Forex Forum Archive for 01/09/2016

nw kw 21:14 GMT January 9, 2016
I Warned You!

00:30 AU- Employment
bets this as good NFP.

Mtl JP 18:14 GMT January 9, 2016
BREAKING NEWS

JAN. 8, 2016
ECB�s Lane Says Bond Buying Can Be Increased
The European Central Bank will expand its program of government bond purchases if that is needed to raise the inflation rate to its target, a member of its governing council, Philip Lane, said in an interview.

Mtl JP 18:12 GMT January 9, 2016
and cameron wants to join the EU

nh - naturally
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note that �There is no plan B, there is only one plan,� Mr. Praet, the ECB�s top economist, said in an interview with Belgian weekly magazine Knack published on Wednesday.

Consumer prices in the eurozone rose 0.2% in December from the same month a year earlier, the European Union�s statistics agency said on Tuesday, far below the ECB�s inflation target of just below 2%.

�If you print enough money, you will always get inflation. Always,�
http://www.wsj.com/articles/no-alternative-to-stimulus-says-ecbs-chief-economist-1452076862
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Praet omitted saying that his printing - as always - will see asset and credit bubbles implode
or in other words will massively destroy wealth in reverse of massive printer-induced growth in debt based assets

Why is Praet peddling printing - simply because he must try mitigate a massive collapse.
Nevermind that money printing will have no posi-effect besides additional increase in debt
Normally fin system deflationary implosion follows printer-ed hyperinflation.
Somehow we hae missed hyperinflation
--
Praet - remember the name

GVI Forex Jay Meisler 16:24 GMT January 9, 2016
Forex Trading Outlook for the Week Ahead
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I warned about the risk of volatility and false starts in the first week of the new year This �turned out to be a good warning as a risk off mood saw the fx market shrug off a strong US employment report. This sets the stage for the coming week where a light economic calendar will leave the focus on stocks and China to set the risk mood. In my outlook video I look at a progression on charts to put the broader picture in perspective and where stops may be resting in the shorter-term charets.�

Forex Trading Outlook for the Week Ahead

dc CB 15:36 GMT January 9, 2016
Fun With Covers
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PROPoganda by Omission???

Barron's Cover is The Exception, otherwise you wud never know that the US Market dropped 6% this week.

Washington(BEZOS)Post. discusses the Chinese Market, and the "great" jobs report.....As far as US Stocks, yu'd never expect that the market sold off unless you look at the numbers on the charts.
Conclusion: the Chinese Stock Market is in Trouble.

NYTimes. JOBS on Front page Top Right. In the Business Section there is a single AP Story: Stock Market Ends Its Worst Week Since 2011.

Barron's

Livingston nh 15:35 GMT January 9, 2016
and cameron wants to join the EU

jp - these protests and "surprises" crack me up -- What part of SOVEREIGN did these guys miss?

GVI Forex Blog 14:36 GMT January 9, 2016
WEEK AHEAD - ECONOMIC DATA ANALYSIS
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Friday 8 January 2016

MPC ON HOLD AS VOLATILITY FLARES

Chinese data could add to renewed market anxiety about extent of slowdown

Fed speakers to flesh out range of views on scope for US hikes in 2016

MPC on hold, with rising chance of McCafferty abandoning rate hike call

GVI Forex Blog 12:59 GMT January 9, 2016
I Warned You!
Reply   

John M. Bland, MBA, CTA

Markets Off To A Roaring Start IN 2016
While I had indicated last week that the consensus strong USD bias of many created risks, it was surprising that things came to a head so swiftly

I Warned You!

Mtl JP 09:08 GMT January 9, 2016
and cameron wants to join the EU
Reply   
http://www.ft.com/cms/s/0/9f276d60-b55b-11e5-b147-e5e5bba42e51.html

January 7, 2016 6:37 pm
ECB under fire as Portugal hits Novo Banco bondholders

Europe�s new regime for winding up failing banks has made an inauspicious start, as investors lashed out at the European Central Bank for allowing Portugal to impose losses on almost �2bn of senior bondholders in Novo Banco.
The central bank of Portugal last week moved five of 52 senior Novo Banco bond issues to the �bad bank� it set up to hold the lender�s toxic assets after a bailout of Banco Esp�rito Santo in mid-2014.

Investors have cried foul, threatening legal action and claiming Portugal is discriminating between holders of the same class of bonds and thus breaching the pari passu principle of equal treatment to protect domestic bondholders.
�They are sending a signal that property rights and the rule of law in Portugal are not respected,� said Philippe Bodereau, portfolio manager at Pimco, one of the world�s biggest debt investors, which held some of the affected bonds.
�What is even more concerning is that such a course of action has been allowed to take place under the watch of the ECB, which as recently as November 2015 concluded that Novo Banco was viable.�
Europe�s new system, which puts bank bondholders at risk of a bail-in rather than leaving taxpayers on the hook for a bailout, was cemented with the creation on January 1 of the Single Resolution Board. This new body will take over responsibility for deciding when a bank has failed and for overseeing its �resolution�.
The ECB declined to comment. But a person familiar with the Frankfurt regulator said that Portugal had acted under national law and so did not require ECB approval for the move.
�It is not clear whether the ECB has endorsed this plan but the fact that it has been allowed to take place should alarm providers of funding and capital to the eurozone banking system,� Mr Bodereau said.

�This raises serious doubt over whether other Portuguese entities are investable, and also raises questions about other midsized peripheral banks in Europe that are not exactly in great shape.�
Novo Banco was under pressure from the ECB to remedy a �1.4bn capital shortfall identified by a stress test last November, particularly as its balance sheet was deteriorating, according to people familiar with the matter.
�This is a classic example of the goalposts being moved yet again in an unpredictable fashion,� said Tim Skeet, chairman of the International Capital Markets Association�s working group on bail-in.
�It is not that investors are saying no to the principle of write down at bail-in, but they are asking for consistency and predictability. We don�t appear to have those elements.�
They are sending a signal that property rights and the rule of law in Portugal are not respected

Investors said another example of inconsistency was Austria�s recent attempt to slash the cost to taxpayers of bailing out Hypo Alpe Adria bank by imposing losses on bondholders through a reversal of guarantees given by the province of Carinthia.
Davide Serra, chief executive of the Algebris fund that invests in bank debt, said: �We are two to three years into European banking union, but each time something happens they are making it up as they go along. It is shocking.�
�If they want to protect voters and screw creditors, fine, but it will come at a cost eventually � there will be a higher cost of funding for that country�s banks.�
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The Single Resolution Board (SRB)
http://srb.europa.eu/en/board
Dr Elke K�nig is Chair of the SRB, being responsible for the management of the organisation, the work of the Board, the budget, all staff, and the Executive and Plenary sessions of the Board. The General Counsel, the Policy Coordination and International Relations Unit, the Communications office and the Internal Audit function report directly to her.
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https://twitter.com/eu_srb
Sng Resolution Board
@EU_SRB

GVI Forex Blog 01:42 GMT January 9, 2016
BREAKING NEWS
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China CPI. Inflation at 1.60% y/y in line with expectations.

BREAKING NEWS: China CPI In Line/font>