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Posts by "stationdealer"

750 Posts Total by "stationdealer":
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Stationdealer
(London, United Kingdom)
84 Posts by Anonymous "stationdealer":
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 10:36
In Thread: GBP
Bank of England likely to hold rates
7 minutes ago

(AP:LONDON) The Bank of England is expected to keep interest rates steady at 0.5 percent and refrain from any further asset purchases when it finishes its monthly Monetary Policy Committee meeting on Monday.

The decision _ delayed from last week because of the national election _ is being made amid political uncertainty in Britain as leaders jostle for power after the poll resulted in a hung parliament.

Economists also note that growth data released over the past month has been weaker than anticipated, while inflation has been stronger than forecast.

Interest rates have been at a record low for more than year and the bank completed a 200 billion pound quantitative easing program of purchasing assets to boost the money supply in January.


Copyright 2010 The Associated Press. All rights reserved.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 10:34
In Thread: EUR
Greece's borrowing costs sink after euro deal
this minute

(AP:ATHENS, Greece) Near-bankrupt Greece's borrowing costs fell sharply Monday and stocks rallied after the European Union unveiled a $1 trillion plan to contain the continent's spreading debt crisis and boost the euro.

The difference between yields on Greek 10-year bonds and their benchmark German equivalents was at 4.72 percentage points, down massively from a record 10.25 points on Friday. The general share index on the Athens stock exchange gained 9.59 percent in morning trading, reaching 1,786.84 points.

Under the three-year plan adopted in Brussels early Monday, countries from the 16-nation eurozone would promise backing worth euro440 billion ($560.8 billion) for troubled governments. The IMF would contribute an estimated additional euro250 billion ($318.65 billion) and the EU euro60 billion ($76.5 billion).

Separately, eurozone leaders on Saturday gave final approval for a euro80 billion ($100 billion) rescue package of loans to Greece for the next three years to stave off default. The IMF also approved its part of the rescue package _ euro30 billion of loans _ on Sunday.

Last week, global markets suffered big losses and the euro plunged on fears the Greek debt crisis could spread to other weak European economies.

Greek Finance Minister George Papaconstantinou said Monday the agreements meant his country would have no trouble paying off creditors.

"Over the next few days, payment will start of the first section of the loans from the European Union and the International Monetary Fund, so that the country has no problems whatsoever with its borrowing needs and servicing its debt this month, and for months to come," Papaconstantinou said.

Greece was forced to stop borrowing from international markets after the interest demanded by investors to buy its bonds skyrocketed, reaching more than 4 times that paid by EU powerhouse Germany.

The international loans were the country's only shield against bankruptcy on May 19, when some euro9 billion in debt must be redeemed.

In return, Athens announced new painful austerity cuts over the next three years, prompting union anger and violent protests last week in which three people died.

At a cabinet meeting Monday, the center-left government is set to approve key pension reforms, cutting payments and increasing retirement ages.

Before then, President Karolos Papoulias will host a meeting of party leaders on the debt crisis, which left-wing parties are boycotting.


Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 10:33
In Thread: EUR
Eurozone Central Banks Have Started Buying Government Bonds Italian Monetary Sources

Who would have thunk it?

EUR/USD at 1.3060. As mentioned earlier talk of 1.3100 barrier option interest. Euro bulls will be hoping these barriers offer as little lasting resistance on the way up as they did on the way down.

EUR/USD has lifted about 15 points in last few minutes, presently at 1.3060. Talk of a commercial bank in Dublin being notable buyer. I wonder if theyre buying for Central Bank of Ireland as some sort of EU intiative. Just a thought.

while
German Academic Says Considers Appealing Against Global Emergency Aid Package To Stabilise Euro; This headline helped pressure EUR/USD in recent trade up from 13040.



Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 9:40
In Thread: EUR
Talk Of Barrier Option Interest In EUR/USD

At 1.3100, which explains dip back from 1.3093 session high. Bit of protection going on. Were presently at 1.3073. So far Libor is still up that will change through the Greek payment process.

We are in Buy buy buy on every dip.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 9:37
In Thread: EUR
Sources report a number of Asian sovereigns buying both EUR/USD and GBP/USD in recent trade. Were up at 1.3040 and 1.4910 respectively.
Greek/German 10-year government bond yield spread at 464 bps, narrowest since April 20

Still!
ECB: No Comment On Trader Speculation That Theyve Already Started Buying Government Bonds

But am expecting later today. Where they will talk up euro and they will also explain the auterity measure adopted by Greece and in-line with PIIGS states.

@INGbalek Greece benefits for now they will meet their payments on may19th, payments will be made back through European council and to IMF through bond repayments. so far bond spread narrow euro rallies, im expecting 13500 end of this month. So far a pretty busy morning.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 8:07
In Thread: CHF
The Swiss franc depreciated vis--vis the U.S. dollar today as the greenback tested offers around the CHF 1.0945 level and was supported around the CHF 1.0840 level. Data released this weekend confirmed the Swiss National Bank has spent more than CHF 40 billion to buy euro this year with CHF 30.2 billion in franc sales in the first quarter alone. Data Swiss National Bank President Hildebrand last week said the SNB will continue to counter any excessive gains of the franc, noting there would be a negative impact if the franc appreciates sharply due to its role as a safe haven currency.

Hildebrand noted the SNB will not allow such a development to turn into a new deflation hazard and is acting decisively to prevent an excessive appreciation. Hildebrand also called on European leaders to conclude negotiations over Greeces aid package rapidly. April consumer price inflation data will be released on Thursday. U.S. dollar offers are cited around the CHF 1.0930 level. The euro moved lower vis--vis the Swiss franc as the single currency tested bids around the CHF 1.4320 level while the British pound appreciated vis--vis the Swiss franc and tested offers around the CHF 1.6595 level.

EES had a favorite group of pairs EUR/USD, EUR/CHF, USD/CHF. The Swiss Franc used to mean something it meant finance, the old guard. The CHF was backed 40% by physical gold. Now, the SNB will not allow the CHF to appreciate because it would have a negative impact as its safe haven currency status. Whether thats true or not, we have decided to stop trading the CHF. With the volatility in the EUR and USD due to the Greek crisis, the uselessness of trading the CHF is highlighted even more. Trading multiple pairs can have the advantage in a volatile market of hedging in and out of positions by trading more than 1 pair that share the same currency. However, because the EUR/CHF did not move by more than 10 pips in the last 20 hours, including EUR/CHF in any strategy is useless.

There is a trade here, when the EUR/CHF is revalued the move takes time and traders can jump on the trend and ride the movement. A trend following system could be loaded to capture this trend when it happens. Or you could simply look at the chart and see it breaking out of its controlled trading bands.

Elite E Services is an electronic boutique brokerage specializing in currency trading, intelligence, and technology surrounding foreign exchange markets. EES offers FX trading systems for clients and investors, FX consulting, technology and tools for trading, system development, custom programming, and FX solutions for businesses.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 8:06
In Thread: EUR
The Swiss franc depreciated vis--vis the U.S. dollar today as the greenback tested offers around the CHF 1.0945 level and was supported around the CHF 1.0840 level. Data released this weekend confirmed the Swiss National Bank has spent more than CHF 40 billion to buy euro this year with CHF 30.2 billion in franc sales in the first quarter alone. Data Swiss National Bank President Hildebrand last week said the SNB will continue to counter any excessive gains of the franc, noting there would be a negative impact if the franc appreciates sharply due to its role as a safe haven currency.

Hildebrand noted the SNB will not allow such a development to turn into a new deflation hazard and is acting decisively to prevent an excessive appreciation. Hildebrand also called on European leaders to conclude negotiations over Greeces aid package rapidly. April consumer price inflation data will be released on Thursday. U.S. dollar offers are cited around the CHF 1.0930 level. The euro moved lower vis--vis the Swiss franc as the single currency tested bids around the CHF 1.4320 level while the British pound appreciated vis--vis the Swiss franc and tested offers around the CHF 1.6595 level.

EES had a favorite group of pairs EUR/USD, EUR/CHF, USD/CHF. The Swiss Franc used to mean something it meant finance, the old guard. The CHF was backed 40% by physical gold. Now, the SNB will not allow the CHF to appreciate because it would have a negative impact as its safe haven currency status. Whether thats true or not, we have decided to stop trading the CHF. With the volatility in the EUR and USD due to the Greek crisis, the uselessness of trading the CHF is highlighted even more. Trading multiple pairs can have the advantage in a volatile market of hedging in and out of positions by trading more than 1 pair that share the same currency. However, because the EUR/CHF did not move by more than 10 pips in the last 20 hours, including EUR/CHF in any strategy is useless.

There is a trade here, when the EUR/CHF is revalued the move takes time and traders can jump on the trend and ride the movement. A trend following system could be loaded to capture this trend when it happens. Or you could simply look at the chart and see it breaking out of its controlled trading bands.

Elite E Services is an electronic boutique brokerage specializing in currency trading, intelligence, and technology surrounding foreign exchange markets. EES offers FX trading systems for clients and investors, FX consulting, technology and tools for trading, system development, custom programming, and FX solutions for businesses.
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 7:57
In Thread: EUR
What will be more interesting today will be to see where vix opens
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 7:56
In Thread: EUR
That signals business as usual eh catnip!
Stationdealer
London, UK
Posts: 715
14 years ago
May 10, 2010 7:54
In Thread: EUR
what we need to be concerned about is there going to enough dollars available for forex swaps to continues smoothly over the coming days of transaction. The rhetoric of shorting euro for will soon run out of steam with Euro right now just shy of tuouching its top resistance of 13000, I will still remain to focus on the statements that will be coming along the day from Eurozone. The meeting today in berlin and brussel will shed some light on if euro rally will sustain back to 13500.