Your forexlive

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• Euro Zone Economic sentiment falls to 105.1 in June from 105.5 in May
• Stark rejects idea that banks could exchange Greek debt for paper guaranteed by EU states
• UK May Mortgage Approvals See Less Than Expected Rise
• UK DATA: May Mortgage Approvals See Less Than Rise…
• UK mortgage approvals 45,940 in June
• ECB’s Stark: Not against private sector involvement in Greek deal if voluntary
• Central bank steps in and buys EUR/USD
• Greece In Final Countdown To Critical Austerity Vote
• EUR/CHF firms in early European trade
• Rumour Bundesbank has been buying EUR/GBP
• Nomura Asset eyes increasing toushin investment
• EUR/GBP ticks higher, sell orders noted
• AUD/USD firmer in early European trade
• Austerity engulfs the UK high street
• British consumers starting to ration, says Asda boss
• ECB Provopoulos:Failure To Pass Measures Wld Be “Suicide”-FT
• FRANCE DATA: Final 1Q GDP growth revised down to q/q.
• French Q1 GDP revised down to +0.9% q/q
• Japan Average Gasoline Price Posts 2nd Weekly Rise; +8.9% Y/Y
• EUR/USD becalmed in Asia

Euro Zone Economic sentiment falls to 105.1 in June from 105.5 in May Posted: Reuters poll 105.0 June industrial sentiment 3.2 vs 3.8 in May, services sentiment 9.9 in June vs 9.3 in May June consumer sentiment -9.8 vs rev -9.9 in May June consumer inflation expectations 24.7 vs 27.4 in May, producer price expectations 16.0 vs 20.3 in May June business climate 0.92 (reuters poll 0.90) vs rev [...]

Stark rejects idea that banks could exchange Greek debt for paper guaranteed by EU states Posted: A Brady bond style solution would be violation of EU no bail-out clause

UK May Mortgage Approvals See Less Than Expected Rise Posted: –BOE: UK May House Purchase Approvals 45,940 Vs 45,447 Apr –BOE: UK May Net Mortgage Lending stg1.098bn Vs stg1.047bn Apr –BOE: May M4 Ex-IOFCs 1.7% 4q/12m Annualised –BOE: May M4 Ex-IOFCs 0.3% m/m; 1.0% 1q/3m Annualised –BOE: UK May Net Consumer Credit stg173mln; Vs stg539mln Apr London (MNI) – Mortgage approvals nudged higher in May [...]

UK DATA: May Mortgage Approvals See Less Than Rise… Posted: UK DATA: May Mortgage Approvals See Less Than Expected Rise –BOE: UK May House Purchase Approvals 45,940 Vs 45,447 Apr –BOE: UK May Net Mortgage Lending stg1.098bn Vs stg1.047bn Apr –BOE: May M4 Ex-IOFCs 1.7% 4q/12m Annualised –BOE: May M4 Ex-IOFCs 0.3% m/m; 1.0% 1q/3m Annualised –BOE: UK May Net Consumer Credit stg173mln; Vs stg539mln [...]

UK mortgage approvals 45,940 in June Posted: Versus 45,447 in May, very slightly below median forecast of 46,100

ECB’s Stark: Not against private sector involvement in Greek deal if voluntary Posted: Oh bugger off, you’re boring me…… Greece cannot expect to always be supported by others (guess he won’t be going to Kos for his holidays) Greek economy would collapse if there was debt restructuring

Central bank steps in and buys EUR/USD Posted: On the dip back below 1.4400. We’re back up at 1.4405 in increasingly erratic trading conditions. I hate to think how thin this market is getting. Probably good idea to keep positions conservative.

Greece In Final Countdown To Critical Austerity Vote Posted: ATHENS (MNI) – Greece is now in the final hours before a critical vote on austerity and privatization measures that could determine whether Athens will be able to honor repayment obligations falling due the middle of next month. The Greek Parliament will vote this afternoon on a package of measures that includes E28 billion in [...]

EUR/CHF firms in early European trade Posted: Presently up at 1.1970 from around 1.1930 when I arrived. Sources note real money has been buying this morning. This cross buying (together with aforementioned EUR/GBP buying) will be helping underpin EUR/USD which has edged over 1.4400. We’re at 1.4405 having been as high as 1.4417 as the market continues to discount a Greek austerity yes vote.

Rumour Bundesbank has been buying EUR/GBP Posted: Well it is nearly months end. Cross sits at .8992.

Nomura Asset eyes increasing toushin investment Posted: Reuters article.

EUR/GBP ticks higher, sell orders noted Posted: EUR/GBP up at .8993 from around 8978 when I sat down. Talk now, not surprisingly, of sell orders clustered up around the psychological .9000 mark. Will they be enough to hold back the tide? I’m not too sure they will be. Time, as always, will tell.

AUD/USD firmer in early European trade Posted: Presently at 1.0575, up from around 1.0545 when I parked my bum. Talk of fixing demand for the AUD/JPY cross today (possibly linked to large toushin issues over today/tomorrow) will be lending some underpinning. Slightly firmer EUR/USD will also obviously be impacting too.

Austerity engulfs the UK high street Posted: C’mon, who can afford Thornton’s chocolates?

British consumers starting to ration, says Asda boss Posted: Happy Dayz. The shit is really starting to hit the fan.

ECB Provopoulos:Failure To Pass Measures Wld Be “Suicide”-FT Posted: FRANKFURT (MNI) – European Central Bank Governing Council member George Provopoulos said it would be “suicide” if the Greek parliament fails to pass sweeping austerity measures on Wednesday, the Financial Times reported. “For parliament to vote against this package would be a crime – the country would be voting for its suicide,” the Bank of [...]

FRANCE DATA: Final 1Q GDP growth revised down to q/q. Posted: FRANCE DATA: Final 1Q GDP growth revised down to +0.9% q/q (+1.0%) – 1Q Private consumption revised to +0.4% q/q (+0.6%) – 1Q Capital investment revised to +1.2% q/q (+1.1%) – For more information, please see MNI Mainwire

French Q1 GDP revised down to +0.9% q/q Posted: From previous 1.0%. Q4 2010 GDP revised down to +0.3% from previous +0.4%. 2010 full year GDP revised down to +1.4% from previous +1.5%.

Japan Average Gasoline Price Posts 2nd Weekly Rise; +8.9% Y/Y Posted: TOKYO (MNI) – The average price of regular gasoline in Japan this week jumped to Y148.7 ($1.83) per liter, or $6.95 per gallon, from Y147.8 last week, a second straight weekly rise and a sharp increase from a year earlier, data released by the Oil Information Center showed on Wednesday. On April 25, the national [...]

EUR/USD becalmed in Asia Posted: EUR/USD sits at 1.4370, effectively where it closed out Tuesday in North America, the market in Asia effectively on hold ahead of todays Greek austerity vote. Euro zone data due today: 05:30 GMT: French GDP Q1 +1.0% q/q, +2.2% y/y 09:00 GMT: Euro zone business climate indicator for June expected 0.90 from 0.99; consumer confidence [...]