Stops tripped in EUR/USD

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The light buy stops aforementioned above 1.4400 have been tripped and we’ve been as high as 1.4413 so far. Details of a successful Spanish bond auction were the trigger for the move through 1.4400. Talk now of sell orders clustered around 1.4430 and more around 1.4450.

CIPS: UK Construction Growth Picks Up In May

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–May CIPS Construction Index 54.0 Vs Unrevised 53.3 In April LONDON (MNI) – The UK construction industry saw growth pick up in May with new business increasing and price pressures remaining elevated, according to the latest CIPS/Markit survey showed. The May CIPS construction index came in at 54.0, up from 53.3 in April, with employment [...]

Spain sells 2753 mln 2014 bond, 1200 mln 2015 bond

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Bid to cover 2014 2.5, up from previous 1.8 Bid to cover 2015 2.9, up from previous 1.6 2014 average yield 4.23% 2015 average yield 4.037% fom previous 3.568%

Sovereign buyer seen in EUR/CHF

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In recent trade. Rally in cross extends as high as 1.2162.

JAPAN DATA: The size of the slump in Japanese growth.

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JAPAN DATA: The size of the slump in Japanese growth in the first quarter is likely to be trimmed slightly to an annualized real GDP rate of -3.6% in revised data to be released next week from the -3.7% rate reported initially, reflecting an upward revision to private-sector inventories, according to the median forecast of [...]

MNI Survey: Japan Q1 GDP To Be Revised Up Slightly To -3.6%

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TOKYO (MNI) – The size of the slump in Japanese growth in the first quarter is likely to be trimmed slightly to an annualized real GDP rate of -3.6% in revised data to be released next week from the -3.7% rate reported initially, reflecting an upward revision to private-sector inventories, according to the median forecast [...]

UK May construction PMI 54.0

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Slightly better than median forecast of 53.6 Cable up at 1.6340. UPDATE: Talk of buy stops through 1.6360.

India buys GBP/JPY

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In recent trade. Cross is at 132.05 from session low 131.74. Lending both GBP/USD and USD/JPY some much-needed support.

EUR/USD ticks slowly higher

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Presently at 1.4390. Real money has been buying EUR/CHF and EUR/GBP this morning, and this will be lending EUR/USD some support. Talk of some light stops just above 1.4400.

ACB buys cable

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In recent trade. Not that we’re any higher yet, presently at 1.6307. Talk of stops through 1.6290.

Cable touch easier in slow trade

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Down at 1.6315 from around 1.6330 when I arrived. One of the wire services carried headline: BOE policymaker Paul Fisher says would consider quantitative easing. As far as I can remember this is nothing new. Guess he made comment in his interview with the Daily Mail. As I’ve said before I kinda like this Mr [...]

BOE’s Fisher: More QE Remains An Option – Daily Mail

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LONDON – Bank of England Monetary Policy Committee member Paul Fisher has said that the bank could embark on a second round of quantitative easing if the UK economy weakens significantly. “I would consider it and still hold that possibility open,” he told the Daily Mail newspaper. The BOE made stg200bln of asset purchases between [...]

2 year Greek bond yields rise to 25.42%

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Up more than 40 bps on the day. Comes in the wake of yesterday’s multi-notch downgrade by Moody’s.

Zapatero: Spain will meet budget-deficit target of 6%

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Deficit reduction key to reducing borrowing rates Spain won’t need external help

Japan Diet Rejects No Confidence Motion Against Kan Cabinet

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TOKYO (MNI) – Japan’s parliament on Thursday rejected a no-confidence motion submitted by opposition parties against Prime Minister Naoto Kan and his cabinet. The motion was defeated by a vote of 293 to 152 in the 480-member House of Representatives. Kan survived the worst crisis of his 12-month-old government by promising to quit at an [...]

Ya bored yet?

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Not alot going on really. Guess we’ve Ascension Day being celebrated in parts of Europe and Foundation Day in Italy. Not sure what that means for bank trading rooms in those countries, but guess there’ll be limited interest eminating from those parts. No euro zone data releases of note today. Summertime and the living is [...]