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USD/JPY giving ground; buy orders, stops noted

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USD/JPY down at 81.82 from around 82.05 when I arrived. US treasury yields are markedly lower this morning against the backdrop of heightened risk aversion, as the world frets over how the spike in oil prices is going to adversely affect global growth prospects. Buy orders noted down at 81.50/60, further ...

BOE’s Miles: Important Monetary Policy Doesn’t Upset Recovery

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LONDON (MNI) - Bank of England Monetary Policy Committee member David Miles has said that the MPC wants to bring inflation down but added that it is important not to upset the UK's "fragile" economic recovery. "It's very much ...

Battle joined at 1.3800

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Quite a battle going on around 1.3800. If we get past it, then Sean mentioned further sell orders 1.3810/25, stops through 1.3835.

Barclays Capital sees no downward pressure on oil prices unless OPEC makes explicit move towards higher output

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Germany Aims To Cut 2012 Fed Net Borrowing To E31.4 Bn: Press

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BERLIN (MNI) - Germany aims to lower federal net new borrowing next year to E31.4 billion, the weekly Der Spiegel reported on its website Thursday, citing the Finance Ministry's new medium-term fiscal projections. For 2013, the ministry sees federal net ...

EUR/USD extends recovery in extremely choppy market

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EUR/USD up at 1.3775 at writing. Buying from Eastern European names (guess that could include more Russia interest) around the 50 area helped fuel the latest leg. This morning I was getting reports of sell orders up around 1.3800 (said to include hedge fund interest) Getting rather difficult to give any rhyme or ...

ITALY DATA: Retail sales rose 0.2% m/m in December…

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ITALY DATA: Retail sales rose 0.2% m/m in December in SA nominal terms, and gained an unadjusted 0.4% y/y, down from +0.8% y/y in November. --Food sales rose 0.3 m/m; non-food sales gained 0.1% m/m. --Shops were open for an average of 27.5 days in December, 0.4 days more than ...

Deutsche Bank says oil price edging closer to a level viewed as a key threat to global growth

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Oil price above $120/barrel would be an inflection point for global growth

EUR/USD steadies after early slippage

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Aforementioned stops were duly tripped through 1.3740 in early trade. Classic risk aversion play (heavy selling of EUR/CHF etc), Cyprus downgrade, Chinese Minister warning of slower Chinese Jan-Feb some of the factors impacting in the early move. I was going to report buy orders at 1.3700/10 before our systems went down, ...

Goldman Sachs: Disruptions in Libya potentially absorbing half of OPEC’s spare capacity

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Believes risks now associated with further contagion are much higher Further disruptions could could create severe shortages in oil markets, require demand rationing

For you Cititech lovers…

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They've gone long EUR/USD, target 1.4000. No other details as yet. Right didn't take long, details...... Long at 1.3716. Stop 1.3495. Initial target 1.40+ and then 1.4283.

China industry growth in Jan-Feb likely slower than December’s 13.5% y/y – Industry Ministry official

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French February consumer confidence steady at 85.0

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Unchanged from January, as expected.

Moody’s downgrades Cyprus two notches to A2 from Aa3; outlook stable

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Playing catch up here Cites banking sector's Greek exposure, competitive concerns for Cyprus downgrade

We’ve been having some technical difficulties

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All right now, baby it's all right now...... Love that song.

FRANCE DATA: February consumer morale 85; January 85.

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FRANCE DATA: February consumer morale 85; January 85 --As expected; MNI analysts survey median forecast 85 --Buying-propensity up 2 points --Future inflation worries up 8 points --Jobless fears up 4 points --For more, see MainWire

Eurostoxx 50 futures down -0.2% early

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DAX futures down -0.4%, CAC 40 down -0.1%.

German Q4 GDP confirmed at +0.4% q/q, +4.0% y/y

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German budget deficit ratio 3.3% in 2010.

Oil could hit $220 a barrel on Libya and Algeria fears, warns Nomura

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Latest from AEP at The Telegraph.

EUR/USD marginally firmer during Asian trade

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EUR/USD sits at 1.3765, marginally firmer from North American close Wednesday around 1.3740. Euro zone data due today: 07:00 GMT: German Q4 GDP (final) expected +0.4% q/q, +4.0% y/y 07:45 GMT: French consumer confidence for February expected unchanged at 85.0 09:00 GMT: Italian retail sales for December expected +0.2% m/m, +1.2% y/y 10:00 GMT: Euro ...

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