• China will stick to gradual,steady currency reform- commerce minister
    Hopes relevant countries strictly control their government debt Reuters are quoting comments from the Chinese commerce minister […]
  • Around the markets
    Stocks in the region are around 1% higher on average,Gold is steady at $1756/oz after losing ground overnight,and Oil is trading back above $85/bbl. […]
  • FinMin Noda on the newswires
    No surprise there. He says that Forex moves are still one-sided and that Japan wants to cope with Yen rise with a sense of urgency. May consider steps to cope with Yen rise in 3rd extra budget […]
  • AEPs take on the EUR/CHF ‘peg’
    It’s a very slow news day in the Asian FX market with risk trades,as usual for a Friday,drifting lower in quiet trade. Why not have a read of AEPs take on the touted EUR/CHF peg. […]
  • EUR/USD:Trading conditions remain very choppy
    EUR/USD traders have had it tough over the last two weeks with all the big moves happening elsewhere and the EUR getting chopped around by cross flows. This sideways action will continue until either the EUR or USD makes a move in either direction. Short term support/resistance is at 1.41/1.43 and I’d look to play […]
  • Sharemarket opens:Japan +1%,Korea +1.5%
    FX market remains very quiet,although risk pairs are again sliding lower. […]
  • USD/JPY:Retail traders buying this morning,hoping for ‘free bet’
    The hope that the BOJ might start buying USD/JPY again has encouraged retail traders to join in this morning,with one retail broker telling me that he is seeing the weight of flows heavily skewed towards buyers. I guess they’ll hang on for a few hours and if the BOJ doesn’t turn up,they will […]
  • Risk trades edging lower in early Asia
    Typical Friday fare in Asia one would have to say,with very mild risk aversion the usual end of week offering. Dealers report light flows with pairs like EUR/CHF seeing light profit taking after big overnight moves. […]
  • USD/CHF:Buying dips favoured
    The market has been buying CHF for the last two years and the spike low in USD/CHF to .7070 is starting to look like an exhaustive one,possibly signalling a retracement. The short-term rally has stalled so far just below .7700,which was a previous congestion point. This area should be respected so I’d prefer […]
  • Order books looking fairly empty
    It doesn’t look like we are going to get any volatility from the order book this morning,with few orders of consequence being reported close to the market. We’ll have to rely on the BOJ and equity markets for some excitement. If nothing happens on either of those fronts,then we might enjoy a very […]
  • Chancellor Osborne sees UK as safe haven
    The Chancellor of the Exchequer says that the UK will stick to its plan,with an unwavering commitment to fiscal responsibility and deficit reduction. […]
  • Spain short-selling ban for 15 days
    The Spanish stock-market regulator announced a ban on short-selling,effective from today for next 15 days. This will be extended if necessary. Belgium,France and Italy are expected to follow suit. […]
  • ForexLive Asian market open
    The SNB intervention was the big factor in overnight trade and this had the effect of reducing risk aversion thus helping the AUD higher and Gold lower. Let’s hope we have a quiet session in Asia after a tumultous week. Main event risk here will be that the BOJ follows the SNB lead and directly […]
  • Closing bell on Wall Street
    Small drift back down into the bell  but a solid set of gains nonetheless:Dow  11142,up 422 pts  for a 3.94% gain S&P  1172,up 51.8  or 4.6% Nasdaq 2492,up 111 or 4.69% […]
  • ForexLive US Wrap:Strong stock rally and SNB intervention brings some calm back to markets
    ESMA is holding a teleconference call on bank share volatility involving all 27 National regulators Italy’s bourse regulator CONSOB meeting tonight,unclear if short selling ban on the agenda US Jobless claims for wk ending Aug6 fell to 395k from 402k for previous week US June Trade deficit $53.07 bln vs May deficit $50.83bln,largest […]

Schlossberg Sees `Glacial’Revaluation of China’s Yuan:Video

Image by Getty Images via @daylife

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June 22 (Bloomberg) —Boris Schlossberg,director of research at online currency trader GFT Forex in New York,talks with Bloomberg’s Rishaad Salamat about changes to China’s currency policy. China’s yuan gained the most in five years yesterday after the central bank pledged on . . . →Read More:Schlossberg Sees `Glacial’Revaluation of China’s Yuan:Video

Asia’s Currencies Have Strongest Week in Five Months as Inflows Increase

South Korean won coins and bills are displayed in Seoul. Photographer:Seokyong Lee/Bloomberg

Asian currencies strengthened this week,led by South Korea’s won and the Philippine peso,as signs the global economic recovery will withstand Europe’s debt crisis boosted demand for riskier assets.

The Bloomberg-JPMorgan Asia Dollar Index and the MSCI Asia Pacific Index . . . →Read More:Asia’s Currencies Have Strongest Week in Five Months as Inflows Increase

Euro Has Biggest Weekly Gain Since May 2009 as European Debt Concern Eases

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The Euro sign sculpture sits outside the European Central Bank (ECB) headquarters in Frankfurt. Photographer:Hannelore Foerster/Bloomberg

The euro rose the most this week against the greenback in more than year as an easing in concern over Europe’s debt crisis spurred traders to end bets the shared shared currency would decline.

. . . →Read More:Euro Has Biggest Weekly Gain Since May 2009 as European Debt Concern Eases

Taiwan’s Export Orders Rose for Eighth Month in May on Demand From China

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Taiwan’s export orders rose for an eighth consecutive month in May as Europe’s debt crisis failed to damp demand for the island’s computers and television screens.

Orders,an indication of shipments in the next one to three months,advanced 34.03 percent from a year earlier,after a 35.15 percent gain in . . . →Read More:Taiwan’s Export Orders Rose for Eighth Month in May on Demand From China

Emerging-Market Stocks Drop,Halting Longest Rally Since 2005;Yuan Falls

China may allow the yuan to strengthen to deflect criticism from its trading partners and curb inflation,while protecting a recovery in its exports. Photographer:Nelson Ching/Bloomberg

Emerging-market stocks fell for the first time in 11 days on renewed concerns Europe’s debt crisis will hurt the global economy.

The MSCI Emerging Markets Index lost . . . →Read More:Emerging-Market Stocks Drop,Halting Longest Rally Since 2005;Yuan Falls

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