Your forexlive.com ENewsletter |  |
- Spain’s bad loans keep on growing
- Greek current account balance june: y/y EUR +0.663 bln vs 0.073 bln prev
- Technical levels 19 August
- AUDUSD orders 19 August
- London crane watch
- EURJPY orders 19 August
- USDJPY orders 19 August
- EURGBP orders 19 August
- European equity markets open mostly lower
- Shanghai comp index closes up 0.83% at 2085.60
- GBPUSD orders 19 August
- UK’s CBI sees economy growing by 1.2% in 2013
- EURUSD orders 19 August
- Eurostoxx 50 futures down 0.04% in early trading
- Nikkei closes up 0.79% at 13,758.13
- Nikkei still in positive territory but off its highs
- Everbright Securities says human error caused mistaken bond trade in China morning session
- Data coming up in this session
- Option expiries 10am NY cut 19 August
- PBOC governor says they will continue with prudent monetary policy in H2 2013
| Spain’s bad loans keep on growing Posted: 19 Aug 2013 02:00 AM PDT Despite shovelling billions in bad property loans and other assets to the Spanish toxic bank Sareb, Spain’s bad loans rose to 11.6% of all credit in June. This was up from 11.2% in May and it still looks like increasing further. Spain’s property market is in a real mess. Unlike most normal recovering housing markets there was a lot going on behind the scenes with corruption, plenty of less than legit building firms and flouting of regulations. This was rife in the tourist areas. There were plenty of legitimate firms and businesses that suffered as well, but there is a lot still to unravel before a normalised recovery can take place. Prices are still very depressed and many Spanish and tourist home owners are underwater. |
| Greek current account balance june: y/y EUR +0.663 bln vs 0.073 bln prev Posted: 19 Aug 2013 01:37 AM PDT
Encouraging data from the struggling economy and with the rest of summer figures still to come in
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| Posted: 19 Aug 2013 01:30 AM PDT Hi all. Hope you had a good weekend. Here are the levels for a bright and breezy Monday.  Technical levels 19 August 2013 |
| Posted: 19 Aug 2013 01:28 AM PDT Currently 0.9204 Sellers 0.9220 0.9230 0.9240 0.9250 0.9270 0.9300 0.9230 0.9240 Buyers 0.9175 0.9150 0.9140 0.9130 0.9110 0.9100 0.9090 0.9080  AUDUSD oders 19 August |
| Posted: 19 Aug 2013 01:26 AM PDT Whilst in and around the City on Sunday – at a function, 15 floors up – I happened to notice the huge number of cranes dotted about the London skyline. Now like most people who live in a city, you tend to only see those things which are most familiar to you, until something catches your eye, and spurs you on to look again, but with a different focus. So I decided to try and get some perspective on this – after all, just because I noticed a large number of cranes, it didn`t necessarilly mean that they had magically appeared overnight. So I did a little bit of research. As of mid May this year, building activity in London had trebled from its low in 2010, to reach a four year high – and by the look of things on Sunday, that activity had further gathered momentum. AND, of the building under construction, 33% of it is pre let, compared to only 1% back in 2011., so potential tenants are going ahead with plans now, rather than sitting back and waiting for things to improve/get cheaper. I also managed to talk to a few friends who run businesses parallel to the building industry ie. making windows/doors/plastics etc. and all reported a surge in demand over, specifically, the last 6 months, with business levels now at or above pre recessionary levels. I would sum this up by saying that economic activity in this part of the world, and in this particular sector, is booming. Not a true reflection on the UK as a whole, but cause for optimism that GDP may normalise perhaps a little faster than is currently envisaged. Also, Carney……Crane……….make up your own mind, too similar for my liking AND, you never see them out together.
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| Posted: 19 Aug 2013 01:20 AM PDT Currently 130.03 Sellers 130.30 130.40 130.50 130.75 131.00 131.20 Buyers 129.85 129.65 129.50 129.25 129.00 128.80  EURJPY orders for 19 August |
| Posted: 19 Aug 2013 12:36 AM PDT Currently 97.60 Sellers 97.90 98.00 98.10 98.30 98.50 98.65 98.85 99.00 Buyers 97.35 97.20 97.10 97.00 96.80 96.60 96.50 96.40 96.20 96.00  USDJPY orders for 19 August |
| Posted: 19 Aug 2013 12:22 AM PDT Currently 0.8525 Sellers 0.8535 0.8555 0.8570 0.8585 0.8600 0.8610 0.8620 0.8630 Buyers 0.8515 0.8500 0.8485 0.8465 0.8450  EURGBP orders for 19 August |
| European equity markets open mostly lower Posted: 19 Aug 2013 12:07 AM PDT
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| Shanghai comp index closes up 0.83% at 2085.60 Posted: 19 Aug 2013 12:04 AM PDT |
| Posted: 18 Aug 2013 11:57 PM PDT Currently 1.5617 Sellers 1.5640 1.5655 1.5680 1.5700 1.5720 1.5750 Buyers 1.5610 1.5600 1.5585 1.5550 1.5525 1.5500  GBPUSD orders for 19 August |
| UK’s CBI sees economy growing by 1.2% in 2013 Posted: 18 Aug 2013 11:43 PM PDT The Confederation of British Industry, representing 240,000 businesses, has raised its forecast from 1.00% It has also raised its forecast for 2014 to 2.3% from 2% Director General Sir John Cridland says
The CBI also sees the BOE’s forward guidance as having a positive effect More from the BBC here |
| Posted: 18 Aug 2013 11:32 PM PDT Currently going nowhere fast at 1.3325 Sellers 1.3340 1.3350 1.3360 1.3380 1.3390 1.3400 1.3410 1.3420 1.3450 Buyers 1.3315 1.3300 1.3285 1.3265 1.3250 1.3220 1.3200  EURUSD orders for 19 August |
| Eurostoxx 50 futures down 0.04% in early trading Posted: 18 Aug 2013 11:06 PM PDT
Bund futures down 45 at 139.77 German 10 year bund yields at 1.924%. highest since march 2012 |
| Nikkei closes up 0.79% at 13,758.13 Posted: 18 Aug 2013 11:02 PM PDT
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| Nikkei still in positive territory but off its highs Posted: 18 Aug 2013 10:11 PM PDT As we head into the final hour the Nikkei is at 13,694 ( +0.34%) but off it’s highs of 13,742.75 USDJPY also lower at 97.55 |
| Everbright Securities says human error caused mistaken bond trade in China morning session Posted: 18 Aug 2013 10:02 PM PDT These guys are getting a little careless huh? After the Chinese brokerage was caught up in “trading system error” on Friday today’s mistake occurred on a trade with a face value of 10 million yuan (USD1.64 m) of government bonds. A trader mistakenly inputted a yield of 4.20%, 25 basis points higher than the yield on the same bond at Friday’s close. |
| Data coming up in this session Posted: 18 Aug 2013 09:55 PM PDT Good day one and all I trust you had a great, or at least peaceful, week-end It’s been a quiet start to the week in Asia, apart from a Nikkei-led move higher in USDJPY and one glance at the orderboard tells us that we won’t be looking at that for inspiration today But hopefully we’ll get something to kick-start us into action, altough after the fun and games of last week and vacation conditions still prevailing we shouldn’t get too excited. Eamonn says we do have some data at 05.00GMT, final figures from Japan for the June leading index (107.0 prior) and coincident index (prior 105.2) but not a game changer, and I can’t see it on my schedules anywhere. As ever though we’ll be looking to do what we can to help make/save you a few pips as the day unfolds Have a good week everyone Times GMT  Economic data 19 August 2013 |
| Option expiries 10am NY cut 19 August Posted: 18 Aug 2013 09:44 PM PDT
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| PBOC governor says they will continue with prudent monetary policy in H2 2013 Posted: 18 Aug 2013 09:32 PM PDT China’s central bank governor on Reuters
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