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Cable marginally firmer on day

Posted:

Presently at 1.6265 from around 1.6250 when I arrived. Talk of Asian central bank sell orders up at 1.6285/95. Earlier this morning I received reports of Korea selling the pairing, but not that they had any real effect on the market.

ECB Trichet: No “Alarming” 2nd Rd Effects “Until Now”

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--But Sees Some Elements "Not Moving In The Right Direction" FRANKFURT (MNI) - European Central Bank President Jean-Claude Trichet said in a videotaped interview with the Wall Street Journal that "until now" the ECB has not seen "alarming second round effects," but "there are some signs ...

Germany Sets Tender For E6 Bn Auction Of 5-Yr Bobls Apr 20

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FRANKFURT (MNI) - The German federal government set a 2.75% coupon on the E6 billion in new 5-year Bobls it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 10:00 GMT Wednesday, April 20. The results of ...

National coalition leader Katainen says all parties to join Finland govt coalition will need to back govt programme

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Not clear whether old or new govt will deal with Portugal bailout issue Good to prepare for long government formation talks Confident can find responsible govt programme that maximises voice in international forums Expects centre party, greens and swedish party to vote on Portugal as expected in last govt Portugal's troubles are a threat ...

EMU DATA: EMU FEB DIRECT+PORTFOLIO INFLOW E71.3BN;…

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EMU DATA: EMU FEB DIRECT+PORTFOLIO INFLOW E71.3BN; JAN OUTFLOW E11.6BN -- EMU FEB DIRECT INVEST OUTFLOW E19.6BN; JAN INFLOW E6.5BN -- EMU FEB PORTFOLIO INVEST INFLOW E90.9BN; JAN OUTFLOW E18.1BN

EU Commission denies Greek debt restructuring is unavoidable

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Says no talks underway. Deja vu, all over again........

EMU DATA: The current account deficit in the widened.

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EMU DATA: The current account deficit in the Eurozone widened to a seasonally-adjusted E7.2 billion in February from January's revised E5.6 billion level, the European Central Bank reported on Tuesday. -- EMU Feb direct+portfolio inflow E71.3bn; Jan outflow E11.6bn -- EMU Feb direct invest outflow E19.6bn; Jan inflow E6.5bn -- EMU Feb ...

UK’s Cameron: Brown Shouldn’t Be IMF Chief; Competence Key

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LONDON (MNI) - UK Prime Minister David Cameron has poured scorn on former premier Gordon Brown's bid to become Managing Director of the International Monetary Fund. "It does seem to me that if you have ...

Euro zone April flash services PMI 56.9

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Down from 57.2 in March and exactly in line with median forecast. Manufacturing PMI 57.7, up marginally from 57.5 in March and slightly stronger than median forecast of 57.0.

EMU Consumer Morale Erodes Further In April: EU Commission

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FRANKFURT (MNI) - Eurozone consumer morale weakened more than generally expected in April to its lowest level since last summer, European Commission reported on Tuesday, citing preliminary estimates. After a 0.6-point downturn in March, the indicator fell a further 0.8 ...

EMU DATA: Consumer morale in the Eurozone fell by….

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EMU DATA: Consumer morale in the Eurozone fell by more than generally expected, hitting -11.4 in April, an eight-month low, the European Commission reported on Tuesday, citing preliminary estimates. -- For more information, please see MNI MainWire

German April flash manufacturing PMI 61.7

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Up from final 60.9 in March and above median forecast of 60.0. On the flip side, services PMI 57.7, down from final 60.1 in March and below median forecast of 59.8.

ECB’s Trichet: We will not accept second-round effects

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Do not see alarming second-round effects at the moment, but have to be very alert Asked about Greece restructuring, says Greece should apply the aid plan

BIS sells EUR/USD

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Up in 1.4240/45 area. We're touch lower at 1.4235.

ECB buying periphery bonds

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Hardly a major surprise.

France April flash services PMI 63.4

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Up from 60.4 in March and some way stronger than median forecast of 60.0. Highest since September 2000. Manufacturing PMI 56.9, up from 55.4 in March and stronger than median forecast of 55.0. 4-month high.

China’s C.Bank: Controlling inflation is key task of monetary policy

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More room for RRR increases Will make yuan more flexible to ease imported inflation Long-term negative real interest rates bad for inflation management China faces relatively big challenge in meeting full year 4% CPI target China's full year GDP may be higher than 8%

EU source says Greece has accepted mild restructuring as unavoidable – Greek paper

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Little net change in EUR/USD since I got in; early dip contained by buy orders down at 1.4200/10. Talk of sell stops below there, but I'm also getting reports of buy orders layered all the way down to 1.4150 as well. We sit presently at 1.4233.

UK Data:Tesco Group Sales Up 8.1% in 2010/11 But UK Sales Weak

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-- UK Sales Ex-Fuel, Ex-VAT Flat in 2010 -- Tesco Sees Tough Trading Conditions in 2011 LONDON (MNI) - Major UK retailer Tesco saw weak consumer demand in the second half of 2010, with the group's 8.1% sales growth in financial ...

ECB’s Wellink: Must stay very alert on inflation, otherwise risks of falling behind curve

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Euro zone economy will be running at full capacity in 1-2 years It is possible to fix Greece's finances without debt restructuring

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