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Portugal Finance Minister Says Bond Auction a Success, 80% Demand From Foreigners

Portugal Finance Minister Says Bond Auction a Success, 80% Demand From Foreigners 2011-01-12 11:55:03     Country paying average rate on debt stock of 3.5%. Country to continue strategy of financing itself in markets. Tougher budget cuts to show up in January data. To diversify debt investor base further in the year of 2011 with private placements. Diversification strategy includes China, Americas, and Middle East. ...

European Stability Mechanism Could Take Contribution From Financial Institutions – EU Commission Report For Euro Zone Countries

European Stability Mechanism Could Take Contribution From Financial Institutions – EU Commission Report For Euro Zone Countries 2011-01-12 10:56:42   § It is in interest of financial sector to contribute to safety net. § One of tax of 0.2% on euro area bank assets would allow about 50 BLN Euros to be raised. § Envisages purchase of sovereign debt on secondary market for stability mechanism. ...

GBP/JPY Classical 01.12

GBP/JPY Classical 01.12 2011-01-12 09:48:07     GBP/JPY:In spite of the latest break to fresh multi-week lows below 126.00, overall, the market remains confined to a multi-week consolidation, with the recent drop resulting in a test of this loose range base. At this point, we see no reason not to keep trading with the range, so latest dips into the 125.00-126.00 area have been viewed as a formidable buy opportunity. Ultimately, only a daily close below 125.00 would negate...

Japan: Eco Watchers Survey Current Index Rises to 45.1 in the month of December

Japan: Eco Watchers Survey Current Index Rises to 45.1 in the month of December 2011-01-12 07:28:54   The index for current economic conditions in the month of December 2010 rose by 1.5 points from 43.6 in the month of November to 45.1, posting the second rise in a row. This performance is slightly better than the 44.9 predicted.The Eco Watchers Survey released by the Cabinet Office closely watches region-by-region economic trends. The survey is considered as basic...

Yuan Fixed At Record High Against The USD

Yuan Fixed At Record High Against The USD 2011-01-12 06:38:37     Japan’s November current account surplus -15.7% YOY Australian floods may cut 1% from GDP: RBA Yuan fixed at record high ahead of Chinese President’s US visit Regional stock markets +0.5% on average Gold $1385/oz, Oil $91.15/bbl It was a carbon copy of yesterday with the AUD/USD falling in early trade but then being followed by a rally in the EUR/USD.The AUD market was spooked by the RBA comments regarding the effects...

EUR/USD enlarges recovery to 1.3015

EUR/USD enlarges recovery to 1.3015 2011-01-12 05:09:20     The European shared currency kept ticking higher along the Asian session, animated by a nice mix of higher risk appetite coupled with the usual bids by Asian Central Banks.EUR/USD got a new enhancement to fresh daily highs at 1.3015, moving further away from its most recent lows at 1.2871. Current price can be found at 1.3009, 37 pips or 0.28% above its previous close.Sharing its technical...

China’s Forex holdings rise to record $2.85 trillion

China’s Forex holdings rise to record $2.85 trillion 2011-01-11 13:06:18     Statistics released by the People’s Bank of China on Tuesday showed the Chinese Forex kitty is bursting at seams with an 18.6 percent growth in 2010 which made it zoom to a record $2.85 trillion.The revelation that the foreign exchange reserve of the world's second largest economy and the largest exporter had increased by $199 billion in the final three months of 2010 will make it harder...

Loonie Pares Losses vs. Greenback on Rally of Commodities

Loonie Pares Losses vs. Greenback on Rally of Commodities 2011-01-11 12:59:11     The Canadian dollar pared losses against its US counterpart today as the rally of commodities outweighed the impact of the increasing concerns about the fiscal crisis in the European Union.Today’s rally of commodities was very favorable for the loonie, as the Canadian currency is often nicknamed, because about half of Canada’s export revenue comes from raw materials. The Thomson Reuters/Jefferies CRB Index of raw materials...

EUR/CHF recovery stalls below 1.2565/80

EUR/CHF recovery stalls below 1.2565/80 2011-01-11 11:35:45     Downfall from last week highs at 1.2725 was contained yesterday at 1.2435, and the pair bounced up returning above 1.2500 to stall below 1.2565/80 resistance area, with 1.2515 level offering support.Immediate resistance lies the mentioned 1.2565/80 (Jan 7/10/11 highs), and above here, 1.2635 (daily Pivot Point S2) and 1.2680 (Jan 4 high). On the downside, support levels lie at 1.2515 (day low), and below here, 1.2480/85 (intra-day support)...

U.S. Dollar Falls Slightly vs. Rivals

U.S. Dollar Falls Slightly vs. Rivals 2011-01-11 10:28:20       Economic News USD - U.S. Dollar Weakens as Risk Appetite RaisesThe U.S. dollar fell slightly against most of its major currencies yesterday, as gains in stocks and commodities prompted investors to wade into riskier currency trades. By yesterday's close, the USD fell against the EUR, pushing the oft-traded currency pair to 1.2950. The dollar experienced similar behavior against the...
 
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