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EUR/USD ticking higher again

Posted:

Presently at 1.3750. Hedge fund seen notable buyer down around 1.3735. I'm quite excited (well about as excited as I get these days) to see how the 1.3700-1.3760 theory works out. Well for how long really, cos it's only a matter of time before it goes down the toilet.

UK Markit/CIPS Manuf. PMI At Highest Since Survey Began 1992

Posted:

LONDON (MNI) - UK manufacturing activity expanded in January at its fastest rate since the Markit/CIPS purchasing managers' survey began in 1992. The index rose to 62.0 in January from a revised 58.7 in December. ...

UPDATE: BOE: Dec Mortgage Approvals Lowest Since March 2009

Posted:

-- Adds Detail To Version Transmitted At 0930GMT --BOE: Q4 M4 Ex-intermediate OFCS +3.0% 1Q Ann; 2.3% 4Q Ann. --UK Dec House Purchase Approvals 42,563 vs 47,287 Nov --UK Dec Net Consumer Credit stg181mln vs -stg70mln Nov --UK Dec Net Mortgage Lending -stg298mln vs stg483mln Nov --Final Dec M4 -1.3% m/m; -1.5% y/y --Dec M4 ...

BOE: Dec Mortgage Approvals Hit Lowest Since March 2009

Posted:

--BOE: Q4 M4 Ex-intermediate OFCS +3.0% 1Q Ann; 2.3% 4Q Ann. --UK Dec House Purchase Approvals 42,563 vs 47,287 Nov --UK Dec Net Consumer Credit stg181mln vs -stg70mln Nov --UK Dec Net Mortgage Lending -stg298mln vs stg483mln Nov --Final Dec M4 -1.3% m/m; -1.5% y/y --Dec M4 Lending -1.2% m/m; -3.3% y/y --House Approvals Lowest ...

UK January manufacturing PMI 62.0

Posted:

Up from revised 58.7 in December, and demonstrably better than median forecast of 57.9. Highest read since survey began in 1992. Cable spikes over 1.6100, presently at 1.6115. Elsewhere, UK December mortgage approvals came in at 42,563 versus 47,287 in November, some way below median forecast of 47,000. Mortgage lending -0.298 bln ...

There is a theory…..

Posted:

That various Asian central banks are presently playing a 1.3700-1.3760 trading range. From what we've heard this morning, that seems like a fairly decent theory. Certainly better than some of the old cobblers I've heard over the years. ACB came in buying in 1.3705/10 area and we're back up at 1.3725. Ofcourse the theory will ...

Spanish/German 10 year government bond yield spread tightens to 196 bps, 14 bps narrower on day

Posted:

Italian/German 10 year bond yield spread tightens to 149 bps, 8 bps narrower on the day.

Germany’s SA Unemployment Falls More Than Expected In January

Posted:

SA Unemployment: -13k (pan-German), -12k (West), -1k (East) MNI survey median: -8,000 m/m MNI survey range: -55,000 to +9,000 m/m -- FRANKFURT (MNI) - The ranks of the unemployed in Germany fell by more than generally expected in January, the Federal Labour Office reported on Tuesday. ...

ACB buys EUR/USD

Posted:

One of the Asian central banks seen selling earlier has apparently been seen buying in recent trade. Taking nice little profit by sounds of it. We sit presently at 1.3707.

GERMANY DATA: The number of unemployed in Germany by.

Posted:

GERMANY DATA: The number of unemployed in Germany fell by a stronger-than-expected, seasonally-adjusted 13,000 in January, cutting the overall jobless rate to a seven-month low of 7.4%, the Federal Labour Office reported on Tuesday. -- Germany January sa unemployment rate 7.4% (MNI median 7.5%) -- Germany January sa unemployment -13k (MNI ...

Euro zone January final manufacturing PMI 57.3

Posted:

Revised up from flash estimate of 56.9, and up from 57.1 in December. Highest read since last April.

German January s.a jobless change -13k

Posted:

Slightly better than median forecast of -10k. Unemployment rate 7.4%, down from 7.5% in December, better than median forecast of unchanged 7.5%.

German January final manufacturing PMI 60.5

Posted:

Improvement on flash estimate of 60.2. Slightly down from 60.7 in December.

French January (final) manufacturing PMI 54.9

Posted:

Down from 57.2 in December, but an improvement on the flash estimate of 54.3.

Italy January manufacturing PMI 56.6

Posted:

Up nicely from December's 54.7 and demonstably stronger than median forecast of 54.6. Highest reading since June 2006.

ACB’s sell EUR/USD and AUD/USD

Posted:

Asian central banks have been notable sellers of both EUR/USD and AUD/USD in recent trade. We're down at 1.3725 from session high 1.3758 (guess those sell orders at 1.3760 were of decent size!!!) and at 1.0035 from session high 1.0047.

Talk of buy interest in EUR/GBP lined up for fix

Posted:

It's the 10:00 am London time fix. The cross is very marginally firmer on the day, up at .8545 from early .8537. You know my feelings about fix talk by now. Make of it what you will. But the talk is out there.

USD/JPY steady in early European trade

Posted:

USD/JPY sits at 81.83, where it was when I arrived. US treasury yields are a little firmer this morning, which will be lending the pairing some much-needed support. Talk of stops through 81.75 and 81.70 (take your pick) before buy orders clustered at 81.50. More stops below there. On topside, sell orders ...

FRANCE DATA: Dec PPI +1.0% m/m, +5.4% y/y; Nov: m/m,.

Posted:

FRANCE DATA: Dec PPI +1.0% m/m, +5.4% y/y; Nov: +0.4% m/m, +4.5% y/y --Dec PPI above expected; MNI analysts survey median fcst +0.6% m/m --Dec manufacturing PPI +1.1% m/m, +5.3% y/y --Dec oil product prices +8.2% m/m, +34.6% y/y --Dec food and tobacco prices +0.6% m/m, +3.9% y/y --Dec industry import prices +1.5% m/m, ...

France FinMin: OPEC Would Likely Counter Oil Risk From Egypt

Posted:

PARIS (MNI) - A disruption of oil shipments through the Suez canal would likely encourage OPEC to produce more crude in order to counter a spike in prices, French Finance Minister Christine Lagarde reasoned Tuesday. "If the shipments through the ...

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