Goods Prices (CGPI).
- Europe: GB- Employment. EZ- Industrial Production.
- North America- U.S.- Weekly Mortgage Statistics, Retail Sales, Business Inventories, Weekly Energy, 10-yr
Auction, Beige Book. CA- BOC MPR.
Updated: Trading Events
Calendar
Paris ib 14:28 GMT April 12, 2011
Reply
Looks like a mad scramble out there. Still there are some interesting developments. Expecting to see AUD lower. That's a bit of a crowded trade, though the rush to exit USD keeps holding it on the straight. The crosses are probably an easier place to play.
If this really is THE TURN in stocks then bond markets should do well and that is good for the EURO and peripheral Europe, despite all the doom and gloomers out there.
EUR/USD to test figure and today's highs I would say. Mulling whether just to close up shop for the day and take another look at everything tomorrow.
GVI Forex john 14:28 GMT April 12, 2011
- Flight into U.S. treasuries today on what looks to be a "risk trade unwind". Equities, bonds, etc. lower.
- GBP down EURUSD up.
dc CB 14:22 GMT April 12, 2011
30Y yield
saved by the "Sell"
hk ooozmeeh 14:21 GMT April 12, 2011
Reply
Buy Gold
Entry: 1450.50 Target: 1550.00 Stop: 1438.00
buy gold again @ 1450.50 s/l set at 1438
to dr unken katt 14:18 GMT April 12, 2011
4530 to watch
to dr unken katt 14:16 GMT April 12, 2011
Reply
almost there
dc CB 14:15 GMT April 12, 2011
funny but when the Fed boys and girls say inflation is temp everybody scoffs. But when Government Sachs say's sell everybody does. GS and the other Big Banks must want 4 more years of O(I'm a bought man)bama.
Recall when gas prices were high and Bush was facing reelection, GS reweighted its GSCI- its very own commodity index- with less Gasoline in the weighting...golly all those fund that used the index to weight their portfolios sold Unleaded....golly the price at the pump went down just in time for the fall elections..,.Golly Bush won and named Hank Paulson(then head of GS) as Treas Secy.
Lahore FM 14:14 GMT April 12, 2011
GVI Forex Jay 14:11 GMT April 12, 2011
many thanx Jay!
GVI Forex Jay 14:11 GMT April 12, 2011
Nice trading, timely presented FM
GVI Forex Jay 14:11 GMT April 12, 2011
Nice trading, timely presented FM
Lahore FM 14:10 GMT April 12, 2011
Buy EURGBP
Entry: 0.8741 Target: Stop: entry
Lahore FM 04:46:55 GMT - 04/08/2011
Buy EURGBP
Entry: 0.8741 Target: Stop: 0.8724
Lahore FM 10:53:50 GMT - 04/07/2011
Buy EURGBP
Entry: 0.8741 Target: Stop: 0.8724
long now.
--
half out at 0.8782 now.sl to entry on half.
--
closed rest of it at 0.8890 now for 149+ in all.
Lahore FM 14:08 GMT April 12, 2011
Buy EURUSD
Entry: correction Target: Stop:
Lahore FM 03:26:40 GMT - 04/12/2011
Buy EURUSD
Entry: 1.4394 Target: Stop: 1.4340
bought 1.4396,last long 1.4231 yielded was closed out of last portion at protective sl 1.4390 for net gain of 249+* with highest close for 2nd 1/3rd portion at 1.4480.
Lahore FM 14:05 GMT April 12, 2011
Buy EURUSD
Entry: 1.4396 Target: Stop: 1.4410 for half
Lahore FM 07:57:38 GMT - 04/12/2011
Buy EURUSD
Entry: 1.4396 Target: Stop: 1.4390
Lahore FM 03:26:40 GMT - 04/12/2011
Buy EURUSD
Entry: 1.4394 Target: Stop: 1.4340
bought 1.4396,last long 1.4231 yielded was closed out of last portion at protective sl 1.4390 for net gain of 159+
--
sl raised to 1.4390
--
clsoed half at 1.4488 now.sl raised to 1.4410 on half long.
Boston BR 14:04 GMT April 12, 2011
Mick, someone must have turned on the algo (euro back below 1.45, DJ -90)
Hk RF@ 13:46 GMT April 12, 2011
nyc ws 13:29 GMT April 12, 2011
Thanks for your comment.
USDX drop will lead to higher currencies value on the average compare to the USD which is weakend. Thanks.
London Mick 13:45 GMT April 12, 2011
So much for the eur-equity correlation today.
HK RF@ 13:34 GMT April 12, 2011
USDX is a weighted average of several currencies, which means this average will change with the currencies value.
Possibly not each one of them will change in the average direction.
nyc ws 13:29 GMT April 12, 2011
RF that does not make sense. if USDX is pointed down then why would currencies weaken vs USD?
HK RF@ 13:28 GMT April 12, 2011
Reply
USDX points to lower values, so currencies will weaken relative to the USD. This is the only thing which is giving clear direction for today.
GVI Forex john 13:10 GMT April 12, 2011
- BOC states
"...The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian econom..."
"...Any further reduction in monetary policy stimulus would need to be carefully considered..."
- CAD weaker on the statement.
Bank of Canada Policy Statement
Quito Valdez 13:04 GMT April 12, 2011
Reply
Belarus: terrorist radio controlled bomb hit subway 100 meters from presidential admin bldg (12 dead, 200+ injured). Media blockade in force. Civil unrest high caused by rigged election. Belrus in severe economic crisis, hard currency reserve is critically low. People waiting in daylong lines to exchange r
Rubles for EUR & USD, fearing a likely devaluation of the national currency soon. Dunno if this support is meaningful for EUR, USD. Anyone short Ruble? ;^/
Alexander Klaskovsky, an independent political analyst, said Lukashenko (head poobah considered Europe's last dictator) "... will use it to strengthen his hand ahead of a looming economic catastrophe and social tensions," he told the AP. 700 arrested during protest as dissidents are attacked. Look for more heat coming from that venue, contagen may spread to other middle Europe venues. That is FX relevant.
Fukushima upgraded to level 7 same level as Chernoble. This is definitely Yen negative. Level 7 however doesn't mean Fukushima is = Chernoble, it's far from it yet, but worse than it was last week. Fukushima is lower 7, Chernoble was high 7.
12 April 2022: "The potential for atmospheric release is very large, with 250 tonnes of material sitting in that pond," said Dr Large. If the zirconium alloy sheathing of the fuel rods degrades and if there is not enough cooling it will, a chain reaction will happen. Boom.
Still long USD/JPY although positions neg at the moment. just added long 84.009. If this market sells considering the problems facing Japan when evacuation of Fukushima affected areas takes place then frankly I can't understand it.
What happened to this pair "being on helium"? and comments it was bid? Still waiting....
I also do not understand EUR's strength (but lost this week to CHF).
Ag hit $42. Au still on climb. Both climbing amidst quips about correction. Seems pundits of FX & metals are wrong.
GVI Forex john 13:00 GMT April 12, 2011
-- ALERT --
Canada-- Bank of Canada Decision
Policy unchanged: 1.00% O/N target
TTN: Live News Special Offer
GVI Forex john 12:46 GMT April 12, 2011
- Bank of Canada policy decision up next. No policy change seen.
ldn ct 12:46 GMT April 12, 2011
Third test of 1.45 did the job. It must have been Paris ib
GVI Forex john 12:42 GMT April 12, 2011
Trade gap worse than expected...
Paris ib 12:41 GMT April 12, 2011
Doubt it. Looking for a melt up in the Euro.
HK RF@ 12:41 GMT April 12, 2011
Reply
.
ldn ct 12:37 GMT April 12, 2011
Seller rather than stops at 1.45? We are all looking at the same level now.
GVI Forex john 12:35 GMT April 12, 2011
- U.S. trade gap wider than expected. Recall its a subtraction from GDP.
- Import price up more than expected. A weak USD does not help.
- EURUSD up.
GVI Forex Jay 12:33 GMT April 12, 2011
Talk of a CEE central bank buying Euro vs JPY???
would that make sense???
As posted on
GVI Forex
GVI Forex john 12:32 GMT April 12, 2011
-- ALERT --
U.S./Canada Feb Trade
U.S.: -45.8 b vs. -43.0b exp. vs. -47.0br prev
CDA: +0.030 b vs. +0.55 exp. vs. +0.038b prev
U.S. March Import Prices
mm: +2.7% vs. +1.9% exp. vs. +1.4%
TTN: Live News Special Offer
Paris ib 12:31 GMT April 12, 2011
Starting to look like a rush for the exits. Traders don't really believe this Euro rally. Expect stops above the figure. Looking for new highs for the Euro for the year.
ldn ct 12:24 GMT April 12, 2011
Reply
Was that news or just stops?????? Outside day.
nyc ws 12:14 GMT April 12, 2011
Reply
It feels like an earthquake hit the market overnight and we are walking in to damage control trying to close up the fissures.
Melbourne Qindex 11:39 GMT April 12, 2011
Reply
EUR/GBP : Critical Point 0.8825
The odds are in favor of maintaining a long position when the market is above the weekly cycle pivot center at 0.8825.
Qindex.com
EUR/GBP : Monthly Cycle Charts
GVI Forex john 11:33 GMT April 12, 2011
March NFIB index 91.9 vs. 94.5
- Small business sentiment index turning weaker.
London ex 11:08 GMT April 12, 2011
Reply
It takes a long time to turn around a super tanker but I came across this a shirt while ago.
'final nail in the coffin for May rate hike' Alan Clarke BNP Paribas reacting on air to fall in annual UK CPI to 4% v 4.4% consensus
Also I thought I heard earlier that about the German economy. ZEW said this is as good as it can get.
Bottom line, Im not saying we are at a turn, but I am starting to turn a bit cautious on long EURUSD and GBPUSD.
GBPUSD fell sharply on the CPI data earlier. It bounced back modestly but has now leveled off.
GVI Forex Jay 10:46 GMT April 12, 2011
Reply
10:40 GMT (Global-View.com) April 12 - With risk aversion taking over the question is where does the market seek cover? First hints of it came yesterday when eur/chf turned down. Today you need a scorecard to keep up with the crosscurrents and whipsaw ranges. GBP has turned into the weak link following data while the euro benefited from cross offsets from a firmer eur/gbp.
As for the eur/usd it paused just above its 100 hour mva and trendline (see chart) and then paused on the upside just below this week’s 1.4483 high. Price action suggests 1.45 is going to be a tough level to crack but wide range today (1.4377-1.4480) leaves little to go after on the downside until the day low. So we are back to focusing on 1.4450 as the pivotal level that will set the day tone.
Jay Meisler, co founder, Global-View.com
Home of the original
Forex Forum
Cambridge Joe 10:41 GMT April 12, 2011
KaL// Thank you !!!
Saar KaL 10:38 GMT April 12, 2011
i agree Joe
GBPAUD
Apr-11 1.5349
May-11 1.4959
Jun-11 1.4581
Jul-11 1.4368
Aug-11 1.4324
Sep-11 1.4404
1.5801 1.5338
1.5711 1.5250
1.5819 1.5355
1.5872 1.5407
1.6012 1.5542
1.5795 1.5332
1.5747 1.5285
1.5746 1.5284
Cambridge Joe 10:30 GMT April 12, 2011
KaL// GBPAUD looks like it could be the Mother of all shorts.
How do you see it pls ?
TIA
Jedda SK 10:25 GMT April 12, 2011
Reply
European shares will bite the dust if Japanese and Libyan situations continue to worsen.
Saar KaL 10:18 GMT April 12, 2011
GBPJPY want to crash
GBPJPY
Apr-11 130.8639
May-11 129.7302
Jun-11 128.9778
I am Shorting still
140.3126 136.1961
140.9520 136.8167
140.6354 136.5094
141.6910 137.5340
140.3430 136.2256
137.5914 133.5547
137.4604 133.4276
135.2010 131.2345
EURJPY He aint a Buy
EURJPY
Apr-11 114.6451
May-11 114.7317
Jun-11 114.6670
Jul-11 112.3920
Aug-11 109.3319
shorts and TGTs
123.9183 120.2828
124.6593 121.0020
123.2677 119.6512
124.3375 120.6897
122.4943 118.9005
121.2793 117.7212
Saar KaL 10:06 GMT April 12, 2011
AUDUSD This Month Into Next
very Bullish
Expected Mean Price
AUDUSD
Apr-11 1.0501
May-11 1.0767
Jun-11 1.1044
Jul-11 1.1377
I am Placing all these Longs
with respective Targets
1.0649 1.0337
1.0734 1.0419
1.0624 1.0312
1.0594 1.0283
1.0482 1.0175
1.0516 1.0208
1.0542 1.0233
1.0482 1.0175
GVI Forex john 09:52 GMT April 12, 2011
-
Tokyo admits the Fukushima nuclear
disaster on a par with Chernobyl. Not based on new developments, but
crisis not over.
-
Markets will be watching future
developments closely. JPY negative?
-
Yellen comments
yesterday dovish.
Fed top three (Bernanke, Yellen and Dudley) speak for the Central Bank.
-
EURUSD
remains the focus of trade. German ZEW survey today mixed
-
Cooler
U.K. inflation data today final nail in the coffin for a May rate
hike?
-
Active
data session on Tuesday. BOC rate decision due. Policy seen
unchanged.
Hong Kong 09:38 GMT April 12, 2011
Reply
INTRADAY TRADING SIGNAL BY ACETRADER.COM: AUD/USD
AUD/USD : 1.0470
Last Update At 12 Apr 2011 07:38 GMT
Aud's strg rebound after intra-day selloff to
1.0390 in Asia suggests corrective fall fm Fri's
1.0585 has possibly ended at there n consolidation
with upside bias is seen for gain to 1.0512, how-
ever, break needed to confirm, 1.0539.
Stand aside n look to buy on dips for day trade,
below 1.0438 wud yield re-test of said low.
Range Forecast
1.0455 / 1.0490
Resistance/Support
R: 1.0512/1.0539/1.0585
S: 1.0438/1.0390/1.0366
http://www.acetraderfx.com
Gen dk 09:37 GMT April 12, 2011
Reply
Trading Signals Updated:
CLICK HERE for more Gen dk information
GVI Forex Blog 09:29 GMT April 12, 2011
Reply
Tokyo admits the Fukushima nuclear disaster on a par with Chernobyl. Not based on new developments, but crisis not over.
Markets will be watching future developments closely. JPY negative?
Yellen comments yesterday dovish. Fed top three (Bernanke, Yellen and Dudley) speak for the Central Bank.
Daily Forex View- 10:00 GMT- 12 Apr 11 North America-Europe
GVI Forex john 09:06 GMT April 12, 2011
- German DIW Institute says increasingly likely Greek debt will have to be restructured. IFO made a similar comment yesterday.
Paris ib 09:05 GMT April 12, 2011
All that has happened is that cheap capital is no longer available for Portugal, Greece and Ireland. They now have to access capital markets via the ECB, with a subsequent loss of sovreignty and autonomy in regards to economic policy. I'm not sure that slightly lower borrowing rates are worth the pain of austerity but all the politicians certainly seem to be buying into that plan. Citizens in those countries have been disenfranchised. Nice trick if you can get away with it.
GVI Forex john 09:04 GMT April 12, 2011
- Mixed ZEW survey. Sentiment reading is the more closely followed result.
- Mixed reaction in EURUSD. It dipped and then recovered.
- The ZEW survey is notoriously volatile.
Syd 09:02 GMT April 12, 2011
Reply
German Apr ZEW Econ Expectations 7.6 Vs 14.1 In Mar
GVI Forex john 09:00 GMT April 12, 2011
-- ALERT --
DE April ZEW Survey
Sentiment 7.6 vs. 11.0 exp. vs. 14.1 prev
Conditions: 87.1 vs. 85.2 exp. vs. 85.4 prev
TTN: Live News Special Offer
GVI Forex john 08:48 GMT April 12, 2011
U.K. Inflation data cooler than forecast...
GVI Forex john 08:39 GMT April 12, 2011
- U.K. inflation data generally cooler than expected. Takes a nit of tightening pressure of the BOE.
- GBP weaker in response.
- Some saying initially that the reprieve is only temporary.
GVI Forex john 08:33 GMT April 12, 2011
-- ALERT --
GB Mar CPI/RPIX
CPI:
mm +0.3% vs. 0.6% exp. vs. +0.7% prev
yy: +4.0% vs. 4.4% exp. vs. +4.4% prev
RPIX:
yy: +5.4% vs. 5.5% exp. vs. +5.5% prev
Trade
Non-EU: -2.84b vs. -4.9b exp. vs. -4.21r prev
Trade -6.77vs. -8.1b exp. vs. -7.79r prev
TTN: Live News Special Offer
Paris ib 08:15 GMT April 12, 2011
That article in the FT you quoted by a consistentaly biased journalist who thus far has managed to be wrong on just about everything, including the economic crisis which took place in the U.S., is based on a series of IFs which are basically a joke. His hypothetical scenario is this:
1) the ECB will continue to hike rates over the next year
2) 1 year Euribor rates will push much higher in the next couple of years
3) Spanish property prices will plummet (even though thus far they have not and have performed much better than property prices in the UK and the US) at some point in the next two to three years because mortgage rates are tied to 12 month Euribor. And he is making this prediction based on the assumption that higher 12 months Euribor rates will I presume push the whole Spanish property market into default.
Once all those ducks are lined up, and only ONCE they have actually happened, our little friend at the FT believes that Spain will require a bail out. Give me a break.
This guy entirely missed one of the greatest crises in modern history and is now forecasting out 2-3 years some complicated scenario involving the ECB, short term rates, property prices, banks and country bail outs. Please.
HK RF@ 08:09 GMT April 12, 2011
Reply
.
Lahore FM 07:57 GMT April 12, 2011
Buy EURUSD
Entry: 1.4396 Target: Stop: 1.4390
Lahore FM 03:26:40 GMT - 04/12/2011
Buy EURUSD
Entry: 1.4394 Target: Stop: 1.4340
bought 1.4396,last long 1.4231 yielded was closed out of last portion at protective sl 1.4390 for net gain of 159+
--
sl raised to 1.4390
Syd 07:37 GMT April 12, 2011
Reply
Europe opens to a very different risk landscape after Japan suffered yet another earthquake and raised the Fukushima crisis to level 7 which is as bad as it can get. Elsewhere, the IMF downgraded its US and Australian growth forecast and Goldman Sachs recommended investors take profit on commodity trades. As the markets shifted from risk on to risk off CHF was the big gainer while the USD and JPY were also better bid while the commodity currencies suffered as did sterling after the BRC reported March retail sales fell at their fastest pace in the survey's 16-year history. For Tuesday, the data calendar offers UK CPI, German ZEW and a rate decision from the Bank of Canada.
Syd 07:24 GMT April 12, 2011
Reply
Dollar/yen currency options rose Tuesday as the dollar fell sharply against the yen, with investors taking profits from recent gains in the underlying exchange rate as the nuclear crisis deepens. Growing uncertainty over how fast the dollar-yen could fall prompted investors to buy hedges, particularly short-dated dollar-put/yen-call option contracts, an options dealer at a major Japanese bank said.
The dollar stood at Y83.83 as of 0630 GMT from the Asia morning high of Y84.78. Investors were cued to take profits by a series of aftershocks in Japan and an announcement that the government would raise the Fukushima crisis level on international scale to the same as the 1986 disaster in Chernobyl.
Cambridge Joe 06:48 GMT April 12, 2011
Reply
I used the 'SHARE' function at the foot of GV posts and it works well !
It took a while for the email to arrive... but that is due to the 'net I'm sure !
KaL// beautiful call on Cable and GBPJPY !
Syd 06:26 GMT April 12, 2011
Reply
Chasing sterling higher has become a mug’s game. Unlike the European Central Bank, the Bank of England is not about to rush into an early rate rise.
LINK
Building boom turns to gloom
The building industry is warning up to 2,000 construction jobs may be lost in Tasmania as investors turn away.
Hobart construction company Scenport has just gone into voluntary administration with debts of $3 million to 150 creditors. Thousands of construction jobs are expected to be lost over the next few years.
HK RF@ 06:25 GMT April 12, 2011
Reply
Yen excitement may pass fast. Still looking for ~87.0 for short USD/JPY.
Hillegom Purk 05:37 GMT April 12, 2011
Reply
Ah 1,0428 is here. So the next correction/bounce whatever will be 1,0334. Nice moves, means that people will be confused...
Syd 05:26 GMT April 12, 2011
Reply
Emergency crews at the plant have battled around the clock to bring the disaster under control and yesterday, the government said the danger of a large leak of radioactive materials was becoming "significantly smaller".
Sinister seven: what Japan's new nuclear crisis rating means
Treasurer Wayne Swan said the appreciation of Australia’s currency is imposing burdens on the nation’s economy, echoing similar comments made by Prime Minister Julia Gillard last month. “A higher currency for Australia means that it has an impact on many of our export industries such as tourism and the export of educational services and those types of industries,” Swan said in an interview as he prepared to depart for Washington to attend a Group of 20 finance chiefs meeting.
VFF states carbon tax opposition
LINK
tokyo ginko 05:13 GMT April 12, 2011
Reply
never stop
Syd 05:12 GMT April 12, 2011
Reply
Earthquake Shakes Tokyo Region
Japan Earthquake Magnitude 6.3
Weakness in the AUD/USD reflects a healthy correction in an extended market, says Grant Turley, head of currency strategy at ANZ Bank. He says the weakness, which first emerged in overnight trading, was given added impetus by Japan's move to upgrade the Fukushima reactor situation to be on par with the Chernobyl disaster. He adds concerns over a possible slowdown in global growth due to the inflationary impact from high energy prices and an overnight warning from the International Monetary Fund about overheating in emerging economies added to the risk-off tone. He says a correction in the AUD seems overdue with net long speculative positions at their highest levels since the CFTC data began.
Is Goldman, Wall Street's Biggest Commodities Bull, Hanging Up the Horns?
Belgrade TD 04:43 GMT April 12, 2011
Belgrade TD 17:09 GMT April 11, 2011
Entry: 1.308 Target: ~1.32/5/+ Stop: ~1.3
///
stop triggered - minus 80
Syd 04:42 GMT April 12, 2011
Reply
China Vice Fin Min: China Faces Risks Of Price Rise, Economic Slowdown
China Vice Fin Min: Developing Nations' QE Policies Bring Asset Bubble Risks To China
China Vice Fin Min: Don't Rule Out Possible Default Of Some European Debt Issuers
China Vice Fin Min: Dollar, Euro Depreciation Have Pressured China Export Growth
China Vice Fin Min: See Possibility ECB Will Resort To Quantitative Easing
Syd 04:02 GMT April 12, 2011
Reply
Time for a new strategy for Euro PLC?Providing more bailouts for struggling members is no way to run a successful business – whatever the political agendaLINK
Complacent Europe must realise Spain will be next
The mix of high external indebtedness, the fragility of the financial sector and the probability of further declines in asset prices increase the probability of a funding squeeze at some point. And that means that Spain will be the next country to seek financial assistance from the EU and the International Monetary Fund. As for the large number of official statements that Spain is safe, I think they are merely a metric of the complacency that has characterised the European crisis from the start.
www.ft.com/cms/s/0/dc2955ea-63ab-11e0-bd7f-00144feab49a.html#axzz1JHHfywDz
Lahore FM 03:26 GMT April 12, 2011
Buy EURUSD
Entry: 1.4394 Target: Stop: 1.4340
bought 1.4396,last long 1.4231 yielded was closed out of last portion at protective sl 1.4390 for net gain of 159+
Lahore FM 03:24 GMT April 12, 2011
Buy EURCHF
Entry: 1.3130 Target: Stop: 1.3000
Lahore FM 23:44:57 GMT - 04/10/2011
Buy EURCHF
Entry: 1.3130 entry here Target: 1.3500/1.3800 Stop: 1.3000
Lahore FM 18:26 GMT April 10, 2011
-- Trade Ideas --: Reply
Buy EURCHF
Entry: monday open Target: 1.3500/1.3800 Stop: 130 pips under entry
Trade of the Month and perhaps Week too.
long entry on open price for the week.sl 130 pips below entry target 1.3500 and 1.3800.
--
stopped for minus 130.
hk ooozmeeh 03:21 GMT April 12, 2011
Reply
Buy Crude
Entry: 1455.50 Target: 1550.00 Stop:
bought gold 1455.50
Lahore FM 03:20 GMT April 12, 2011
Entry: 1.0494 Target: Stop: 1.0440
Lahore FM 20:30:50 GMT - 04/11/2011
Buy AUDUSD
Entry: 1.0494 Target: 1.0590 Stop: 1.0440
bought now.
--
stopepd for minus 54.
bought again 1.0416.sl later dyod.
Syd 02:46 GMT April 12, 2011
Reply
In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices. Now let’s look at what this might mean for the Australian banks who have sated on this housing hot air if, or rather when, the bubble is pricked.
It’s no secret housing is favoured by banks around the world. For two decades after the 1987 stock market crash, banks have lived by the adage “as safe as houses”. Mortgage lending surpassed business lending in 1993, and ever since then it’s been on the up and up. Business lending actually fell during the 1990s recession, and took off again only in 2006, when the China boom and the leveraged-buyout frenzy began.
Actually, out debt to GDP ratio exceeds that of the US and has grown three times more rapidly than did American mortgage debt since 1990. Real estate loans are also a higher proportion of Australian bank loans than for US banks, and their rise in significance in Australia was far faster and sharper than for the US.
More significantly, real estate loans are a higher proportion of bank assets in Australia than in the US, and this applied throughout the subprime era in the US. The crucial role of the First Home Buyers' Boost in reversing the fall in the banks’ dependence on real estate loans is also strikingly apparent.
So if America’s consumers are debt-constrained in their spending, Australian consumers are even more so – with negative implications for employment in the retail sector.
Compared to the US therefore, there is no reason to expect that Australian banks will fare better from a sustained fall in house prices.
It’s great fun while it lasts, but all Ponzi schemes end for the simple reason that they must: they aren’t 'making money', but simply shuffling debt. When new entrants can’t be enticed to join the game, the shuffling stops and the scheme collapses. There are very good odds that, when this Ponzi scheme collapses and house prices fall, bank shares will go down with them.
http://www.businessspectator.com.au
have to sign in for the report, its free
Spain will be next
European politicians have every incentive to postpone crisis resolution indefinitely, as I argued last week. In the meantime, the debt of several peripheral eurozone countries continues to build up. On Wednesday, Portugal finally accepted the inevitable and applied for a financial rescue. European officials quickly pronounced that this would be the last rescue ever. Everyone in Brussels fell over themselves to argue Spain would be safe.
Japan rates Fukushima crisis at Chernobyl level
Spain had an extreme property bubble before the crisis, and unlike in the US and Ireland, prices have so far fallen only moderately. According to data from Bank of International Settlements, real house prices in Spain – price per square metre adjusted by the personal consumption deflators – rose by 106 per cent from the beginning of monetary union and to the peak in June 2007. They have since come off by 18 per cent as of end-2010. Calculations such as these are sensitive to the starting date, but Spanish real prices were relatively flat throughout the 1990s, so this is a relatively safe starting point.
Syd 02:29 GMT April 12, 2011
Reply
Fitch: Taiwan Banks Face Risks from Property Downturn or Any Sharp China Slowdown
tch: Taiwan Banks Face Risks from Property Downturn or Any Sharp China Slowdown
AUD/USD retreats through the morning session with weakness in Asian shares. Greg Gibbs, head of currency strategy at RBS, says markets are reacting to news Japan's nuclear agency has upgraded the severity of the Fukushima crisis to the highest possible level. He adds AUD positioning was heavily long and so the pair was likely to see some profit-taking at some point. He also says it's a consolidation that was somewhat overdue.
Syd 02:07 GMT April 12, 2011
Reply
Australian March Business Confidence Falls 5 Pts To +9 - NAB
Syd 02:05 GMT April 12, 2011
Reply
Fukushima Crisis Level Now Same As 1986 Chernobyl DisasterJapan Nuclear Agency: Estimate Amount Of Radioactive Materials Released So Far About 10% Of Chernobyl
Japan Nuclear Agency: Raising Fukushima Crisis Level To 7 From 5 On Intl Scale
Japan Nuclear Agency: Raising Fukushima Crisis Level To Highest On Intl Scale
Fitch: Taiwan Banks Face Risks from Property Downturn or Any Sharp China Slowdown
tch: Taiwan Banks Face Risks from Property Downturn or Any Sharp China Slowdown
HK pl 01:55 GMT April 12, 2011
It would have to get thru 1.44 first
Syd 01:40 GMT April 12, 2011
Reply
A MAJOR Australian vegetable supplier employing more than 500 people in Queensland has gone into receivership.
Barbera Farms grows produce at Bundaberg and Childers in southern Queensland and Bowen in the state's north.
"It's a terrible shame to have a business of that size obviously suffering financial difficulty but hopefully they can trade their way out of it," Mr Livingstone told AAP.Vegetable supplier Barbera Farms in receivership
censored Warns USD Weakness Unlikely To Last
WOODSIDE dismisses speculation that mining giant BHP Billiton is looking to move in on the country's biggest oil and gas producer.
.More battlers falling into the debt spiral
HIT by the higher cost of living, one in five Australians are struggling to repay debt, a new survey by Veda Advantage has found. The survey says that 21 per cent are finding it very tough to repay debt, up from 19 per cent six months ago.
The survey also found that 14 per cent said they had missed a minimum bill repayment in the past three months, up from 12 per cent six months ago. To help them repay their debt, about 82 per cent said they had cut back on discretionary spending.The number of people who have cut back on grocery bills has also increased with 47 per cent buying fewer groceries compared with 43 per cent six months ago.
Among the 1 million Australians who were likely to apply for new credit, one in six said they owed more today than a year ago.LINK
SF WM 01:25 GMT April 12, 2011
Reply
Any chance for 1.4350-60?
Hong Kong 01:08 GMT April 12, 2011
Reply
Market Review - 11/04/2011 20:14 GMT
Euro retreats from 15-month high on long liquidation
Euro retreated on Monday on long liquidation after recent ascent following a strong rise to a 15-month high of 1.4489 last Friday due to worries over possible U.S. federal government shutdown. However, the single currency failed to penetrate 1.4489 and retreated after meeting selling interest at 1.4485 in Asian morning as President Barack Obama signed a short-term spending bill on Saturday and averted such shutdown. Price later dipped to 1.4421 in New York morning before trading sideways on quiet U.S. afternoon session.
The British pound was little changed on volatile Monday trading. Despite ratcheting lower from Asian high of 1.6392 to 1.6314, cross-buying in sterling versus euro lifted the pound in New York morning to an intra-day high of 1.6427. However, failing to penetrate Friday's 15-month high of 1.6430 prompted cable to retreat in New York midday. Eur/gbp fell sharply from 0.8860 to as low as 0.8793 before rebounding on short-covering.
Bank of England's Monetary Policy Committee member Andrew Sentance was quoted on Reuters Sunday as saying that Bank of England should raise interest rate gradually to help stave off the threat of future inflation.
Reuters also reported on Sunday that voters in Iceland rejected a second plan to repay debts to Britain and the Netherlands from a bank crash, Prime Minister Johanna Sigurdardottir told state television that economic and political chaos could follow.
The Japanese yen strengthened across the broad. Despite the dollar's cross-inspired rise to 85.16 in Australia against the Japanese yen (eur/yen climbed to an 11-month peak of 123.33), sellers quickly emerged at Tokyo opening with price continued to edge lower in Europe and dropped to a day's low of 84.51 in late New York before trading sideways. Eur/jpy, aud/jpy and gbp/jpy retreated sharply from multi-month highs of 123.33 to 122.03, from 90.04 to 88.74 and from 139.63 to 138.04 respectively.
In the other news, International Monetary Fund lifted European area's 2011 GDP growth forecast to 1.6% from 1.5% in January and raised 2012's forecast to 1.8% from 1.7%. IMF saw gradual and uneven expansion with 1.7% in 2011's growth in advanced Europe and 3.7% growth in emerging Europe. IMF cut UK's 2011 GDP growth forecast to 1.7% from 2.0% in January and kept 2012's growth forecast at 2.3%. IMF also lowered U.S.'s growth forecast to 2.8% in 2011 from 3% in January and raised 2012's growth forecast to 2.9% from 2.7%. IMF trimmed Japan's 2011 GDP growth forecast to 1.4% from January estimate of 1.6% and raised Japan's 2012 GDP growth forecast to 2.1% from January's 1.8%.
Data to be released on Tuesday include:
U.K. RICS house prices, BRC retail sales, CPI, RPI, trade balance and DCLG house prices; Japan machine tools orders; Germany CPI final, HICP final, ZEW index and current situation; Canada new housing price index, trade balance, exports and imports and BOC rate decision; U.S. export and import price index and Fed budget.
http://www.acetraderfx.com
dc CB 00:45 GMT April 12, 2011
Reply
Tue, Apr 12 2011, 00:36 GMT - FXst
FXst (Barcelona) - In a rare acceleration north, the US Dollar along with the Japanese Yen are outperforming the rest of currencies in the Asian hours.
Fire broke at Japan's crippled nuclear plant and more aftershocks swayed building in Tokyo, triggering to a quick flight to safety. The Nikkei is down 1.20%.
Furthermore, according to NHK, Japanese gov't finally are admiting radiation is "massive", "dangerous to human health", "wide spread" and "ongoing".
__________________________________________________
Tuesday, April 12, 2011
Japan To Raise Nuke Accident Severity Level To Highest 7
TOKYO (Kyodo)--Japan has decided to raise the severity level of the accident at the crippled Fukushima Daiichi nuclear plant to 7, the worst on an international scale, from the current 5, government sources said Tuesday.
Syd 00:45 GMT April 12, 2011
Reply
TOKYO (Kyodo)--Japan has decided to raise the severity level of the accident at the crippled Fukushima Daiichi nuclear plant to 7, the worst on an international scale, from the current 5, government sources said Tuesday.
A fire broke out early Tuesday morning at a battery unit outside a building at the Fukushima Daiichi No. 4 reactor unit, but it was soon extinguished and did not spread to other areas, plant operator Tokyo Electric Power Co. (9501.TO) said.
Confirming Japanese media reports, a spokesman said Tuesday that the battery unit caught fire at 6:35 a.m. local time (2135 GMT) but was extinguished soon after. No other details were immediately available.
Syd 00:36 GMT April 12, 2011
Reply
There are some reasons not to get too carried away with how much further the AUD/USD could climb, says John Kyriakopoulos, head of currency strategy at NAB. The trade-weighted value of the AUD is currently 5% above the 74 level that underpinned the RBA's CPI inflation forecasts published in early February. This is a material difference and could moderate the RBA's inflation outlook, requiring less policy tightening by the central bank. He also notes that speculative net long AUD position rose to a record 90,900 contracts or US$9.4 billion on April 5, up 80% since March 22. Kyriakopoulos says resistance for AUD/USD is at 1.0580/90, and then at 1.0670 while support is tipped at 1.0480, followed by 1.0450.
dc CB 00:35 GMT April 12, 2011
Reply
SYDNEY (Dow Jones)--Japan's economy will likely slip back into recession during the first half as a result of the earthquake and nuclear power plant disaster, a senior country economist at JPMorgan Chase & Co. said Tuesday, signaling that the U.S. bank is set to downgrade its growth forecasts for the country.
"Technical recession is probably quite likely," said Masamichi Adachi, executive director and senior economist, at JPMorgan Japan told Dow Jones Newswires in an interview in Sydney, Australia.
The U.S. bank now expects the economy likely contracted by around 1.0% or 2.0% in the first quarter and could shrink by as much as 3.5% to 5.0% in the second quarter. JPMorgan's current forecast is for first quarter growth of 0.5%.
link
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