Eurozone nsa May trade balance unchanged vs May 2010 at -4.9 bln euros

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• Analysis: EMU SA Trade Deficit Unexpectedly Narrows In May
• EMU DATA: May sa trade balance -E0.6bn vs April rev..
• Eurozone nsa May trade balance unchanged vs May 2010 at -4.9 bln euros
• IIF-led bank meeting on Greece continues in Rome – Treasury source
• Swiss Franc exchange rate controls – 1971/2 deja vu?
• Being told…..
• MNI Survey: Japan June Dept Store Sales Seen Up From May
• Germany’s Fin Min:Public Budget To Be Nearly Balanced By 2014
• Bit of scuttlebutt in the market regarding swissy
• Cable touch lower; stops noted
• Corporate and model accounts buying aussie
• Periphery/German govt bond yield spreads widen early
• Westpac Bank: Economic update
• MNI Survey: Japan June Trade Deficit Seen Smaller at Y141 Bln
• AUD/USD helps drag EUR/USD lower
• RPT: Analysis: Mkt Angst Makes Stress Tests Confidence Exercise
• Germany Finmin: Greek Crisis Threatens Eurozone As A Whole
• FRANCE DATA: Bank of France survey shows June real…
• Westpac expects Australian central bank to cut rates in 2011
• ACEA: EMU New Car Registrations Fall 8.8% Y/Y In June

Analysis: EMU SA Trade Deficit Unexpectedly Narrows In May Posted: Seasonally adjusted results: May: -E600 million MNI survey median: -E2.8 billion MNI survey range: -E5.0 bln to +E2.5 bln (Including Estonia): April: -E2.5 bln (revised from -E2.9 bln) March: -E1.6 bln (revised from -E2.2 bln) February: -E2.3 bln (revised from -E2.7 bln) January: -E3.3 bln (revised from -E3.7 bln) December: -E1.6 bln (revised from -E1.8 [...]

EMU DATA: May sa trade balance -E0.6bn vs April rev.. Posted: EMU DATA: May sa trade balance -E0.6bn vs April rev -E2.5bn (-E2.9) – EMU May sa trade balance above MNI median fcast (-E2.8bn) – EMU May nsa trade balance unch vs May10 -E4.9bn – EMU May exports: sa +1.5% m/m, nsa +21.0% y/y – EMU May imports: sa +0.2% m/m, nsa +16.0% y/y – EMU [...]

Eurozone nsa May trade balance unchanged vs May 2010 at -4.9 bln euros Posted:

IIF-led bank meeting on Greece continues in Rome – Treasury source Posted:

Swiss Franc exchange rate controls – 1971/2 deja vu? Posted: Hopefully this will answer your questions. And no I haven’t heard anything further to the very vague rumours earlier.

Being told….. Posted: More sell stops through 1.4090 in EUR/USD (maybe the one’s through 1.4090 are actually the ones mentioned below 1.4100 earlier?) But who gives a monkeys. Market seems a little tired to me. Under four hours to go before I can start the weekend. Yipeeeeeee…..

MNI Survey: Japan June Dept Store Sales Seen Up From May Posted: – See Separate Table For Details TOKYO (MNI) – Combined sales at Japanese department stores are expected to have improved in June from a 2.4% year-on-year fall in May, with a possible first y/y rise since +0.7% in February, a Market News International survey showed. The Japan Department Stores Association will release June sales data [...]

Germany’s Fin Min:Public Budget To Be Nearly Balanced By 2014 Posted: BERLIN (MNI) – The German Finance Ministry said late Thursday it expects overall public finances close to balance in 2014. In its previous forecast from April, the ministry had projected a public deficit of 0.5% of GDP in 2014. For the current year, it now expects a public deficit of 1.5%, down from 2.5% forecast [...]

Bit of scuttlebutt in the market regarding swissy Posted: Very spurious rumour of swiss exchange control. No detail. Take it for what you will. I’m just passing it along. Can’t say it does much for me.

Cable touch lower; stops noted Posted: Cable down at 1.6125 from around 1.6155 when I sat down. Reports have sell stops through 1.6090.

Corporate and model accounts buying aussie Posted: In recent trade. Helping stem the blood letting for now. We’re at 1.0645 from session low 1.0630.

Periphery/German govt bond yield spreads widen early Posted: Portuguese/German 10 year spread up at 1000 bps from 988 bps I jotted down at start of day Italian/German at 305 bps from 291; Spanish/German 329 bps from 313.

Westpac Bank: Economic update Posted: Chief Economist Bill Evans speaking.

MNI Survey: Japan June Trade Deficit Seen Smaller at Y141 Bln Posted: – See Separate Table For Details Of Individual Forecasts TOKYO (MNI) – Japan is expected to have posted a trade deficit of Y141.3 billion in June, a third straight month of red ink, though the shortfall should shrink drastically from a revised deficit of Y855.8 billion in May, according to the median forecasts by economists [...]

AUD/USD helps drag EUR/USD lower Posted: We sit presently at 1.4115. Buy orders clustered 1.4100/10, more stops below there.

RPT: Analysis: Mkt Angst Makes Stress Tests Confidence Exercise Posted: – Repeats Item Transmitted At 1421GMT Wednesday LONDON (MNI) – European Banking Authority Chairman Andrea Enria faces probably the euro zone’s most challenging job as he prepares to publish this Friday EU-wide bank stress tests. Enria had promised a much more rigourous, thorough and probing test of the banks’ financial resilience than the 2010 tests [...]

Germany Finmin: Greek Crisis Threatens Eurozone As A Whole Posted: FRANKFURT (MNI) – The debt crisis enveloping Greece threatens to engulf the whole of the euro region, Germany’s Finance Minister Wolfgang Schaeuble warned in an interview with Westdeutsche Allgemeine Zeitung. He again stressed the importance of tackling the crisis in a convincing manner, but refused to elaborate on how this might be best achieved. Turning [...]

FRANCE DATA: Bank of France survey shows June real… Posted: FRANCE DATA: Bank of France survey shows June real sa retail sales up 1.0% on the month and 4.4% higher on the year.

Westpac expects Australian central bank to cut rates in 2011 Posted: Thanks to Chris for the heads up. AUD/USD has seen some slippage in early European trade, most probably impacted by the Westpac prognostication. Down at 1.0695 from around 1.0730 when I sat down.

ACEA: EMU New Car Registrations Fall 8.8% Y/Y In June Posted: FRANKFURT (MNI) – Eurozone new car registrations fell back on the year in June, with annual declines noted in the bulk of member states, the Association of European Automobile Builders (ACEA) reported on Friday. Compared to June 2010, registrations came to 948,616, according to data provided from 15 of the 17 countries in the Eurozone, [...]