Forex Signals

China ForMin: Reiterates support for EU, IMF rescue package for eurozone countries
S.Korea’s Lee: Military should launch “merciless counterattack” if North dares to strike South – Yonhap
N.Korea’s armed forces minister: Ready for “holy war” using nuclear deterrent – KCNA
Australia has record M&A quarter, reviving 2011 optimism – Bloomberg
Rio offers A$3.9 bln for Riversdale to get African [...]

Moody’s downgrades Ireland to Baa1 from Aa2; outlook negative
German Ifo December business climate 109.9, better than median forecast of 109.1
Ifo’s Abberger: German consumption increasingly supporting strong recovery in Germany
North Korea says will strike at South if Seoul goes ahead with planned live fire drills
China CBank advisor: There is scope to increase bank’s required reserves higher. [...]

Trichet: Main lesson of crisis is that we must improve governance in Europe
ECB buying euro zone bonds aggressively
S&P puts Poruguese banks on negative watch. Follows recent move to put Portugal on negative credit watch
Main Irish opposition party Fine Gael:  Drawing down full IMF/EU facility at 5.8% prohibitive, potentially unsustainable (and there’s the rub)
Leader of Fine [...]

ECB, Majority of EMU states urging Portugal to seek aid – FT Deutschland
Portugal PM office: “Totally false” that country is under pressure to seek bailout
German FinMin:  Rejects newspaper report that Germany is pressuring Portugal to request aid
Spanish government source: Spain not pressuring Portugal to seek a financial rescue
EU/IMF deal with Ireland very likely on Sunday [...]

Artillery shells fired by North Korea hit South Korean island, fatalities
S.Korea says it was conducting military drill in area before North Korea firing.  Says conducted test firing before exchange at island, but fired West, not North
German FinMin Schaeble: Joint currency is at stake
Euro zone  manufacturing PMI 55.5, stronger than median forecast of 54.4
EU, ECB, IMF: Greece [...]

China central bank advisor Li: Calls for stability in major currencies.  Says reforms to global monetary system should be gradual
Yuan rises 0.51% vs dollar, biggest single day rise since July 2005 revaluation
IMF’s Vinals: Yuan is significantly undervalued.  I would not say we have a currency war
Bank of France industry sentiment index 103 in October, up from [...]

European, IMF officials begin new Greece inspections
China’s Wen: Have successfully controlled fiscal risks
Germany’s VDMA: doubles 2010 production growth forecast to 6%
EU Commission forecasts 2010 euro zone GDP growth 1.7%, up frpm previous +0.9%
EU’s Rehn: We have solid ground under our feet on economy
UK unions threaten strikes, civil disobedience and campaign of resistance over cuts - Telegraph
French [...]

Dubai World says reached formal agreement with over 99% of creditors to restructure approx $24.9 of liabilities
Aide to Ozawa: BOJ should boost outright buying of long-term JGBs
Japanese government keeps economic assessment unchanged.  Economy picking up. Move towards self-sustaining recovery seen
Japanese PM Kan: To make decisive steps on yen as needed.  Rapid forex moves risk hurting [...]

Japan Ozawa campaign aide: BOJ not doing enough, but BOJ alone cannot end deflation
IMF Chief Econmoist Blanchard:  Growth will likely remain weak both in Euope and US
Australian independent MP says decision on new govt coulod be made on Tuesday
UK August car registrations fell 17.5% y/y – SMMT
Euro zone sentix investor confidence 7.6 in September, down [...]

China’s passenger car sales rose 59.3% y/y in August, marked improvement from the 15.4% y/y rise seen in July
Departing White House economist Romer:  US budget deficit cannot be excuse for leaving unemployed to suffer. US has tools that would bring unemployment rate down, must find will to use them
Currency trading growth slowed amid crisis, BIS [...]