ECB’s Wellink:World Economy Has Recovered Strongly Since 2009


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German FDP ruling coalition partner says wants Parliament to have strict control over euro zone bailouts – Draft document

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Oh-eh. Private investors must participate in all euro zone debt bailouts ESM should only be allowed to buy debt on primary market in an absolutely exceptional circumstance

ECB’s Wellink:World Economy Has Recovered Strongly Since 2009

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HELSINKI (MNI) - The global economy has come back strongly following the crisis but considerable threats remain, European Central Bank Governing Council member Nout Wellink said Friday. Speaking at the anniversary celebration of the Bank of Finland, the Dutch National ...

UK Analysis: Apr Input Price Inflation Highest Since Sep 08

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--Apr producer output prices +0.8% m/m; +5.3% y/y --Apr core producer output prices +0.6% m/m; +3.4% y/y --Apr producer input prices +2.6% m/m; +17.6% y/y --Oil Contributed Over Half Of Input Price Rise LONDON (MNI) - The rising cost of crude oil and imported goods pushed input ...

UK DATA: Apr producer output prices +0.8% m/m; +5.3%.

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UK DATA: Apr producer output prices +0.8% m/m; +5.3% y/y --Apr core producer output prices +0.6% m/m; +3.4% y/y --Apr producer input prices +2.6% m/m; +17.6% y/y ------------------------------------------------------------------------ Output prices rose 0.8% m/m in April and 5.3% y/y, a little above the median for +0.7%/+5.1%. This was booosted by duty rises as ...

UK April producer output prices +0.8% m/m +5.3% y/y

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Stronger than median forecasts of +0.7%, +5.1% respectively. Highest y/y rate since September 2010. Given cable a lift, presently at 1.6380. Input prices +2.6% m/m, +17.6% y/y, stronger than median forecasts of +1.6%, +16.3% respectively Well, at least the much lower oil price is going to help things :)

EUR/USD slips again

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Model funds seen selling. We're at 1.4515 having been as low as 1.4507 so far. Personally I'm just watching the oil price. Crazy crazy stuff. UPDATE: Talk of large stops through 1.4480 in EUR/USD UPDATE: Asian sovereign buying EUR/USD around 1.4510. Battle of the 1.450o-1.500 dnt well and truly joined.

ECB’s Wellink: We are living in a very uncertain period…

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No shit...... So much for my tranquil morning!!

UK new car registrations down -7.4% y/y in April – SMMT

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Yer, like who can afford a new car these days. I can't even afford to fill my old banger up with petrol. Although I have a feeling things are changing for the better..... Cable down at 1.6370 from early 1.6400. Talk of sell stops through 1.6350. OIL OFF 4 1/2 BUCKS, CTA's selling ...

France’s Lagarde: Germany’s Fin Min Backs Draghi For ECB Helm

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PARIS (MNI) - Germany's finance minister supports the nomination of Bank of Italy Governor Mario Draghi to succeed Jean-Claude Trichet as president of the European Central Bank, French Finance Minister Christine Lagarde revealed Friday. Asked in a radio interview whether ...

ECB’s Nowotny: Policy goal is price stability, but no target on exchange rates

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ECB Nowotny: Should be no idea about ECB being dovish

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Markets definitely over-interpreted ECB yesterday Need full info especially about medium-tem inflation Can decide in June on policy with new forecasts in hand ECB never pre-commits Intend to keep ECB bond buy programme for now, but use as little as possible Sharp about turn in EUR/USD as comments hit the wire and we're back up ...

EUR/USD dips further

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Presently at 1.4527. Real money selling notable in recent trade. Commodities getting whacked again. Oil off 2 bucks. Silver down etc etc. Obviously defence of 1.4500 dnt can be expected.

Roll up, roll up!! All the fun of the fair…..

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Well, not really. But times running out if you're thinking about entering our wonderful non-farm payrolls comp. Hit the link here and make Jamie Coleman a very happy man. And he deserves to be happy after his fab coverage yesterday. Truly talented that boy.

IMF’s dep managing director Shinohara: Recent yen rise is different from its rise right after earthquake

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Declines comment on possible Japanese intervention, says it's more dollar weakening than yen strengthening

Spain March calendar-adjusted industrial production -0.9% y/y

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Some way weaker than median forecast of +2.0%. Elsewhere Spain's IBEX down -0.7% in early trade.

ECB’s Orphanides: Monetary policy can stay too easy too long following a recession

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Yes it can.

ECB Bonello: High Uncertainty Requires Step By Step Decisions

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HELSINKI (MNI) - The European Central Bank is in a situation of high uncertainty that requires it to take its monetary policy decisions "step by step," Governing Council member Michael Bonello said Friday. Speaking to journalists on the margins of ...

FRANCE DATA: March sa merchandise trade deficit bln..

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FRANCE DATA: March sa merchandise trade deficit E5.746 bln after -E6.374 bln in February (revised from -E6.553 bln). -- Deficit smaller than expected; MNI survey median forecast -E6.6 bln -- March sa exports +1.4% m/m; sa imports -0.4% m/m -- For more information, please see MNI MainWire

FRANCE DATA: 1Q central government deficit E33.6 up..

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FRANCE DATA: 1Q central government deficit E33.6 bln, up E4.7 bln y/y --1Q government deficit boosted by one-off effects: Budget Ministry --1Q government outlays -4.5% y/y; 1Q revenues +5.9% y/y

French March trade balance -5.746 bln

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Better than median forecast -6.5 bln.

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